Electrocardiograph (ECG) devices are used to record the heart activities through electric signals. These devices are amplified on the ECG monitor. They are essentially adopted across various medical set-ups to diagnose different types of heart diseases and arrhythmias in people; thereby, assisting the appropriate therapy for patients suffering from cardiovascular diseases (CVD). The South Korea ECG market was valued at $2.99 million in 2017 and is expected to reach $7.69 million by 2025, registering a CAGR of 12.3% from 2017 to 2025.
The key factors that drive the market growth include increase in number of CVD patients across South Korea and rise in demand for monitoring systems and portable cardiac rhythm management. In addition, surge in the geriatric population and favorable government regulations regarding the ECG devices supplement the market growth in South Korea. However, high costs associated with sophisticated ECG devices and increase in threat of market saturation are the factors anticipated to restrict the market growth. Conversely, increase in development of wireless communication and cloud computing is expected to provide lucrative opportunities for the growth of the market.
The South Korea ECG market is segmented into product, lead, and end user. Based on product, the market is divided into resting ECG, stress ECG, and Holter monitors. The Holter monitors are further bifurcated into wired and wireless Holter monitors. Based on lead, the market is classified into single lead, 3-6 lead, and 12-lead. Based on end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCs), and others.
Key Market Benefits for ECG market:
The study provides an in-depth analysis of the ECG devices and instruments, with current trends and future estimations to elucidate the imminent investment pockets.
A quantitative analysis from 2017 to 2025 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Porter’s five forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
ECG Key Market Segments:
Wired Holter Monitors
Wireless Holter Monitors
By End User
Hospitals & Clinics
Home settings and Ambulatory surgical centers
The list of key players operating in this market includes:
GE Healthcare (General Electric Company)
Bionet Co., Ltd.
Hill Rom Holdings, Inc.
Koninklijke Philips N.V.
Mediana Co., Ltd.
Mindray Medical International Limited
Nihon Kohden Corporation
OSI Systems Inc.
CardioComm Solutions, Inc.
Omron Healthcare Europe B.V
Beijing Choice Electronic Technology Co., Ltd. (ChoiceMMed)
The other players included in the value chain analysis (and not included in the report) include:
Trismed Co., Ltd
Johnson & Johnson
Fukuda Denshi Co., Ltd
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