According to our latest study on “Mobile ECG Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Modality, Type, and End User,” 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 4.8% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Mobile ECG device is used for self-monitoring of heart function at home or on the move. The device is majorly used by people suffering from high blood pressure, high cholesterol, hereditary medical conditions, stress, lack of sleep, overweight, health risks caused due to the high consumption of tobacco. The mobile ECG devices come with sensors that attach to people’s skin. This allows them to record the electrical signals that the heart produces. Factors such as rising incidence of cardiovascular diseases and heart-related conditions and increasing geriatric population fuel the market growth. However, stringent regulatory requirements and technical issues hinder the market growth. Further, during the forecast period, the increasing potential in the developing nations is expected to offer significant growth opportunities to the market players to expand their customer base, especially in developing countries.
The report segments 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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Mobile ECG Device is a wireless diagnostic instrument that can share data over Bluetooth, WiFi, and other wireless connection technologies. It can be linked to mobile phones, tablets, and other apps to share data, analyse it, and save it on the appropriate storage devices. There are two key pieces to the mobile ECG gadget. The adoption of sedentary lifestyles consisting of unhealthy diet, lack of physical activities has led to rise in the number of people suffering from diabetes, cardiovascular diseases etc.
Market leaders operating in the market have undertaken various organic growth strategies in the mobile ECG devices market. The mobile ECG devices market majorly consists of the players MD Biomedical Inc., CardioComm Solutions Inc., THOR, Koninklijke Philips N.V., Bittium Biosignals LTD., Medtronic, AliveCor, Inc., Nihon Kohden Corporation, EB Neuro S.P.A, Cardiocity Limited, Preventice Solutions among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaboration.
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