Analysis of ECG Telemetry Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide sales of ECG telemetry devices are valued at US$ 2.65 billion in 2023. The global electrocardiography (ECG) telemetry devices market is forecasted to expand rapidly at a CAGR of 8% and reach a market valuation of US$ 5.72 billion by 2033.
ECG telemetry devices are bifurcated into resting ECG devices, stress ECG devices, Holter monitors, event monitoring systems, and ECG management systems. Global demand for resting ECG devices is predicted to rise at 9% CAGR from 2023 to 2033. A non-invasive test called resting 12-lead electrocardiography (ECG) can find anomalies such as left ventricular hypertrophy, signs of coronary heart disease, arrhythmias, and bundle branch blockages.
A resting ECG device is utilized in the preoperative situation to evaluate cardiovascular disorders that are known to exist, to identify cardiovascular diseases that have not yet been diagnosed, and to give a baseline norm against which to compare developments in the postoperative phase. Thus, sales of resting ECG devices are expected to increase rapidly during the forecast period.
The only known complication of the resting ECG device, when performed by a qualified professional, is a slight allergy to the ECG electrodes that causes self-limiting skin reddening. A basic electrocardiogram is a non-invasive equipment commonly used to detect electrical signals from the heart to check and record heart-related disorders.
A cardiologist can identify cardiac problems as well as the size and placement of the heart chambers by using the ECG telemetry system, which captures the electrical impulses, generated by the polarization and depolarization of heart tissue and converts them into a waveform.
By being connected to a bedside cardiac monitor, the ECG telemetry equipment permits unlimited and continuous monitoring of cardiac activities. Telemetric devices can now easily and quickly monitor ECGs in patients with suspected cardiac problems due to recent advancements in telecommunication infrastructure, which is boosting the growth of the ECG telemetry devices market.
Market Size (2023E)
US$ 2.65 Billion
Forecasted Market Value (2033F)
US$ 5.72 Billion
Global Market Growth Rate (2023-2033)
China Market Growth Rate (2023-2033)
Japan Market Growth Rate (2023-2033)
Germany Market Growth Rate (2023-2033)
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“Cardiovascular Disorders Prime Cause of Mortality Worldwide”
Cases of cardiovascular disorders (CVDs) are rapidly increasing across the globe due to the growing adoption of a sedentary lifestyle, high consumption of alcohol and cigarette, rising stress levels among individuals due to several reasons, and more.
Increasing frequency of cardiovascular diseases, such as congenital abnormalities, coronary heart disorder, rheumatic heart disease, and cerebrovascular disease, all are increasing the burden of illness globally.
Thus, rising cases of CVDs are fuelling cardiovascular disease monitoring and diagnostic devices market growth.
“Rapid Technological Developments in ECG Devices”
A new generation of small and portable ECGs is supporting its wider usage on the front of diagnostic and monitoring, particularly in the home healthcare setting. The prevalence of cardiovascular diseases (CVDs), for which long-term ECG monitoring is required, is increasing. Furthermore, the introduction of wireless ECGs has allowed medical professionals to quickly monitor and diagnose patients from a remote distance with the help of artificial intelligence (AI).
Wearable smart gadgets with heart-monitoring capabilities, such as watches, bands, and rings, are among the new cardiac device technologies that have become common for many individuals globally.
As such, several technological advancements in medical diagnostic equipment are generating new opportunities in the electrocardiography telemetry devices market.
“COVID-19 Outbreak Opened New Doors in Telehealth & Virtual Solutions”
COVID-19 has had a big effect on the entire healthcare sector.
Thus, COVID-19 opened potential opportunities for telehealth and virtual solution providers across the world.
As a result, COVID-19 has a big influence on the demand for wireless ECG devices. Also, during the forecast period, the demand for home care heart monitoring devices is expected to increase rapidly.
