The European Diagnostic Electrocardiograph Market size was worth USD 1245.24 million in 2022 and is estimated to be growing at a CAGR of 5.9% to reach USD 1658.56 million by 2027.
The European market for diagnostic ECG is predicted to develop due to technological advancements in ECG devices such as portability, portable, new electrodes & sensors, and smartphone integration. Additionally, rising cases of cardiovascular disorders and a rapidly aging population are fueling market expansion. According to the World Health Organization, cardiovascular diseases are the leading cause of death worldwide (WHO). Furthermore, the introduction of novel ECG devices, such as handheld ECG devices and ECG devices linked with artificial intelligence systems, is likely to boost the market growth. Growing advancements in the creation of ECG equipment and the introduction of remote monitoring devices are some of the reasons propelling the market forward.
Furthermore, the rising disposable income of individuals, combined with rising healthcare spending, is fueling the growth of the Europe Diagnostic ECG market. Changing lifestyles, including diverse dietary preferences and a sedentary lifestyle, have led to increased cardiovascular illnesses in both young and older people. Furthermore, the widespread use of ECG monitoring systems by healthcare professionals, combined with the ease with which these devices can be used, increase in the number of local government awareness programs, favorable reimbursement policies, and the development of innovative and affordable devices is likely to propel the Europe diagnostic electrocardiograph (ECG) market forward over the forecast period. In addition, respiratory illnesses are becoming more common due to increased urbanization and industrialization, fueling market demand for ECG equipment.
However, the market's expansion could be hampered by uncertain financial conditions and customer demand in any location. The European diagnostic electrocardiograph market is expected to be hindered by a lack of public awareness about the use of electrographs to diagnose cardiovascular disorders and a scarcity of experienced employees to operate electrograph machines. Inconsistent reimbursement practices are also hampering the market's expansion. Furthermore, market saturation uncertainties and economic conditions are restricting its market expansion during the forecast period. Due to the COVID-19 pandemic, the European Commission recently postponed the MDR application date for a year. This is restricting new product releases and ongoing clinical trials for medical equipment, slowing the market for ECG telemetry devices in Europe.
This research report on the European Diagnostic ECG Market has been segmented and sub-segmented into the following categories:
By Lead Type:
By End Users:
Russia has one of the highest CVD (cardiovascular disease) mortality rates, accounting for 59 percent of all deaths. Furthermore, the expanding geriatric population is expected to promote market growth due to the elderly population's greater sensitivity to CVDs. GE Healthcare is a global leader in medical technologies and services. Patient monitoring systems, performance improvement, biopharmaceutical manufacturing technologies, medication research, and medical diagnostics are among its services. CVD affects about seven million people in the United Kingdom. It has risen to the top of the list of causes of mortality and disability. Furthermore, there is a scarcity of physicians who choose to train in specialties not covered by the UK's reimbursement system. Moreover, the National Health Service's delayed reimbursement mechanism for innovative medical technologies causes a significant delay in their acceptance.
KEY MARKET PLAYERS:
Some of the notable companies playing a dominant role in the European Diagnostic Electrocardiograph (ECG) Market profiled in this report are BPL Ltd, Cardiac Science Corp, Fukuda Denshi Co., Ltd, GE Healthcare, Medtronic, Inc., Philips Healthcare, Spacelabs Healthcare, Inc., Mortara Instrument, Inc., Midmark Corp, Mindray Medical International Ltd, Nihon Kohden Corp, Scottcare Corp, Schiller Ag, Welch Allyn Inc., and Cardionet.
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