Mobile ECG Devices Market Developments and Forecast by 2028

Historic Data: 2019-2020   |   Base Year: 2021   |   Forecast Period: 2022-2028

Mobile ECG Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Monitoring ECG Systems and Diagnostics ECG Systems), Modality (Handheld, Pen, Band, and Others), and End User (Personal Users, Hospitals and Clinics, and Ambulatory Services)

  • Report Date : Dec 2022
  • Report Code : TIPRE00026061
  • Category : Life Sciences
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 176

The mobile ECG devices market is projected to reach US$ 2,366.81 million by 2028 from US$ 1,704.91 million in 2021; it is expected to grow at a CAGR of 5.0% from 2022 to 2028.

Mobile ECG device is used for self-monitoring of heart function at home or on the move. The device is majorly used by people suffering from high blood pressure, high cholesterol, hereditary medical conditions, stress, lack of sleep, overweight, health risks caused due to the high consumption of tobacco. The mobile ECG devices come with sensors that attach to people’s skin. This allows them to record the electrical signals that the heart produces. 

Factors such as the rising incidence of cardiovascular diseases and heart-related conditions and increasing geriatric population fuel the market growth. However, stringent regulatory requirements and technical issues hinder the market growth. Further, during the forecast period, the increasing potential in the developing nations is expected to offer significant growth opportunities to the market players to expand their customer base, especially in developing countries.

The global impacts of COVID-19 outbreak are being felt across several markets. Although the healthcare sector witnessed outbreaks of other viruses, such as SARS and H1N1, in the last few years, the severity of the COVID-19 made the situation complicated due to its mode of transmission. North America witnessed the growing number of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of cases reached to 50.14 million with 810,254 deaths in the US, as of December 07, 2021. Similar impact was noticed in Mexico and Canada. The mobile ECG devices market witnessed a shortfall at the beginning of the COVID-19 crisis due to disruption in the supply chain and slumped demand due to the lockdown announced by European countries that caused disruptions in manufacturing and operations. Moreover, market players also witnessed disruption in their business operations since March 2020, as US healthcare authorities framed policies about elective cardiac surgeries. Also, to free-up limited space for people being treated for the virus, hospitals have postponed or cancelled. However, demand for vital sign monitoring devices in the region had a substantial impact on the adoption of ECG devices. It also impacted the new product launches and ongoing clinical trials of medical devices, positive impact on sales and growth of the mobile ECG devices market.

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Mobile ECG Devices Market: Strategic Insights

mobile-ecg-devices-market
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Market Insights

Increase in Geriatric Population Fuels Mobile ECG Devices Market Growth

The elderly population majorly suffers from heart diseases, such as cardiovascular diseases (CVD), due to the structural and functional changes in their cardiovascular systems associated with aging. Aging leads to the stiffening of the heart and blood vessels. Thus, arrhythmias are a common risk factor in people of age 75 and above. Also, coronary artery disease and heart failure are the other risk conditions among these people. ECG records are used to screen, diagnose, and monitor various heart conditions, ranging from minor risk to life-threatening risks conditions.

ECG monitoring acts as an essential part of healthcare delivery for older adults due to which the elderly population is a primary target of mobile ECG monitoring system providers. Additionally, the number of people aged 65 and above is estimated to reach 1.5 billion across the world by 2050. Therefore, the number of people having health issues, such as CVD, also would increase as outbreaks of diseases related to the aging population due to their weak immunity. Thus, the demand for technological innovations, such as mobile and wireless devices, would grow in the future as they improve older people's CVD prevention and control and other healthcare aspects.

Modality-Based Insights

The global mobile ECG devices market, based on modality, is segmented into handheld, band, pen, and others. In 2021, the handheld segment held the largest share of the market. Cardiovascular diseases (CVDs) are the major cause of mortality worldwide, accounting for 17.3 million deaths per year, a number that is expected to grow to more than 23.6 million by 2030. As the ECG devices records the electrical signal from heart to check for different heart conditions it helps in early recognition of cardiovascular manifestations, such as angina, dyspnea, palpitations, and syncope are emphasized, and patients with such symptom need to visit their doctors for evaluation.

Type-Based Insights

The mobile ECG devices market, based on type, is bifurcated into monitoring ECG systems and diagnostics ECG systems. In 2021, the monitoring ECG systems segment held a larger share of the market. Moreover, the same segment is expected to register a higher CAGR of 5.4% during 2022 to 2028.

End Users-Based Insights

The mobile ECG devices market, based on end users, is segmented into personal users, hospitals and clinics, and ambulatory services. The personal users segment held the largest share of the market in 2021. Also, the personal users segment is anticipated to register the highest CAGR in the market during the forecast period.

Companies operating in the mobile ECG devices market adopt the treatment innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

  • In February 2022, AliveCor announced the launch of the KardiaMobile Card, the slimmest, most convenient personal ECG device ever created. At the size of a standard credit card, KardiaMobile Card fits easily into any wallet and delivers a medical-grade, single-lead ECG in 30 seconds.
  • In February 2022, Bittium Biosignals Ltd and British ECG service provider Technomed Limited have signed a distributor agreement concerning Bittium Faros ECG measuring devices and Bittium Respiro sleep apnea measuring devices and software. The agreement defines the distribution rights for both devices.
  • In January 2022, Royal Philips announced the introduction of the industry’s first full-service, at-home, 12-lead electrocardiogram (ECG) solution for use in decentralized clinical trials.
  • In November 2021, Philips to expand its cardiac diagnostics and monitoring portfolio with the acquisition of Cardiologs.
  • In Septemer 2021, Bittium has signed an agreement with Technomed Limited to purchase a 25 percent stake in Technomed's capital stock and strengthen the partnership between the companies in the development of ECG technology.

