Report : Asia Pacific Mobile ECG Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Monitoring ECG Systems and Diagnostic ECG Systems), Modality (Handheld, Pen, Band, and Others), and End User (Personal Users, Hospitals and Clinics, and Ambulatory Services)
The personal users segment by end user is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Mobile ECG Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type, Modality, End User and Country.” The Asia Pacific mobile ECG devices market is expected to reach US$ 495.57 million by 2028 from US$ 344.73 million in 2021; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific mobile ECG devices market and the factors driving market along with those that act as hindrances.
Major players in the mobile ECG devices market focus on expanding their product reach in emerging markets through the diversification of their distribution networks and the enhancement of manufacturing capabilities. Emerging markets in India and China hold significant growth potential for medical device manufacturers due to the presence of large patient pool, high prevalence of cardiac diseases, and improvements in healthcare infrastructure in these countries. Asia Pacific is one of the business-friendly hubs due to the existence of relatively less stringent regulations and data requirements. Moreover, as the US and European markets have reached maturity, most players are shifting their focus to developing regions. The increasing incidences of heart-related problems in developed countries due to a transition in people’s lifestyle and rise in CVD-related health conditions due to the introduction of modernized facilities trigger the demand for mobile ECG products for diagnostics and monitoring. Developing countries are also focused on bringing advancements in their healthcare infrastructure and services. For instance, the growing application of smartphone technology—due to decreasing costs and increased ease-of-use along with advancements in sensing technologies—is facilitating a shift from traditional clinic-based healthcare to real-time monitoring. This improves the quality of care and helps in the timely detection of problems. According to a report “Mobile Self-Monitoring ECG Devices to Diagnose Arrhythmia” published in 2019, using mobile ECG devices to detect and diagnose arrhythmia and atrial ?brillation can reduce the risk of mortality, morbidity, and associated health implications such as stroke. Evans et al. also reported potential opportunities for mobile ECG devices in low- and middle-income countries and developing regions. The increasing use of wearable devices, rise in aging populations, and need to provide cost-e?ective primary care are the factors boosting the adoption of mobile ECG monitoring devices in Asia-Pacific.
The COVID-19 outbreak has affected the performances of manufacturers of medical equipment and accessories due to the shortage of healthcare infrastructure in low-income Asia-Pacific countries. According to the WHO, due to the uncertainties associated with COVID-19 and alterations in outbreak trends, any additional health disorders are likely to interfere with international travel and trade significantly. Countries such as Japan and Australia are conducting virtual international conferences to anticipate the impact of COVID-19 on the medical device industry in the region. The pandemic has created a seismic shift in living habits in the region. It has also led to disruptions in supply chains, losses in revenue, disturbances in marketing and sales activities, thereby hampering the performance of the ECG devices market. Further, production units and other public places also faced health concerns. On the other hand, unlike North America and Europe, Asian countries did not impose second lockdown. Hence, the businesses in the countries are slowly recovering by including the usage of portable home diagnostic devices, including electrocardiogram (ECG) devices by family physicians and patients for early and accurate diagnosis and adjusting of urban areas to a changing market.
The Asia Pacific mobile ECG devices market, based on type, has been segmented into monitoring ECG systems and diagnostic ECG systems. The Asia Pacific mobile ECG devices market, based on application, is segmented into handheld, band, pen, and others. The Asia Pacific mobile ECG devices market, based on end user, is segmented into personal users, hospitals and clinics, and ambulatory services. Geographically, the Asia Pacific mobile ECG devices market is sub-segmented into India, Australia, Japan, China, South Korea, Australia and Rest of APAC.
THOR, Koninklijke Philips N.V., Bittium Biosignals LTD. (Subsidiary of Bittium Corporation), Medtronic, AliveCor, Inc, Nihon Kohden Corporation, EB Neuro S.P.A and Cardiocity Limited are among the leading companies operating in the Asia Pacific mobile ECG devices market.
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