An electrocardiogram is a medical device that records the different types of electrical signals in the human heart. It is also used to keep a constant check on the human heart signals when they are under observation. They can be used to detect heart problems and see if there are any abnormalities. Being a painful way of recording electric signals, it is used in different types of medical institutions today. Globally, the Electrocardiograms have gotten huge in number. From the following graphs, we can evaluate Electrocardiograms in the form of numbers.
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Size of Electrocardiogram Market Worldwide 2019 vs 2030
Ever since its production, the market size for Electrocardiogram equipment has increased substantially and is expected to rise in the coming many years. Several developments have made it a much better and more efficient way to diagnose different types of heart problems and irregularities. From the graph, we can see that the size of the electrocardiogram market as of 2019 was $5.37 billion. In 2030, it is expected to cross $8.87 billion which is more than a 50% increase. This shows that the overall market for electrocardiograms is increasing at a rapid pace.
Average Price for Resting ECG Devices in 2017 and Forecast of 2026
An electrocardiogram is performed with a specific device which is usually available in the large hospitals only and not the smaller clinics. The main reason for this is because these machines are currently too expensive. From the graph, we can see that the minimum price of an ECG device as of 2017 was $3834 in the Asian Region while the American Region had a price between $4,777 and $5,898. According to Forecasts, it is expected that this price is going to fall to $2086 by 2026 in the Asian Region while the American Region will have it between $2,644 and $3,252. This price fall is most likely going to occur because more companies are going to enter this market and develop efficient manufacturing processes for ECG devices.
North American Market Share of Cardiac Arrhythmia Devices – 2017 vs 2026
North America has one of the most significant market shares for the different types of Arrhythmia devices. However, from the current data and forecasts, a major increase is not expected. This can also be evaluated from the graph. The ECG Testing Device has a market share of 19.2% as of 2017 and is expected to be at 19.3% in 2026. For the case of Implantable Cardiac Monitoring Devices, there is a fall expected between the same period from 26.8% to 25.5%. Event recorders are likely to have an increased market share from 26.7% to 29%. Lastly, Mobile Cardiac Terimotory Monitors will also show a slight increase from 13.2% to 13.8%.