Market Overview/Outlook (2022 to 2030)
The global Mobile ECG system market was valued at USD 2.34 Billion in 2022 and is projected to reach USD 3.53 Billion by 2030, registering a CAGR of 5.3 % for the forecast period 2023-2030.
Market Definition
Mobile ECG (Electrocardiogram) systems are portable, compact, and easy-to-use tools designed to measure and record the electrical activity of the heart. It is used for monitoring the heart's health and diagnosis of many cardiac problems. It has many advantages over traditional ECG machines, mobile ECG machines are small enough to be carried out anywhere in the pocket, and will be ready to go whenever needed. Mobile ECG systems are lightweight, compact, and usually designed to be easy to use for users.
A general mobile ECG system contains components and features like portable hardware, electrodes, data processing and transmission, wireless connectivity, mobile applications, and battery power. Most mobile ECG systems have wireless connectivity, with this feature it can transmit data with other devices like computers, mobiles, or tablets. Mobile ECG systems are often available with suitable mobile applications which display the recorded data in real-time, they can be stored and shared.
Market Size:
- 2022: USD 2.34 billion
- 2030: USD 3.53 billion
- CAGR (2023-2030): 5.3%
Mobile ECG System Market Dynamics
Drivers Propelling the Demand for Mobile ECG system market include:
Rising Cardiovascular Disease is driving the growth of the mobile ECG system market:
Cardiac disease is one of the major causes of the global mortality rate in recent times. The World Health Organization (WHO) data says that 17.9 million deaths happen annually due to cardiovascular diseases. It is approximately 31% of the total global deaths. It is rapidly impacting the mobile ECG system market due to an increase in demand for monitoring, diagnostic advancement, preventive health care initiatives etc. With an increasing incidence of heart-related problems, there is a rising demand for regular monitoring solutions. Mobile ECG systems provide advanced diagnostic features. They can detect atrial fibrillation, arrhythmias and other heart-related abnormalities, it ensures timely medical intervention. Early detection drastically reduces major damage in emergency situations. Government and other healthcare organizations globally are investing in preventive healthcare programs.
Growing awareness and health consciousness among people are driving the growth of the mobile ECG system Market:
Increasing awareness about preventive healthcare and the importance of regular monitoring of health has led people to use portable and easy-to-use health monitoring devices. Mobile ECG systems allow the user to monitor their heart conveniently. Globally people shifting towards preventive healthcare, major reason is mobile ECG systems enable early detection and management of various conditions. The pandemic has drastic changes in people's mindset about their own health, people started taking care of their personal health and taking preventive steps towards resolving it. Mobile ECG systems are becoming an essential tool for monitoring cardiac health remotely enabling a drastic reduction in higher risk.
Recent Developments
In August 2023, Phillips global leader in health technology, highlighted how it integrates AI in cardiac ultrasound and across cardiac care to help improve clinical confidence and increase efficiency. This is help to increase the market size of mobile ECG system market.
Restraint in the Mobile ECG System Market
Data Security and privacy concerns are restraining the growth of the mobile ECG system market:
Data safety is one of the major concern in the mobile ECG system market. People are always worried that their personal health information might be misused or stolen to take advantage of it. This fear makes many of them avoid or hesitate to use mobile ECG systems, even if they will benefit from it. To make people believe protected while using mobile ECG systems, companies taking action to make sure each and every piece of data will be secured. The government also need to set some boundaries and regulations to make it more secure and safe for users. When people know it is safe for them to use, they will be more likely to use mobile ECG systems for health benefits.
Challenges in the mobile ECG system market:
Accuracy and reliability concerns are challenging for the mobile ECG system market
In the Mobile ECG system market, significant concern revolves around the accuracy and reliability of these devices. Stakeholders, including healthcare persons and patients, all majorly rely on consistent and trustworthy heart activity for making specific decisions about health management. Small variations in the accuracy of the different devices can raise doubts and compromise the accuracy of diagnosis. Addressing these concerns is crucial for the wider adoption of mobile ECG systems. Manufacturers are continuously trying to improve the reliability and correctness of these devices, striving to Establish trust among both patients and medical representatives.
