Press Release

The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the Global Wireless Electrocardiography (ECG) Market from US$ 1,576 Mn in 2021 to US$ 2,297.5 Mn by 2027. The market is registering a CAGR of 6.5% during the forecast period 2022-2027. A wireless electrocardiogram (ECG) is a medical device used for reading electrical signals in the heart, taken with electrodes that transmit signals wirelessly to a base unit like a computer. The market is majorly driven by factors such as the rising need for continuous cardiovascular monitoring ECG systems and advanced technological aspects. 

The continuous cardiovascular monitoring ECG systems segment is expected to drive the growth 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’ hearts during their daily routines. 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. Moreover, technological advancements of ECG devices like portability, handheld, novel electrodes & sensors, and smart phone integration are likely to contribute to the market growth. Furthermore, rising government investment, supporting R&D activities along with rising per capita healthcare expenditure globally will accelerate wireless ECG devices market growth. However, high cost for buying and maintaining, and lack of technical skills are hindering the market growth.

Recent Developments in the Global Wireless Electrocardiography (ECG) Market

• BioTelemetry, Inc., in 2019, started the “Heart for Hope” initiative, whereby the company is committed to fund life-saving heart procedures for children in need. To date, the company funded around 200 surgeries for children from parts of the Southeast Asia region whose families do not have enough resources to do so.
• In February 2021, Cardioline has collaborated with A.M.P.S. LLC and started working together to deliver joint solutions across the clinical trials market.
• EDAN Instruments has unveiled its next-generation diagnostic ultrasound system Acclarix LX9 at Arab Health 2020, making the company a headliner among the exhibitors in the Imaging & Diagnostic sector.
• In 2017, Hill Rom’s Welch Allyn business has unveiled a PC-based testing electrocardiograph (ECG), namely Connex Cardio ECG. This device would help to enhance clinician decision-making capabilities and simplify clinical workflows. 
• OMRON is developing a remote patient monitoring service that allows patients to measure vital signs at home using its blood pressure monitor, ECG monitor, and/or a body composition monitor with scale and share the data with their physicians/nurses in a timely manner. 

Regional Analysis

North America dominates the Global Wireless Electrocardiography (ECG) Market in 2021

North America dominates the Global Wireless Electrocardiography (ECG) Market in 2021 and is expected to continue its dominance over the forecast period 2022-2027. The adoption of sedentary lifestyle including lower physical activity and unhealthy diet has led to rise in the rate of cardiac diseases in the region. 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 North America wireless ECG market is expected to grow. The US is leading North America Global Wireless Electrocardiography (ECG) Market and expected to create a significant growth opportunity of US$ 258 Mn over the forecast period.

UK Wireless Electrocardiography (ECG) Market will be led by home-based setting during the forecast period

In terms of end user, home based segment will be the gamechanger in the UK Wireless Electrocardiography (ECG) Market during the forecast period 2022-2027. Increase in the rate of cardiovascular diseases combined with increasing awareness of the different solutions to track ECG levels for continuous monitoring and its benefits has helped the adoption of mobile ECG devices by personal users in the UK.

Monitoring ECG systems has the fastest CAGR in Japan Wireless Electrocardiography (ECG) Market

Japan is the globe’s fastest ageing country and therefore has increased incidence of cardiovascular diseases. Hence, 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.

India Wireless Electrocardiography (ECG) Market will flourish during the forecast period

The results of global burden of disease study state age-standardized cardiovascular death rate of 272 per 1,00,000 population in India which is much higher than that of global average of 235. Within India, the rates of CVD vary markedly with highest in states of Kerala, Punjab and Tamil Nadu. Moreover, these states also have the highest prevalence of raised cholesterol levels and blood pressure. This creates the need for continuous cardiovascular monitoring, thereby pushing the demand of wireless Electrocardiography (ECG) devices

Competitive Landscape

• ACS Diagnostics is a medical laboratory involved in designing ECG devices and monitors, such as cardiac outpatient real-time, Holter monitors, and so on. The company’s CORE12 monitor mainly streamlines and integrates all forms of ECG into one device through using cell phone transmission, and therefore, eliminating a gateway device. 
• AliveCor, Inc. is a US based company, has a device and application that will turn any smartphone into a clinical-quality electrocardiogram (ECG) recorder. 
• Cardioline S.p.A. is an Italian company that is involved in the business of electrocardiography (ECG) and has developed its market reputation through the design and production of highly performing electrocardiographic systems and solutions. 
• Fukuda Denshi Co., Ltd. manufactures and supplies electronic equipment for medical use across the globe. The company's products portfolio includes a range of electrocardiograph, phonocardiogram, ultrasonic diagnosis systems, physical condition monitoring systems, pacemakers, and respirators.
• Hill-Rom Holdings, Inc. manufactures equipment for the healthcare industry and provides wound care, pulmonary, and trauma management services. 
• Medtronic is a medical device company. The company usually operates through four segments, including cardiac & vascular group, minimally invasive therapies group, restorative group, and diabetes group.

Segmentation Overview of the Global Wireless Electrocardiography (ECG) Market

The Global Wireless Electrocardiography (ECG) Market is segmented based on type, modality, lead type, end user, and region. These segments are further sub-divided to get a holist picture of the market.  

Following are the different segments of the Global Wireless Electrocardiography (ECG) Market:

By Type segment of the Global Wireless Electrocardiography (ECG) Market is sub-segmented into:

• Monitoring ECG Systems
  • Remote Data Monitoring
  • Event Monitoring
  • Continuous Cardiovascular Monitoring Systems
• Diagnostic ECG Systems
  • Rest ECG Systems
  • Stress ECG Systems
  • Holter ECG Systems

By Modality segment of the Global Wireless Electrocardiography (ECG) Market is sub-segmented into:

• Hand-held
• Pen 
• Band

By Lead Type segment of the Global Wireless Electrocardiography (ECG) Market is sub-segmented into:

• 12-lead
• 5-lead
• 3-lead
• 6-lead
• Single lead
• Other Lead Types

By End User segment of the Global Wireless Electrocardiography (ECG) Market is sub-segmented into:

• Hospitals, Clinics, & Cardiac Centers
• Home-based setting
• Ambulatory Surgical Centers
• Other End Users

By Region segment of the Global Wireless Electrocardiography (ECG) Market is sub-segmented into:

• North America
  • The U.S.
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland 
  • Russia
  • NORDICS
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
• Rest of the World
  • Middle East & Africa
  • South America

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