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ASIA-PACIFIC ECG EQUIPMENT MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific ECG Equipment Market by Lead Type (Single Lead, 3-6 Lead, 12-lead) Market by Product (Diagnostic ECG System, Monitoring ECG System) Market by System (Stationary ECG System, Portable ECG System) Market by End-user (Hospitals & Clinics, Home/ambulatory Care, Other End-users) by Geography

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MARKET OVERVIEW

The Asia-Pacific ECG equipment market is evaluated to register a CAGR of 6.61% over the forecasting period of 2023-2032, acquiring a revenue share of $2783.50 million by 2032.

The strong medical device manufacturing base, the presence of an extensive network of electronic as well as semiconductor equipment, and the high incidence of cardiac disorders are among the top factors influencing the market growth of the region. However, high costs associated with sophisticated ECG devices may pose a threat to the Asia-Pacific ECG equipment market growth.

Asia-Pacific ECG Equipment Market

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The Asia-Pacific ECG equipment market growth assessment includes the evaluation of China, Japan, India, Indonesia, Vietnam, South Korea, Thailand, Australia & New Zealand, and Rest of Asia-Pacific. In 2019, around 77 million people were estimated to be suffering from diabetes, and this number is projected to increase to more than 134 million by 2034. Since individuals with diabetes are at a higher risk of being diagnosed with heart disease, this factor is set to play an essential role in fueling the demand for ECG equipment in the country. In addition, India has also observed an alarming rise in the prevalence of heart diseases and strokes, which further increases the demand for effective diagnosis. Innovative developments, including wireless communications, advanced data analytics tools, and cloud storage, have also expanded the rate of diagnosis across remote regions in India.

On the other hand, as per the data issued by the World Bank, around 17 million individuals in Thailand will be 65 years or older by 2040, equating to over a quarter of the country’s population. The rising aging populace is anticipated to propel the demand for ECG equipment, subsequently contributing to the market growth in Thailand. Additionally, the country’s high incidence of cardiovascular disorders is set to offer lucrative market growth opportunities, as well. In 2019, for instance, Thailand had nearly 351,000 patients suffering from ischemic heart disease, with Bangkok recording the highest number of patients, equating to about 47,000. As a result, the aforementioned factors are evaluated to drive the ECG equipment market growth in the Asia-Pacific during the projection period.

The Asia-Pacific ECG equipment market is segmented into lead type, product, system, and end-user. The system segment includes stationary ECG system and portable ECG system. Traditional stationary electrocardiography (ECG) has continued to be used over the years, on account of its critical role in the diagnosis as well as treatment of several diseases, such as acute coronary syndrome. 

Since these systems are ideal for situations in which the patient is immobile, the majority of healthcare facilities still use stationary ECG solutions. Furthermore, owing to the less-compact nature of the device, it is characterized by additional features and can also gather relatively more data as compared to portable systems.

Eminent companies operating in the Asia-Pacific ECG equipment include Nihon Kohden Corporation, Mindray Medical International Limited, Siemens Healthineers AG, etc.

Nihon Kohden Corporation, headquartered in Japan, manufactures, develops, and sells electronic medical equipment, globally. The company offers physiological measuring equipment, including electroencephalographs, evoked potential/EMG measuring instruments, electrocardiographs, and polygraphs for cath labs. The company also provides patient monitor systems, entailing bedside monitors, wireless monitors, central monitors, remote access software, and other equipment, in addition to clinical information systems as well as associated consumables & services.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Lead Type, Product, System, End-User
Countries AnalyzedChina, Japan, India, South Korea, Thailand, Indonesia, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
Companies AnalyzedBionet Co Ltd, BioTelemetry Inc, CompuMed Inc, GE Healthcare, Hill-Rom Holdings Inc, McKesson Corporation, Mindray Medical International Limited, Nihon Kohden Corporation, Philips Healthcare, Schiller AG, Siemens Healthineers AG, Spacelabs Healthcare, Welch Allyn Inc, ZOLL Medical Corporation

