A New-Era of Digital Health in Cardiac Monitoring has Begun Post Pandemic; Smart Wearables, AI-based ECG Becoming Integral Part of Ambulatory Cardiovascular Medical Practices; The Global Wearable ECG Devices Market to Witness Sales of $35 Billion by 2027 - Arizton
17 Jan 2023
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CHICAGO, Jan. 17, 2023 /PRNewswire/ -- According to Arizton's latest research report, the global wearable ECG devices market will grow at a CAGR of 19.32% during 2021-2027. The growth of the global wearable ECG devices market is anticipated to be driven by the growing adoption of cutting-edge sensors and AI-based wearable ECG devices with widely accessible clinical data. Additionally, vendors' increased emphasis on inorganic growth strategies is probably going to lead to significant product innovations, which will favorably impact the market development of wearable ECG devices globally.
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Wearable ECG Devices Market
The global wearable ECG devices market is expected to grow significantly during the forecast period due to growing technological advancements, new product launches & approvals, and the rising adoption of smart wearables by the young generation. An increase in the incidence of CVDs has led to a growing volume of diagnosis across the globe. As the demand for continuous monitoring among patients is increasing, vendors are coming up with new technologically advanced devices with higher diagnostic yields and user-friendly devices.
Innovations are firmly rooted in everyday life, and consumers are beginning to use software and hardware to manage their health. The recent trend of smart wearable devices is gaining popularity across the globe. The adoption of the smart wearable is highly boosted due to the impact of COVID-19. A new era of consumer-centric health has begun, bringing great future benefits to preventing, diagnosing, and treating cardiovascular diseases. Currently, several challenges are hampering the spread of wearable technology in clinical practice. With further sensor and computer technology development, wearables will process more complex functions and become an integral part of cardiovascular medical practices.
Global Wearable ECG Devices Market Report Scope
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Geographical Insights
North America is a major revenue contributor and accounts for 34.08% share of the global wearable ECG devices market. The region is the fastest-growing market for wearable ECG devices. North America offers tremendous opportunities for the players to boom in the market. The presence of a large pool of patients with atrial fibrillation requiring cardiac monitoring devices, higher acceptance of advanced and innovative wearable ECG devices, and high awareness toward the availability of advanced treatment options using devices for AF and stroke have collectively supported North America's dominance in the global market. Moreover, the region is the single largest market for wearable ECG devices, thus becoming strategically important to many prominent market players such as GE Healthcare, Koninklijke Philips, and others. For instance, GE Healthcare offers SEER 1000, SEER 12 Digital Holter ECG Recorder. Koninklijke Philips offers Holter Monitoring DigiTrak XT Holter System and Holter Monitoring Software. The Holter Monitoring DigiTrak XT Holter System is a sleek, streamlined recorder that is intended for patient comfort and streamlined workflows for all users. In addition, the Holter Monitoring Software can record, analyze, diagnose, and communicate ECG data quickly and accurately.
Vendor Insights
There are many emerging companies trying to compete in the patch-based wearable ECG devices market segment. Large medical device companies are adopting an acquisition strategy to invest or partner with many emerging vendors to diversify their product portfolio and strengthen their presence in the overall wearable ECG devices market. For instance, Philips acquired BioTelemetry, a leading vendor in the mobile cardiac telemetry segment, in February 2021. Similarly, Boston Scientific acquired Preventice Solutions in January 2021. This acquisition is likely to strengthen Boston Scientific, especially in the ambulatory wearable ECG device segment. Baxter International acquired Hill-Rom Services in December 2021. In May 2014, Medtronic acquired Corventis, focusing on the development of wireless cardiac monitoring patches.
