Global Cardiac Holter Monitor Market, By Product Type (1-Channel, 2-Channel, 3-Channel, 12-Channel, Others), Component (Holter Monitoring Devices, Event Monitoring Devices, Holter Analysis System and Software), End User (Hospitals and Clinics, Ambulatory Surgical Centers (ASCs), Homecare, Others) – Industry Trends and Forecast to 2029.
Cardiac Holter Monitor Market Analysis and Size
According to estimates, the global cardiac holter monitor market will expand at a 11.6% CAGR between 2022 and 2029. Patients have reported a wide range of arrhythmias during the pandemic, worsening the course of COVID-19 due to the associated medications. According to recent data published by the American College of Cardiology, 16.7% of COVID-19 hospitalized patients in the United States had arrhythmia, and 7.2 percent had acute cardiac injury, in addition to COVID-19-related difficulties. The rising disease burden has increased demand for mobile monitoring devices, propelling the Holter monitor market forward. The cardiac holter monitor is most commonly used to detect and analyze cardiac arrhythmias such as atrial fibrillation and bradycardia.
Data Bridge Market Research analyses that the cardiac holter monitor market which was USD 381.6 billion in 2021, is expected to reach USD 918.17 billion by 2029, at a CAGR of 11.6% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Cardiac Holter Monitor Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (1-Channel, 2-Channel, 3-Channel, 12-Channel, Others), Component (Holter Monitoring Devices, Event Monitoring Devices, Holter Analysis System and Software), End User (Hospitals and Clinics, Ambulatory Surgical Centers (ASCs), Homecare, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ScottCare Corporation (U.S.), General Electric (U.S.), Spacelabs Healthcare (U.S.), FUKUDA DENSHI (Japan), Nasiff Associates, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Biomedical Instruments Co. Ltd. (China), NIHON KOHDEN CORPORATION (Japan), Medtronic (Ireland), Hill-Rom Holdings, Inc. (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), BPL Medical Technologies (India), Boston Scientific Corporation (U.S.), CompuMed, Inc (U.S.), Meditech Equipment Co. Ltd (Meditech Group) (China), Nasan Medical Electronics Pvt. Ltd. (India)
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Market Opportunities
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Market Definition
A cardiac holter monitor is a portable electrocardiography (ECG) device that records heart rhythm continuously for 24 to 48 hours. It comprises a monitor, software, and electrodes that help interpret recorded data, determine whether the heart is getting enough oxygen, and diagnose conditions associated with abnormal cardiac rhythms such as arrhythmia, tachycardia, and atrial fibrillation. Furthermore, Holter monitoring is a test used when people experience dizziness, irregular heartbeats, or fainting.
Global Cardiac Holter Monitor Market Dynamics
Drivers
- Increasing investments in wireless holter monitors
The growing popularity of wireless devices, many market participants have increased their investments in developing wireless cardiac holter monitors. Wireless holter monitors provide convenience and accuracy, and many vendors are expanding their reach to help the market to grow. Furthermore, the growing emphasis on developing expertise in holter monitoring systems will likely provide market participants with attractive growth opportunities. For instance, NorthEast Monitoring, Inc., a company based in the United States, offers holter technology training as part of its ambulatory cardiac software and hardware solutions.
- Launch of new products
Cardiac monitoring is one of the most dependable and cost-effective methods of monitoring various cardiac conditions. Various advancements, product approvals and launches, partnerships, and acquisitions by key market players in the cardiac monitoring devices market are expected to drive the market's growth during the forecast period. For instance, Remo Care Solutions launched Remo. Cardia in February 2021 is a remote cardiac monitoring system which uses artificial intelligence to monitor and analyze patients' vitals in real-time. Remo Care Solutions developed the software, and the hardware was developed by a company based in the United States. Such product launches are expected to drive market growth.
Opportunities
- Integration of latest technologies in cardiac holter monitors
The incorporation of Bluetooth technology and wireless technology in the cardiac holter, shifting of manufacturers approach towards customer-centric development of products are the some of the trends that are likely to benefit the global market in the coming years.
