ECG Equipment Market SWOT Analysis by 2031
An ECG or electrocardiography equipment is used to perform ECG procedures to monitor and record the heart's electrical activity. ECG is a diagnostic tool used to perform an invasive procedure that helps to indicates heart-related diseases. ECG equipment consists of several leads connected to the human chest, legs, and arms to operate. These equipment are portable and smaller and require high-performance processing power, precision filtering, and integrated high-resolution graphics control, separated from the primary microcontroller device.
MARKET SCOPE
The "Global ECG Equipment Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the ECG equipment market with detailed market segmentation by product, end user, and geography. The report provides key statistics on the market status of the leading ECG equipment market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global ECG equipment market is segmented into holter monitors, stress ECG systems, resting ECG systems, others.
- Based on end user, the market is segmented into hospitals, and cardiac centers, ambulatory surgical centers, others.
MARKET DYNAMICS
Drivers:
- Increasing rate of heart diseases and growing geriatric population
- Promising government regulations regarding monitoring devices
- Growing technological advancements
Restraints
- High Cost of Equipment
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The ECG equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the ECG equipment market in these regions.
IMPACT OF COVID-19 ON ECG EQUIPMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several countries resulting in the temporary closure of numerous end-use industries for ECG equipment, thereby limiting the product demand. The impact of SARS-CoV-2 has changed across nations with alternating cardiovascular indications. The market payers from ECG equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for ECG equipment in the global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The ECG equipment market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the ECG equipment market in these regions.
IMPACT OF COVID-19 ON ECG EQUIPMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several countries resulting in the temporary closure of numerous end-use industries for ECG equipment, thereby limiting the product demand. The impact of SARS-CoV-2 has changed across nations with alternating cardiovascular indications. The market payers from ECG equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for ECG equipment in the global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the ECG equipment market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the ECG equipment market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Koninklijke Philips N.V.
- General Electric Company
- Compumed, Inc.
- Schiller
- Bio-Equip
- Welch Allyn
- Nihon Kohden Corporation
- Cardionet
- Spacelabs Healthcare
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 ECG Equipment Market - By Product
1.3.2 ECG Equipment Market - By End user
1.3.3 ECG Equipment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ECG EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ECG EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ECG EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. ECG EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. ECG EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ECG EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. HOLTER MONITORS
7.3.1. Overview
7.3.2. Holter Monitors Market Forecast and Analysis
7.4. STRESS ECG SYSTEMS
7.4.1. Overview
7.4.2. Stress ECG Systems Market Forecast and Analysis
7.5. RESTING ECG SYSTEMS
7.5.1. Overview
7.5.2. Resting ECG Systems Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. ECG EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS, AND CARDIAC CENTERS
8.3.1. Overview
8.3.2. Hospitals, and Cardiac Centers Market Forecast and Analysis
8.4. AMBULATORY SURGICAL CENTERS
8.4.1. Overview
8.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. ECG EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America ECG Equipment Market Overview
9.1.2 North America ECG Equipment Market Forecasts and Analysis
9.1.3 North America ECG Equipment Market Forecasts and Analysis - By Product
9.1.4 North America ECG Equipment Market Forecasts and Analysis - By End user
9.1.5 North America ECG Equipment Market Forecasts and Analysis - By Countries
9.1.5.1 United States ECG Equipment Market
9.1.5.1.1 United States ECG Equipment Market by Product
9.1.5.1.2 United States ECG Equipment Market by End user
9.1.5.2 Canada ECG Equipment Market
9.1.5.2.1 Canada ECG Equipment Market by Product
9.1.5.2.2 Canada ECG Equipment Market by End user
9.1.5.3 Mexico ECG Equipment Market
9.1.5.3.1 Mexico ECG Equipment Market by Product
9.1.5.3.2 Mexico ECG Equipment Market by End user
9.2. EUROPE
9.2.1 Europe ECG Equipment Market Overview
9.2.2 Europe ECG Equipment Market Forecasts and Analysis
9.2.3 Europe ECG Equipment Market Forecasts and Analysis - By Product
9.2.4 Europe ECG Equipment Market Forecasts and Analysis - By End user
9.2.5 Europe ECG Equipment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany ECG Equipment Market
9.2.5.1.1 Germany ECG Equipment Market by Product