ECG-Based Smartwatches: Key Company Profiles
Apple
Alphabet
Withings
Other Wearable ECG Devices: Key Company Profiles
Hill-Rom
Koninklijke Philips
Other Prominent Vendors
FUKUDA DENSHI
Masimo
Medicalgorithmics
Advanced Instrumentations
AMEDTEC MEDIZINTECHNIK AUE
ASPEL
Hangzhou Beneware Medical Equipment
Biotricity
Borsam Biomedical Instruments
BTL
Custo Med
Oy Diagnostic Devices Development – DDD
DMS-Service
Forest Medical
Holter Supplies
LPU Medical
LIVEWELL
Lumed
medical ECONET
Meditech Equipment
Midmark
Monitor
Neurosoft
Northeast Monitoring
Recorders & Medicare Systems
Schiller
Trimpeks
UPOLife
Market Segmentation
Product
Smartwatch-Based ECG
Mobile Cardiac Telemetry
Holter Monitoring
Cardiac Event Monitoring
Frequency
Episodic & Adhoc
Continuous
Geography
APAC
China
India
Japan
South Korea
Australia
Europe
Germany
Italy
Spain
France
UK
North America
US
Canada
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Turkey
South Africa
South Arabia
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 INTRODUCTION
7.1 OVERVIEW
7.1.1 WEARABLE ECG DEVICES
8 PREMIUM INSIGHTS
8.1 MARKET SCENARIO
8.1.1 OVERVIEW
8.1.2 MARKET SEGMENTATION
9 MARKET OPPORTUNITIES & TRENDS
9.1 INCREASING USE OF ADVANCED SENSORS & AI IN WEARABLE ECG DEVICES
9.2 EMERGENCE OF SMARTWATCHES EQUIPPED WITH ECG
9.3 NEW PRODUCT APPROVALS & LAUNCHES IN WEARABLE ECG DEVICES
9.4 GROWING POPULARITY OF SMART WEARABLE TECHNOLOGY IN ECG
10 MARKET GROWTH ENABLERS
10.1 INCREASING GLOBAL PREVALENCE OF CARDIOVASCULAR DISEASES
10.2 PARADIGM SHIFT FROM CONVENTIONAL ECG TOWARD AMBULATORY ECG
10.3 HIGH DEMAND FOR MCT & NEXT-GENERATION HOLTER MONITORS
11 MARKET GROWTH RESTRAINTS
11.1 LIMITATIONS & RISKS ASSOCIATED WITH WEARABLE ECG DEVICES
11.2 HIGH COST OF WEARABLE ECG DEVICES
11.3 AVAILABILITY OF ALTERNATE CARDIAC MONITORING DEVICES
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.2.1 GEOGRAPHY INSIGHTS
12.2.2 PRODUCT INSIGHTS
12.2.3 FREQUENCY INSIGHTS
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 SMARTWATCH-BASED ECG
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 MOBILE CARDIAC TELEMETRY
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
13.5 HOLTER MONITORING
13.5.1 MARKET OVERVIEW
13.5.2 MARKET SIZE & FORECAST
13.5.3 MARKET BY GEOGRAPHY
13.6 CARDIAC EVENT MONITORING
13.6.1 MARKET OVERVIEW
13.6.2 MARKET SIZE & FORECAST
13.6.3 MARKET BY GEOGRAPHY
14 FREQUENCY
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 EPISODIC & ADHOC
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.3.3 MARKET BY GEOGRAPHY
14.4 CONTINUOUS
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.4.3 MARKET BY GEOGRAPHY
15 GEOGRAPHY
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 GEOGRAPHIC OVERVIEW
