In a recent published report, Kenneth Research has updated the market report for ECG Equipment Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for ECG Equipment Market products.
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The global ECG equipment market is on a rise and is estimated to reach $6120 million by 2028 at a CAGR of 6.1% during 2018-2028. North America holds the largest market share with 44% and it is expected to retain its leadership position during the forecasted period. On the other hand APAC is considered to be the fastest growing market for ECG equipment during 2018-2028 growing at a CAGR 6.6 %. With the improvement in the designs of ECG equipment, ECG devices are now safer and portable.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The less consumption of electricity is also a key driving force for the adoption of ECG devices globally. On the back of all these factors the global market for ECG equipment is expected to witness solid growth during the forecast period and devices such as the resting ECG and Holter monitors are expected to lead the market during 2018-2028.
The new ECG devices are now equipped with latest technologies including low power circuit plan which makes it more electricity efficient and safer to use. Furthermore rapid growth in the cloud storage wireless communication and emergence of big data are key driving forces which are opening doors for global ECG equipment market. In addition the patient suffering from cardiovascular diseases are increasing at a rapid rate across the globe. Due to these reasons, the Global ECG equipment market is expected to grow meaningfully during the forecast period.
COMPANY MENTIONED IN THIS REPORT:
1. CARDIAC SCIENCE
4. WELCH ALLYN
7. GE HEALTHCARE
9. MORTARA INSTRUMENTS, INC
10. SPACELABS HEALTHCARE,INC
11. NIHON KOHDEN CORPORATION
12. CARDIONET INC.
13. SIEMENS MEDICAL SOLUTION
14. FUKUDA DENSHI CO.
15. COMPUMED INC
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