Europe ECG Devices Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The Europe ECG devices market size is expected to reach US$ 1,367.07 million by 2031 from US$ 1,020.74 million in 2024. The market is estimated to record a CAGR of 4.3% from 2024 to 2031.

Executive Summary and Europe ECG Devices Market Analysis:

Europe ECG devices market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The market growth is attributed to the aging population and rising heart disease prevalence. Government initiatives and favorable reimbursement policies have also played a crucial role in market expansion. Factors such as unhealthy diets, sedentary lifestyles, and increased tobacco and alcohol consumption are contributing to a higher incidence of heart-related conditions, thereby boosting the demand for ECG devices. Technological innovations have also played a pivotal role in transforming the ECG landscape, further fueling the demand for ECG devices in Europe.

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Europe ECG Devices Market: Strategic Insights

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Europe ECG Devices Market Segmentation Analysis:

Key segments that contributed to the derivation of the Europe ECG devices market analysis are product, lead type, technology, and end user.

• Based on product, the Europe ECG devices market is bifurcated into resting ECG and stress ECG. The resting ECG segment held a larger share of the market in 2024.

• By lead type, the Europe ECG devices market is segmented into 12-lead ECG, 3-6 lead ECG, and single lead. The 12-lead ECG segment held the largest share of the market in 2024.

• Based on technology, the Europe ECG devices market is bifurcated into portable (Wired) ECG system and wireless ECG system. The wireless ECG system segment held a larger share of the market in 2024.

• Based on end user, the Europe ECG devices market is segmented into hospital and clinics, ambulatory surgical centers, cardiac centers, and others. The hospital and clinics segment held the largest share of the market in 2024.

Europe ECG Devices Market Report Scope

Europe ECG Devices Market Players Density: Understanding Its Impact on Business Dynamics

The Europe ECG Devices Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Europe ECG Devices Market Outlook

Companies operating in the ECG devices market constantly focus on strategic developments such as product approvals, collaborations, funding, agreements, and new product launches to improve their sales, increase their geographic reach, and reinforce their capacities to cater to a large customer base. A few strategic initiatives by key players operating in the ECG devices market are mentioned below.

• In November 2024, Schiller launched the new medilogFD Holter ECG device for a spatial heart health analysis that allows assessing the full spectrum of cardiac ECG conditions; it instantly detects atrial fibrillation/atrial flutter based on true P-wave analysis.

• In January 2022, Philips launched its first at-home, 12-lead ECG integrated solution for decentralized clinical trials; this is the most advanced patient-centric ECG solution within the company's cardiac monitoring portfolio, combining data readings similar to clinical, site-based ECGs with Philips cloud-based data collection and analysis services.

Therefore, ongoing product launches and approvals, and collaborations are expected to create ample opportunities for the ECG devices market in the coming years.

Europe ECG Devices Market Country Insights

Based on country, the Europe ECG devices market comprises Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany held the largest share in 2024.

According to the DZG 2022 report, in Germany, the incidence of CVD is increasing and is the leading cause of death in the country. According to the recent Deutscher Herzbericht 2022 figures, 121,172 deaths were reported due to coronary heart disease (CHD) in 2021, with 45,181 of those cases resulting from acute heart attacks. The CHD death rate equates to 129.7 per 100,000 individuals, while the death rate for heart attacks stood at 48.1 per 100,000 individuals. As per aarpinternational.org, Germany is one of five "super-aged" societies across the globe and will increase to 24 million by 2035. By 2050, one-third of its population will be 65 years or older. As the elderly population is susceptible to suffer from cardiovascular diseases, there is an increasing need for diagnostic and monitoring tools to manage these health issues effectively. The German healthcare system's well-established infrastructure and substantial healthcare expenditures have also facilitated the adoption of advanced ECG technologies. Germany invests significantly in healthcare research and infrastructure among all the nations that are a part of the European Union. According to Eurostat, the healthcare expenditure in Germany accounted for US$ 522.01 billion (489 billion) in 2022, which was one of the highest expenditures for healthcare among the EU member states; this can be related to the high capital investments dedicated to the development, research, and manufacturing of portable medical devices.

Europe ECG Devices Market Company Profiles

Some of the key players operating in the market include GE HealthCare Technologies Inc; Spacelabs Healthcare; Nihon Kohden Corp; Schiller AG; Hill-Rom Holdings Inc; BPL Medical Technologies Pvt Ltd; Koninklijke Philips NV; AliveCor, Inc; FUKUDA DENSHI; EB Neuro S.P.A; Shenzhen Mindray Bio-Medical Electronics Co Ltd; Viatom Technology Co., Ltd.; CompuMed Inc.; Norav Medical; and custo med GmbH, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Europe ECG Devices Market Research Methodology:

The following methodology has been followed for the collection and analysis of data presented in this report:

Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.

• Industry trade journals and other relevant publications.

• Government documents, statistical databases, and market reports.

• News articles, press releases, and webcasts specific to companies operating in the market.

Note:

All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.

• Enhance the expertise and market understanding of the analysis team.

• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers

• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise