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Cardiac Holter Monitor Market - New Tech Developments and advancements to watch out for 2024!!

Press Release   •   Jan 24, 2017 13:04 IST

A cardiac holter monitor is a battery operated device which continuously monitors the heart rhythm of the patient, for a period of 24-48 hours. The duration of measuring the activity of heart depends upon the type of device used, and the patient’s condition. In certain cases, the patient’s condition may be severe, and the patient may suffer from irregular heartbeats, which may require longer duration of monitoring. A cardiac holter monitor is with electrodes that are attached to the chest of patient, and records the ECG of the heart, as the patient goes around doing his daily activities. The information from the cardiac holter monitor is then analyzed to evaluate the heart condition of the patient and determine key parameters such as slow, irregular or fast heartbeats.

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The global cardiac holter monitor market is segmented on the basis of product type, end users and region. Based on product type, the global cardiac holter monitor market can be further segmented into, cardiac holter monitoring systems (holter monitors (wired holter monitors, and wireless holter monitors), and digital holter ECG recorders), and cardiac holter monitoring software. Based on the end users, global cardiac holter monitor market can be further segmented into, hospitals, clinics, diagnostic centers, and ambulatory care centers. Among the product type segments, cardiac holter monitoring systems segment accounted for the largest market share in 2015.

Increasing prevalence of cardiovascular diseases, technological advancements in monitoring devices, and patient preference towards minimally invasive devices have been some driving factors for the growth of cardiac holter monitoring systems market. The cardiac holter monitoring software segment is expected to register lower CAGR during the forecast period of 2016-2024, due to increasing advancements in the holter monitoring systems, which are now already equipped with integrated software.

Cardiovascular Diseases (CVD) burden is increasing gradually which is one of the major health concern worldwide. According to the American Heart Association, in 2015, cardiovascular disease is the leading global cause of deaths, with around 17.3 Mn million deaths per year globally. The proportion of mortality due to cardiovascular diseases, is more in women (51%), than in men (42%). In Europe, coronary heart diseases account for approximately 1.8 million (20%) deaths annually. This factor propels the need of technological advanced cardiac devices to ensure better treatment and better patient monitoring to avoid risk associated with CVD. Based on geography, the global cardiac holter monitor market is segmented into five key regions, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

North America accounted for the largest share of the cardiac holter monitor market in 2015 followed by Europe. Cardiac holter monitoring systems are non-invasive devices which is effective in safe patient monitoring and this factor has increased the adoption of these devices among end users which ultimately drives the growth of global cardiac holter monitoring devices. Also, there is a growing trend of home and point of care testing, and a shift towards preventive care, which is driving the cardiac holter monitor market in North America & Europe. Asia Pacific is expected to witness remarkable CAGR during forecast period, due to large population base, and high prevalence of target and lifestyle diseases. However, healthcare facilities in underdeveloped and emerging countries which lack appropriate healthcare infrastructure and trained staff is anticipated to affect the adoption in these countries.

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Some of the major players in the global cardiac holter monitor market include, GE healthcare, iRhythm Technologies, Morata Instruments, Philips Healthcare, QSR Diagnostics, SCHILLER, and Welch Allyn, among others. The global cardiac holter monitor market is fragmented with presence of many small scale vendors which impacts the growth opportunities for international players.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.