9.2.5.1.2 Germany ECG Equipment Market by End user
9.2.5.2 France ECG Equipment Market
9.2.5.2.1 France ECG Equipment Market by Product
9.2.5.2.2 France ECG Equipment Market by End user
9.2.5.3 Italy ECG Equipment Market
9.2.5.3.1 Italy ECG Equipment Market by Product
9.2.5.3.2 Italy ECG Equipment Market by End user
9.2.5.4 Spain ECG Equipment Market
9.2.5.4.1 Spain ECG Equipment Market by Product
9.2.5.4.2 Spain ECG Equipment Market by End user
9.2.5.5 United Kingdom ECG Equipment Market
9.2.5.5.1 United Kingdom ECG Equipment Market by Product
9.2.5.5.2 United Kingdom ECG Equipment Market by End user
9.2.5.6 Rest of Europe ECG Equipment Market
9.2.5.6.1 Rest of Europe ECG Equipment Market by Product
9.2.5.6.2 Rest of Europe ECG Equipment Market by End user
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific ECG Equipment Market Overview
9.3.2 Asia-Pacific ECG Equipment Market Forecasts and Analysis
9.3.3 Asia-Pacific ECG Equipment Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific ECG Equipment Market Forecasts and Analysis - By End user
9.3.5 Asia-Pacific ECG Equipment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia ECG Equipment Market
9.3.5.1.1 Australia ECG Equipment Market by Product
9.3.5.1.2 Australia ECG Equipment Market by End user
9.3.5.2 China ECG Equipment Market
9.3.5.2.1 China ECG Equipment Market by Product
9.3.5.2.2 China ECG Equipment Market by End user
9.3.5.3 India ECG Equipment Market
9.3.5.3.1 India ECG Equipment Market by Product
9.3.5.3.2 India ECG Equipment Market by End user
9.3.5.4 Japan ECG Equipment Market
9.3.5.4.1 Japan ECG Equipment Market by Product
9.3.5.4.2 Japan ECG Equipment Market by End user
9.3.5.5 South Korea ECG Equipment Market
9.3.5.5.1 South Korea ECG Equipment Market by Product
9.3.5.5.2 South Korea ECG Equipment Market by End user
9.3.5.6 Rest of Asia-Pacific ECG Equipment Market
9.3.5.6.1 Rest of Asia-Pacific ECG Equipment Market by Product
9.3.5.6.2 Rest of Asia-Pacific ECG Equipment Market by End user
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa ECG Equipment Market Overview
9.4.2 Middle East and Africa ECG Equipment Market Forecasts and Analysis
9.4.3 Middle East and Africa ECG Equipment Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa ECG Equipment Market Forecasts and Analysis - By End user
9.4.5 Middle East and Africa ECG Equipment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa ECG Equipment Market
9.4.5.1.1 South Africa ECG Equipment Market by Product
9.4.5.1.2 South Africa ECG Equipment Market by End user
9.4.5.2 Saudi Arabia ECG Equipment Market
9.4.5.2.1 Saudi Arabia ECG Equipment Market by Product
9.4.5.2.2 Saudi Arabia ECG Equipment Market by End user
9.4.5.3 U.A.E ECG Equipment Market
9.4.5.3.1 U.A.E ECG Equipment Market by Product
9.4.5.3.2 U.A.E ECG Equipment Market by End user
9.4.5.4 Rest of Middle East and Africa ECG Equipment Market
9.4.5.4.1 Rest of Middle East and Africa ECG Equipment Market by Product
9.4.5.4.2 Rest of Middle East and Africa ECG Equipment Market by End user
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America ECG Equipment Market Overview
9.5.2 South and Central America ECG Equipment Market Forecasts and Analysis
9.5.3 South and Central America ECG Equipment Market Forecasts and Analysis - By Product
9.5.4 South and Central America ECG Equipment Market Forecasts and Analysis - By End user
9.5.5 South and Central America ECG Equipment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil ECG Equipment Market
9.5.5.1.1 Brazil ECG Equipment Market by Product
9.5.5.1.2 Brazil ECG Equipment Market by End user
9.5.5.2 Argentina ECG Equipment Market
9.5.5.2.1 Argentina ECG Equipment Market by Product
9.5.5.2.2 Argentina ECG Equipment Market by End user
9.5.5.3 Rest of South and Central America ECG Equipment Market
9.5.5.3.1 Rest of South and Central America ECG Equipment Market by Product
9.5.5.3.2 Rest of South and Central America ECG Equipment Market by End user
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ECG EQUIPMENT MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ECG EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. KONINKLIJKE PHILIPS N.V.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GENERAL ELECTRIC COMPANY
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. COMPUMED, INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SCHILLER
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. BIO-EQUIP
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. WELCH ALLYN
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. NIHON KOHDEN CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. CARDIONET
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SPACELABS HEALTHCARE
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Koninklijke Philips N.V.
2. General Electric Company
3. Compumed, Inc.
4. Schiller
5. Bio-Equip
6. Welch Allyn
7. Nihon Kohden Corporation
8. Cardionet
9. Spacelabs Healthcare
10. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
11. AliveCor
12. Tenko International
13. iRhythm Technologies
14. Planexta
15. MGC Diagnostics
16. Beurer
17. DailyCare BioMedical
18. Edan Instruments
19. Fukuda Denshi
20. Medicomp
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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