ECG Telemetry Devices Market Size, Trends and Growth Analysis by 2027

The ECG telemetry devices market is projected to grow significantly, reaching an estimated US$ 3,783.48 million by 2028, up from US$ 2,087.66 million in 2020. This growth represents a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028.

Several key factors are propelling this market expansion, notably the rising incidence of cardiovascular diseases (CVDs) and the increasing elderly population. However, the high costs associated with ECG telemetry devices and their inherent limitations pose challenges to market growth.

Over the past decade, there has been a remarkable evolution in mobile health (mHealth), providing both healthcare professionals and patients with innovative methods to manage various conditions, including atrial and ventricular arrhythmias, as well as atrial fibrillation. The escalating prevalence of arrhythmias and other cardiovascular conditions is driving the demand for enhanced diagnostic tools. ECG telemetry systems are recognized as the most effective devices for identifying arrhythmias, facilitating quicker and more straightforward heart monitoring, which has contributed to their growing acceptance.

According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of mortality globally, with approximately 30 million individuals suffering strokes annually. The American Heart Association reports that nearly half of all adults in the United States are affected by some form of cardiovascular disease. By 2035, it is estimated that over 130 million people, or 45.1% of the US population, will have a type of CVD. Additionally, the European Society of Cardiology has indicated that atrial fibrillation is the most prevalent arrhythmia, accounting for 0.28-2.6% of healthcare expenditures in European nations. Patients with atrial fibrillation face a fivefold increased risk of stroke, with this condition responsible for 20-30% of all stroke cases in Europe. A study by the European Society of Cardiology in 2016 revealed that approximately 7.6 million individuals aged 65 and older in the EU had atrial fibrillation, a figure projected to rise by 89% to around 14.4 million by 2060. The prevalence of atrial fibrillation is expected to increase from 7.8% in 2016 to 9.5% by 2060. Furthermore, a report titled "Beyond the Burden: The Impact of Atrial Fibrillation in Asia Pacific" by Biosense Webster in 2019 indicated that over 16 million individuals in the Asia Pacific region are affected by atrial fibrillation, with projections suggesting this number could reach approximately 72 million by 2050, particularly impacting middle-aged and older populations.

Key risk factors for cardiovascular diseases include family history, ethnicity, and age, along with lifestyle factors such as tobacco use, hypertension, obesity, high cholesterol, physical inactivity, diabetes, poor diet, and alcohol consumption. Additionally, lifestyle changes have led to an increase in conditions like diabetes, hypertension, dyslipidemia, and obesity, further contributing to the rise in CVD cases globally. Many types of cardiovascular diseases can be prevented through early monitoring and diagnosis. Similarly, numerous heart function abnormalities, including arrhythmias, can be detected early, which is crucial for preventing severe outcomes. This growing awareness is driving the demand for ECG telemetry devices, which play a vital role in safeguarding patients at high risk of cardiac events.

The ECG telemetry devices market is categorized by product type into resting ECG devices, stress ECG devices, and others. In 2020, the resting ECG devices segment held the largest market share and is expected to exhibit the highest CAGR of 8.1% during the forecast period. The growth of this segment is primarily attributed to the rising incidence of cardiovascular diseases. To maintain their competitive edge, many companies are employing both organic and inorganic growth strategies. For example, in August 2017, HeartSciences, a US-based company, announced that its MyoVista high-sensitivity electrocardiograph testing device received CE Mark approval and was launched in Europe. The MyoVista hsECG utilizes a 12-lead, at-rest testing protocol similar to conventional ECG devices, integrating informatics with traditional 12-lead resting ECG tracings and interpretive analysis.

In preparing the report on the ECG telemetry devices market, various primary and secondary sources were consulted, including the World Health Organization (WHO), National Health Service, Centers for Disease Control and Prevention (CDC), Organization for Economic Co-operation and Development (OECD), American Division for Heart Disease and Stroke Prevention, The China National Committee on Aging, and various company websites.