Asia Pacific ECG Telemetry Device Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Resting ECG Devices, Stress ECG Devices, and Others); End User (Home Healthcare, and Hospitals)

Resting ECG Devices Segment has the Largest Share of Product in the Asia Pacific ECG Telemetry Device Market during 2021-2028

According to a new market research study on “Asia Pacific ECG Telemetry Device Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Product, and End-user,” is expected to reach US$ 399.2 million by 2028 from US$ 245.4 million in 2021. The market is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific 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.

Many measures have been implemented to contain the spread of COVID-19, that have resulted in significant operational disruption for many companies including in healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient visits for private hospital chains. To relieve healthcare systems, many clinics have been postponing non-critical cardiac surgeries. As per a report published in the British Journal of Surgery on May 12, the number of operations cancelled in India is estimated at 48,728 per week. Moreover, medical device companies are starting to forecast large sales declines in their Chinese markets because people are staying at home. Many big medical device companies such as Philips, GE Healthcare, and Hill Rom amongst others have predicated the decline in sales in china. Almost no elective surgeries were performed in China in February. Such activities are anticipated to have negative impact on Asia Pacific 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 Asia Pacific 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 Asia Pacific ECG Telemetry Device market as follows:

By Product

• Resting ECG Devices
• Stress ECG Devices
• Others

By End-user

• Home Healthcare
• Hospitals

By Country

• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific ECG telemetry device market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific ECG telemetry device market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the ECG telemetry device market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution