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Electrocardiogram (ECG) Devices Market Size
- Report ID: GMI5425
- Published Date: Feb 2023
- Report Format: PDF
Electrocardiogram Devices Market Size
Electrocardiogram Devices Market size was worth more than USD 7 billion in 2022 and is projected to record a 4% CAGR from 2023-2032. Rising prevalence of cardiovascular diseases will accelerate industry trends.
Rising prevalence of cardiovascular disorders is expected to have a substantial impact on the industry dynamics. In recent years, the number of people suffering from cardiovascular disorders surged significantly with the rapid adoption of sedentary lifestyles, poor dietary patterns, and excessive consumption of alcohol. According to the Centers for Disease Control and Prevention (CDC), by the end of 2030, the U.S. is estimated to have more than 12 million cases of atrial fibrillation. Additionally, the rapid digitization and automation of healthcare facilities to provide next-generation cardiac care with enhanced operational capabilities will complement the market progression.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Electrocardiogram Devices Market Size in 2022: | USD 7 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 10.5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 310 |
| Tables, Charts & Figures: | 728 |
| Segments covered: | Product, Lead Type, Portability, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Lack of skilled professionals to restrain electrocardiogram devices market growth
The ongoing advances in medical devices and the rapid integration of next-generation technologies, such as artificial intelligence (AI) and robotics have fueled the requirement for highly skilled professionals. The dearth of proper technical expertise increases the risk of errors while handling sophisticated technologies, leading to hampered output. Various countries across the globe are experiencing a shortage of health aides, physicians, and nurses. For instance, as per the Association of American Medical Colleges (AAMC) projections from 2019 to 2034, the U.S. is anticipated to experience a shortage of between 37,800-124,000 physicians within a span of 12 years. Hence, the scarcity of skilled healthcare personnel may present a major challenge for the ECG devices industry.
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Electrocardiogram Devices Market Scope
