Transparency Market Research has released a new research report in the domain of the global healthcare and medical devices industry, titled “ECG Monitoring Systems Market – Global Industry Analysis By Type, Size, Share And Forecast 2011 – 2016”. The report’s critical analysis is intended to address the user’s need to discover the trends affecting the development of the global ECG market’s dynamics in order to formulate a successful market strategy.According to the report, the global ECG monitoring systems market is currently growing at a CAGR of 7.6% between the period 2011 and 2016. Taking into account the market’s 2010 worth, it should reach US$822.1 million in 2016.
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“We can expect to see a growth in the overall shipment of ECG monitoring systems to 374.8 thousand units in 2016, from its 2011 figure of 262.1 thousand units,” said a TMR analyst, “This is a potential CAGR of 7.4% from 2011 to 2016.” He also said that of the various types of ECG monitoring systems used, rest ECG monitoring systems dominated the market in 2011 in terms of revenue. Stress ECG monitoring systems, on the other hand, had the highest selling price.The report says that the growing prevalence of cardiovascular diseases around the world is the biggest driving factor of the global ECG monitoring systems market. It emphasizes the fact that cardiovascular diseases are the largest cause of deaths globally.
In 2008, nearly 17.3 million people died from cardiovascular diseases, a whopping 32.8% of all deaths that year. Of the 17.3 million, 6.2 million died from stroke and 7.3 million died due to coronary heart disease. The report also cites a projected increment of deaths due to cardiovascular disease to 20.5 million in 2020.This statistical rise of life-threatening issues due to cardiovascular diseases has prompted an increase in the market for ECG monitoring systems. The report says that people all over the world are becoming increasingly health-conscious, which, when combined with an increasing per capita income, results in a larger number of people being willing and able to buy ECG monitoring systems for their physical health.
The U.S. is the leading country in the global ECG monitoring systems market with a market revenue of US$167.8 million recorded in 2011. Within the U.S., the report says that the total number of Holter monitor tests conducted will grow at a CAGR of 8.9% in the forecast period. Event monitor tests in the country are also expected to grow at a CAGR of 3.1% in the same period. The total shipments in the global ECG monitoring systems market for the U.S. alone are predicted to increase to 94.6 thousand units in 2016. Other countries included in the report include Germany, where the market for ECG monitoring systems recorded revenue of US$54.9 million in 2011.
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