The global market for Electrocardiogram (ECG) Management Systems is expected to see rapid revenue growth, with a projected CAGR of 8% during the forecast period. This growth is attributed to several factors, including the rising prevalence of cardiovascular disorders, advancements in ECG management systems, and the increasing need for remote patient monitoring.
Cardiovascular disorders, such as heart attacks and strokes, are leading causes of death worldwide, accounting for 31% of all fatalities, according to the World Health Organization (WHO). ECG management systems are important tools in the healthcare sector, as they can help diagnose and treat CVDs. Improvements in ECG management systems have resulted in technologically sophisticated and user-friendly solutions that provide a number of benefits, such as increasing accuracy and dependability, enhancing productivity, and lowering operational costs.
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The demand for ECG management systems with cutting-edge features, such as real-time monitoring and cloud-based data storage, is increasing. Solutions for remote patient monitoring are also in high demand, particularly due to the rising prevalence of chronic diseases and the aging population. ECG management systems enable healthcare practitioners to remotely monitor patients' cardiac status and identify any irregularities, which is a crucial part of remote patient monitoring. Early intervention is possible as a result, lowering the possibility of problems and enhancing patient outcomes.
Moreover, the increasing use of Electronic Health Records (EHRs) is expected to drive revenue growth of the market. ECG management systems and EHRs are connected, enabling patient data to be transferred across healthcare providers without any interruption. This enhances patient outcomes by enabling prompt and precise diagnosis and treatment.
However, there are also factors that could restrain market revenue growth, such as high system prices, a shortage of competent workers, and restrictive reimbursement rules.
The global ECG management systems market is segmented into resting ECG systems, stress ECG monitors, holter monitors, event monitoring systems, and ECG management systems. The ECG management system segment accounted for the largest revenue share in the global ECG management systems in 2022, due to rising geriatric and CVDs prevalence rates. In clinical settings, resting ECG systems are frequently used to identify a range of cardiac abnormalities, including arrhythmias, conduction problems, and ischemia.
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The stress ECG systems segment is expected to register the fastest revenue growth rate in the global ECG management systems market during the forecast period, due to the rising popularity of telemedicine and increasing acceptance of digital healthcare solutions. Exercise-induced cardiac function testing and the diagnosis of Coronary Artery Disease (CAD) are both performed using stress ECG systems on individuals. Demand for stress ECG systems is rising due to increasing prevalence of CAD and understanding about advantages of exercise testing. The holter monitors segment is expected to account for a significantly large revenue share in the global ECG management systems market during the forecast period, due to rising acceptance of digital healthcare solutions and demand for portable and wireless holter monitoring systems. These systems are frequently utilized to track patients' ECG data.
Based on end-use, the global ECG management systems market is segmented into hospitals clinics and ambulatory facilities. The hospitals clinics segment is expected to register a steadily fast revenue growth rate in the global ECG management systems market during the forecast period, due to increasing use of ECG management systems in these institutions. Hospitals and clinics must have ECG management systems because they help with early identification and diagnosis of cardiovascular disorders.
The ambulatory facilities segment is expected to account for a considerably large revenue share in the global ECG management systems market during the forecast period, due to the increasing use of telemedicine and mHealth technologies. These facilities help in the early detection and diagnosis of cardiovascular problems, which are common in elderly patients and those with chronic illnesses.
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