ECG Devices Industry - Regional Synopsis
North America Market Analysis
The North America ECG devices market is poised to capture the largest share of 38.4% throughout the assessed timeline. The region presents a lucrative business environment for both domestic and global leaders in this sector, backed by the heavy capital influx, favorable regulatory framework, and advanced healthcare infrastructure. In this regard, the CDC revealed that the count of CVD patients living across North America surpassed 48.1 million in 2024, where the U.S. alone accounted for 18.3 million coronary artery disease incidences in 2023. Thus, more than 90.3% of the hospitals in this region adopted advanced ECG technologies during the same duration, reflecting the urge to necessitate sustained cardiac diagnostic practice.
According to the CMS, U.S. Medicare coverage expanded by 25.4% year-over-year (YoY) for remote patient monitoring (RPM) and AI-powered ECG systems in 2024. Additionally, in 2023, the FDA gave marketing clearance for a total of 5 new AI algorithms, associated with cardiac care. On the other hand, Medicaid coverage for ambulatory ECG rose by 8.3% in 2024, than in 2020. Simultaneously, the nationwide Medicare expenditure on these systems crossed USD 2.2 billion in 2023, as per the calculations from CMS. This displays the country’s steady leadership over the regional market. Currently, the country is focusing on reducing reliance on its foreign suppliers for crucial components, such as electrodes, sensors, and semiconductors, to strengthen local production.
APAC Market Statistics
Asia Pacific is expected to exhibit the highest CAGR in the ECG devices market by 2037 due to its leveraging medical instrument manufacturing capabilities. Besides, the enlarging patient pool, government initiatives, and technological innovations are also accelerating the pace of the region’s propagation in this sector. In this regard, the National Health Commission recorded 330.4 million CVD patients in China in 2023. On the other hand, WHO marked the contribution of India to the global heart disease burden at 60.1% in 2024. Further, to combat this widespread and reduce mortality, the Government of China released an initiative to upgrade the nationwide cardiac care infrastructure, Healthy China 2030, with an allocation of up to USD 30.2 billion. Similarly, in 2023, the use of remote ECG monitoring increased by 300.1% in South Korea.
Following the current trend of infrastructural development and fast deployment of primary medical assets, India is emerging as a lucrative and reliable consumer base for the market. The country is augmenting its progress majorly with financial and promotional efforts from the governing entities. For instance, from 2020 to 2023, more than 500,010 ECG units were equipped in the primary health centers of India, as per the roadmap drafted by the Ayushman Bharat program. Similarly, the National Cardiac Disease Program completed the screening of over 50.3 million patients in 2024, from 2017, under government supervision. Furthermore, the subsidiary policies, availing of production-linked incentives, inspire local ECG systems and component producers to invest more in this field, bringing affordability.
