Product Watch

The Indian ECG Market maintains its momentum even in a constrained economic climate

The Indian ECG equipment market has emerged as one of the most profitable in the patient monitor-ing sector, marking a compound annual growth rate (CAGR) of 12.6 percent from 2010 to 2017. The market showed no signs of slowing down even during the global economic downturn, with the stress ECG/TMT market generating $9.1 million in 2010, at a growth rate of 11.1 percent. However, it is the 6/12-channel ECG equipment market, with a remarkable CAGR of 21.6 percent that is expected to power the market ahead.


Overview of the Electrocardiograph (ECG) Equipment Market in India, finds that the market earned revenues of $26.5 million in 2010 and estimates this to reach $60.7 million in 2017.

The market is benefitting from the rising incidence and awareness of cardiovascular diseases, escalat-ing public expenditure on healthcare services, increasing demand for high-end equity systems, and rapid technological advancements.

End users have shown a marked preference for equipment with more accurate measurements, says Frost & Sullivan Research Analyst. This has created a wider market for high-equity ECG systems (6 and 12 channel ECGs) market, but shrunk the channel ECG market.


Despite the overall vast market potential, participants will face some road blocks while trying to penetrate the rural markets. The inadequate access to healthcare facilities and competition from the low-cost domestic market will peg back participants that are looking to establish a toehold in the Indian market.

The competition between domestic and major market participants has even led to price wars in the single-channel and 3-channel ECG market segments, which have, in turn, eroded the profit margins of prominent market participants.

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