Global wearable electrocardiography (ECG) devices market is estimated to grow with a CAGR of 25.5% from 2022 to 2027. The market will reach $58,071.9 million by 2027 from $14,837.2 million in 2021. Electrocardiogram (ECG) is a test to diagnose irregular heart’s rhythm and electrical activity. The ECG devices have sensors attached to the skin, which detect and record electrical signals produced by heart beatings. There are two type of ECG devices, i.e., clinical ECG devices and wearable ECG devices for personal use. Clinical ECG devices have quite a set-up, they have electrodes which require tapping (by healthcare professional) across different body parts. On the other hand, wearable ECG devices are simple and are based on sensor. The sensors work like electrodes; they can monitor heart’s electrical signals when placed on a figure or two or on the wrist. However, clinical ECG devices are more sensitive than wearable ECG devices. Clinical ECG devices 12 leads/or body contact points for monitoring heart electrical signals Vs 2 leads with wearable ECG devices.
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In recent years, the demand for healthcare consumer electronics like wearable ECG devices have increased substantially. During the COVID pandemic, people became conscious about the heart health. Doctors advised heart patients to monitor SPO2 alongside heart rates. Wearable devices based tele-ECG monitoring is also helpful in reducing COVID spread Vs traditional ECG monitoring systems. Another important factor driving the market growth is the need to regularly monitor heart signals in AFiB patients. The prevalence of AFiB has been increasing, so do the wearable ECG devices market. As per a study published by the American Heart Association, AFiB has increased 3 folds over the last 50 years. The global burden of the disease was estimated to be 46.3 million in 2016. However, inaccuracies in precision reporting is a major restraint for the market growth.
- Smart band
- Pocket ECG monitor
- ECG Patch
- Apple (series 4,5,6)
- Samsung (galaxy watch 3, active 2)
- Fitbit (sense)
- Alivecor (kardialMobile6) and Others
By End User
- Individual User
- Hospitals & Clinics
- Rest of World
- By product, smart watch was the largest segment holding ~99% of the market share. Moreover, it is estimated that ~25 thousand ECG patches will be sold till 2027
- By brand, Apple holds the largest revenue share. Alivecor (kardialMobile6) and others segment is estimated to be the fastest growing segment
- By frequency, continuous segment is leading. China is estimated to sell 10,000 episodic units till 2024
- By end user, Japanese Hospitals & Clinics segment is estimated to reach $1.1 million by 2027
- By region, US is leading with a share of 35%. China is estimated to be growing with a CAGR of 26.6%
Apple, Samsung, Fitbit, Alivecor, Qardio, Inc, VivaLNK are some of the major market players. The cumulative share of the top three players is estimated to be about 99%.
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