Wireless ECG Devices Market Size is slated to gain significant traction from 2022 to 2028, owing to the significant usage benefits of portable ECG devices, including small-size and seamless recording of heart rate and waveform. In addition, the capability of wireless ECG machines to detect various medical conditions like arrhythmias, coronary heart diseases, heart attacks, and cardiomyopathy will further amplify the market outlook in the forthcoming years. An ECG or electrocardiogram refers to a test used to detect the rhythm and electrical activity of the heart via sensors attached to the skin. This device can be used alongside other tests to monitor symptoms of a possible heart problem, such as shortness of breath, dizziness, palpitations, and chest pain.
Rising healthcare spending on cardiovascular diseases (CVDs) treatment is one of the key factors bolstering the wireless ECG devices market trends between 2022 and 2028. According to the American Heart Association Report, CVDs accounted for more than $320 billion of healthcare expenditures and other related expenses annually. Such a factor, coupled with the escalating adoption of remote patient monitoring technologies for improved care, will further provide growth opportunities for the market during the projected timeframe.
On the basis of product, the wireless ECG devices industry from the stress ECG systems segment will exhibit a high growth rate through 2028. The segmental expansion is on account of the ability of the stress tests to diagnose coronary heart diseases, detect heart rhythm problems, and guide treatment of its disorders. Several functions of the wireless stress ECG test are automated, thus enabling patients to save time and increase their diagnostic confidence. These significant usage advantages of the product will allow the overall market to grow exponentially in the years ahead.
Regionally, the Middle East and Africa wireless ECG devices market is expected to account for a major share by 2028. This is considering the emergence of cardiovascular disease as a contributor to morbidity and mortality in countries including Saudi Arabia. The demand for healthcare services in the Kingdom has substantially increased over the years, owing to the population growth, rapid urbanization, and the growing prevalence of coronary problems and other chronic diseases. These aforementioned factors, alongside the strong focus on improving healthcare and standard of living due to the increasing number of older adults and the advancement in medical science, will also fuel the adoption of wireless ECG monitoring systems across the MEA region.
Key wireless ECG devices market players include Nihon Kohden Corporation, Medtronic, BPL Medical Technologies, AliveCor, Inc., Aerotel Medical Systems Ltd., MediBioSense Ltd., iRhythm Technologies, Inc., General Electric Company, CardioComm Solutions, Inc., and Cardiocity Limited, among others. These market participants are focusing on new product launches, mergers, and other strategies to expand their business across the competitive market. For instance, in February 2021, AliveCor announced updates to its KardiaMobile line of mobile ECG devices to detect three additional types of heart conditions, namely sinus rhythm with wide QRS, sinus rhythm with PVCs (premature ventricular contractions), and Sinus rhythm with SVE (supraventricular ectopy).
High popularity of wearable devices due to the rise of remote patient monitoring during the COVID-19 pandemic has triggered the demand for wireless ECG monitors. Also, with the growing incidence of arrhythmia complications among the SARS-CoV-2 patients, the deployment of remote wireless rhythm monitoring using ECG has become more prevalent, thus asserting a positive influence on the industry witness over the foreseeable future.
Market, by Product
Market, by End-Use
The above information is provided for the following regions and countries: