Singapore Electrocardiograph (ECG) Market Size and Share
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 5.02 Million |
| Market Size (2030) | USD 6.38 Million |
| CAGR (2025 - 2030) | 4.94% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Singapore Electrocardiograph (ECG) Market Analysis by Mordor Intelligence
The Singapore Electrocardiograph Market size is estimated at USD 5.02 million in 2025, and is expected to reach USD 6.38 million by 2030, at a CAGR of 4.94% during the forecast period (2025-2030).
The Singapore Electrocardiograph (ECG) market is witnessing significant advancements, driven by the increasing prevalence of cardiovascular diseases (CVD) and the growing emphasis on preventive healthcare. The market is poised to growth with a well-established healthcare infrastructure and government initiatives aimed at improving public health. The adoption of ECG devices is becoming more prevalent as healthcare providers and policymakers focus on early detection and management of heart-related conditions. Technological innovations and collaborative research efforts in the healthcare sector further support this market.
The increasing prevalence of hypertension and cardiovascular diseases is driving the need for ECG machines. For instance, the National Population Health Survey 2023, published in August 2024, found that approximately 15.0% of Singapore residents aged 18 to 74 years self-reported having hypertension in 2023. The prevalence of hypertension escalates with age, ranging from 2.4% among individuals aged 30 to 39 years to 47.7% in those aged 70 to 74 years. This growing burden of hypertension highlighted the need for regular cardiovascular monitoring, thereby boosting the demand for ECG devices in the country. Regular monitoring of heart-related conditions through ECG technology is becoming a critical component of managing the rising cases of hypertension and associated complications.
Furthermore, government initiatives aimed at preventive healthcare are significantly contributing to the growth of the ECG market in Singapore. For instance, in September 2023, more than 10,000 Singaporeans aged 40 to 70 were screened under Project Reset, a large-scale preventive health program led by the SingHealth Group. This initiative, supported by a USD 25 million government grant, focuses on identifying hidden heart diseases in seemingly healthy individuals. Such programs underscore the importance of early diagnosis and intervention, driving the adoption of ECG devices as a standard tool for cardiovascular health assessment. The integration of ECG technology into large-scale health screenings further strengthens its role in preventive healthcare strategies.
Moreover, efforts to enhance public awareness and accessibility to cardiovascular health monitoring are also fueling the ECG market's growth. For instance, in September 2024, the Singapore Heart Foundation (SHF) launched Blood Pressure (BP) Awareness Kiosks in community spaces as part of National Heart Week/World Heart Day 2024. The initative aim to make BP measurement more accessible to the public while promoting awareness of cardiovascular diseases and hypertension. By encouraging regular monitoring of blood pressure and cardiovascular health, such initiatives are anticipated to drive the demand for ECG devices.
Therefore, the studied market is positioned to grow over the forecast period, supported by the rising prevalence of hypertension and cardiovascular diseases, government-led preventive healthcare initiatives, and community-based awareness programs. However, the high cost associated with advanced ECG devices may act as a barrier, potentially limiting the market's expansion in the country during the same period.
Singapore Electrocardiograph (ECG) Market Trends and Insights
Holter ECG Systems Segment is Expected to Have Significant Growth in the Market Over the Forecast Period
The Holter ECG segment growth is driven by its ability to provide continuous cardiac monitoring and support accurate diagnosis of heart conditions. This segment is expected to witness growth over the forecast period due to the increasing prevalence of cardiovascular diseases and the demand for advanced diagnostic tools. The availability of skilled healthcare professionals further enhances the adoption of Holter ECG devices in Singapore.
The increasing prevalence of heart failure in Singapore significantly drives the demand for Holter ECG devices. For instance, according to an article published by the Singapore Heart Foundation in July 2024, people living with heart failure in Singapore range from 4% to 5%, which is higher than the global average of 1% to 2%. This alarming statistic underscores the need for continuous cardiac monitoring solutions, such as Holter ECG devices, to detect and manage heart conditions effectively. The growing burden of cardiovascular diseases in the country has created a robust market opportunity for advanced diagnostic tools.
Furthermore, the benefits offered by Holter ECG devices have enhanced their applications and usability, contributing to their growing adoption in the Singapore Electrocardiograph (ECG) market. For instance, an article published by Michael MacDonald Cardiology in August 2024 emphasized the importance of Holter monitors as essential tools for identifying and treating cardiac issues in Singapore. These devices provide continuous cardiac health monitoring, enabling the detection of arrhythmias and the evaluation of therapy efficacy. The availability of state-of-the-art medical facilities and skilled cardiologists in Singapore ensures accurate diagnoses and effective treatment plans, further boosting the adoption of Holter ECG devices.
Moreover, the integration of palliative care into cardiology practices is expected to drive the demand for Holter ECG devices in Singapore. For instance, in January 2025, the Lien Foundation and the National Heart Centre Singapore (NHCS) are set to launch the Heartlanders program, supported by USD 6.5 million in funding from the Lien Foundation. This initiative aims to incorporate generalist palliative care into cardiology, ensuring that patients with heart failure receive comprehensive care. By addressing the needs of patients with advanced heart conditions, this program is likely to increase the utilization of Holter ECG devices for continuous monitoring and management of cardiac health.
Hence, the Holter ECG segment is poised for significant growth, driven by the rising prevalence of heart failure, advancements in technology, and the integration of palliative care into cardiology. As the demand for continuous cardiac monitoring solutions grows, the Holter ECG segment is expected to witness sustained expansion in the coming years.
