In 2022, the global ECG Devices Market was USD 5.3 Billion, and it is projected to exhibit a rapid revenue CAGR of 6.7% during the forecast period. The market growth is being driven by major factors, including the increasing prevalence of Cardiovascular Diseases (CVDs) such as heart attacks, strokes, and hypertension, and the growing awareness among people and healthcare professionals about the importance of early detection and treatment of heart-related problems. ECG equipment is used to perform procedures that monitor and record the heart's electrical activities and perform invasive procedures to indicate heart-related diseases. These equipment are smaller in size, require high-performance processing power, precision filtering, and integrated high-resolution graphic control, which are separated from the primary microcontroller device.
Furthermore, the rising incidence of CVDs can be attributed to the aging population and new lifestyle trends such as sedentary behavior and poor eating habits. The need for ECG equipment is increasing as patients and healthcare professionals are becoming more aware of the importance of early detection and treatment of heart-related disorders. The availability of advanced ECG equipment, such as 12-lead ECG systems and wireless ECG devices, is enabling healthcare professionals to perform accurate and speedy diagnostics.
In addition, the introduction of portable ECG devices is also contributing to the growth of the market revenue. Portable ECG devices allow patients to monitor their heart health at home, reducing the need for hospital visits and enabling early identification and intervention. Moreover, the market is expected to experience growth due to technological advancements in ECG equipment, such as the integration of Artificial Intelligence (AI) and Machine Learning (ML) capabilities. ECG devices with AI and ML capabilities can analyze data in real-time, make accurate diagnoses and treatment recommendations, and improve patient outcomes. However, the high cost associated with the initial installation of these devices and the lack of awareness regarding their use in emerging economies may limit the market revenue growth.
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