Restraints/Challenges
- Stringent regulations
Holter monitoring devices are subjected to stringent regulatory requirements and insurance policies for the devices are lacking in many countries, which is expected to stymie market growth. A typical payment for a holter monitoring study is expected to be less than USD 100, which is significantly less than the pay for mobile cardiac telemetry. Furthermore, in developing countries, a lack of data processing knowledge is impeding the growth of the cardiac holter monitor market.
- Low awareness about the advantage of a cardiac holter monitor
The global cardiac holter monitor market is expected to be hampered by a lack of awareness about the benefits of holter monitoring devices. This is primarily due to a greater emphasis on traditional methods of cardiac monitoring systems, the patient's low spending power, and the limited presence of vendors. Furthermore, a lack of knowledge about the use of cardiac holter monitoring devices contributes to the market's slow growth.
This cardiac holter monitor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiac holter monitor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Cardiac Holter Monitor Market
During the pandemic, patients have reported a wide range of arrhythmias, complicating the course of COVID-19 due to the associated therapies. According to recent findings published by the American College of Cardiology, 16.7% of COVID-19 hospitalized patients in the United States had arrhythmia, and 7.2 percent had acute cardiac damage in addition to COVID-19-related problems. The rise in cardiac arrests linked to COVID-19 infection increased its demand. Furthermore, the use of holter monitors for cardiac health was encouraged by an increase in telehealth and shorter hospital stays. The demand for cardiac holter monitors is expected to remain high during the forecast period. Changes in lifestyle, an increase in chronic diseases, and a growing preference for remote health monitoring devices are all contributing factors. The rising disease load has increased demand for mobile monitoring devices, propelling the ECG patch and cardiac holter monitor market.
Recent Developments
- In November 2021, Philips, a leading health technology company, announced the acquisition of Cardiologs, a medical technology company based in France that focuses on leveraging cloud technologies and artificial intelligence to transform cardiac diagnostics.
- In April 2022, Medtronic announced the launch of artificial intelligence algorithms for cardiac monitoring in Europe.
Global Cardiac Holter Monitor Market Scope
The cardiac holter monitor market is segmented on the basis of product type, component, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- 1-Channel
- 2-Channel
- 3-Channel
- 12-Channel
- Others
Component
- Holter Monitoring Devices
- Event Monitoring Devices
- Holter Analysis System and Software
End User
- Hospitals and Clinics
- Ambulatory Surgical Centers (ASCs)
- Homecare
- Others
Cardiac Holter Monitor Market Regional Analysis/Insights
The cardiac holter monitor market is analyzed and market size insights and trends are provided by country, product type, component, and end user as referenced above.
The countries covered in the cardiac holter monitor market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cardiac holter monitor market due to increasing occurrences of cardiac stroke along with changing lifestyles of the people and the occurrence of improved healthcare facilities.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the growing volume of patients suffering from cardiovascular diseases and the prevalence of local manufacturers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The cardiac holter monitor market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac holter monitor market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac holter monitor market. The data is available for historic period 2010-2020.
Competitive Landscape and Cardiac Holter Monitor Market Share Analysis
The cardiac holter monitor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac holter monitor market.
Some of the major players operating in the cardiac holter monitor market are:
- ScottCare Corporation (U.S.)
- General Electric (U.S.)
- Spacelabs Healthcare (U.S.)
- FUKUDA DENSHI (Japan)
- Nasiff Associates, Inc. (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Biomedical Instruments Co. Ltd. (China)
- NIHON KOHDEN CORPORATION (Japan)
- Medtronic (Ireland)
- Hill-Rom Holdings, Inc. (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- BPL Medical Technologies (India)
- Boston Scientific Corporation (U.S.)
- CompuMed, Inc (U.S.)
- Meditech Equipment Co. Ltd (Meditech Group) (China)
- Nasan Medical Electronics Pvt. Ltd. (India)
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