Wireless ECG Devices Market 2021: Leading Countries, Market Size, Challenges, Five Forces Analysis, Trends, Drivers, Forecast to 2024

Wireless ECG Devices

The report focuses on the favorable Global “Wireless ECG Devices market” and its expanding nature. The Wireless ECG Devices market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The major factors for the growth of the wireless ECG devices market include the growing geriatric population and increasing incidence of cardiovascular diseases, declining cost of wireless technologies, technological advancements in remote monitoring technologies, and policies favoring monitoring devices.
  • There is an increase in the incidence of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary. With the introduction of wireless ECG, the doctors can monitor and diagnose the patient remotely and on time. Earlier, the high cost of wireless ECG was affecting the market studied. These devices were unable to reach the rural and remote areas, as the average price of ECG was high. However, currently, there are many cost-effective and efficient wireless ECG devices available. The availability of such devices has bolstered the adoption of wireless ECG.
  • The development of cost-effective wireless ECG began in 2006. It was implemented by digitizing the measured ECG signal and then, transmitting it wirelessly, to display the results on the computer screen. The analog-to-digital converter was based on the sigma-delta modulator and offered a significant advantage of noise-shaping property.
  • The wireless ECG cardiac monitors developed by a UK-based medical services startup, Isansys, help to manufacture low-cost continuous ECG heart monitoring devices. These devices can be used for the continuous monitoring of patients suffering from CVD and for the detection of heart-related problems. The usage of a Bluetooth evaluation kit in these wireless technologies was replaced by technologies, such as ZigBee and AM-FM Transmission, which make it cost-effective, thus, making it affordable to most of the population.
  • Thus, declining costs of wireless technologies are augmenting the growth of the market studied, as the equipment are now available to a more extensive section of the population.

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    Key Manufacturers

  • Aerotel Medical Systems Ltd
  • AliveCor Inc.
  • BPL Medical Technologies
  • Cardiocity Limited
  • CardioComm Solutions Inc.
  • GE Healthcare
  • iRhythm Technologies Inc.
  • MediBioSense Ltd
  • Medtronic
  • Nihon Kohden Corporation

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Wireless ECG Devices market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Wireless ECG Devices market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Wireless ECG Devices market have also been involved in the study.

    Scope of the Report:

  • As per the scope of this report, wireless electrocardiography (ECG) is a type of ECG with recording devices. It uses wireless technologies, such as Bluetooth, smartphone, and other types of remote monitoring devices. The wireless ECG devices market is segmented by product type, end user, and geography.

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    TOC of Wireless ECG Devices Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Wireless ECG Devices market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Wireless ECG Devices Market Report Covered:

    • The report analyses how Wireless ECG Devices market will grow in the future.
    • Analyzing various perspectives of the Wireless ECG Devices market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Wireless ECG Devices market shares and policies employed by the major market players.
    • Competitive landscape including the Wireless ECG Devices market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Wireless ECG Devices market players

    Key Market Trends:

    The Monitoring ECG Systems Segment is Expected to be the Fastest Growing Segment During the Forecast Period

    The continuous cardiovascular monitoring ECG systems segment is expected to grow over the forecast period, due to the increasing incidence of cardiovascular diseases and a growing geriatric population, which is likely to increase the need for continuous cardiovascular monitoring of patients’ heart during their daily routines. According to the WHO factsheets in 2017, an estimated 17.7 million people died due to cardiovascular diseases in 2015, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Increasing awareness regarding early detection and management of cardiovascular diseases is augmenting the demand for continuous cardiovascular ECG monitoring devices. Continuous cardiovascular ECG monitoring systems are worn continuously by the patients. It continuously monitors and sends ECG readings to the user’s smartphone, using Bluetooth; from there, the data is sent over mobile networks to a server. Development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, is anticipated to drive the popularity of continuous cardiovascular ECG monitoring systems.

    North America Accounted for the Largest Share in the Global Market

    North America holds a major share for the wireless ECG devices market and is expected to show a similar trend over the forecast period, without significant fluctuations. As reported in 2016, the healthcare spending in the was the highest, when compared to other countries in the Organization for Economic Co-operation and Development (OECD) list. According to the estimates of the American Heart Association, cardiovascular disease is listed as the underlying cause of death and accounts for nearly 836,546 deaths in the United States. Furthermore, as per the American Heart Association (AHA), an estimated 4 million patients are affected by arrhythmias, with half a million people dying every year in the United States. ECG has been in existence for a long time. However, there has been a continuous evolvement year on year, with the need to observe the patient for an extended period. With the launch of door-to-balloon (D2B) time initiative and “Mission: Lifeline” by the American College of Cardiology and AHA, the demand from hospitals for Bluetooth-equipped 12-lead ECG monitors and wireless solutions has increased. Owing to more hospitals striving to meet the national guidelines for ECG devices, technology advancements, the prevalence of heart diseases, high healthcare expenditure, and reimbursement, the US wireless ECG market is expected to grow. The holds the largest market share in the North American wireless ECG devices market, and it is expected to register high growth rate over the forecast period.

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    Study objectives of Wireless ECG Devices Market Report:

    • To provide a detailed analysis of the market structure along with the Wireless ECG Devices market forecast of various segments and sub-segments of the Wireless ECG Devices market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Wireless ECG Devices market trends that influence the global Wireless ECG Devices market

    Detailed TOC of Wireless ECG Devices Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Growing Geriatric Population and Increasing Incidence of Cardiovascular Diseases
    4.2.2 Declining Cost of Wireless Technologies
    4.2.3 Technological Advancements in Remote Monitoring Technologies
    4.3 Market Restraints
    4.3.1 Complex Reimbursement Policies Regarding Cardiovascular Diseases (CVD)
    4.3.2 Inaccuracies in Precision Reporting
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product Type
    5.1.1 Monitoring ECG Systems
    5.1.1.1 Remote Data Monitoring
    5.1.1.2 Event Monitoring
    5.1.1.3 Continuous Cardiovascular Monitoring Systems
    5.1.2 Diagnostic ECG Systems
    5.1.2.1 Rest ECG Systems
    5.1.2.2 Stress ECG Systems
    5.1.2.3 Holter ECG Systems
    5.2 By End User
    5.2.1 Hospital
    5.2.2 Home-based User
    5.2.3 Other End Users
    5.3 Geography
    5.3.1 North America
    5.3.1.1 US
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Aerotel Medical Systems Ltd
    6.1.2 AliveCor Inc.
    6.1.3 BPL Medical Technologies
    6.1.4 Cardiocity Limited
    6.1.5 CardioComm Solutions Inc.
    6.1.6 GE Healthcare
    6.1.7 iRhythm Technologies Inc.
    6.1.8 MediBioSense Ltd
    6.1.9 Medtronic
    6.1.10 Nihon Kohden Corporation

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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