Single Lead ECG Equipment Market-Global Industry Analysis and Forecast 2023-2029

Single Lead ECG Equipment Market was valued at $327.59 Mn in 2022 and is expected to reach $411.18 Mn by 2029, at a CAGR of 3.3% during the forecast period.
Single Lead ECG Equipment Market Introduction:
Cardiovascular diseases (CVDs) have been a major cause of health loss with high mortality worldwide for a decade. Among CVDs, heart diseases were the leading cause of death. ECG is the most common and basic diagnostic method for many kinds of cardiac abnormal screening since it is non-invasive, low-cost, and easy to be applied to patients.
Single Lead ECG Equipment Market Snapshot
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Single Lead ECG Equipment Market Dynamics:
Different wireless, single-lead real-time electrocardiogram (ECG) devices are commercially available for efficient screening, monitoring, and on-demand diagnosis. Some devices have demonstrated acceptable detection efficiencies for intervals and rhythms. ECG Check is an FDA-approved mobile heart monitor manufactured by Cardiac Designs. This method allows easy acquisition, and the recording can be forwarded to a professional interpreter of choice. The field is rapidly expanding, and some devices have demonstrated acceptable qualities.

With the development of mobile health and mobile computing, wearable technologies are changing the field of everyday ECG monitoring. Considering the portable, comfortable, and non-interference requirements, most wearable ECG monitoring devices are designed with a single lead, rather than the standard 12-lead ECG system. Single-lead ECG has been proven to contain substantial biometric information and has been used widely in biomedical diagnoses, e.g., human verification. Also, the rising prevalence of cardiac diseases, unhealthy lifestyles, and the advent of new technologies are propelling the market growth. The trend of personalized health monitoring and the emergence of smartphones and smartwatches-based ECG monitoring are key factors boosting the market.

Like many facets of healthcare, artificial intelligence is being developed to aid ECG interpretation. Artificial intelligence (AI) can examine ECG waveforms to pinpoint patients at higher risk of developing a potentially dangerous arrhythmia or of dying within the next year. In November 2022, the FDA cleared AliveCor's next generation of interpretive AI-based personal electrocardiogram (ECG) algorithms for its Kardia device to detect atrial fibrillation and a wide range of cardiac conditions.

The MyoVista Wavelet ECG (wavECG) system uses continuous wavelet transform (CWT) signal processing to provide new frequency and energy information. MyoVista wavECG uses AI-based algorithms to analyze the data from the transformed ECG signal using continuous wavelet signal processing. MyoVista is designed to be a low-cost electrocardiographic testing system to provide physicians with new information to improve patient risk-assessment related to heart disease. The company announced the submission of this technology seeking market clearance from the U.S. FDA in January 2022.
Single Lead ECG Equipment Market Segment Analysis:
By Indication, the Syncope segment is expected to boost the market growth
Syncope is an abrupt and transient loss of consciousness caused by cerebral hypoperfusion. It accounts for 1% to 1.5% of emergency department visits, resulting in high hospital admission rates and significant medical costs. Syncope accounts for 1% to 1.5% of all emergency department visits, 250,000 annual hospital admissions, and a median hospital cost of $8,500. Approximately 40% of the U.S. population will experience a syncopal episode in their lifetimes, and 30% to 50% will be admitted to the hospital for further evaluation.

The use of ECG monitoring and other diagnostic tools is often subject to a "shot-gun approach" rather than a strict guideline algorithm. A systematic approach and selection of ECG monitoring tools help permit an effective usage of the limited health care resources available for the management of unexplained syncope.
Arrhythmia segment to witness growth during the forecast period
The Arrhythmia segment is further subdivided into- Atrial Fibrillation (AF), Tachycardia and Bradycardia. Atrial fibrillation is the most frequent cardiac arrhythmia. It has been estimated that 6-12 million people worldwide will suffer from this condition in the US by 2050 and 17.9 million people in Europe by 2060. Characterized by disorganized atrial electrical activity and contraction. The incidence and prevalence of AF are increasing.

Lifetime risk over the age of 40 years is ~25%. Complications of AF include hemodynamic instability, cardiomyopathy, cardiac failure, and embolic events such as stroke. The rising incidences of AF are expected to drive the segment, thereby boosting the market growth. The FDA cleared AliveCor's next generation of interpretive AI-based personal electrocardiogram (ECG) algorithms for its Kardia device to detect atrial fibrillation and a wide range of cardiac conditions.
Single Lead ECG Equipment Market Regional Insights:


North America accounted for the largest market share of xx % in 2022 and is expected to grow a CAGR of xx % in the forecast period. Growth in insurance coverage, presence of centers and institutes engaged in R&D and government funding are surging the North American market. Well-established healthcare infrastructure, ease of availability, and increasing immunization programs are also key drivers affecting the market growth. Investments by key players in this field have boosted the market growth. Europe is also expected to drive the market and the factors responsible for growth are the growing acceptance of emerging advanced technologies, rising incidence of cardiovascular diseases.

The Asia Pacific is also expected to witness significant growth during the forecast period due to rising health care expenditures. The allocation of a large amount of healthcare expenditure for hospitals and dispensing medicines to the elderly is expected to drive the market demand. Awareness programs by governments are also driving the market in the region.
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Global Single Lead ECG Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 327.59 Mn.


Forecast Period 2023 to 2029 CAGR:
3.3%
Market Size in 2029:
US $ 411.18 Mn.


 Segments Covered:
by Indication
Syncope
Arrhythmia
Other Indications


by End User
Hospitals & Clinics
Home-care
Ambulatory Surgical



Single Lead ECG Equipment Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Single Lead ECG Equipment Market, Key Players are
1. Dimetek Digital Medical Technologies, Ltd
Dimetek Digital Medical Technologies, Ltd
2. AliveCor, Inc.
3. Tianjin Chase Sun Pharmaceutical Group (Beijing Choice Electronic Tech Co., Ltd)
4. Perlong Medical Equipment Co.; Limited
5. Ambisea Technology Corp.; Ltd
6. SUZU.K.EN CO.; Limited Inc.
7. Eurocamina
8. Longfian Scitech Co. Limited
9. DailyCare BioMedical, Inc.
10. OMRON Corporation
11. Zenicor Medical Systems
12. Medtronic Plc.
13. LifeWatch AG
14. OMRON Healthcare
15. Lohman Technologies (Cardiac Advancement)
16. iRhythm Technologies Ltd.
17. Reka Health Pte Ltd.
Frequently Asked questions
1. What is the market size of the Global Single Lead ECG Equipment Market in 2022?
Ans. The market size Global Single Lead ECG Equipment Market in 2022 was US$ 327.59 Million.

2. What are the different segments of the Global Single Lead ECG Equipment Market?
Ans. The Global Single Lead ECG Equipment Market  is divided into Indication and End User.

3. What is the study period of this market?
Ans. The Global Single Lead ECG Equipment Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Single Lead ECG Equipment Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Single Lead ECG Equipment Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.