Mobile ECG Devices Market Regional Insights

The regional trends and factors influencing the Mobile ECG Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mobile ECG Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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  • Get the Regional Specific Data for Mobile ECG Devices Market

Mobile ECG Devices Market Report Scope

Report Attribute Details
Market size in 2021 US$ 1.7 Billion
Market Size by 2028 US$ 2.37 Billion
Global CAGR (2021 - 2028) 5.0%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Monitoring ECG Systems and Diagnostics ECG Systems
By Modality
  • Handheld
  • Pen
  • Band
By End User
  • Personal Users
  • Hospitals and Clinics
  • Ambulatory Services
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • MD Biomedical Inc.
  • CardioComm Solutions Inc.
  • THOR
  • Koninklijke Philips N.V.
  • Bittium Biosignals LTD.
  • Medtronic
  • AliveCor, Inc
  • Nihon Kohden Corporation
  • EB Neuro S.P.A

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

    The Mobile 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.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Mobile ECG Devices Market are:

    1. MD Biomedical Inc.
    2. CardioComm Solutions Inc.
    3. THOR
    4. Koninklijke Philips N.V.
    5. Bittium Biosignals LTD.

    Disclaimer: The companies listed above are not ranked in any particular order.


    mobile-ecg-devices-market-cagr

    • Get the Mobile ECG Devices Market top key players overview

    Company Profiles

    • MD Biomedical Inc.        
    • CardioComm Solutions Inc.
    • THOR
    • Koninklijke Philips N.V.
    • Bittium Biosignals LTD.
    • Medtronic
    • AliveCor, Inc
    • Nihon Kohden Corporation
    • EB Neuro S.P.A            
    • Cardiocity Limited
    • Preventice Solutions  

    Frequently Asked Questions

    What is mobile ECG devices?

    A mobile ECG device is suitable for self-monitoring of heart function at home or on the move. This makes it well suited for people with increased health risks caused by high blood pressure, increased cholesterol, hereditary medical risks, stress, lack of sleep, being overweight, high consumption of tobacco, etc. The mobile ECG devices come with sensors that attach to people’s skin. This allows them to record the electrical signals that the heart produces.

    What are the driving factors for the mobile ECG devices market across the globe?

    Key factors that are driving the growth of this market are Increase in geriatric population and rise in incidence of cardiovascular diseases and heart-related conditions are expected to boost the market growth for the mobile ECG devices over the years.

    What is the market CAGR value of mobile ECG Devices market during forecast period?

    The CAGR value of the mobile ECG devices market during the forecasted period of 2022-2028 is 5.0%.

    Which type held the largest share in the mobile ECG devices market?

    The monitoring ECG systems segment dominated the global mobile ECG devices market and accounted for the largest market share of 60.39% in 2021.

    Which region is expected to witness significant demand for mobile ECG devices market in the coming years?

    Global mobile ECG devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. In North America, the U.S. is the largest market for mobile ECG devices. The growth of this market is primarily driven by driven by the factors such as increasing incidence of heart diseases including CVD, stroke and others, presence of well-developed healthcare infrastructure, government support is some of the prominent factors propelling the market growth. Asia Pacific registered as the fastest-growing region in the global mobile ECG devices market. The market is this region is expected to grow significantly in countries such as China, and Japan. The market is driven by high prevalence of heart diseases, rise in awareness about cardiac diseases, increase in the geriatric population and advancing healthcare infrastructure. Furthermore, growing number of new product launches and approvals are also anticipated to drive the growth of the market. Therefore, the region holds huge potential for the mobile ECG devices market players to grow during the forecast period.

    Which are the top companies that hold the market share in mobile ECG devices market?

    Koninklijke Philips N.V. and Nihon Kohden Corporation are the top two companies that hold huge market shares in the mobile ECG devices market.

    Who are the key players in the mobile ECG devices market?

    The mobile ECG devices market majorly consists of the players such MD Biomedical Inc, CardioComm Solutions Inc, THOR, Koninklijke Philips NV, Bittium Biosignals LTD, Medtronic, AliveCor Inc, Nihon Kohden Corporation, EB Neuro SPA, Cardiocity Limited, and Preventice Solutions amongst others.

    Which end user held the largest share in the mobile ECG devices market?

    The personal users segment dominated the global mobile ECG devices market and held the largest market share of 50.20% in 2021.

    Which modality led the mobile ECG devices market?

    The handheld segment held the largest share of the market in the global mobile ECG devices market and held the largest market share of 39.23% in 2021.

    Mrinal Kerhalkar
    Mrinal Kerhalkar
    Manager,
    Market Research & Consulting

    Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

    Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

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    The List of Companies - Mobile ECG Devices Market

    1. MD Biomedical Inc.        
    2. CardioComm Solutions Inc.
    3. THOR
    4. Koninklijke Philips N.V.
    5. Bittium Biosignals LTD.
    6. Medtronic          
    7. AliveCor, Inc
    8. Nihon Kohden Corporation
    9. EB Neuro S.P.A                 
    10. Cardiocity Limited
    11. Preventice Solutions
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