Artificial Intelligence
Electrocardiograph (ECG) Market Size to Surpass USD 21.7 Bn by 2030
London, Aug. 01, 2022 (GLOBE NEWSWIRE) — The global electrocardiograph market size was accounted at USD 10.12 billion in 2022. The electrocardiograph is a machine which helps to record the electrical activities of the heart which are recorded in the form of signals on a graph that can be calculated and studied by the medical staff in order to make a relevant diagnosis which helps to take the necessary actions and decide the line of treatment required. With the rapidly increasing prevalence of cardiac disorders among the people the requirement for advanced electrocardiograph machines has increased tremendously.
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The rapid research and development which are carried out by the key market players in order to provide the best possible services and facilities to the people have proved to be the driving force for the market to record a considerable growth during the forecast period.
Report highlights
- On the basis of product, the resting electrocardiograph has seen to be dominating the segment as a result of it being commonly used in the healthcare system. The demand for an electrocardiograph report before the surgical procedure has boosted the market for this segment.
- On the basis of end user, hospital and clinics have shown the fastest growth as a result of the easy availability of electrocardiograph services in these sectors. The rapid demand for electrocardiographs in these health care centers have proved to be a driving force.
- On the basis of lead type, the six lead ECG has proved to be the fastest growing market while on the other hand, the 12 lead ECG is preferred as a result of the advanced reports provided by them.
- On the basis of geography, the North American market has shown a tremendous growth as a result of the huge number of people suffering with cardiovascular disorders who require electrocardiograph services.
Key Takeaways:
- North America region contributed 44% revenue share in 2021.
- Asia-Pacific is anticipated to reach at a CAGR of 10.5% between 2022 to 2030.
- The home settings & ambulatory surgical centers (ASCs) segment is expected to hit at a CAGR of 10.2% between 2022 to 2030.
- The holter monitors segment is predicted to grow at a CAGR of 11.7% between 2021 to 2030.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 9.2 Billion |
| Revenue Forecast by 2030 | USD 21.7 Billion |
| CAGR | 10% from 2022 to 2030 |
| Largest Market Share | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Key Players | General Electric Company (US), Koninklijke Philips N.V. (Netherlands), NIHON KOHDEN CORPORATION. (Japan), Hill-Rom Services, Inc. (US), Ambu A/S. (Denmark), SCHILLER (India), ACSDiagnostics. (US), BPL, FUKUDA DENSHI (Japan), BioTelemetry, Inc. (US), and Others. |
Regional snapshots
The region of North America has proved to be the largest market for the electrocardiograph devices as a result of the rapid prevalence of cardiac disorders among the people residing in this region. As a result of the modern lifestyle practices followed by the people, a rapid increase in the sedentary lifestyle has been observed along with faulty food habits which has proved to be a major factor for the increasing prevalence of cardiac disorders among the people along with other complications such as diabetes and cholesterol. The life expectancy of the people has increased to a great extent as a result of the modern healthcare facilities provided by the government which has boosted the size of the geriatric population. This has increased the demand for electrocardiograph services in the health care sectors.
The Asia Pacific region is considered to show a tremendous result due to the rapid prevalence of cardiovascular disorders in the people. With the increasing modernization and development, the number of people suffering with cardiac disorders has also increased tremendously which gives rise to high demand for electrocardiograph services.
Market dynamics
Drivers
The rapid increase in the number of people suffering with cardiovascular diseases and lifestyle disorders has proved to be a major driving force for the market. The increasing prevalence of ischemic heart disease, peripheral artery disease, hypertensive heart disease and stroke are majorly contributing to the rapid rate of mortality worldwide. The faulty lifestyle practices and impaired food habits which are followed by the people increases the prevalence of cholesterol and diabetes which proved to be the major causative factors for cardiac disorders. The rapid research and development which is carried out by the key market players in order to provide the best possible electrocardiograph machines has proved to be a major driving force for the market. These multiple regions have proved to be the driving force for the growth of the market during the forecast period.
Restraints
The lack of knowledge and understanding regarding the importance of ECG has proved to be a major challenge in front of the growth phase of the market. The shortage of disposable income in the hands of the people as a result of the rising inflation proves to be a major restraining factor for the growth of the market during the forecast period. The negligence of the people regarding the cardiovascular complaints has also hampered the growth of the market to a great extent. The lack of skilled labor force and medical staff who are able to operate and diagnose an electrocardiograph hampers the growth of the market tremendously.
Opportunities
The lucrative offers which are provided by the insurance companies and the active support provided by the government in order to provide the best possible services to the people through the healthcare sector has proved to be a great opportunity for the growth of the market during the coming years. the rapidly increasing reimbursement facilities provided to the people also supports the growth of the market considerably. The use of artificial intelligence in order to diagnose the cardiac condition has proved to be a great opportunity for the growth of the market during the forecast period. The multiple facilities which are available in the hospitals has propelled the size of the market to a significant height. These multiple reasons proved to be the opportunities for the growth of the market during the forecast period.
