Monitoring ECG Systems Segment to Hold Largest Share of Mobile ECG Devices Market During 2022-2028

According to our latest study on "Mobile ECG Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Modality, Type, End User and Geography," the market is projected to reach US$ 2,366.81 million by 2028 from US$ 1,704.91 million in 2021; it is expected to grow at a CAGR of 5.0% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

Rise in Incidence of Cardiovascular Diseases and Heart-Related Conditions:

Cardiovascular diseases (CVDs) continue to be the most significant cause of morbidity and mortality worldwide. CVDs affect heart and blood vessels, and include coronary heart disease, arrhythmias, and other conditions. Unhealthy diet is one of the most important lifestyle factors that lead to cardiovascular diseases. The increasing prevalence of cardiovascular diseases and the rising need to continuously monitor the ECG levels of patients' hearts to provide accurate analysis help improve the effectiveness of the treatments.

The growing prevalence of arrhythmia and other CVDs create demand for improved diagnostic methods. ECG systems are the most effective instruments for detecting arrhythmias (abnormal heart rhythm), coronary artery disease, atrial fibrillation, previous heart attack, and other conditions. According to the World Health Organization (WHO), CVDs are the leading cause of death worldwide, with 17.9 million deaths caused in the world each year; moreover, 30 million people suffer from stroke every year. According to the American Heart Association, ~19.1 million people died due to CVDs globally in 2020 and 244.1 million people were living with ischemic heart disease in 2020.

As per the estimates of the center for disease control and prevention, in the US CVDs were the underlying cause of death and accounted for ~ 697,000 deaths that is 1 in every 5 deaths. Coronary Artery disease is one of the most common heart diseases killing 382,820 people in 2020 in the US, and about 20.1 million adults aged 20 and older have CAD (about 7.2%) in 2020. More than 130 million people, i.e., 45.1% of the US population, are projected to have a type of CVD by 2035. Furthermore, the European Society of Cardiology reported that atrial fibrillation is a commonly found condition in the region, and the patients suffering from atrial fibrillation are at a five-time greater risk of getting a stroke. According to the center for disease control and prevention, it is estimated that 12.1 million people in the United States will have atrial fibrillation in 2030. According to the Centers for Disease Control and Prevention (CDC), high cholesterol and smoking habits are the key risk factors for heart diseases, and ~47% of people in the US suffer from one of these risk factors.

Furthermore, the launch of the door-to-balloon (D2B) time initiative and "Mission: Lifeline" by the American College of Cardiology and AHA has propelled the demand from hospitals for Bluetooth-enabled, 12-lead ECG monitors and wireless solutions. Along with the increasing incidence of these problems and the need to reduce hospital stays of patients, which otherwise require a long-term care, there is a surge in demand for mobile ECG devices. Mobile ECG devices are inexpensive, disposable, and easy to use as compared to traditional ECG equipment. Therefore, the rise in the incidence of cardiovascular diseases and other heart-related conditions is driving mobile ECG device 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 mobile ECG devices market.

The report segments the 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, Europe, Asia Pacific, South and Central America, and Middle East and Africa. The market in North America is further segmented into the US, Canada, and Mexico. The Europe mobile ECG devices market is subsegmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. The mobile ECG devices market in Asia Pacific is further segmented into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. The market in South and Central America is subsegmented into Brazil, Argentina, and the Rest of South and Central America. The Middle East and Africa mobile ECG devices market is further segmented into the UAE, Saudi Arabia, South Africa, and the Rest of Middle East and Africa.

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