Asia Pacific 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.

Asia Pacific Mobile ECG Devices Strategic Insights

Strategic insights for the Asia Pacific 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.

Asia Pacific Mobile ECG Devices Report Scope

Asia Pacific Mobile ECG Devices Regional Insights

The geographic scope of the Asia Pacific 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 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 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 Asia Pacific.

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.

Key Market Segments

The Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific mobile ECG devices market are the China National Committee on Aging (CNCA), World Health Organization (WHO), and National Statistical Office (NSO).

Reasons to buy the report

• Determine prospective investment areas based on a detailed trend analysis of Asia Pacific mobile ECG devices market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different addictions therapeutics segments in the top spending countries and identify the opportunities offered by each of them.
• 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 Asia Pacific 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 Asia Pacific mobile ECG devices market.

ASIA PACIFIC 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

•   MD Biomedical Inc.

•   THOR

•   Koninklijke Philips N.V.

•   Bittium Biosignals LTD. (Subsidiary of Bittium Corporation)

•   Medtronic

•   AliveCor, Inc

•   Nihon Kohden Corporation

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