New York, United States, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Global Holter ECG Market Size is To Grow from USD 1.3 Billion in 2022 to USD 3.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.09% during the forecast period.
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A Holter monitor is a small, wearable device that monitors heart rate. It detects and transfers small electrical impulses from the heart to the chest surface. It is worn primarily to detect issues with cardiac function. The equipment detects faults such as atrial fibrillation, tachycardia, and atrial flutter. Except for minor pain or skin irritation where the electrodes are inserted, there are no dangers associated with using a Holter monitor. The primary distinction between an ECG and Holter monitoring is that an electrocardiogram records the heartbeat for a few minutes, whereas Holter monitoring records the rhythm for 24 hours. It aids in the identification of arrhythmias that may occur only at certain times of the day. Also, due to socioeconomic levels and sedentary lifestyles, the prevalence of cardiac diseases is higher in developing nations. The increased prevalence of heart illness will drive market expansion.
The demand for Holter ECG technology is increasing because these devices can save those who are at high risk of cardiac arrest by detecting them early. Pre-monitoring and pre-diagnosis can prevent most types of CVD, and hence anomalies in heart function can be prevented with early identification. Furthermore, the rising prevalence of cardiovascular disease (CVD) is increasing the demand for cardiac care facilities that are well-equipped with inexpensive and modern Holter ECG devices for early and effective diagnosis and treatment, as well as frequent examinations. However, a shortage of skilled personnel, insufficient healthcare infrastructure, and inconsistency in reimbursement rules are projected to restrict market expansion.
Covid 19 Impacts
The COVID-19 epidemic generated extraordinary public health concerns throughout the world, favorably impacting the Holter ECG industry. Myocardial damage looked to be a prevalent consequence in COVID-19 patients, according to the National Institute of Health. Furthermore, a meta-analysis of six published research revealed that a significant percentage of COVID-19 patients had associated heart injury. Wearable cardiac monitors, which include Holter ECG devices, are becoming increasingly popular due to several benefits such as lower size, mobility, ease, and exact results, among others. Novel Holter ECG monitors capable of continually recording the electrical activity of the heart in any low-resource scenario were required to properly battle the COVID-19 epidemic.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Holter ECG Market Size By Product Type (Continuous Monitors and Intermittent Monitors), By Modality (Wired Holter Monitors {3 Lead Holter Monitors, 12 Lead Holter Monitors}, Wireless Holter Monitors), By End-use (Hospitals, Ambulatory Surgical Centers, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032."
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The continuous monitors segment is influencing the market with the largest market share during the forecast period.
The global Holter ECG market is divided into two categories based on product type such as continuous monitors and intermittent monitors. Among these categories, the continuous monitors segment is expected to dominate the market with the highest revenue share throughout the forecast period, owing to significant technical advancement and increased awareness of the advantages of adopting continuous Holter ECG monitoring. The major advantage of a Holter monitor is that it is a portable and wearable device that patients may readily utilize while going about their everyday activities. Doctors highly advise using these devices to monitor the heart rhythm throughout daily activities or hospitalization.
The wired Holter monitors segment is dominating the largest market share over the forecast period.
The global Holter ECG market is segmented into many groups based on modality, including wired Holter monitors (3 lead Holter monitors, 12 lead Holter monitors), and wireless Holter monitors. Among these categories, the wired Holter monitors segment is expected to dominate the market throughout the forecast period, owing to increasing technical developments in wired Holter monitors, increased R&D efforts, and growing usage of minimally invasive technologies, among other factors. The most modern Holter ECG systems transmit remote cardiac monitoring data directly.
The hospital segment is dominating the market with the largest market share during the forecast period.
The global Holter ECG market is bifurcated into three segments based on end use such as hospitals, ambulatory surgery centers, and others. Among these segments, the hospital segment is expected to have significant development potential over the analysis period due to the increasing use of innovative wearable cardiac devices in hospital settings that provide quick and accurate results, which is expected to increase patient preference for these healthcare facilities. The availability of a diverse variety of Holter ECG recorders that provide continuous monitoring with established accuracy is likely to increase product choice in hospitals.
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North America influenced the market with the largest market share over the forecast period
North America is expected to lead substantial market expansion during the projection owing to the increased prevalence of cardiovascular disease, the aging population, and the growing necessity for remote monitoring, as well as the increasing availability of various monitoring and treatment technologies. Furthermore, the United States is one of the top nations in terms of heart care programs, and the government has implemented several suggestions to encourage heart health, including the Million Hearts campaign.
Asia Pacific is predicted to experience strong revenue market growth throughout the forecast period due to improvements in healthcare infrastructure, growth in the number of hospitals equipped with current scanning technologies, the expansion of the R&D industry, an increase in healthcare reforms, and technological advancements in the field of Holter ECG monitoring.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Holter ECG Market include GE HealthCare, Koninklijke Philips N.V., Nihon Kohden Corporation, OSI Systems, Inc., Hill-Rom Holdings, Inc., Cardiac Insight Inc., Medtronic PLC, Schiller AG, Mindray Medical International Limited, Fukuda Denshi Co Ltd., and Others.
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Recent Development
- In November 2021, the purchase of Cardiology by Philips increased the company's heart diagnostics and monitoring capabilities. This comprised real-time patient monitoring, therapeutic devices, hospital telehealth, and informatics, as well as ambulatory cardiac diagnostics and monitoring solutions obtained through the recent acquisition of BioTelemetry, Inc. As a consequence, Philips' current offering of cardiac care products was enhanced by the purchase of Cardiology.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Holter ECG Market based on the below-mentioned segments:
Global Holter ECG Market, Product Type
- Continuous Monitors
- Intermittent Monitors
Global Holter ECG Market, By Modality
- Wired Holter Monitors {3 Lead Holter Monitors, 12 Lead Holter Monitors}
- Wireless Holter Monitors
Global Holter ECG Market, By End Use
- Hospitals
- Ambulatory Surgical Centers
- Others
Holter ECG Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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