16 NORTH AMERICA
16.1 MARKET OVERVIEW
16.1.1 MARKET SIZE & FORECAST
16.1.2 NORTH AMERICA: PRODUCT SEGMENTATION
16.1.3 NORTH AMERICA: FREQUENCY SEGMENTATION
16.2 KEY COUNTRIES
16.2.1 US: MARKET SIZE & FORECAST
16.2.2 CANADA: MARKET SIZE & FORECAST
17 EUROPE
17.1 MARKET OVERVIEW
17.1.1 MARKET SIZE & FORECAST
17.1.2 EUROPE: PRODUCT SEGMENTATION
17.1.3 EUROPE: FREQUENCY SEGMENTATION
17.2 KEY COUNTRIES
17.2.1 GERMANY: MARKET SIZE & FORECAST
17.2.2 FRANCE: MARKET SIZE & FORECAST
17.2.3 UK: MARKET SIZE & FORECAST
17.2.4 ITALY: MARKET SIZE & FORECAST
17.2.5 SPAIN: MARKET SIZE & FORECAST
18 APAC
18.1 MARKET OVERVIEW
18.1.1 MARKET SIZE & FORECAST
18.1.2 APAC: PRODUCT SEGMENTATION
18.1.3 APAC: FREQUENCY SEGMENTATION
18.2 KEY COUNTRIES
18.2.1 JAPAN: MARKET SIZE & FORECAST
18.2.2 CHINA: MARKET SIZE & FORECAST
18.2.3 INDIA: MARKET SIZE & FORECAST
18.2.4 SOUTH KOREA: MARKET SIZE & FORECAST
18.2.5 AUSTRALIA: MARKET SIZE & FORECAST
19 LATIN AMERICA
19.1 MARKET OVERVIEW
19.1.1 MARKET SIZE & FORECAST
19.1.2 LATIN AMERICA: PRODUCT SEGMENTATION
19.1.3 LATIN AMERICA: FREQUENCY SEGMENTATION
19.2 KEY COUNTRIES
19.2.1 BRAZIL: MARKET SIZE & FORECAST
19.2.2 MEXICO: MARKET SIZE & FORECAST
19.2.3 ARGENTINA: MARKET SIZE & FORECAST
20 MIDDLE EAST & AFRICA
20.1 MARKET OVERVIEW
20.1.1 MARKET SIZE & FORECAST
20.1.2 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION
20.1.3 MIDDLE EAST & AFRICA: FREQUENCY SEGMENTATION
20.2 KEY COUNTRIES
20.2.1 TURKEY: MARKET SIZE & FORECAST
20.2.2 SAUDI ARABIA: MARKET SIZE & FORECAST
20.2.3 SOUTH AFRICA: MARKET SIZE & FORECAST
21 COMPETITIVE LANDSCAPE
21.1 COMPETITION OVERVIEW
21.2 MARKET SHARE ANALYSIS
22 ECG-BASED SMARTWATCHES: KEY COMPANY PROFILES
22.1 APPLE
22.1.1 BUSINESS OVERVIEW
22.1.2 APPLE IN WEARABLE ECG DEVICES MARKET
22.1.3 PRODUCT OFFERINGS
22.1.4 KEY STRATEGIES
22.1.5 KEY STRENGTHS
22.1.6 KEY OPPORTUNITIES
22.2 ALPHABET
22.2.1 BUSINESS OVERVIEW
22.2.2 ALPHABET IN WEARABLE ECG DEVICES MARKET
22.2.3 PRODUCT OFFERINGS
22.2.4 KEY STRATEGIES
22.2.5 KEY STRENGTHS
22.2.6 KEY OPPORTUNITIES
22.3 SAMSUNG ELECTRONICS
22.3.1 BUSINESS OVERVIEW
22.3.2 SAMSUNG ELECTRONICS IN WEARABLE ECG DEVICES MARKET
22.3.3 PRODUCT OFFERINGS
22.3.4 KEY STRATEGIES
22.3.5 KEY STRENGTHS
22.3.6 KEY OPPORTUNITIES
22.4 WITHINGS
22.4.1 BUSINESS OVERVIEW
22.4.2 WITHINGS IN WEARABLE ECG DEVICES MARKET
22.4.3 PRODUCT OFFERINGS
22.4.4 KEY STRATEGIES
22.4.5 KEY STRENGTHS
22.4.6 KEY OPPORTUNITIES
23 OTHER WEARABLE ECG DEVICES: KEY COMPANY PROFILES
23.1 BOSTON SCIENTIFIC
23.1.1 BUSINESS OVERVIEW
23.1.2 BOSTON SCIENTIFIC IN WEARABLE ECG DEVICES MARKET
23.1.3 PRODUCT OFFERINGS
23.1.4 KEY STRATEGIES
23.1.5 KEY STRENGTHS
23.1.6 KEY OPPORTUNITIES
