The global wearable ECG devices market is expected to grow at a CAGR of approximately 19.32% from 2021 to 2027

New York, Jan. 12, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Wearable ECG Devices Market – Global Outlook & Forecast 2022-2027” – https://www.reportlinker.com/p06380024/?utm_source=GNW
Together, these technologies enable high-quality electrocardiogram (ECG) acquisition and automatic signal interpretation with cardiologist-level accuracy. Various arrhythmias, such as atrial fibrillation (AF), are detectable, and their diagnosis has important therapeutic implications and may improve patient outcomes.
b) Mobile ECG sensors are integrated into wearable devices like smartwatches (Apple Watch, AliveCor Kardia), patches (iRhythm Zio), bands (Fitbit Sense), necklaces (toSense CoVa), clothing, rings, and other wearable forms. Key considerations for device selection include electrode type and configuration, storage capacity, power consumption, battery life, signal processing electronics, and wireless communication capabilities. Most mobile RM devices use a 1-lead ECG configuration for ease of use, but six or more lead configurations (such as the AliveCor KardiaMobile 6L) are also available. The emergence of advanced sensors, AI, ML, and DL in wearable ECG is boosting the wearable ECG devices market.

The Emergence Of Smartwatches Equipped With ECG

a) One of the biggest health features in smartwatches today is the ECG feature. EKG stands for Electrocardiogram and is sometimes abbreviated as EKG. A medical procedure that measures heart activity to check for abnormalities. An electrocardiogram taken in a hospital would require a more detailed reading. Still, the advantage of equipping smartwatches with similar hardware is that the owner can take an electrocardiogram at any time and provide that data to the doctor. The Apple Watch (Series 4, 5, and 6) features an FDA-cleared ECG app that captures 30-second electrocardiogram segments and then analyzes normal rhythm and AF using the user’s smartphone.
b) Similarly, the Fitbit Sense is another smartwatch-type device with FDA clearance for AF detection. The Samsung Galaxy Watch3 and Galaxy Watch Active2 also include an FDA-cleared ECG monitoring function that includes screening for AF. With the help of built-in connectivity technologies and apps, smartwatches frequently combine ECG data with monitoring other physiologic indicators. They also feature streamlined data storage and transmission capabilities. Such integration of ECG with smartwatches contributes to the growth of the wearable ECG devices market.

The Paradigm Shift from Conventional ECG Towards Ambulatory ECG

a) Ambulatory monitors enable a new paradigm in healthcare by collecting and analyzing long-term data for a reliable diagnosis. These devices are becoming increasingly popular for continuous cardiac monitoring. Advances in hardware and software have created new devices that are convenient and affordable. This allows vulnerable people to be monitored from the comfort of their own homes while providing critical alerts about events requiring urgent medical attention or hospitalization. The essential advantage of wearable ECG devices is that one can continue daily activities while the heart is being monitored.
b) Wearable ambulatory monitoring devices, including Holter monitors, are mainly embedded with electrocardiogram sensors for monitoring irregular heartbeats. It is challenging for the HCPs to detect arrhythmic disorders with conventional ECG due to their characteristic of intermittent short episodes. Holter monitors can overcome the challenge faced by conventional ECG devices of low successful diagnosis outcomes. Owing to the benefits of ambulatory monitoring, wearable ECG devices market players are significantly focusing on developing user-friendly, safe & accurate ambulatory ECG devices. For instance, introducing the latest-generation patch-based Holter monitors can be worn up to a few weeks instead of 24/48 hours while offering the greatest patient comfort.

SEGMENTATION ANALYSIS

INSIGHT BY PRODUCT

The smartwatch-based ECG accounted for the largest share of 83.31% in the global wearable ECG devices market in 2021 under the product segment. The higher share can be attributed to the biggest health feature in smartwatches today, the ECG feature. Apple, a key player in smartwatch-based ECG, released its first smartwatch in 2018 and received FDA clearance for automatic AF detection. Still, smartwatches from other leading players such as Samsung, Withings, and Alphabet (Fitbit) also take ECG recordings and alert the wearer when AF is detected. The process of acquiring an electrocardiogram, analyzing it to produce an automated diagnosis of AF, and providing options for communicating those results to the wearer’s physician is similar across smartwatch makers. In September 2022, Apple launched Apple Watch Series 8 and the new Apple Watch SE. The ECG app can record the user’s heartbeat and rhythm using the pioneering electrical heart sensor on the company’s Watch Series 4, Series 5, Series 6, Series 7, Series 8, or ultra and then check the recording for AF, a form of irregular rhythm.

Segmentation By Product

• Smartwatch-Based ECG
• Mobile Cardiac Telemetry
• Holter Monitoring
• Cardiac Event Monitoring

INSIGHTS BY FREQUENCY

The global wearable ECG devices market is segmented into episodic & Adhoc and continuous by frequency segmentation. The global wearable ECG devices market by episodic & Adhoc market is expected to reach USD 22.28 billion by 2027, growing at a CAGR of 19.48% during the forecast period. Ad-hoc (i.e., one-time) fixed monitoring has been used in many research studies to address different medical settings using different types of ECG sensors and monitoring platforms. Several investigators emphasized that ad hoc non-ambulatory monitoring may reduce the burden of post-ablation outpatient visits and atrial fibrillation-related hospital visits. As the smartwatch-based ECG is the leading segment and has the largest share, 83.31%, in the global wearable ECG devices market, the episodic & ad hoc segment is also the largest share, 62.36% in the global wearable ECG devices market.

