Mobile ECG Devices Market Research Report and Outlook by 2028

The mobile ECG devices sector is anticipated to achieve a market value of US$ 2,457.66 million by 2028, up from US$ 1,770.35 million in 2021, reflecting a compound annual growth rate (CAGR) of 5.0% from 2022 to 2028.

Key drivers of this market expansion include the growing elderly population and the increasing prevalence of cardiovascular diseases (CVDs) and heart-related ailments. Nevertheless, the market faces challenges due to stringent regulatory frameworks and various technical difficulties. The mobile ECG devices market in the Asia-Pacific (APAC) region is experiencing rapid growth.

Increase in Cardiovascular Diseases and Heart-Related Issues

Cardiovascular diseases remain the leading cause of death and disability globally. These conditions impact the heart and blood vessels, encompassing issues such as coronary heart disease, arrhythmias, and more. Poor dietary habits are significant contributors to the rise of cardiovascular diseases. The escalating incidence of these diseases, coupled with the necessity for continuous ECG monitoring to ensure precise patient assessments, enhances treatment efficacy.

The rising occurrence of arrhythmias and other cardiovascular conditions has spurred demand for advanced diagnostic tools. ECG systems are crucial for identifying arrhythmias, coronary artery disease, atrial fibrillation, prior heart attacks, and other related issues. The World Health Organization (WHO) reports that CVDs account for approximately 17.9 million deaths annually, with 30 million individuals suffering strokes each year. The American Heart Association noted that around 19.1 million deaths were attributed to CVDs globally in 2020, with 244.1 million individuals living with ischemic heart disease that same year.

According to estimates from the Centers for Disease Control and Prevention (CDC), CVDs were responsible for about 697,000 deaths in the United States in 2020, equating to roughly 1 in every 5 deaths. Coronary artery disease, a prevalent heart condition, claimed 382,820 lives in the US in 2020, with approximately 20.1 million adults (around 7.2%) diagnosed with CAD. Projections indicate that by 2035, over 130 million people, or 45.1% of the US population, will have some form of cardiovascular disease. Additionally, the European Society of Cardiology has highlighted that atrial fibrillation significantly increases stroke risk, with estimates suggesting that 12.1 million Americans will have this condition by 2030. The CDC identifies high cholesterol and smoking as major risk factors for heart disease, affecting nearly 47% of the US population.

Moreover, initiatives like the door-to-balloon (D2B) time program and "Mission: Lifeline" by the American College of Cardiology and AHA have increased hospital demand for Bluetooth-enabled, 12-lead ECG monitors and wireless solutions. The rising incidence of cardiovascular issues and the need to minimize patient hospital stays, which often require extensive care, have led to a heightened demand for mobile ECG devices. These devices are more affordable, disposable, and user-friendly compared to traditional ECG equipment, thus propelling market growth in response to the increasing prevalence of heart-related conditions.

The mobile ECG devices market is categorized by modality into handheld, pen, band, and other types. The handheld segment dominated the market in 2021, while the band segment is projected to exhibit the highest CAGR from 2022 to 2028. In terms of device type, the market is divided into monitoring ECG systems and diagnostic ECG systems, with the monitoring segment leading in 2021 and expected to maintain its dominance throughout the forecast period. The end-user segmentation includes personal users, hospitals and clinics, and ambulatory services, with personal users holding the largest market share in 2021 and anticipated to achieve the highest CAGR of 5.3% during the forecast period.

The mobile ECG devices market, categorized by type, shows that monitoring ECG systems held a significant market share in 2021 and is expected to grow at a CAGR of 5.4% from 2022 to 2028.

Geographically, North America held the largest market share from 2022 to 2028, driven by the rising incidence of heart diseases, including CVDs and strokes, along with a robust healthcare infrastructure and government support. The increasing prevalence of heart disease has indirectly fueled market growth. The CDC states that heart disease is the leading cause of death across various demographics in the US, with one person dying from cardiovascular disease every 36 seconds, and heart disease accounting for 1 in every 4 deaths, totaling approximately 655,000 deaths annually. In response to the growing heart disease risk, numerous initiatives are underway, including those by the CDC's Division for Heart Disease and Stroke Prevention (DHDSP), which supports efforts to manage and mitigate heart disease and stroke risk factors across all states and the District of Columbia.

The report on the mobile ECG devices market references several primary and secondary sources, including the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), national government documents, statistical databases, market reports, news articles, press releases, and webcasts related to companies in the sector.