23.2 GE HEALTHCARE
23.2.1 BUSINESS OVERVIEW
23.2.2 GE HEALTHCARE IN WEARABLE ECG DEVICES MARKET
23.2.3 PRODUCT OFFERINGS
23.2.4 KEY STRATEGIES
23.2.5 KEY STRENGTHS
23.2.6 KEY OPPORTUNITIES
23.3 IRHYTHM TECHNOLOGIES
23.3.1 BUSINESS OVERVIEW
23.3.2 IRHYTHM TECHNOLOGIES IN WEARABLE ECG DEVICES MARKET
23.3.3 PRODUCT OFFERINGS
23.3.4 KEY STRATEGIES
23.3.5 KEY STRENGTHS
23.3.6 KEY OPPORTUNITIES
23.4 HILL-ROM
23.4.1 BUSINESS OVERVIEW
23.4.2 HILL-ROM IN WEARABLE ECG DEVICES MARKET
23.4.3 PRODUCT OFFERINGS
23.4.4 KEY STRATEGIES
23.4.5 KEY STRENGTHS
23.4.6 KEY OPPORTUNITIES
23.5 KONINKLIJKE PHILIPS
23.5.1 BUSINESS OVERVIEW
23.5.2 KONINKLIJKE PHILIPS IN WEARABLE ECG DEVICES MARKET
23.5.3 PRODUCT OFFERINGS
23.5.4 KEY STRATEGIES
23.5.5 KEY STRENGTHS
23.5.6 KEY OPPORTUNITIES
23.6 OSI SYSTEMS
23.6.1 BUSINESS OVERVIEW
23.6.2 OSI SYSTEMS IN WEARABLE ECG DEVICES MARKET
23.6.3 PRODUCT OFFERINGS
23.6.4 KEY STRATEGIES
23.6.5 KEY STRENGTHS
23.6.6 KEY OPPORTUNITIES
24 OTHER PROMINENT VENDORS
24.1 AEROTEL MEDICAL SYSTEMS
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.2 ADVANCED INSTRUMENTATIONS
24.2.1 BUSINESS OVERVIEW
24.2.2 PRODUCT OFFERINGS
24.3 AMEDTEC MEDIZINTECHNIK AUE
24.3.1 BUSINESS OVERVIEW
24.3.2 PRODUCT OFFERINGS
24.4 ASPEL
24.4.1 BUSINESS OVERVIEW
24.4.2 PRODUCT OFFERINGS
24.5 BPL MEDICAL TECHNOLOGIES
24.5.1 BUSINESS OVERVIEW
24.5.2 PRODUCT OFFERINGS
24.6 BARDY DIAGNOSTICS
24.6.1 BUSINESS OVERVIEW
24.6.2 PRODUCT OFFERINGS
24.7 BITTIUM
24.7.1 BUSINESS OVERVIEW
24.7.2 PRODUCT OFFERINGS
24.8 BIOTRICITY
24.8.1 BUSINESS OVERVIEW
24.8.2 PRODUCT OFFERINGS
24.9 BORSAM BIOMEDICAL INSTRUMENTS
24.9.1 BUSINESS OVERVIEW
24.9.2 PRODUCT OFFERINGS
24.10 BTL
24.10.1 BUSINESS OVERVIEW
24.10.2 PRODUCT OFFERINGS
24.11 CARDIACSENSE
24.11.1 BUSINESS OVERVIEW
24.11.2 PRODUCT OFFERINGS
24.12 CORTRIUM
24.12.1 BUSINESS OVERVIEW
24.12.2 PRODUCT OFFERINGS
24.13 CONTEC MEDICAL SYSTEMS
24.13.1 BUSINESS OVERVIEW
24.13.2 PRODUCT OFFERINGS
24.14 CUSTO MED
24.14.1 BUSINESS OVERVIEW
24.14.2 PRODUCT OFFERINGS
24.15 DMS-SERVICE
24.15.1 BUSINESS OVERVIEW
24.15.2 PRODUCT OFFERINGS
24.16 EB NEURO
24.16.1 BUSINESS OVERVIEW
24.16.2 PRODUCT OFFERINGS
24.17 EDAN INSTRUMENTS
24.17.1 BUSINESS OVERVIEW
24.17.2 PRODUCT OFFERINGS
24.18 FUKUDA DENSHI
24.18.1 BUSINESS OVERVIEW
24.18.2 PRODUCT OFFERINGS
24.19 FOREST MEDICAL
24.19.1 BUSINESS OVERVIEW
24.19.2 PRODUCT OFFERINGS
24.20 HANGZHOU BENEWARE MEDICAL EQUIPMENT
24.20.1 BUSINESS OVERVIEW
24.20.2 PRODUCT OFFERINGS
24.21 HOLTER SUPPLIES
24.21.1 BUSINESS OVERVIEW
24.21.2 PRODUCT OFFERINGS
24.22 LABTECH
24.22.1 BUSINESS OVERVIEW
24.22.2 PRODUCT OFFERINGS
24.23 LEPU MEDICAL TECHNOLOGY
24.23.1 PRODUCT OFFERINGS
24.24 LIVEWELL
