Mobile ECG Devices Market is expected to reach US$ 2,366.81 million by 2028

The mobile ECG devices market is projected to reach US$ 2,366.81 million by 2028; registering at a CAGR of 5.0% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

Handheld Segment to Hold the Major Market Share During 2022–2028

The report highlights the key factors driving the market growth and prominent players with their developments in the market.

Based on modality, the mobile ECG devices market is segmented into handheld, band, pen, and others. The handheld segment held the largest share of the market in 2021. The market growth for this segment is attributed to its wide applications in the diagnosis of cardiac disease and ease of carrying a handheld device. The device helps measure the electrical activity of the heart. It also offers various benefits such as simple-to-use, convenient, and cost- effectiveness. By using handheld devices, cardiac monitoring and recording can be done within minutes that helps detect heart conditions, such as cardiac arrhythmias. Further, the band segment is expected to register the highest CAGR during 2022–2028.

Mobile ECG Devices Market, by Region, 2021 (%)

Source: The Insight Partners Analysis

Impact of COVID-19 Pandemic on Mobile ECG Devices Market

Countries worldwide witnessed a huge challenge due to the growing COVID-19. Considering the economic operations and geographic conditions, the disease outbreak affected medical tourism, manufacturers of medical equipment, laser systems, accessories, and other problems posed by the shortage of healthcare infrastructure in low-income countries. According to WHO, due to the rapidly changing risk of COVID-19 affected countries and constantly controlling outbreak trends, additional health measures are likely to significantly interfere with international travel and trade. The ongoing COVID-19 pandemic created a seismic shift in living standards of the global population. China is specifically facing issues with the pandemic, leading to disruption of the supply chain, projected losses in revenue, marketing, and sales within all industries, as well as the concerns of health within the production units and other public places. However, the demand for mobile ECG devices has increased during the pandemic as the COVID patients have experienced the significant increase in cardiovascular problems. Thus, owing to these, it is likely to have opportunities for the market to bring its economy on track

The growth of the mobile ECG devices market is primarily attributed to factors such as increase in geriatric population and rise in incidence of cardiovascular diseases and heart-related conditions. However, stringent regulatory requirements and technical issues hinder the market growth. MD Biomedical Inc, CardioComm Solutions Inc, THOR, Koninklijke Philips NV, Bittium Biosignals LTD, Medtronic, AliveCor Inc, Nihon Kohden Corporation, EB Neuro SPA, Cardiocity Limited, and Preventice Solutions are among the leading companies operating in the market.

The report segments Mobile ECG devices market as Follows:

Based on modality, the mobile ECG devices market is segmented into handheld, pen, band, and others. Based on type, the market is bifurcated into monitoring ECG systems and diagnostics ECG systems. Based on end users, the market is segmented into personal users, hospitals and clinics, and ambulatory services.  By geography, the global mobile ECG devices market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherland, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, Thailand, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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