Resting ECG Devices Segment has the Largest Share of Product in the Europe ECG Telemetry Device Market during 2021-2028
According to this research study titled “Europe ECG Telemetry Device Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Product, and End User,” the market is expected to reach US$ 962.9 million by 2028 from US$ 561.1 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the Europe ECG telemetry device market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increase in cardiovascular disease incidence and a surge in geriatric population are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost and disadvantages of ECG telemetry devices.
The current coronavirus (COVID-19) outbreak has been declared by WHO as a public health emergency of international concern according to the International Health Regulation. Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes. Two consecutive waves of coronavirus had devastating impact on economic activities in the Europe. Implementation of social distancing and lockdown policies led to closing of cardiac centers and patient visits for elective heart treatments. This factor negatively impacted the adoption of ECG telemetry devices in the region. The European Commission recently postponed the application date of the MDR for one-year due to COVID-19 pandemic. The Medical Device Regulation (MDR) requires manufacturers to conduct Post Market Clinical Follow-Up (PMCF) studies to demonstrate the continued safety and performance of their devices. This is expected to impact the new product launches and ongoing clinical trials of medical devices, impacting sales and growth of the Europe ECG telemetry devices market. In addition, disrupted supply chains, extended lockdowns, and cancelling of travel visits of sales personnel of companies have also negativity affected the growth of the ECG telemetry devices market.
The market for ECG telemetry device market is segmented into product, and end user. Based on product, the ECG telemetry devices market is segmented into resting ECG devices, stress ECG devices, and others. In 2020, the resting ECG devices by product segment accounted for the highest share of the market and is expected to grow faster during the forecast period. Growth of this segment is attributed as it helps to measures the electrical activity of the heart with no extra preparation required, and it takes about 5 minutes to perform. These tests offers benefits such as it is most simple, quick, and painless, and they can also help to detect heart conditions such as hypertrophy of the heart, myocardial infarction, ischemia, sequelae of myocardial infarction, cardiac arrhythmias, and among others. Additionally, resting ECG is also used as secure and connected workflows to provide accurate solutions that help to reduce complexity and shorten the path to diagnosis.
Cardiac Science Corporation, GE Healthcare Inc., Medtronic Inc., Mindray Medical International Ltd., Nihon Kohden Corporation, Philips Healthcare, Dragger, and Welch Allyn Inc are among the leading companies in the Europe ECG telemetry device market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in February 2020, Royal Philips a global leader in health technology, has acquired BioTelemetry, Inc the acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions
The report segments the Europe ECG Telemetry Device market as follows:
By Product
By End User
By Country
According to this research study titled “Europe ECG Telemetry Device Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Product, and End User,” the market is expected to reach US$ 962.9 million by 2028 from US$ 561.1 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the Europe ECG telemetry device market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increase in cardiovascular disease incidence and a surge in geriatric population are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost and disadvantages of ECG telemetry devices.
The current coronavirus (COVID-19) outbreak has been declared by WHO as a public health emergency of international concern according to the International Health Regulation. Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes. Two consecutive waves of coronavirus had devastating impact on economic activities in the Europe. Implementation of social distancing and lockdown policies led to closing of cardiac centers and patient visits for elective heart treatments. This factor negatively impacted the adoption of ECG telemetry devices in the region. The European Commission recently postponed the application date of the MDR for one-year due to COVID-19 pandemic. The Medical Device Regulation (MDR) requires manufacturers to conduct Post Market Clinical Follow-Up (PMCF) studies to demonstrate the continued safety and performance of their devices. This is expected to impact the new product launches and ongoing clinical trials of medical devices, impacting sales and growth of the Europe ECG telemetry devices market. In addition, disrupted supply chains, extended lockdowns, and cancelling of travel visits of sales personnel of companies have also negativity affected the growth of the ECG telemetry devices market.
The market for ECG telemetry device market is segmented into product, and end user. Based on product, the ECG telemetry devices market is segmented into resting ECG devices, stress ECG devices, and others. In 2020, the resting ECG devices by product segment accounted for the highest share of the market and is expected to grow faster during the forecast period. Growth of this segment is attributed as it helps to measures the electrical activity of the heart with no extra preparation required, and it takes about 5 minutes to perform. These tests offers benefits such as it is most simple, quick, and painless, and they can also help to detect heart conditions such as hypertrophy of the heart, myocardial infarction, ischemia, sequelae of myocardial infarction, cardiac arrhythmias, and among others. Additionally, resting ECG is also used as secure and connected workflows to provide accurate solutions that help to reduce complexity and shorten the path to diagnosis.
Cardiac Science Corporation, GE Healthcare Inc., Medtronic Inc., Mindray Medical International Ltd., Nihon Kohden Corporation, Philips Healthcare, Dragger, and Welch Allyn Inc are among the leading companies in the Europe ECG telemetry device market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in February 2020, Royal Philips a global leader in health technology, has acquired BioTelemetry, Inc the acquisition of BioTelemetry is a strong fit with Philips’ cardiac care portfolio, and its strategy to transform the delivery of care along the health continuum with integrated solutions
The report segments the Europe ECG Telemetry Device market as follows:
By Product
- Resting ECG Devices
- Stress ECG Devices
- Others
By End User
- Home Healthcare
- Hospitals
By Country
- Europe - Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Table of Contents
1. Introduction
3. Research Methodology
4. Europe ECG Telemetry Device Market - Market Landscape
5. Europe ECG Telemetry Device Market - Key Market Dynamics
6. ECG Telemetry Device Market - Europe Analysis
7. Europe ECG Telemetry Device Market Analysis and Forecasts To 2028 - By Product
8. Europe ECG Telemetry Device Market Analysis and Forecasts to 2028- By End User
9. ECG Telemetry Device Market Revenue and Forecasts to 2028 - Geographical Analysis
10. Impact Of COVID-19 Pandemic on Europe ECG Telemetry Device Market
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cardiac Science Corporation
- GE Healthcare Inc.
- Medtronic Inc.
- Mindray Medical International Ltd.
- Nihon Kohden Corporation
- Philips Healthcare
- Dragger
- Welch Allyn Inc
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 112 |
Published | June 2021 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 561.1 Million |
Forecasted Market Value ( USD | $ 962.9 Million |
Compound Annual Growth Rate | 8.0% |
Regions Covered | Europe |