Industry Background:
Personal ECG or EKG devices are used for self-monitoring of heart function at home or on the move. These devices well suited for people with increased health risks caused by high blood pressure, increased cholesterol, hereditary medical risks, and stress. It can also detect significant rhythm abnormalities. There are no patches, wires, or gels required and it records heart data connected via smartphone. According to United States Centers for Disease Control and Prevention, an estimated 3-6 million Americans have atrial fibrillation, or AFib, the most common type of heart arrhythmia.
According to AMA Research, the market for Personal ECG Device is expected to register a CAGR of 4.9% during the forecast period to 2027. This growth is primarily driven by Rise in the Number of Patients with Cardiovascular Diseases in North America
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cardiocomm Solutions Inc. (The HeartCheck) (Canada), AliveCor, Inc. (United States), OMRON Corporation (Japan), PocketECG (Poland), Beurer GmbH (Germany), Zenicor Medical Systems AB (Sweden), Schiller AG (Switzerland), Lohman Technologies (AfibAlert) (United States), Cardiac Designs Inc. (United States) and iRhythm Technologies, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On April 23, 2020, AliveCor, and OMRON, a global leader in personal heart health and wellness technology, formed a strategic alliance that combines AliveCor’s ECG technology with industry-leading blood pressure devices from OMRON to serve customers and expand access to remote patient care.
On November 24, 2020, The United States Food and Drug Administration has cleared AliveCor's next generation of interpretive artificial intelligence-based personal electrocardiogram algorithms, Kardia AI V2, the most sophisticated AI to personal ECG. and On Sept 25, 2020, AliveCor, enters the Indian market with the launch of its clinically validated personal ECG device, KardiaMobile 6L.
Regulatory Insights:
Personal ECG Devices are regulated and approved by the Food and Drug Administration (FDA), 510(k).
Personal ECG Device Market Dynamics:
Attributes | Details |
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Growth Drivers | - Rise in the Number of Patients with Cardiovascular Diseases in North America
- Growing Demand for Portable e-Health Devices
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Influencing Trends | - Compatibility of Devices with Android and iOS Smartphones and Tablets
- Mobile Cardiac Telemetry Monitoring
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Restraints | - Availability of in-Hospital Conventional ECG Machines
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Road Blocks / Challenges | - Lack of Awareness About the Personal ECG Devices
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Gaps & Opportunities | - Technological Advancements such as Artificial Intelligence, Cloud-based System, and Bluetooth in Medical Care
- Innovations in Sensor Technologies to Record Electric Impulses, Wearable Technologies
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Personal ECG Device Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Personal ECG Device Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Personal ECG Device players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Personal ECG Device Study Sheds Light on
The Personal ECG Device Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Personal ECG Device industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Personal ECG Device industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.