Global ECG sensor market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of ~5% during the forecast period.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
An ECG sensor stands for Electrocardiogram sensor. An electrocardiogram is a process that is used to check the electrical activity of the heart. ECG sensor is basically used to record and monitor the path of electrical impulse traveling through a person’s heart.
A surge in the adoption of ECG sensor for applications such as in biomedical devices prototyping, psychophysiology, biometrics, heart rate variability & heart rate, human-computer interaction and in physiology study application is the major driving factor behind the growth of the market. A recent trends and developments in ECG device such as wireless body sensors to monitor patients, rising adoption of ECG devices by hospitals and clinics, growing old age population, increasing awareness among people regarding heart health and rising implementation of ECG sensors in wearable devices are expected to improve the growth of the market during the forecast period. In addition, ECG sensors provide some benefits such as low power consumption, fast and accurate measurement, and easy integration with wearable devices which are ultimately propelling the growth of the market.
However, high cost of ECG sensor-based devices is the major restraining factor that could hamper the growth of the market.
Global ECG Sensor Market: Segmentation Analysis
By connectivity, the wireless segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. An increasing adoption and development of wireless wearable ECG sensors for long-term monitoring applications for patients with cardiac arrhythmias problem is attributed to the growth of the market. In addition, rising demand for wireless ECG biosensors to track HRV and overall health of an individual person is directly resulting into the growth of the market.
By application, wearable fitness devices and Smartphone segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Various mobile device and wearable device manufacturers are producing their products by using heart rate variability tracking tools and ECG sensors to naturally reduce stress, to increase strength and to improve health of the users, which is attributed to the growth of the market. Also growing market for consumer and wearable electronics industry in APAC region is escalating the demand for ECG sensor in the market.
Global ECG Sensor Market: Regional Analysis
Region-wise, North America held the largest market share in 2019 and is expected to continue its dominance at a CAGR of XX% during the forecast period. The US and Canada are dominating the market. The growth is attributed to the large-scale adoption of ECG sensor in Smartphones, wearable fitness devices and other wearable devices such as smart watches. Rising number of cases regarding heart related problems and increasing adoption of various ECG devices is driving the growth of the market.
According to MMR study, in the United States heart disease is the major cause of death of most people. Each year around 647,000 Americans die from heart diseases such as cardiovascular disease and heart attack. Thus, rising customer demands for heart rate measuring devices and increasing need to decrease the number of deaths due to heart problems is propelling the growth of the market in the NA region.
The objective of the report is to present a comprehensive analysis of the Global ECG Sensor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global ECG Sensor Market dynamics, structure by analyzing the market segments and projects the Global ECG Sensor Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global ECG Sensor Market make the report investor’s guide.
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The Scope of Global ECG Sensor Market
Global ECG Sensor Market, By Type
• Simulation Sensors
• Digital Sensors
Global ECG Sensor Market, By Connectivity
Global ECG Sensor Market, By Application
• ECG Machine
• Wearable Fitness Devices
• Patient Monitoring Equipment
• Research & Laboratories
Global ECG Sensor Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global ECG Sensor Market, Key Players
• Texas Instruments Inc
• Analog Devices Inc
• MikroElektronika D.O.O
• Medtronic Plc
• GE Healthcare
• Philips Healthcare
• GE Healthcare
• Siemens Healthcare
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