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Challenges
The high cost associated with the use of advanced technologies and machines to record an electrocardiograph rose to be a major challenge for the growth of the market during the forecast period. The lack of awareness regarding the available facilities provided by the hospitals and clinics hampers the growth of the market to a great extent. The negligence of the people towards the requirement of an electrocardiograph report in order to diagnose a cardiac condition proves to be a challenge for the growth of the market during the forecast period. These multiple reasons proved to be the challenges in front of the market.
Recent developments
- In January 2021 – Biotelemetry which is a leading provider of cardiac monitoring and diagnosis system is taken over by Koninklijke Philips N.V Philips. This deal took place in order to expand the market regarding the management of patient care solutions.
Market Segmentation
By Product
- Holter Monitors
- Resting Electrocardiograph (ECG)
- Stress Electrocardiograph (ECG)
- Event Recorders
- Others
By Technology
- Portable ECG Systems
- Wireless ECG Systems
By End User
- Hospitals & Clinics
- Home Settings & Ambulatory Surgical Centers (ASCs)
- Others
By Lad Type
- Single Lead ECG
- 3 Lead ECG
- 2 Lead ECG
- 6 Lead ECG
- 12-Lead ECG
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.”
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — The growing need for automation, technological developments, and long-term cost reductions are driving a robust expansion in the worldwide robotics market. SkyQuest projects that Global Robotics Market size is poised to grow from USD 41.50 Billion in 2023 to USD 126.96 Billion by 2031, at a CAGR of 15% during the forecast period (2024-2031).
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Browse in-depth TOC on the “Robotics Market”
Pages – 202Tables – 64Figures – 75Robotics Market Overview:
Report Coverage
Details
Market Revenue in 2023
$41.50 billion
Estimated Value by 2031
$126.96 billion
Growth Rate
Poised to grow at a CAGR of 15%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Application, End Users, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Collaborative Robotics
Key Market Opportunities
Prompting Several Industries to Adopt Automation Technologies
Key Market Drivers
Increasing Demand for Automation
Surge of Automation is Supporting Growth of Robotics Industry
The industrial sector is generating high revenues for the global robotics market owing to extensive automation in manufacturing, which increases productivity and lowers overall production costs. Assembly line, painting, and welding robots have become essential, thereby propelling substantial market expansion in the automotive, electronics, and heavy duty sectors. Due to the increased usage of robots for non-manufacturing functions such as customer service, shipping, and healthcare, the services sector is expanding quickly. This rapid growth is being driven by technological improvements and the push for automation in services.
Surge in Advance Robotics is Bolstering Market Growth
The use of robotics in manufacturing processes is growing, and innovation in this field is happening quickly worldwide. By increasing productivity, efficiency, and precision, advanced robotics technologies—such as AI-driven automation systems and collaborative robots, or cobots—are transforming the manufacturing sector. The dominance of manufacturing in the worldwide robotics market is fuelled by the integration of robotics into manufacturing facilities, which helps businesses remain competitive in today’s dynamic market scenario.
Rising Interest in Service Robotics is Driving Demand for Robotics in Asia Pacific
Due to the strong demand for industrial and service robots in the region, Asia Pacific now leads the global robotics industry. China, Japan, and South Korea are among the nations that have made significant investments in the robotics sector recently. The Middle East and Africa are anticipated to register the fastest-growing rate for the global robotics market. The expansion is ascribed to the region’s growing adoption of automation technology, especially in the manufacturing and logistics industries.
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Drivers:
Increasing Demand for AutomationAdvancements in AI and Machine Learning TechnologiesRestraints:
High Initial InvestmentsLack of Skilled WorkforceProminent Players in Global Robotics Market:
FANUC America Corporation (US)Epson Robotics (Japan)Staubli International AG (Switzerland)YRG Inc. (US)Comau S.p.A. (Italy)Northrop Grumman Corporation (US)Honda Motor Co., Ltd. (Japan)Seiko Epson Corporation (Japan)Yamaha Motor Co., Ltd. (Japan)Adept Technology, Inc. (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/robotics-market
Key Questions Answered in Global Robotics Market Report
How big is the global robotics market, and what compound annual growth rate (CAGR) is it anticipated to deliver between 2024 and 2031?Which industries are fuelling the need for automation and fostering the expansion of the robotics sector?What impact have recent technological advancements and innovations had on the direction of the robotics market?Which well-known companies in the robotics industry are also major players in the global robotics market?This report provides the following insights:
Analysis of key drivers (increasing demand for automation across industries, improved the overall efficiency, productivity of the processes, demand for automation), restraints (high initial investments, difficult for small and medium-sized enterprises to invest, robots, sensors, and other equipment required not delivered), opportunities (advancements in AI and machine learning technologies, new opportunities for the robotics market, perform complex tasks with high accuracy), and challenges (lack of skilled workforce, maintenance of these robotics systems) influencing the growth of robotics marketMarket Penetration: Comprehensive information on the product portfolios offered by the top players in the robotics marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the robotics marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
Global Service Robotics Market
Global Soft Robotics Market
Global Warehouse Robotics Market
Global Cloud Robotics Market
Global Robotic Welding Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:Mr. Jagraj SinghSkyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/
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