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“High Prices of Advanced ECG Devices”
Rapid advancements in telemetry cardiac monitoring devices are increasing the cost of R&D activities. Thus, such developments are increasing the price of smart ECG devices.
In poor and developing economies, the sales of smart and portable ECG devices are expected to be hampered to some extent due to their high prices and lack of knowledge about their usage.
“New Market Players Focusing on Introducing Advanced ECG Solutions”
To strengthen their market presence and carve out a niche for themselves, new market entrants are concentrating on the introduction of novel, creative solutions. The introduction of reasonably priced disposable ECG wires could upend the market and aid emerging businesses in gaining a presence in the global economy.
“Increasing Cases of Heart-related Disorders”
Cardiovascular disorders are the main cause of hospitalizations and doctor visits as well as the leading cause of fatalities in the United States.
As a result, there is a greater need for diagnostic tools in the nation as the incidences of cardiovascular diseases (CVDs) and heart attacks are increasing.
Since ECG telemetry devices are the simplest and quickest tools for diagnosing CVDs, the cardiovascular diagnostic industry favours them. The United States offers patients with cardiovascular illnesses good reimbursement options. This element is supporting the growth of the ECG telemetry devices market.
Government programmes such as “A Public Health Action Plan to Prevent Heart Disease and Stroke” are increasing the use of innovative technologies in the United States. Furthermore, the United States is making more investments in healthcare, which ultimately promotes the sales of ECG telemetry systems.
“Development of Next Generation ECG Telemetry Systems”
France, the U.K., Germany and Italy are some of the top marketplaces in the European region. Several technological advancements in the healthcare sector of the U.K. support the sales of ECG devices. The development of the next generation of ECG telemetry systems is the prime priority of key players in the European market.
Demand for ECG telemetry devices in Germany is expected to increase at a CAGR of 5.5% during the forecast period. Thus, all the above-mentioned factors are supporting the sales growth of electrocardiography telemetry devices in Europe.
“Rapidly Developing Healthcare Facilities in the Region”
The healthcare industry is growing rapidly in the Asia Pacific region. India, China, Japan, South Korea, and Australia are some of the top national markets in the Asia Pacific region.
The need for cardiovascular disorder monitoring devices such as ECG devices is increasing due to the rising number of admissions into emergency and critical care units. Also, rising cases of diabetes and obesity, increasing health awareness among people, and rapid developments in healthcare facilities are boosting Asia Pacific electrocardiography telemetry devices market growth.
“Rapidly Rising Incidence of Arrhythmias Due to Increasing Senior Population”
An irregular cardiac beat is a condition known as arrhythmia. Too many or too few electrical impulses cause the heart's blood-pumping efficiency to decline. Several devices are used to diagnose arrhythmias. However, the most efficient tools for the detection of arrhythmias are ECG telemetry equipment.
The rising rate of the older population is expected to increase the cases of more vulnerable cardiovascular conditions such as arrhythmias, this is likely to have a favourable influence on sales growth.
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Key players in the ECG telemetry devices market are Aerotel Medical Systems (1998) Ltd., Cardiac Science Corporation, GE Healthcare, Medtronic, Inc., Nihon Kohden Corporation, Philips Healthcare, Schaeffler AG (Schaeffler Group), Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Siemens Healthineers, and Welch Allyn, Inc.
More small- and mid-sized businesses are anticipated to enter the market in the coming years as a result of the growing emphasis on advanced product creation and the expanding use of technologies in healthcare.
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The global ECG telemetry devices market is valued at US$ 2.65 billion in 2023.
Worldwide demand for global ECG telemetry devices is predicted to increase at a CAGR of 8% from 2023 to 2033.
Worldwide sales of global ECG telemetry devices are expected to reach US$ 5.72 billion by 2033.
North America, Europe, and Asia Pacific are key regional markets for ECG telemetry device manufacturers.
Aerotel Medical Systems (1998) Ltd., Cardiac Science Corporation, and Medtronic, Inc. are key producers of ECG telemetry devices.
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