Owing to high prevalence of cardiovascular diseases (CVD), the global ECG devices market will chart significant growth over the coming few years. And, this will be further fuelled by increasing adoption if technology over across the globe in order to improve the medical outcomes.
The global ECG devices market is sett o chart promising growth over the forecast period of 2018 and 2026, as per a Transparency Market Research study. It is set to drive the market worth up to USD 6.79 billion by the end of the stated period.
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Rise in Geriatric Population to Propel Global ECG Devices Market on a High Growth Trajectory
It is no surprise that geriatric population is seeing a massive increase. In 2018, history was created when number of people aged 65 and above surpassed the number of people aged 5 and below. Besides, by 2050, it is predicted that some 2 billion people will be 60 and above – a steep rise from 900 million in 2015. Additionally, one in every six people in the world will be aged 65 and above by 2050 – a ratio that will be more pronounced in North America and Europe where every one in four people will belong in the said age group.
Couple this with a preference for minimally invasive diagnostic tools and one can note a rise in demand for ECG devices.
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Increase in Incidence of Cardiovascular Diseases (CVD) is Generating Demand for ECG Devices Market
Stressful work lives and poor diets are leading incidence of cardiovascular diseases to go up notably. Longer work days hurt health doubly. One, stress is a severe cause. Two, longer work hours makes people eat out more than what is considered healthy. Since, not a lot of people look forward to cooking nutritious meals, using fresh ingredients, after a hard day’s work.
As per a study by World Health Organization, or WHO, by 2030, cardiovascular disease will be the leading cause of death in the world.
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Global ECG Devices Market to Be Consolidated over the Forecast Period
The global ECG Devices Market witnesses a small number of players holding a large chunk of the market share. Some of the prominent names in the market landscape are GE Healthcare, Philips Healthcare, BioTelemetry Inc., Hill-Rom Holdings, Inc., Nihon Kohden Corporation, Schiller AG, and Spacelabs Healthcare. Others include Fukuda Denshi Co., Ltd, Mindray Medical International Limited, and CompuMed IncSome of the prominent strategies that players are opting for, in order to maintain an edge over competitors, include mergers and acquisitions and strategic partnerships and collaborations. Improving products through technological advancement also hold a prominent place in the overall scheme.
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North America and Europe to Hold a Massive Market Share
Owing to rising geriatric population and presence of major players in the region will lead to the prominent position in the global ECG Devices Market.
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