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

The North America ECG devices market size is expected to reach US$ 1,793.81 million by 2031 from US$ 1,304.80 million in 2024. The market is estimated to record a CAGR of 4.7% from 2024 to 2031.

Executive Summary and North America ECG Devices Market Analysis:

The ECG devices market in North America is segmented into the US, Canada, and Mexico. The North American region is anticipated to play a pivotal role in driving the market's growth. Key factors contributing to this growth include the increasing incidence of cardiovascular disease, an increased focus on preventive healthcare, and the presence of well-developed healthcare infrastructure. Additionally, government support, an aging population, and growing awareness of heart-related diseases are further propelling the expansion of the ECG devices market in the region. Technological advancements have also played a crucial role. Innovations in digital ECG devices have enhanced accuracy, portability, and user-friendliness, making them more accessible and effective for both healthcare providers and patients.

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North America ECG Devices Market: Strategic Insights

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North America ECG Devices Market Segmentation Analysis:

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

• Based on product, the North America 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 North America 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 North America 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 North America 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.

North America ECG Devices Market Report Scope

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

The North America 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.

North America ECG Devices Market Outlook

Continuous technological advancement and increasing demand for continuous health monitoring have paved the way for smart ECG wearable devices. The increasing trend toward smart ECG wearable devices is driven mainly by the growing acceptance of smartwatches and fitness trackers integrated with ECG sensors for live heart health monitoring. For instance, Apple Watch Series 4 and later versions have an FDA-approved ECG app which helps in the detection of atrial fibrillation (AFib) and other heart conditions. Similarly, ECG functionality in the Fitbit Sense smartwatch allows users to detect irregular heart rhythms. The integration of ECG technology into wearable devices allows for continuous heart health monitoring, contrary to traditional ECG testing. The surging inclination toward long-term monitoring would allow for the early detection of heart abnormalities, possibly reducing hospital visits and healthcare expenditure. As per the JAMA Cardiology report, the detection of heart conditions via wearable ECG monitors was found to be beneficial in improving the outcome of patients and reducing mortality. Furthermore, the advancement in artificial intelligence (AI), along with key technological progress, is expected to create demand for smart ECG wearable devices. Algorithms based on artificial intelligence will analyze ECG data in real-time to provide predictive insights into problems with the heart long before it can become a significant issue. The increasing accuracy, decreasing costs, and integration of wearable ECG with telehealth platforms will lead to the era of personalized cardiovascular care, contributing to the ECG devices market growth in the coming years.

North America ECG Devices Market Country Insights

Based on country, the North America ECG devices market comprises the US, Canada, and Mexico. The US held the largest share in 2024.

In the US, the demand for ECG devices has been particularly strong due to factors such as the rising geriatric population, growing prevalence and awareness of cardiovascular diseases, increasing focus on preventive healthcare, technological advancements in monitoring vital cardiac indicators, and the push for remote monitoring. According to the Centers for Disease Control and Prevention (CDC), ~805,000 people experience a heart attack in the country every year, of which ~605,000 individuals are first-time heart attacks. As per the Million Hearts 2021 data, ~1.5 million myocardial infarctions and strokes occur in the US annually. The most common type of heart disease in the nation is coronary artery disease (CAD). Per the CDC 2022 estimates, 20.1 million US adults report CAD. ECG devices, which are critical in diagnosing and monitoring various heart conditions such as arrhythmia, heart attack, and heart failure, play a vital role in early detection, treatment planning, and long-term management of CVD.

According to the American Heart Association, nearly half of adults in the US have some type of CVD, and it is estimated that the number of adults suffering from heart failure is projected to increase by 2035 by 40%. By 2035, over 130 million adults, i.e., 45.1% of the US population, are expected to report some form of CVD. These devices are noninvasive, quick, and provide clues to guide further management, such as the need for more advanced imaging or medical interventions.

North America 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.

North America 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