Opportunities in the mobile ECG system market
Expansion of remote patient monitoring is opportunity for the mobile ECG system market:
Continuous advancements in technology, especially in the field of data analytics, connectivity, and high-quality sensors, significantly create opportunities in the mobile ECG system market to make expansion of remote patient monitoring services. Mobile ECG systems enable healthcare persons to remotely monitor patients' heart health in real-time, providing regular and updated data on time. This is especially very useful for people with chronic heart conditions, as it enables timely monitoring, reduces regular checkups at hospitals, and improves overall patient outcomes. Continuous monitoring results in the early detection of cardiac abnormalities, allowing for prompt medical intervention. By preventing complications and hospitalization, remote patient monitoring with mobile ECG systems contributes significant cost savings for both doctors and patients.
Snapshot
| Attributes | Details |
| Market Size in 2022 | USD 2.34 Billion |
| Market Forecast in 2030 | USD 3.53 Billion |
| Compound Annual Growth Rate (CAGR) | 5.53% |
| Segmentation | By Type, Modality, End users and Region |
| Regions Covered | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope |
U.S.; Canada; Mexico; UK; Germany; France; Italy; Spain; India; JaPAN; China; Southeast Asia, Brazil; Argentina; GCC Countries, UAE, and South Africa. |
| Key Company Profiled | Key companies profiled in the Mobile ECG System Market report MD Biomedical Inc., Cardio Comm Solutions Inc., THOR, Koninklijke Philips N.V., Bittium and Others. |
| Customization scope | Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Segment Analysis of the Mobile ECG System Market:
The Mobile ECG system market is segmented by facility type, service, end users, and region.
By Modality
The handheld segment was the leading segment in 2022.
The handheld segment held the largest share of the market. Cardiovascular diseases (CVDs) are the major cause of mortality all over the world. As the ECG devices collect the electrical signal from the heart to check for various heart conditions it benefits in early recognition of cardiovascular manifestations, including palpitations, syncope, angina, and dyspnea, and patients with such symptoms need to visit their doctors for evaluation.
Handheld ECG devices are easy to carry, making them easier for patients and healthcare professionals. They can be utilized in different settings, such as clinics, hospitals, and even at home. This device often comes equipped with connectivity options, including Wi-Fi or Bluetooth which help for data transmission to healthcare providers or doctors.
By End users
The personal users segment dominated the global mobile ECG system market, in 2022.
Mobile ECG systems give the benefits of monitoring one’s heart health from the comfort of their household. This helps individuals who want to monitor their cardiac health regularly without going to a hospital. The increasing emphasis on fitness and wellness has led to an interest in tracking heart health during workouts and daily activities. Leap concern about heart health and the danger of cardiovascular diseases has elicited many to take a proactive approach to asses their heart fitness.
Regional Analysis
North America occupies the largest market share in 2022:
North America will hold the largest Global mobile ECG devices market owned to the older population and the increasing concern of cardiovascular diseases. Moreover, it is forecasted that the presence of import competitors and the regular approvals, developments and launches of new products would help to the rise of this market.
Various major mobile ECG device manufacturers and healthcare technology companies are based in North America. The region is at the contributes higher of technological advancements, with a strong proof of digital health. This motivated the development of mobile ECG solutions that mixed with smartphones and other digital platforms.
Competition Analysis
Key companies profiled in the Mobile ECG System market are MD Biomedical Inc., Cardio Comm 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 and others. These companies are adopting strategies such as facility expansions, mergers, acquisitions, new product launches, and collaborations to gain a competitive edge in the market.
List of the prominent players in the Mobile ECG System Market:
Key companies profiled in the Mobile ECG System market are MD Biomedical Inc., Cardio Comm 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 and others. These companies are adopting strategies such as facility expansions, mergers, acquisitions, new product launches, and collaborations to gain a competitive edge in the market.
Segmentation Analysis of the Mobile ECG System Market
By Type
- Monitoring ECG Systems
- Diagnostic ECG System
By Modality
- Pen
- Band
- Handheld
- Others
By End users
- Ambulatory Services
- Personal Users
- Hospitals and Clinic
Impact of the COVID-19 Pandemic on the Mobile ECG System Market:
The impact of COVID-19 on mobile ECG (Electrocardiogram) systems has been significant. The pandemic increased the need for remote healthcare monitoring. With the rise in telehealth services during the COVID mobile ECG devices played an important role in enabling remote consultations and diagnostics. Physicians could remotely evaluate patients’ heart health help of these devices. Innovations in mobile ECG systems have been accelerated by the need to enhance remote monitoring and diagnosis.
Many mobile ECG systems have mixed with wearable devices including smartwatches, providing users with continuous heart monitoring and early detection of heart-related problems. The effect of COVID-19 on mobile ECG systems has led to raised concern, accessibility, and change in remote cardiac monitoring which help increase the market size in the upcoming year.