ECG Management Software is Expected to Have Fastest Growth in the Market Over the Forecast Period
The electrocardiograph (ECG) management software segment's growth is attributed to advancements in healthcare technology and the increasing prevalence of cardiovascular diseases. This segment plays a critical role in improving diagnostic accuracy, streamlining patient data management, and enabling real-time monitoring of cardiac health. With the healthcare industry in Singapore focusing on digital transformation, the adoption of ECG management solutions is expected to grow significantly, driven by the need for efficient and accurate cardiac care systems.
The increasing incidence of cardiovascular diseases such as heart attacks in Singapore is likely to surge the hospitalization rate, where ECG management software plays a crucial role in monitoring cardiac health. For instance, a study published by the Consortium for Clinical Research and Innovation, Singapore (CRIS) in October 2024 revealed that on average, 34 individuals experience heart attacks daily in Singapore. Furthermore, projections indicate a significant rise in heart attack cases, from 482 per 100,000 people in 2025 to 1,418 per 100,000 by 2050, representing a nearly three-fold increase. This alarming trend underscores the urgent need for advanced ECG management solutions to enhance early diagnosis and risk stratification, thereby supporting better clinical outcomes.
Furthermore, technological innovations in cardiac risk assessment are contributing to the growth of ECG Management Software in Singapore. For instance, in September 2024, a research team at Singapore General Hospital (SGH), led by A/Prof Marcus Ong Eng Hock, developed and patented an intelligent cardiac risk stratification system (aiTRIAGE). This system integrates heart rate variability (HRV), electrocardiogram (ECG) parameters, and vital signs into a scoring mechanism for real-time risk stratification of Major Adverse Cardiac Events (MACE). Published data validate this approach and demonstrate its superiority in predicting MACE risks compared to traditional methods such as Thrombolysis In Myocardial Infarction (TIMI) and Modified Early Warning Score (MEWS). Such advancements highlight the growing reliance on ECG management technologies to improve diagnostic precision and patient care.
Moreover, the Singapore healthcare sector's emphasis on digital transformation which is aniticipated to drive the adoption of ECG management software. With increasing investments in healthcare IT infrastructure, hospitals, and clinics are integrating advanced software solutions to enhance operational efficiency and patient outcomes. The development of innovative tools, such as the cardiac risk stratification system mentioned above, aligns with the broader trend of leveraging technology to address critical healthcare challenges. This focus on digitalization is expected to further propel the demand for ECG management solutions in the market.
Competitive Landscape
The competitive landscape of the electrocardiograph (ECG) market in Singapore is characterized by a mix of established companies and emerging players. The market is semi-consolidated yet dynamically competitive. Additionally, many companies offer specialized solutions, contributing to a vibrant and evolving ecosystem. Some of the major players in the market include EDAN Instruments, Inc., Nihon Kohden Corporation, Koninklijke Philips N.V., GE HealthCare, and Shenzhen Mindray Bio-Medical Electronics Co., Ltd, among others.
Singapore Electrocardiograph (ECG) Industry Leaders
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EDAN Instruments, Inc.
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GE HealthCare
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Koninklijke Philips NV
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Shenzhen Mindray Bio-Medical Electronics Co., Ltd
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Nihon Kohden Corporation
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- February 2025: Koninklijke Philips N.V., a global health technology company, partnered with SingHealth, Singapore's most significant public healthcare cluster, to enhance healthcare delivery. The collaboration aims to deploy innovative technologies and accelerate the digital transformation of Singapore's healthcare landscape. The company has also previously partnered with SingHealth to implement an iECG initiative to transform the delivery of cardiovascular care in Singapore.
- April 2023: Singapore General Hospital initiated a randomized controlled trial for patients experiencing chest pain in the emergency room. The trial focuses on an AI-based cardiac risk stratification tool named Duke-NUS, which can rapidly and in real-time identify individuals whose chest pain may indicate a more serious condition.
Singapore Electrocardiograph (ECG) Market Report Scope
As per the scope of the report, an electrocardiograph (ECG) is a medical device used to record the heart's electrical activity. The device captures the heart's electrical signals and produces a graphical representation known as an electrocardiogram.
The Singapore electrocardiograph (ECG) market report provides a comprehensive analysis of the current state and growth potential of the ECG market in the country. The Singapore electrocardiograph (ECG) market is segmented by product type, which includes resting (12-lead ECG) systems, stress ECG systems, Holter ECG systems, and ECG management software. The report offers the market size in terms of both value (in USD) and volume (in units) for the above segments.
| Resting (12- Lead ECG) Systems |
| Stress ECG Systems |
| Holter ECG Systems |
| ECG Management Software |
| By Product Type | Resting (12- Lead ECG) Systems |
| Stress ECG Systems | |
| Holter ECG Systems | |
| ECG Management Software |
Key Questions Answered in the Report
How big is the Singapore Electrocardiograph Market?
The Singapore Electrocardiograph Market size is expected to reach USD 5.02 million in 2025 and grow at a CAGR of 4.94% to reach USD 6.38 million by 2030.
What is the current Singapore Electrocardiograph Market size?
In 2025, the Singapore Electrocardiograph Market size is expected to reach USD 5.02 million.
Who are the key players in Singapore Electrocardiograph Market?
EDAN Instruments, Inc., GE HealthCare, Koninklijke Philips NV, Shenzhen Mindray Bio-Medical Electronics Co., Ltd and Nihon Kohden Corporation are the major companies operating in the Singapore Electrocardiograph Market.
What years does this Singapore Electrocardiograph Market cover, and what was the market size in 2024?
In 2024, the Singapore Electrocardiograph Market size was estimated at USD 4.77 million. The report covers the Singapore Electrocardiograph Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Singapore Electrocardiograph Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Singapore Electrocardiograph (ECG) Market Report
Statistics for the 2025 Singapore Electrocardiograph (ECG) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Singapore Electrocardiograph (ECG) analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
