Holter Monitor - Market Insights, Competitive Landscape and Market Forecast-2027

Holter Monitor Market By Type (Wired Holter Monitor And Wireless Holter Monitor), By Lead Type (1 Lead Channel, 3 Lead Channels, 12 Lead Channels And Others), By End-User (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings And Others), and by geography, is expected to grow at a significant CAGR forecast till 2027 owing to the rise in population suffering from various cardiovascular disorders such as atrial fibrillation and rise in technological advancement & shift towards ambulatory monitoring devices

The global holter monitor market will grow at a CAGR of 6.13% during the forecast period from 2022 to 2027. The stellar growth observed in the holter monitor market is primarily due to the growing burden of various cardiovascular disorders which leads to abnormal heart rhythm such as atrial fibrillation, and heart palpitations, among others that may require monitoring through holter monitors. Additionally, a rise in sedentary lifestyle and lifestyle associated disorders that increases the risk of developing CVDs to many folds is also expected to increase the demand for holter monitors in the upcoming years. Also, an increased burden of the geriatric population and growing technological advancement in the product portfolio are some of the other factors propelling the market for Holter monitor currently and will also drive the market during the forecast period from 2022 to 2027.

Holter Monitors Market Dynamics:

The Holter monitor market is witnessing lucrative growth at present owing to various factors such as the rising prevalence of various lifestyle associated with disorders such as hypertension, obesity, and others across the globe. For instance, hypertension is associated with left ventricular hypertrophy, impaired ventricular filling, left atrial enlargement, and slowing of atrial conduction velocity. These changes in cardiac structure and physiology favor the development of atrial fibrillation, and they increase the risk of thromboembolic complications which makes it necessary for monitoring the heart rhythm. According to the data published by the World Health Organization (WHO) in the year 2021, an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension in the same year and most (two-thirds) of them were living in low- and middle-income countries.

Additionally, as per various researches, obesity is considered to be responsible for a 50% increased incidence of atrial fibrillation. Thus, growing obesity among the population could also raise the demand for holter devices in the upcoming years.

For instance, as per the projections provided by the World Obesity Federation 2019, an estimated 2.7 billion adults will be overweight, over 1 billion affected by obesity, and 177 million adults severely affected by obesity across the globe by 2025.

Hence, an increase in various lifestyle-associated disorders is expected to raise the demand for holter monitors during the forecast period.

Furthermore, advancements in patient monitoring technologies and an increase in the adoption of ambulatory monitoring devices are also expected to bolster the market for advanced holter monitors in the upcoming years. For instance, LifeSignals received the CE Mark for its LifeSignals ECG Remote Monitoring Biosensor - a disposable wireless remote monitoring system, intended for use by healthcare professionals for continuous collection of electrocardiography (ECG) and heart rate monitoring in ambulatory, hospital, healthcare and home settings. The interoperable device can be integrated into most clinical workflows, including Remote Patient Monitoring systems, Mobile Cardiac Telemetry Systems, and Holter and Event Monitoring Systems.

Hence, all the above-mentioned factors are expected to surge the market for holter monitors in the forthcoming years.

However, some of the limitations associated with holter monitors and the stringent regulatory approval process are a few factors responsible for limiting the global holter monitor market growth during the study period.

Additionally, due to the unprecedented COVID-19 pandemic, the market for holter monitor witnessed slow growth during the early phases. This is because of the implementation of a nationwide lockdown, restrictions in logistical transportation, disruptive demand, and supply chain, among others. However, the application of these devices in the diagnosis and monitoring of heartbeat in patients suffering from COVID-19 along with other comorbidities helped the market to gain normalcy. Also, the launch of various vaccines and mass vaccination drive across the globe has helped the healthcare system to regain normalcy which is further expected to increase the demand for these devices during the post-pandemic.

Holter Monitors Market Segment Analysis:

Holter Monitor Market By Type (Wired Holter Monitor and Wireless Holter Monitor), By Lead Type (1 Lead Channel, 3 Lead Channels, 12 Lead Channels and Others), By End User (Hospitals & Clinics, Ambulatory Surgical Centers, Homecare Settings and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the type segment of the holter monitor market, the wireless holter monitor sub-segment is expected to hold a considerable market share in the year 2021. The various advantages associated with wireless holter monitors such as they are lightly weighted to wear than the conventional 24-h holter monitor, having a longer recording time than standard holter monitors, and others are projected to increase the demand for these devices among the patient population.

Moreover, the newly developed wireless holter monitors are integrated with telehealth technology to improve the patient's life by easily managing the condition.

For instance, e Patch, by Phillips is available as a telehealth solution for optimized cardiac monitoring.

Additionally, approval and launch of wireless holter monitors may also increase the market for these products in the upcoming years,
For instance, on January 24, 2022, Biotricity receives FDA 510(k) clearance for its Biotres Cardiac Monitoring Device which is a holter for low-risk patients and is designed for comfort for long-term wear. The device continuously records ECG data for early detection of cardiac arrhythmias.

