ecg monitoring equipment market

Electrocardiogram (ECG) monitoring equipment market by Product (Resting ECG Systems, Stress ECG Systems, Holter Monitors, and Cardiopulmonary Stress Testing System), Type (Single Lead, 3-6 Lead, and 12-Lead), Modality Type (Portable, Stationary, and Wearables), End-Users (Hospitals, Home-based Users, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of cardiovascular diseases and its risk factors, technological advancement in product development, and growing awareness regarding cardiovascular diseases across the globe.

The Electrocardiogram (ECG) monitoring equipment market was valued at USD 4.44 billion in 2023, growing at a CAGR of 5.74% during the forecast period from 2024 to 2030 to reach USD 6.20 billion by 2030. The global increase in the incidence of cardiovascular diseases (CVDs) due to lifestyle changes, smoking, lack of physical activities, excessive alcohol consumption, obesity, and other factors are escalating the global market of Electrocardiogram (ECG) monitoring equipment. Additionally, public health campaigns and initiatives aimed at raising awareness about cardiovascular health encourage individuals to undergo regular check-ups and screenings. Increased public knowledge about the importance of early detection and management of heart diseases leads to higher utilization of cardiovascular imaging services. Furthermore, key market players continuously investing in research and development to introduce innovative Electrocardiogram (ECG) monitoring equipment, increased partnerships and collaborations, product launches, and approvals ensure that the market remains dynamic and innovative, during the forecast period from 2024 to 2030.

Electrocardiogram (ECG) Monitoring Equipment Market Dynamics:

According to the recent data provided by the British Heart Foundation (2024), globally, approximately 620 million people, or about 1 in 13 individuals, live with heart and circulatory diseases. Additionally, as per the same source, the prevalence of heart and circulatory diseases was 100 million in Europe and 340 million in Asia and Australia in 2021.

Furthermore, as per the recent data provided by the British Heart Foundation (2024), coronary (ischemic) heart disease, the most commonly diagnosed worldwide, affects an estimated 200 million people globally. Approximately 110 million men and 80 million women are affected. Additionally, around 56 million women and 45 million men are stroke survivors. It's estimated that at least 13 million people worldwide live with congenital heart disease, with potentially millions more undiagnosed.

The above-mentioned facts state the dire need for measures to address the rising disease burden of CVDs across the globe. Indications such as atherosclerosis, and arrhythmias can affect the quality of life of patients. Furthermore, in many cases, the severity of CVDs can be reduced by regular monitoring of cardiac rhythms and activities. This can be achieved by deploying Electrocardiogram (ECG) monitoring equipment. These devices enable healthcare providers as well as patients to diagnose the defects of the conduction system as per the need, thereby helping in the improvement of disease prognosis as well helping in early disease diagnosis. Therefore, the global Electrocardiogram (ECG) monitoring equipment market is expected to witness remarkable growth during the forecast period.

Additionally, technological advancements play a pivotal role in accelerating the market growth of Electrocardiogram (ECG) monitoring equipment by enhancing diagnostic accuracy, speed, and patient outcomes. For instance, in June 2021, South Korean AI developer VUNO Inc. announced that the Korean Ministry of Food and Drug Safety (KFDA) had designated its AI-based ECG analysis software, VUNO Med®-DeepECG™, as the ministry's 16th Breakthrough Device. Utilizing deep learning, the software analyzed ECG data to detect heart failure, myocardial infarction, and arrhythmia.

Thus, the factors mentioned above are likely to boost the market of Electrocardiogram (ECG) monitoring equipment during the forecasted period.

However, the stringent regulatory approvals and lack of healthcare infrastructure in developing economies may hinder the future market of Electrocardiogram (ECG) monitoring equipment.

ECG Monitoring Equipment Market Segment Analysis:

Electrocardiogram (ECG) Monitoring Equipment Market by Product (Resting ECG Systems, Stress ECG Systems, Holter Monitors, and Cardiopulmonary Stress Testing System), Type (Single Lead, 3-6 Lead, and 12-Lead), Modality Type (Portable, Stationary, and Wearables), End-Users (Hospitals, Home-based Users, Ambulatory Surgical Centers, Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product segment of the Electrocardiogram (ECG) monitoring equipment market, Holter monitors are projected to hold a considerable market share in 2023. Holter monitors have been the most commonly used device to detect abnormal heart functioning in patients. They also help in diagnosis and in maintaining the normal functioning of the heart. These devices are generally found in hospital setups and have been the conventional and most preferred mode of Electrocardiogram (ECG) monitoring of patients. The diagnostic and monitoring capabilities of the new generation of portable and compact Holter ECGs are significantly boosting their adoption, particularly in the home healthcare segment. These portable Electrocardiogram (ECG) devices record the heart's electrical activity continuously for 24 hours or more. The Holter ECG's advantages, such as continuous monitoring and ease of use, contribute to its dominance in the market. Holter monitors are essential for monitoring chronic conditions such as atrial fibrillation or assessing treatment effectiveness over time, contributing to personalized patient care strategies. Furthermore, patients can continue their daily routines while wearing a Holter monitor, promoting comfort and compliance with extended monitoring protocols compared to traditional inpatient Electrocardiogram (ECG) tests.

