- Demand for the single-lead ECG monitors remains high.
- There are fewer players present in the single-lead ECG monitors market at regional as well as international scale.
- North America is anticipated to remain the highest consumer base region for the single-lead ECG monitors market.
According to the latest market report published by Research Report Insights (RRI) titled ‘Single-lead ECG Monitors Market’, the market is poised to expand at a CAGR of 9.9% over the forecast period (2017–2025).
The global single-lead ECG monitors market is expected to exceed $733.7 million by 2025, attesting the highest growth of both the product segment. The global single-lead ECG monitors market is expected to expand at 9.9% CAGR over the forecast period. Certain factors such as increasing inclination of physicians, patients and care givers towards portable and handled monitors to diagnose any patient immediately, increasing incidence of cardiovascular diseases, rising awareness, support from various government and non-government organizations, new product approvals & launches, increasing focus on evident based medicines etc. are growing the market. However, insufficient R&D initiatives, poor access to diagnostic services in remote areas, and stringent regulations are some of the elements restricting the market growth.
The report analyzes single-lead ECG monitors market in terms of value by product type, application, end user and region. The report also provides information regarding market dynamics, opportunity analysis, macro-economic factors, regulations, competitive landscape, current trends, market estimation and forecast, technology assessment, major deals in the single-lead ECG monitors market etc.
On the basis of product type, the market has been segmented recording based single-lead ECG monitors and real-time single-lead ECG monitors. Recording based single-lead ECG monitors segment dominates the single-lead ECG monitors market with maximum market share expected to remain highest over the forecast period owing to the huge product availability as well as high physician’s preference for this test type. However, real-time single-lead ECG monitors segment is observed as the highest growing segment over the forecast period with the growing acceptance of portable handheld technology in diagnosis owing to its high sensitivity, specificity and , real-time analysis less time consumption.
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In terms of value, North America market has the highest share for single-lead ECG monitors followed by Europe over the forecast period of 2017–2025. In terms of growth rate, Asia pacific leads with a CAGR of 11.3% with the budding innovator of affordable single-lead ECG monitors for diagnosis and increasing number of patient pool. Latin America and MEA holds the least market share in the global market due to less presence of companies in the region. The overall Global market for single-lead ECG monitors is anticipated to expand at a significant growth rate over the forecast period providing huge market opportunities.
Key Research Findings
• Demand for the single-lead ECG monitors remains to be high through 2025, registering a CAGR of 9.9% over the forecast period because of increasing demand as well as supply side growth drivers and trends
• With the high number of patient suffering from atrial fibrillation, hence the upsurge has been noted in this segment
• The products are adopted by physicians and hospital facilities, however home care settings expected to mark significant growth in coming future
• There are less players present in the single-lead ECG monitors market at regional as well as international scale. Acquisitions, mergers, expansion, product launches and adoption of new technologies are the key strategies adopted by manufacturers and distributors to increase consumer base in different geographies
• North America is anticipated to remain the highest consumer base region for the single-lead ECG monitors market
Major players for single-lead ECG monitors market covered in the report DailyCareBioMedical Inc., Shenzhen Creative Industry Co. Ltd., AliveCor Inc., Medtronic Plc., LifeWatch AG, OMRON Healthcare, Lohman Technologies (Cardiac Advancements LLC), iRhythm Technologies Ltd., Reka Health Pte Ltd., Beijing Choice Electronic Tech Co., Ltd (ChoiceMMed) , DIMETEK Digital Medical Technologies, Ltd., Cardiac Design Labs , Lyfas, Acculi Labs Pvt. Ltd. India, Vital Connect Inc. , Qardio, Inc., ProtoCentral, and NUUBO Smart Solutions Technologies, SL.
Global single-lead ECG monitors market is segmented as follows:
By Test Type
• Recording Based Single-lead ECG Monitors
• Real-time Single-lead ECG Monitors
• Atrial Fibrillation
• Conduction Disorders
By End User
• Hospital Facilities
• Home Care Settings
• Other End Users
• North America
• Latin America
• Middle East & Africa