Further, in 2020, VitalConnect®, Inc., a leader in remote and in-hospital wearable biosensor technology, launched its VitalPatch RTM cardiac monitoring solution for patients who require extended holter monitoring.

Thus, the interplay of all the aforementioned factors is expected to boost the segment market during the study period.

North America is expected to dominate the overall Holter Monitor Market:

Among all the regions, North America is expected to occupy a major share in the global holter monitor market in the year 2021 and continue to do the same during the forecast period from 2022 to 2027. This domination is due to the growing prevalence of the target population in the country which makes diagnosis and monitoring necessary for proper management of the disease. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC) in the year 2021, atrial fibrillation is the most common type of treated heart arrhythmia in the country and accounted for 183,321 deaths which shows that it has a high prevalence among the US population and proper diagnosis and monitoring is required to prevent deaths associated to arrhythmias.

Moreover, the data also mentioned that by 2030, there would be an estimated 12.1 million people in the United States suffering from atrial fibrillation.

Furthermore, an increase in lifestyle-associated disorders such as hypertension, obesity, and others among the population of the country is also expected to increase the demand for holter monitors for early detection of cardiac arrhythmias as these populations are at greater risk to develop heart rhythm abnormalities.

For instance, as per the statistics published by the CDC in 2021, approximately half of adults in the United States (47%, or 116 million) had hypertension in 2017.

Additionally, companies are expanding their product portfolio by involving in various strategic business activities such as mergers and acquisitions, product launches, and others is also likely to contribute to the market growth in the region.

For instance, in January 2021, Boston Scientific entered into a definitive agreement to acquire Preventice Solutions, Inc., a privately-held company that offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors - including short and long-term holter monitors - to cardiac event monitors and mobile cardiac telemetry.

Hence, all the above-mentioned factors are expected to bolster the holter monitors market in the region in the upcoming years.

Holter Monitors Market Key Players:

Some of the key market players operating in the holter monitor market include Koninklijke Philips N.V., Hill-Rom Services, Inc. (Baxter), SCHILLER, dms-service LLC, BPL Medical Technologies, GE Healthcare, FUKUDA DENSHI, VitalConnect, OSI Systems, Inc., Biotricity, Viatom Technology Co. Ltd., Suzuken Company Limited., Preventice Solutions, Inc., NORAV Medical, MediBioSense Ltd, Innomed Medical., Bittium, and others.

Recent Developmental Activities in the Holter Monitor Market:

• In November 2021, Royal Philips, a global leader in health technology, completed the acquisition of BioTelemetry, Inc., a leading U.S.-based provider of remote cardiac diagnostics and monitoring.
• In March 2019, Bittium launched Bittium HolterPlus™ remote cardiac monitoring solution at EHRA 2019

Key Takeaways from the Holter Monitor Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Holter Monitor market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened over the last 3 years
• Key companies dominating the Global Holter Monitor Market
• Various opportunities available for the other competitor in the Holter Monitor Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027.
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Holter Monitor market growth in the coming future?

Target Audience who can be benefited from the Holter Monitor Market Report Study

• Holter Monitor providers
• Research organizations and consulting companies
• Holter Monitor-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Holter Monitor
• Various End-users who want to know more about the Holter Monitor Market and the latest technological developments in the Holter Monitor market.

Frequently Asked Questions for the Holter Monitor Market:

1. What is Holter Monitor?
Holter monitor, an ambulatory electrocardiography device is a battery-operated portable medical device that records the electrical activity of the heart continuously over 24 hours to 48 hours.

2. What is the market for Global Holter Monitor?
The global holter monitor market will grow at a CAGR of 6.13% during the forecast period from 2022 to 2027.

3. What are the drivers for Global Holter Monitor?
The major factor driving the demand for holter monitors during the forecast period (2022-2027) is the increase in the prevalence of the population suffering from various cardiovascular disorders such as tachycardia, bradycardia, among others, increase in lifestyle associated disorders such as hypertension, obesity, and others, rise in adoption of ambulatory monitoring devices among the patient population, among others.

4. What are the key players operating in Global Holter Monitor?
Some of the key market players operating in the holter monitor space include Koninklijke Philips N.V., Hill-Rom Services, Inc. (Baxter), SCHILLER, dms-service LLC, BPL Medical Technologies, GE Healthcare, FUKUDA DENSHI, VitalConnect, OSI Systems, Inc., Biotricity, Viatom Technology Co. Ltd., Suzuken Company Limited., Preventice Solutions, Inc., NORAV Medical, MediBioSense Ltd, Innomed Medical., Bittium, and others.

5. Which region has the highest share in the Holter Monitor market?
Among all the regions, North America is expected to occupy a major share in the global holter monitor market in the year 2021. This domination is due to the growing prevalence of the target population. Additionally, an increase in lifestyle-associated disorders such as hypertension, obesity, and others among the population in the region, and strategic business activities among the players in the region to expand the market for holter monitors are likely to augment the regional market growth.
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