Additionally, the collaborations between the companies that manufacture the Holter ECG devices will augment the growth of this segment. For instance, in September 2021, Astellas Pharma, Nitto Denko Corporation, and M. Heart Co., Ltd signed a memorandum of understanding to explore an ECG testing service. As part of this agreement, Astellas, Nitto, and M. Heart will investigate the development and manufacturing of the 'EG Holter,' an innovative disposable Holter ECG device, by Nitto.

Therefore, owing to the above-mentioned factors, the Holter monitor category is expected to generate considerable revenue thereby pushing the overall growth of the global Electrocardiogram (ECG) monitoring equipment market during the forecast period.

North America is expected to dominate the Overall ECG Monitoring Equipment Market:

North America is expected to account for the highest proportion of the Electrocardiogram (ECG) monitoring equipment market in 2023, out of all regions. The growing prevalence of cardiovascular diseases, access to better healthcare infrastructure, and growing awareness regarding cardiac diseases coupled with the presence of major Electrocardiogram (ECG) monitoring equipment market players in the region are predicted to be the major influencing factors in driving the overall growth of the Electrocardiogram (ECG) monitoring equipment market over the forecast period.

According to recent data from the British Heart Foundation (2024), in 2021 the estimated prevalence of heart and circulatory disease in North America was 48 million.

Additionally, as per the recent data provided by the Centre for Disease Control and Prevention (2024), in 2022, approximately 4.9% of adults have been diagnosed with coronary heart disease. Physician offices record around 13.0 million visits annually where coronary atherosclerosis and chronic ischemic heart disease are the primary diagnoses. Additionally, 6.9% of visits indicate coronary artery disease, ischemic heart disease, or a history of myocardial infarction in the medical records. Thus, the increase in cardiac diseases increases the demand for Electrocardiogram (ECG) monitoring equipment, as this increases the need for Electrocardiogram (ECG) monitoring equipment for both initial diagnosis and continuous management thereby boosting the market.

Additionally, the awareness programs in the United States aimed at addressing cardiac diseases focus on education, prevention, and early detection also boosts the market of Electrocardiogram (ECG) monitoring equipment across the region as public awareness campaigns educate individuals about the importance of regular screenings and preventive measures. For example, February is designated as American Heart Month, during which various organizations, including the American Heart Association (AHA) and the Centers for Disease Control and Prevention (CDC), promote awareness through campaigns, events, and educational materials. These efforts emphasize the importance of heart health, risk factors, and preventive measures.

Additionally, several key market players in the country are focusing on developing innovative products and technologies to stay competitive, while others are forming strategic partnerships and acquisitions which are further propelling the market across the region. For example, in June 2022, the United States Food and Drug Administration approved Qpatch, an ECG wearable unit created by experts at Medicalgorithmics. According to the company, Qpatch is designed to measure individual ECG signals accurately, aiding in the precise diagnosis of cardiac arrhythmias. Furthermore, in December 2021, Implicity obtained FDA clearance for a new medical algorithm that analyzes ECG data from Implantable Loop records (ILRs). Additionally, in July 2021, EchoNous, the leader in ultra-portable, AI-guided point-of-care ultrasound (POCUS) tools and software, announced that the company has partnered with Singapore-based Us2.ai, developers of machine learning-driven software that automates the analyses of echocardiographic imagery and measurements.

Therefore, the above-mentioned factors are expected to bolster the growth of the Electrocardiogram (ECG) monitoring equipment market in North America during the forecasted period.

ECG Monitoring Equipment Market Key Players:

Some of the key market players operating in the Electrocardiogram (ECG) Monitoring Equipment market include General Electric Company (GE Healthcare), Schiller AG, Koninklijke Philips N.V., Nihon Kohden Corporation, Customed GmbH, CORTEX Biophysik GmbH, Welch Allyn®, Norav Medical, Neurosoft, ACS Diagnostics, Medtronic, Microport Scientific Corporation, LUMED srl Sede legale, iRhythm Technologies, Inc., Implicity, Mindray Medical International Limited, Hill-Rom Holdings, Inc., OSI System Inc., VUNO Inc., AliveCor, and others.