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. PREVALENCE OF CARDIOVASCULAR DISEASES
      2. INCREASING USAGE OF MONITORING DEVICES DUE TO RISING GERIATRIC POPULATION
      3. GROWING HEALTHCARE SPENDING
    2. KEY RESTRAINTS
      1. INTENSE COMPETITION AMONG VENDORS
      2. COMPLEX REIMBURSEMENT POLICIES REGARDING CARDIOVASCULAR DISEASES (CVD)
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. VALUE CHAIN ANALYSIS
    4. KEY BUYING CRITERIA
    5. REGULATORY FRAMEWORK
  5. MARKET BY LEAD TYPE
    1. SINGLE LEAD
    2. 3-6 LEAD
    3. 12-LEAD
  6. MARKET BY PRODUCT
    1. DIAGNOSTIC ECG SYSTEM
      1. REST ECG SYSTEM
      2. STRESS ECG SYSTEM
      3. HOLTER ECG SYSTEM
    2. MONITORING ECG SYSTEM
      1. EVENT MONITORING
      2. CONTINUOUS MONITORING
      3. REMOTE MONITORING
  7. MARKET BY SYSTEM
    1. STATIONARY ECG SYSTEM
    2. PORTABLE ECG SYSTEM
      1. APPLICATIONS OF PORTABLE ECG SYSTEMS IN DIGITAL AND TELEHEALTH MARKET
        1. CASE STUDY- 1: DEVELOPMENT OF PORTABLE ECG DEVICES
        2. CASE STUDY- 2: TELECARDIOLOGY
        3. CASE STUDY- 3: USE OF WEARABLE DEVICES FOR AMBULATORY MONITORING
      2. HANDHELD ECG SYSTEM
      3. WEARABLE ECG SYSTEM
      4. PEN ECG SYSTEM
      5. OTHER PORTABLE ECG SYSTEMS
  8. MARKET BY END-USER
    1. HOSPITALS & CLINICS
    2. HOME/AMBULATORY CARE
    3. OTHER END-USERS
  9. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC ECG EQUIPMENT MARKET DRIVERS
      3. ASIA-PACIFIC ECG EQUIPMENT MARKET CHALLENGES
      4. KEY PLAYERS IN ASIA-PACIFIC ECG EQUIPMENT MARKET
      5. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        5. THAILAND
          1. THAILAND ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        6. INDONESIA
          1. INDONESIA ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        7. VIETNAM
          1. VIETNAM ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        8. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
        9. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC ECG EQUIPMENT MARKET SIZE & OPPORTUNITIES
  10. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. BIONET CO LTD
      2. BIOTELEMETRY INC
      3. COMPUMED INC
      4. GE HEALTHCARE
      5. HILL-ROM HOLDINGS INC
      6. MCKESSON CORPORATION
      7. MINDRAY MEDICAL INTERNATIONAL LIMITED
      8. NIHON KOHDEN CORPORATION
      9. PHILIPS HEALTHCARE
      10. SCHILLER AG
      11. SIEMENS HEALTHINEERS AG
      12. SPACELABS HEALTHCARE (SUBSIDIARY OF OSI SYSTEMS INC)
      13. WELCH ALLYN INC (ACQUIRED BY HILL-ROM)
      14. ZOLL MEDICAL CORPORATION (ACQUIRED BY ASAHI KASEI)

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ECG EQUIPMENT

TABLE 2: TYPES OF CARDIOVASCULAR DISEASES

TABLE 3: REGULATORY FRAMEWORK

TABLE 4: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY LEAD TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY LEAD TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PRODUCT, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PRODUCT, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY DIAGNOSTIC ECG SYSTEM, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY DIAGNOSTIC ECG SYSTEM, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY MONITORING ECG SYSTEM, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY MONITORING ECG SYSTEM, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY SYSTEM, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY SYSTEM, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 14: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PORTABLE ECG SYSTEM, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PORTABLE ECG SYSTEM, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 16: PROS AND CONS OF COMMERCIALLY AVAILABLE PORTABLE ECG DEVICES

TABLE 17: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY END-USER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 18: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY END-USER, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 19: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 20: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 21: KEY PLAYERS OPERATING IN ASIA-PACIFIC ECG EQUIPMENT MARKET

TABLE 22: LIST OF MERGERS & ACQUISITIONS

TABLE 23: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 24: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 25: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY FACTS ABOUT CARDIOVASCULAR DISEASES

FIGURE 2: KEY MARKET TRENDS

FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY LEAD TYPE, IN 2022

FIGURE 7: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY SINGLE LEAD, 2023-2032 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY 3-6 LEAD, 2023-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY 12-LEAD, 2023-2032 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY PRODUCT, IN 2022

FIGURE 11: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY DIAGNOSTIC ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY DIAGNOSTIC ECG SYSTEM, IN 2022

FIGURE 13: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY REST ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY STRESS ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY HOLTER ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY MONITORING ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY MONITORING ECG SYSTEM, IN 2022

FIGURE 18: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY EVENT MONITORING, 2023-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY CONTINUOUS MONITORING, 2023-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY REMOTE MONITORING, 2023-2032 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY SYSTEM, IN 2022

FIGURE 22: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY STATIONARY ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 23: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PORTABLE ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 24: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY PORTABLE ECG SYSTEM, IN 2022

FIGURE 25: USE CASES OF WEARABLE MONITORING DEVICES

FIGURE 26: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY HANDHELD ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 27: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY WEARABLE ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 28: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY PEN ECG SYSTEM, 2023-2032 (IN $ MILLION)

FIGURE 29: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY OTHER PORTABLE ECG SYSTEMS, 2023-2032 (IN $ MILLION)

FIGURE 30: ASIA-PACIFIC ECG EQUIPMENT MARKET, GROWTH POTENTIAL, BY END-USER, IN 2022

FIGURE 31: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY HOSPITALS & CLINICS, 2023-2032 (IN $ MILLION)

FIGURE 32: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY HOME/AMBULATORY CARE, 2023-2032 (IN $ MILLION)

FIGURE 33: ASIA-PACIFIC ECG EQUIPMENT MARKET, BY OTHER END-USERS, 2023-2032 (IN $ MILLION)

FIGURE 34: ASIA-PACIFIC ECG EQUIPMENT MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN%)

FIGURE 35: CHINA ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 36: JAPAN ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 37: INDIA ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 38: SOUTH KOREA ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 39: THAILAND ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 40: INDONESIA ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 41: VIETNAM ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 42: AUSTRALIA & NEW ZEALAND ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

FIGURE 43: REST OF ASIA-PACIFIC ECG EQUIPMENT MARKET, 2023-2032 (IN $ MILLION)

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