Europe Mobile ECG Devices Market

Market Introduction

ECG devices monitors and record electrical activity of the heart and the device detects and picks up electrical impulses generated by the polarization and depolarization of cardiac tissue and translate them into waveform. A mobile ECG monitoring device is the complete diagnostic solution for diagnosis of arrhythmia and provides full disclosure ECG signal, data, analysis, reporting, and allows monitoring of heart at anyplace at any time, such as, home. It consists of two divisions, including, the analog signal receiver that reads, amplifies and convert the signal to digital form and the other part is a wireless transmitter that sends the data to storage devices so that it can be analyzed by physicians and medical personnel. It connect with Wi-Fi, Bluetooth, or the internet to mobiles, tablets, among others.

Europe Mobile ECG Devices Strategic Insights

Strategic insights for the Europe Mobile ECG Devices provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Mobile ECG Devices Report Scope

Europe Mobile ECG Devices Regional Insights

The geographic scope of the Europe Mobile ECG Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Europe mobile ECG devices market is expected to reach US$ 621.40 million by 2028 from US$ 453.93 million in 2021; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The market growth is attributed to technological advancements in portable and handheld ECG devices, rise in the incidence of cardiovascular diseases, increase in geriatric population, and favorable government regulations regarding monitoring devices. However, aspects such as unfavorable reimbursement policies and market saturation restrict the mobile ECG devices market growth in Europe.

Unhealthy diet is one of the most important lifestyle factors leading to cardiovascular diseases. The increasing prevalence of cardiovascular diseases, and the consequently rising need for the continuous monitoring of ECG levels to provide accurate analysis, propel the demand for mobile ECG devices. ECG systems are the most effective instruments for detecting arrhythmias (abnormal heart rhythm), coronary artery disease, atrial fibrillation, previous heart attack, and other conditions. According to the World Health Organization (WHO), CVDs are the leading cause of death worldwide, with 17.9 million deaths caused in the world each year; moreover, 30 million people suffer from stroke every year. According to the WHO factsheets, ~17.7 million people died due to CVDs in 2017, of which ~7.4 million mortalities were due to coronary heart disease and 6.7 million were due to stroke. The European Society of Cardiology reported that atrial fibrillation is a commonly found condition in the region, and the patients suffering from atrial fibrillation are at a five-times greater risk of getting a stroke. Along with the increasing incidence of cardiac diseases and the need to reduce hospital stays of patients, which otherwise require a long-term care, there is a surge in demand for mobile ECG devices.  Mobile ECG devices are inexpensive, disposable, and easy to use compared to traditional ECG equipment.

The European region is severely affected by the exponential growth in COVID-19 cases. As per the European Centre for Disease Prevention and Control (ECDC), social restrictions were reintroduced after the onset of the second wave of COVID-19 in the UK, Spain, and Italy. The recurrent surge in cases with uncertain intervals has been hampering healthcare sectors in European countries. The mobile ECG devices market witnessed shortcomings at the beginning of the COVID-19 crisis due to disruption in the supply chain, slump in demand, and disturbances in manufacturing and operations. Additionally, medical appointments and surgeries were delayed in many clinics in Europe. The impact of pandemic was also seen on the new product launches and ongoing clinical trials of medical devices, resulting in decreased sales of mobile ECG devices in the region. However, with the implementation of proper guidelines and following protocols to reduce SARS-CoV-2 exposure, and bringing restrictions on movements to ease, the market is expected to resurge during the forecast period.

Key Market Segments

The Europe mobile ECG devices market, based on type, has been segmented into monitoring ECG systems and diagnostic ECG systems. The monitoring ECG systems segment held a larger share of the market in 2021. Moreover, the monitoring ECG systems segment is anticipated to register a higher CAGR in the market during the forecast period due to product innovation, and incumbent usage and high-volume consumption of these products.

The Europe mobile ECG devices market, based on application, is segmented into handheld, band, pen, and others. In 2021, the handheld segment held the largest share of the market. Moreover, the segment is also expected register the fastest CAGR in the market during 2021–2028.

The Europe mobile ECG devices market, based on end user, is segmented into personal users, hospitals and clinics, and ambulatory services. In 2021, the personal users segment accounted for the largest share of the market. Moreover, the segment is expected to witness the highest CAGR in the market during 2021–2028.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the Europe mobile ECG devices market are the European Heart Rhythm Association (EHRA), International Trade Administration (ITA), European Centre for Disease Prevention and Control (ECDC), and Public Health England (PHE).

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of Europe mobile ECG devices market over the next years.
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• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the Europe mobile ECG devices market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Europe mobile ECG devices market.

EUROPE MOBILE ECG DEVICES MARKET SEGMENTATION

By Type

• Monitoring ECG Systems
• Diagnostics ECG Systems

By Modality

• Handheld
• Band
• Pen
• Others

By End Use

• Personal users
• Hospitals and Clinics
• Ambulatory Services

By Country

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• THOR
• Koninklijke Philips N.V.
• Bittium Biosignals LTD. (Subsidiary of Bittium Corporation)
• Medtronic
• AliveCor, Inc
• Nihon Kohden Corporation
• EB Neuro S.P.A
• Cardiocity Limited