Segmentation By Frequency

• Episodic & Adhoc
• Continuous

GEOGRAPHICAL ANALYSIS
a) North America accounted for the largest share of 34.08% in the global wearable ECG devices market in 2021 and is likely to witness the highest incremental growth of around USD 9.01 billion during the forecast period. The US is the major revenue contributor to the North American wearable ECG devices market and accounted for a share of 91.30% in 2021. The growth in the region is mainly attributed to the increasing incidence of AF, CVDs such as CAD, surge in diagnosis procedures for treating such diseases. The availability of advanced wearable ECG devices developers, constant technological innovations, and growing acceptance of technologically advanced wearable ECG devices further accelerate the region’s market growth.
b) The wearable ECG devices market in APAC is growing significantly and is expected to grow at a similar pace during the forecast period. Some factors contributing to this region’s growth are a large pool of patient population, improvements in healthcare infrastructure, and increased healthcare expenditure. Further, the increasing prevalence of cardiac diseases, including AF, the aging population, and the smart wearable adoption trends among the young generation are the key factors driving the wearable ECG devices market in the region.
c) In 2021, Europe accounted for 25.09% of the global wearable ECG devices market share. The rising awareness of ambulatory ECG devices for AF, and CVDs, coupled with improved healthcare infrastructure, various favorable guidelines, and the availability of technologically advanced ECG-based smartwatches, patch are driving the growth of the wearable ECG devices market in the region. Germany, France, the UK, Italy, and Spain are the major revenue generators in the region. These five countries of the ECG devices market collectively accounted for around 65.03% of the European wearable ECG devices market in 2021.

By Geography

• APAC
o China
o India
o Japan
o South Korea
o Australia
• Europe
o Germany
o Italy
o Spain
o France
o UK
• North America
o US
o Canada
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o Turkey
o South Africa
o South Arabia

VENDOR LANDSCAPE

Vendors in the global wearable ECG device market are actively researching and commercializing their novel and advanced wearable ECG device. In the past five years, many vendors received regulatory approvals for their wearable ECG devices. For instance, Withings has received US FDA clearance for the launch of the ScanWatch in the US. The watch was launched in Europe and Australia in 2020 and released in the US in November 2021. In November 2020, VitalConnect, a leader in remote and in-hospital wearable biosensor technology companies, announced that it had launched its VitalPatch RTM cardiac monitoring solution for users who want to expand Holter monitoring. Vendors operating the wearable ECG device market are pursuing various strategies to provide the impetus for growth over the next few years. These market participants adopt collaboration, partnerships, mergers, acquisitions, product launches, and other strategies.

Recent Developments In The Global Wearable ECG Devices Market

• In September 2022, Apple launched Apple Watch Series 8 and the new Apple Watch SE.
• In April 2022, Biotricity, a medical diagnostic and healthcare technology player, launched the commercial sales of the Biotres, an FDA-approved wireless wearable extended Holter monitor for Up to 30-day wear duration.
• In 2021, Philips acquired BioTelemetry, a leading vendor in the mobile cardiac telemetry segment.
• In 2021, Boston Scientific acquired Preventice Solutions.
• In December 2021, Baxter International acquired Hill-Rom Services.

ECG-Based Smartwatches: Key Company Profiles
• Apple
• Alphabet
• Samsung Electronics
• Withings

Other Wearable ECG Devices: Key Company Profiles

• Boston Scientific
• GE Healthcare
• iRhythm Technologies
• Hill-Rom
• Koninklijke Philips
• OSI Systems

Other Prominent Vendors

• BPL Medical Technologies
• Bardy Diagnostics
• Bittium
• CardiacSense
• Cortrium
• FUKUDA DENSHI
• Masimo
• Medicalgorithmics
• Advanced Instrumentations
• AMEDTEC MEDIZINTECHNIK AUE
• ASPEL
• Hangzhou Beneware Medical Equipment
• Biotricity
• Borsam Biomedical Instruments
• BTL
• Contec Medical System
• Custo Med
• Oy Diagnostic Devices Development – DDD
• DMS-Service
• EB-Neuro
• Edan Instruments
• Forest Medical
• Holter Supplies
• Labtech
• LPU Medical
• LIVEWELL
• Lumed
• medical ECONET
• Medicomp
• Meditech KFT
• Meditech Equipment
• Midmark
• Monitor
• Nasan Medical Electronics
• Nasiff Associates
• Neurosoft
• Norav Medical
• Northeast Monitoring
• Recorders & Medicare Systems
• Scottcare Cardiovascular Solutions
• Schiller
• Shenzhen Biocare Bio-Medical Equipment
• Suzuken Company
• Trimpeks
• UPOLife
• VivaLNK

KEY QUESTIONS ANSWERED

1. How big is the wearable ECG devices market?
2. What is the growth rate of the global wearable ECG devices market?
3. Which region holds the most prominent global wearable ECG devices market share?
4. Who are the global wearable ECG devices market’s key players?
5. What are the growth opportunities in the wearable ECG devices market?
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