According to FutureWise analysis the market for ECG Devices in 2023 is US$ 6.47 billion, and is expected to reach US$ 11.54 billion by 2031 at a CAGR of 7.50%.
Electronic Cardiogram (ECG) Devices record heart activity through electrical signals, which are amplified on an ECG monitor. Heart disease and arrhythmias can be diagnosed with ECG devices, which can then assist in appropriate treatment. An ECG test is noninvasive and painless and determines if there are abnormalities in the heart. Depending on the condition or activity, there are four types of ECG devices that measure heart activity. Globally, chronic diseases have become a major cause of diseases, which is putting a lot of pressure on healthcare providers to adopt a new medical paradigm and develop better healthcare facilities, boosting the demand for new technologies. The leading cause of death worldwide is cardiovascular disease, which is the most common health problem. The purpose of conducting ECG tests is to avoid the risk associated with heart disease among individuals who are susceptible to the factors causing heart disease. This device helps physicians determine what type of therapy is needed for patients as it diagnoses the kinds of heart conditions. Due to the emergence of smart enabling technologies, ECG monitoring systems have been developed and widely used in the healthcare sector for the past few decades. Monitoring systems for ECGs are being used more and more in hospitals, homes, outpatient ambulatory settings, and even in remote settings. Additionally, they utilize technologies such as Internet of Things (IoT), edge computing, and mobile computing. Moreover, different computational settings are implemented based on the frequency of processing, as well as monitoring schemes. Besides disease diagnosis and control, they are also used for a variety of other purposes, including daily activities , sports, and even mode-related activities.
FutureWise Market Research has instantiated a report that provides an intricate analysis of ECG Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the ECG Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.