According to the latest publication by Credence Research, Inc. “Global ECG Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the ECG equipment market was valued at USD 4055 Mn in 2015, and is expected to reach USD 6120 Mn by 2022, expanding at a CAGR of 6.1% from 2015 to 2022.
The purpose of the report is to illustrate the state of the market of Sterile Injectables, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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Innovative advancement in communication technologies and low power circuit plan have empowered the development of better and more secure ECG equipment, which are convenient, work with lower force utilization, more exact, and have the ability to incorporate the latest diagnostic features. Innovative developments such as, cloud storage, wireless communications and advanced data analytics tools are creating huge opportunities in the ECG equipment market. ECG with its advanced features to incorporate ECG record to the patient’s electronic medicinal record (EMR) enables hospital’s workflow to be effectively streamlined. EMR helps in remotely securing the ECG information which can be used further for analysis. Rising incidence of cardiovascular disease has required continuous checking of heart patients, which substantially enhances the demand for cardiac monitoring equipment and associated supplies.
The global ECG market is expected to reach $ 6120 million by 2015 at a CAGR of 6.1%. The North American segment accounts for nearly 44% percent of the global market value in 2015 followed by APAC. Also Asia-Pacific is the fastest growing region with a CAGR of 6.6% during 2015-2022. With the development of better and safer, portable, power efficient ECG devices that are more accurate, the market will be witnessing growth in resting ECG and Holter monitor systems.
The foremost purpose of ECG is to assess heart’s electrical activities. The key expectation of customers from ideal ECG equipment is to produce accurate results within its operating range in a consistent and reliable way. Generally ECG monitors use analogous mechanisms for scanning data and differ in material used and manufacturing pattern. The foremost example is high-equity ECG systems (6and 12 Channel ECGs) which are multi processors and can provide more accurate results, and due to this has gain a respectable market share in the ECG market.
Price plays a significant role a while planning strategies for capturing market share, as customers prefer high quality products at low price. Particularly for Indian market, most of the companies are manufacturing low cost equipment which reflects that the market is highly competitive in nature. In 2009, around 34,000 units of ECG equipment were sold in the Indian Market, having a total value of Rs. 103 crore. This is an increase from 33,000 units sold in 2008. For example, In 2015 Philips launched Effica ECG100, claimed to be a cost effective cardiograph and improving patient care outcomes at reduced costs.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Sterile Injectables buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of ECG Equipment contains:
Analysis and forecast of Sterile Injectables market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Sterile Injectables market;
Assessment and forecast of Sterile Injectables market development;
Financial and business profiles of the leading companies in the Sterile Injectables industry.
– Up to date working Sterile Injectables data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Sterile Injectables for the period 2018 to 2026
– Planned Sterile Injectables additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Sterile Injectables projects by region, key countries, and companies
– Details of major planned Sterile Injectables projects in the world up to 2026
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