South and Central America 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.

South and Central America Mobile ECG Devices Strategic Insights

Strategic insights for the South and Central America 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.

South and Central America Mobile ECG Devices Report Scope

South and Central America Mobile ECG Devices Regional Insights

The geographic scope of the South and Central America 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 South and Central America mobile ECG devices market is expected to reach US$ 162.43 million by 2028 from US$ 121.61 million in 2021; it is estimated to grow at a CAGR of 4.2% during 2021–2028. 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 South and Central America.

ECG monitoring is an essential part of the healthcare services for older adults due to which the elderly population is a primary target of mobile ECG monitoring system providers. According to the US Census Bureau, the number of Americans with age 65 and above is anticipated to double from 46 million in 2016 to more than 98 million by 2060, and the share of elderly population in the total population will increase to ~24% from ~15% during this period. With a significant rise in the number of people aged 65 and above, the number of people suffering from CVDs is likely to increase in the coming years as the prevalence of these diseases is associated with aging due to weak immunity among these people. Thus, the demand for mobile and wireless devices, and other technological advancements to ensure improved CVD prevention and control is likely to rise in the future. Therefore, the geriatric population is also prone to arrhythmia, among other aging-related diseases, which is likely to boost the demand for mobile ECG devices for diagnosis and treatment during the forecast period. The 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, which cause 17.9 million deaths 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. Therefore, the rise in the incidence of cardiovascular diseases and other heart-related conditions is driving mobile ECG device market growth.

South and Central America has witnessed rapid rise in the number of COVID-19 cases. The COVID? 19 pandemic put the overburdened and underfunded public healthcare systems of South and Central America into further burden. They have responded to the situation by closing borders, ordering quarantines, and imposing several restrictions to keep people safe, especially in early 2020. The market participants and end-users lost their businesses due to the temporary shuttering of companies in the region. Moreover, the outbreak has also disrupted the supply chains of various industries due to the congestion of ports and disturbances in other transport means, which substantially impacted the distribution of ECG devices and other associated devices in South and Central America. In addition, there was a reduction in medical visits due to delayed postponed appointments. All these factors considerably deterred the growth of the South and Central America ECG devices market.

Key Market Segments

The South and Central America 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 South and Central America 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 South and Central America mobile ECG devices market are the Centers for Disease Control and Prevention (CDC), Instituto Brasileiro de Geografia e Estatística (IBGE), and World Health Organization (WHO).

Reasons to buy the report

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SOUTH AND CENTRAL AMERICA 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

• Brazil
• Argentina
• Rest of South and Central America

Company Profiles

• Koninklijke Philips N.V.
• Medtronic
• AliveCor, Inc
• Nihon Kohden Corporation