24.24.1 BUSINESS OVERVIEW
24.24.2 PRODUCT OFFERINGS
24.25 LUMED
24.25.1 BUSINESS OVERVIEW
24.25.2 PRODUCT OFFERINGS
24.26 MASIMO
24.26.1 BUSINESS OVERVIEW
24.26.2 PRODUCT OFFERINGS
24.27 MEDICALGORITHMICS
24.27.1 BUSINESS OVERVIEW
24.27.2 PRODUCT OFFERINGS
24.28 MEDICAL ECONET
24.28.1 BUSINESS OVERVIEW
24.28.2 PRODUCT OFFERINGS
24.29 MEDICOMP
24.29.1 BUSINESS OVERVIEW
24.29.2 PRODUCT OFFERINGS
24.30 MEDITECH KFT
24.30.1 BUSINESS OVERVIEW
24.30.2 PRODUCT OFFERINGS
24.31 MEDITECH EQUIPMENT
24.31.1 BUSINESS OVERVIEW
24.31.2 PRODUCT OFFERINGS
24.32 MIDMARK
24.32.1 BUSINESS OVERVIEW
24.32.2 PRODUCT OFFERINGS
24.33 MONITOR
24.33.1 BUSINESS OVERVIEW
24.33.2 PRODUCT OFFERINGS
24.34 NASAN MEDICAL ELECTRONICS
24.34.1 BUSINESS OVERVIEW
24.34.2 PRODUCT OFFERINGS
24.35 NASIFF ASSOCIATES
24.35.1 BUSINESS OVERVIEW
24.35.2 PRODUCT OFFERINGS
24.36 NEUROSOFT
24.36.1 BUSINESS OVERVIEW
24.36.2 PRODUCT OFFERINGS
24.37 NORAV MEDICAL
24.37.1 BUSINESS OVERVIEW
24.37.2 PRODUCT OFFERINGS
24.38 NORTHEAST MONITORING
24.38.1 BUSINESS OVERVIEW
24.38.2 PRODUCT OFFERINGS
24.39 OY DIAGNOSTIC DEVICES DEVELOPMENT – DDD
24.39.1 BUSINESS OVERVIEW
24.39.2 PRODUCT OFFERINGS
24.40 RECORDERS & MEDICARE SYSTEMS
24.40.1 BUSINESS OVERVIEW
24.40.2 PRODUCT OFFERINGS
24.41 SCOTTCARE CARDIOVASCULAR SOLUTIONS
24.41.1 BUSINESS OVERVIEW
24.41.2 PRODUCT OFFERINGS
24.42 SCHILLER
24.42.1 BUSINESS OVERVIEW
24.42.2 PRODUCT OFFERINGS
24.43 SHENZHEN BIOCARE BIO-MEDICAL EQUIPMENT
24.43.1 BUSINESS OVERVIEW
24.43.2 PRODUCT OFFERINGS
24.44 SUZUKEN COMPANY
24.44.1 BUSINESS OVERVIEW
24.44.2 PRODUCT OFFERINGS
24.45 TRIMPEKS
24.45.1 BUSINESS OVERVIEW
24.45.2 PRODUCT OFFERINGS
24.46 UPOLIFE
24.46.1 BUSINESS OVERVIEW
24.46.2 PRODUCT OFFERINGS
24.47 VIVALNK
24.47.1 BUSINESS OVERVIEW
24.47.2 PRODUCT OFFERINGS
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY PRODUCT
26.1.1 NORTH AMERICA: PRODUCT SEGMENTATION
26.1.2 EUROPE: PRODUCT SEGMENTATION
26.1.3 APAC: PRODUCT SEGMENTATION
26.1.4 LATIN AMERICA: PRODUCT SEGMENTATION
26.1.5 MIDDLE EAST & AFRICA: PRODUCT SEGMENTATION
26.2 MARKET BY FREQUENCY
26.2.1 NORTH AMERICA: FREQUENCY SEGMENTATION
26.2.2 EUROPE: FREQUENCY SEGMENTATION
26.2.3 APAC: FREQUENCY SEGMENTATION
26.2.4 LATIN AMERICA: FREQUENCY SEGMENTATION
26.2.5 MIDDLE EAST & AFRICA: FREQUENCY SEGMENTATION
26.3 MARKET BY GEOGRAPHY
26.3.1 SMARTWATCH-BASED ECG: GEOGRAPHY SEGMENTATION
26.3.2 MOBILE CARDIAC TELEMETRY: GEOGRAPHY SEGMENTATION
26.3.3 HOLTER MONITORING: GEOGRAPHY SEGMENTATION
26.3.4 CARDIAC EVENT MONITORING: GEOGRAPHY SEGMENTATION
26.3.5 EPISODIC & ADHOC: GEOGRAPHY SEGMENTATION
26.3.6 CONTINUOUS: GEOGRAPHY SEGMENTATION
27 APPENDIX
27.1 ABBREVIATIONS
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