GlobalData: Global ECG Data Management Systems - Increasing Demand
to Drive Growth on reports-research.com
Date: 05.08.2009 - 18:46
Category: Health & Medicine
Press release from: dynamic technologies Gmbh, Köln, Germany
The new report by GlobalData, Global ECG Data Management Systems: Increasing Demand to Drive Growth, finds that the
significant operational cost reduction that can be achieved through the adoption of ECG data management systems by
hospitals, and technological innovation are expected to drive the growth in the ECG data management systems market. The
report, highlights these developments as the key market drivers for the global ECG data management systems market.
Global ECG Data Management Systems Market Forecast To Reach $157.9 Million In 2015
GlobalData estimates that the global market for ECG data management systems was valued at $122.2 million in 2008. The
market is expected to reach $157.9 million in 2015 with an annual growth rate of 3.7%. Significant operational cost reduction
that can be achieved through the adoption of ECG data management systems by the hospitals and technological innovation are
expected to drive the market.
Hospitals can gain significant operational cost reduction through the adoption of ECG data management systems.
Considerable costs are associated with the manual storage of large volumes of patient ECG data, administration and
transaction. Saving of $2 per ECG test can translate into $600 million savings for the hospitals considering 300 million ECG
tests are performed annually in the US.
New Hospital Constructions to Provide Growth Opportunities for the ECG Data Management System Companies In The
Healthcare infrastructure growth is expected to be in low single digits in 2009 in the US despite the economic downturn. In
the fourth quarter of 2007 alone, a total of $41 billion was spent on the construction of hospitals and clinics. More than 3000
projects (including hospitals, outpatient clinics) are currently under development in the US alone. Approximately 20% of the
existing hospitals are planning to go for facility modernization.
New hospital constructions provide growth opportunities for the ECG data management companies in the future. An
important trend in the new hospital construction is the increasing number of specialty hospitals (cardiovascular, cancer and
orthopedic being major).
Emerging Markets to Open New Growth Avenues for the ECG Data Management Systems Market
Expanding into emerging economies like China, India, Russia and Brazil should be a key priority for ECD data management
companies in the future. China and India are growing economically at a rate of 5-7% in spite of the global downturn. These
countries are also the most populous countries with high incidence of cardiac diseases. Emerging economies have established
healthcare facilities that can afford ECG data management systems. An added advantage in emerging economies is that a good
percentage of the hospitals are run by the government. The Chinese government recently issued a stimulus package of $100
million for improving the healthcare system. GE Healthcare and Philips Healthcare have a strong presence in the Chinese
market and should be able to capitalize on the stimulus package.
GE Healthcare Dominates the Global ECG Data Management Systems Market
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GE Healthcare with 50% market share is the dominant player in the global ECG data management systems market. Philips
Healthcare with 24% and Cardiac Science with 12% are the other leading players in the market. GE Healthcare has lost some
of its market share in the last five years with the emergence of companies like Mortara Instrument, Suzuken Kenz.
GE Healthcare, Philips Healthcare and Cardiac Science dominate the ECG data management systems market leaving very
little growth prospects for other players. Hospitals low affordability is also a major barrier for new companies trying to enter
the ECG data management systems market.
GlobalData: Global ECG Data Management Systems: Increasing Demand to Drive Growth:
GlobalData: More market data and market reports:
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