According to MRFR analysis, Global Diagnostic Electrocardiograph (ECG) Market is expected to register a CAGR of 6.72% during the forecast period of 2019 to 2025 and reach USD 10,487.24 Million by 2025.
However, the dearth of skilled professionals, uncertainty in market saturation & economic circumstances, and irregular reimbursement policies are expected to restrain the growth of the global diagnostic electrocardiograph (ECG) market.
A diagnostic electrocardiograph (ECG) is a test that is used for the detection of electrical signals that are produced by the heart every time it beats.
The growth of the global diagnostic electrocardiograph (ECG) market can be contributed to the increasing prevalence of cardiovascular diseases, rising geriatric population, and the developing healthcare infrastructure.
According to data published by the World Health Organization (WHO), in February 2018, the world’s population over 60 years is expected to double from 12% in 2015 to 22% in 2050.
Several market players such as Koninklijke Philips N.V., General Electric Company, and Nihon Kohden Corporation, among others currently dominate the global diagnostic electrocardiograph (ECG) market. The key players are involved in awareness campaigns, mergers, and strategic collaborations to strengthen their market positions. For instance, in May 2018, General Electric Company collaborated with Preventice Solutions, to expand its ECG services and create a more holistic solution for monitoring its ambulatory ECG patients.