ECG Market worth $10.3 billion by 2024

The Diagnostic Electrocardiograph (ECG) Market is dominated by players
such as GE Healthcare (US), Philips Healthcare (Netherlands), Nihon
Kohden (Japan), Hill-Rom Holdings (US), and Ambu (Denmark).



Market Players

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On the basis of region, the diagnostic ECG market is segmented into
North America, Europe, Asia Pacific, and RoW. The Asia Pacific is
expected to grow at the highest CAGR during the forecast period. Factors
such as growth in the geriatric population, growing incidence of
chronic diseases, rising healthcare spending, healthcare reforms for
infrastructural development, growing demand for advanced technologies,
and less stringent regulations are fueling the demand for diagnostic ECG
products and services in this region.


Asia Pacific diagnostic ECG market is expected to grow at the highest CAGR during the forecast period


By lead type, the diagnostic ECG market is divided into 12-lead, 5-lead,
3-lead, 6-lead, single-lead, and other lead types (15- and 18-lead).
The 3-lead segment is expected to grow at the highest CAGR during the
forecast period. This positive growth is primarily due to the fact that
these leads are used conjointly with various other cardiac diagnostic
tests and during medical procedures.


The 3-lead ECG segment is expected to grow at the highest CAGR in the diagnostic ECG market during the forecast period


By end user, the market is classified into hospitals, clinics, and
cardiac centers; ambulatory surgical centers; and other end users. In
2018, the hospitals, clinics, and cardiac centers segment accounted for
the largest share of the market. The large share of this segment can
primarily be attributed to the growing burden of cardiovascular
diseases, which, in turn, is increasing the need for quality cardiology
care.


The hospitals, clinics, and cardiac centers segment accounted for the
largest share of the Diagnostic Electrocardiograph (ECG) Market in 2018


The Factors such as the rising incidence of lifestyle &
cardiovascular diseases and increasing geriatric population are expected
to propel the growth of the market.

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According to the new market research report global Diagnostic Electrocardiograph Market is expected to reach USD 10.3 billion by 2024 from USD 7.5 billion in 2019, at a CAGR of 6.4% during the forecast period.