5.7% CAGR Growth in Echocardiography (ECG) Devices Market by End-user (Hospitals and Diagnostic centers), Product, and Region - Forecast to 2027 - Technavio

NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The echocardiography (ECG) devices market size is estimated to grow by USD 4.10 billion from 2022 to 2027 at a CAGR of 5.7% according to Technavio. The hospitals segment is poised for significant growth, driven by widespread device use in cardiac care units. The US, with its advanced healthcare system, presents lucrative opportunities for ECG device manufacturers. Forecasts predict a 4.53% growth in the hospital end-user segment between 2022 and 2027, indicating sustained expansion in the global market.

The growing competition is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio's report analyzes the market's competitive landscape and offers information on several vendors.

• The surge in cardiac disorders, particularly hypertension, propelled by unhealthy lifestyles and stress, is a significant driver of the Echocardiography (ECG) Devices Market. Increased hospitalizations among the aging population for cardiac conditions escalate the need for ECG diagnosis, particularly in the Americas, fostering market growth due to the demand for early detection and treatment.
• The high cost of ECG products and procedures may hamper the growth.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a free sample report!

The echocardiography (ECG) devices market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.

Echocardiography (ECG) Devices Market Insights -

• Vendors: 15+, Including Allengers Medical Systems Ltd., Bionet Co. Ltd., Cardinal Health Inc., DMS Service LLC, Fukuda Denshi Co. Ltd., General Electric Co., Halma Plc, Hill Rom Holdings Inc., iRhythm Technologies Inc., Johnson and Johnson, Koninklijke Philips NV, Medtronic Plc, Nasiff Associates Inc., NEXUS LIFECARE PVT. LTD., Nihon Kohden Corp., Norav Medical, OSI Systems Inc., SCHILLER AG, Wuhan Zoncare Biomedical Electronics Co. Ltd., AliveCor Inc., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: End-user (Hospitals and Diagnostic centers), Product (Resting, Ambulatory, and Stress), and Geography (North America, Europe, Asia, and Rest of World (ROW))

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What are the key data covered in this Echocardiography (ECG) Devices Market report?

• CAGR during the forecast period
• Detailed information on factors that will drive the growth of the Echocardiography (ECG) Devices Market between 2023 and 2027
• Precise estimation of the size of the Echocardiography (ECG) Devices Market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Echocardiography (ECG) Devices Market industry across North America, Europe, APAC, and Rest of World (ROW)
• A thorough analysis of the competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Echocardiography (ECG) Device vendors

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The Echocardiography Devices industry, a crucial aspect of cardiology and medical imaging, witnesses growth due to increasing cardiovascular diseases. These devices use ultrasound technology to aid in diagnostic imaging and heart health assessment. With advancements like portable and 3D echocardiography, demand surges for cardiovascular diagnostics, driving market trends and healthcare technology evolution.

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SOURCE Technavio