According to a new report published by Allied Market Research, titled, “Electrocardiograph (ECG) Market,” The electrocardiograph (ecg) market was valued at $8.3 billion in 2020, and is estimated to reach $18.4 billion by 2030, growing at a CAGR of 8.3% from 2021 to 2030.
List of Key Players
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Key Findings Of The Study
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The COVID-19 outbreak is anticipated to have a negative impact on the growth of the ECG industry, as most hospitals were not operating due to COVID-19 and the ongoing lockdowns in many countries. The spread of COVID-19 led to a major public health issue. COVID-19 affected the ECG market forecast, owing to lack of visits to healthcare facilities such as hospitals and clinics. Moreover, it affected workforce and staffing issues as well as procedural prioritization. Thus, the abovementioned issues affected the ECG Market growth due to cancellation of scheduled visits for primary care at hospitals and reflecting patients concern about infection.
According to Onkar Sumant, Manager, Healthcare at Allied Market Research, “Recent technological advancements in ECG devices with enhanced features such as mobile ECG devices with a wireless system that can transmit data to monitoring stations and improved detection rates boost the ECG market growth. In addition, increase in awareness regarding preventive healthcare among people increased the frequency of electrocardiography, thereby propelling the market growth”.