Recent Developmental Activities in ECG Monitoring Equipment Market:

• In January 2025, Inmedix®, Inc. announced that the FDA cleared its Inmedix CloudHRV™ System for U.S. commercialization. This is the first cloud-based heart rate variability (HRV) diagnostic system calculated from a high-fidelity 5-minute ECG, including Bayefsky indices of parasympathetic and sympathetic activity.
• In February 2022, AliveCor, a top innovator in FDA-cleared personal ECG technology, launched the KardiaMobile Card, the slimmest and most convenient personal ECG device available.
• In January 2022, Royal Philips, a global leader in health technology, introduced the industry's first comprehensive at-home 12-lead ECG solution designed for decentralized clinical trials.
• In August 2021, Leading smart home medical devices brand Wellue officially announced the launch of its ECG Recorder with AI Analysis.
• In July 2021, two artificial intelligence (AI) algorithms designed to diagnose people with heart rhythm abnormalities have been approved by the FDA for use with Medtronic’s LINQ II cardiac monitor. The AccuRhythm algorithms will be released later this year for use by all implanted LINQ II devices in the US.

Report Metrics	Details
Study Period	2020 to 2030
Base Year	2022
Forecast Period	2024 to 2030
CAGR	5.74%
Market Size	USD 6.20 billion by 2030
Key Companies	General Electric Company (GE Healthcare), Schiller AG, Koninklijke Philips N.V., Nihon Kohden Corporation, Customed GmbH, CORTEX Biophysik GmbH, Welch Allyn®, Norav Medical, Neurosoft, ACS Diagnostics, Medtronic, Microport Scientific Corporation, LUMED srl Sede legale, iRhythm Technologies, Inc., and Several Others

Key Takeaways from the ECG Monitoring Equipment Market Report Study

• Market size analysis for current Electrocardiogram (ECG) Monitoring Equipment size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years.
• Key companies dominating the Electrocardiogram (ECG) Monitoring Equipment market.
• Various opportunities available for the other competitors in the Electrocardiogram (ECG) Monitoring Equipment market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Electrocardiogram (ECG) Monitoring Equipment market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Electrocardiogram (ECG) Monitoring Equipment market growth in the coming future?

Target Audience who can be benefited from this ECG Monitoring Equipment Market Ket Report Study

• Electrocardiogram (ECG) Monitoring Equipment product providers
• Research organizations and consulting companies
• Electrocardiogram (ECG) Monitoring Equipment -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in Electrocardiogram (ECG) Monitoring Equipment
• Various end-users who want to know more about the Electrocardiogram (ECG) Monitoring Equipment market and the latest technological developments in the Electrocardiogram (ECG) Monitoring Equipment market.

Frequently Asked Questions for ECG Monitoring Equipment Market:

1. What are Electrocardiogram (ECG) Monitoring Equipment?

An electrocardiogram (ECG or EKG) records an electrical pulse from the heart. It is the most important test for heart rhythm perception, myocardial ischemia, and infarction diagnosis, defects of the conduction system, preexcitation, long QT syndromes, atrial abnormalities, pericarditis, ventricular hypertrophy, and other disorders.

2. What is the market for Electrocardiogram (ECG) Monitoring Equipment?

The Electrocardiogram (ECG) Monitoring Equipment Market was valued at USD 4.44 billion in 2023, growing at a CAGR of 5.74% during the forecast period from 2024 to 2030, to reach USD 6.20 billion by 2030.

3. What are the drivers for the Electrocardiogram (ECG) Monitoring Equipment market?

The global increase in the incidence of cardiovascular diseases (CVDs) due to lifestyle changes, smoking, lack of physical activities, excessive alcohol consumption, obesity, and other factors are escalating the global market of Electrocardiogram (ECG) Monitoring Equipment. Additionally, public health campaigns and initiatives aimed at raising awareness about cardiovascular health encourage individuals to undergo regular check-ups and screenings. Increased public knowledge about the importance of early detection and management of heart diseases leads to higher utilization of cardiovascular imaging services. Furthermore, key market players continuously investing in research and development to introduce innovative Electrocardiogram (ECG) Monitoring Equipment, increased partnerships and collaborations, product launches, and approvals ensure that the market remains dynamic and innovative, during the forecast period from 2024 to 2030.

4. Who are the key players operating in the Electrocardiogram (ECG) Monitoring Equipment market?

Some of the key market players operating in the Electrocardiogram (ECG) Monitoring Equipment market include General Electric Company (GE Healthcare), Schiller AG, Koninklijke Philips N.V., Nihon Kohden Corporation, Customed GmbH, CORTEX Biophysik GmbH, Welch Allyn®, Norav Medical, Neurosoft, ACS Diagnostics, Medtronic, Microport Scientific Corporation, LUMED srl Sede legale, iRhythm Technologies, Inc., Implicity, Mindray Medical International Limited, Hill-Rom Holdings, Inc., OSI System Inc., VUNO Inc., AliveCor, and others.

5. Which region has the highest share in the Electrocardiogram (ECG) Monitoring Equipment market?

North America is expected to account for the highest proportion of the Electrocardiogram (ECG) Monitoring Equipment market in 2023, out of all regions. The growing prevalence of cardiovascular diseases, access to better healthcare infrastructure, and growing awareness regarding cardiac diseases coupled with the presence of major ECG monitoring equipment market players in the region are predicted to be the major influencing factors in driving the overall growth of the ECG monitoring equipment market over the forecast period.