How Much Growth is Expected in the Mobile ECG Devices Market by 2025 and 2029?
The mobile ECG devices market size has grown noticeably in recent years, expanding from $115.35 billion in 2024 to a projected $122.18 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. This growth during the historic period has been driven by factors such as smartphone integration, clinical validation and research, increased adoption of telemedicine, advancements in technology, growing health consciousness among the population.
Furthermore, the mobile ECG devices market size is expected to witness robust growth, reaching $166.82 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. This forecasted expansion can be attributed to an increase in the incidence of cardiovascular diseases, an aging population, expansion of telehealth services, heightened consumer health awareness, and ensuing digital health initiatives. Key trends driving this growth include the rise of personalized healthcare solutions, regulatory advancements, deeper penetration in emerging economies, focus on user-friendly design, and home healthcare expansion.
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What are the Key Drivers for the Mobile ECG Devices Market?
The rising incidence of heart-related conditions is expected to significantly propel the growth of the mobile ECG devices market. Mobile ECG devices are primarily used for the diagnosis of heart disorders like myocardial infarction and cardiac arrhythmias, enabling more effective monitoring and management of these diseases. For example, in 2022, the Centers for Disease Control and Prevention reported that heart disease led to a staggering 702,880 deaths, making up 1 in every 5 fatalities in the United States. Given this scenario, the mobile ECG devices market stands to gain from the rising prevalence of heart-related conditions and the consequent demand for effective diagnosis and monitoring solutions.
What are the Key Segments of the Mobile ECG Devices Market?
The mobile ECG devices market report covers the following segments:
1) By Type: Monitoring ECG Systems, Diagnostics ECG Systems
2) By Modality: Handheld, Pen, Band, Other Modalities
3) By End User: Personal Users, Hospitals, Clinics, Ambulatory Services
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Who are the Key Players in the Mobile ECG Devices Market?
Major companies operating in the mobile ECG devices market include Medtronic PLC, Koninklijke Philips N.V., GE Healthcare, Omron Corporation, Mindray Medical International Limited, ZOLL Medical Corporation, Nihon Kohden Corporation, Spacelabs Healthcare, Biotronik SE & Co KG, Fukuda Denshi Co. Ltd., and several others. These companies are making considerable inroads in the market, contributing to its growth.
What are the Emerging Trends in the Mobile ECG Devices Market?
The mobile ECG devices market signals a strong trend of technological advancements, with major players incorporating cutting-edge technologies to secure their position in the market. For instance, in February 2022, AliveCor Inc., a U.S-based medical device and AI firm, unveiled the KardiaMobile Card, a reputedly first-of-its-kind personal ECG device. This development highlights how technological advancements are shaping competition and trends in the market.
Which Region is Expected to Lead the Mobile ECG Devices Market?
North America held the largest share of the mobile ECG devices market in 2024. However, the Asia-Pacific region is expected to witness the fastest growth during the forecast period. The report accounts for the mobile ECG devices market across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Mobile ECG Devices Global Market Report 2024 Report Offer?
Mobile ECG (electrocardiogram) devices refer to portable ECG monitoring devices used outside a clinical setting to capture and evaluate the heart’s electrical activity. Easy-to-use, lightweight, and portable, these devices are ideal for taking ECG readings at home or on the go. They offer a comprehensive diagnostic approach for diagnosing arrhythmias, thereby ensuring efficient home-based heart monitoring, complete data, analysis, and reporting. The Mobile ECG Devices Global Market Report 2024 research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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