The global Holter ECG monitoring market was valued at $320.81 million in 2020, and is projected to reach $696.67 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.
Holter monitor is device, which facilitates prolonged monitoring of heart rhythm from a few days to several months, enabling the detection of infrequent arrhythmias in patients. In addition, Holter aids in detecting ventricular tachycardia (VT) in patients with recognized risk of sudden cardiac death. Portability of Holter monitors has significantly propelled the market growth, as they can be easily worn by the patients to record heart activity continuously for a certain period of time.
Rise in the geriatric population, increase in prevalence of heart stroke, surge in number of patients suffering from hypertension, and upsurge in prevalence of obesity gave significantly contribute towards the growth of the global Holter ECG monitoring market. In addition, technological advancements and growth in awareness about feasible use of these devices are the key drivers of the market. However, lack of trained professionals, inappropriate healthcare infrastructure, and unsteady reimbursement policies are expected to hamper the market growth. On the contrary, advanced Holter monitors with enhanced sensitive algorithms for automatic detection of arrhythmias are expected to create lucrative opportunities for the market growth in the near future.
The Holter ECG monitoring market is segmented on the basis of component, lead type, end user, and region. On the basis of component, the market is categorized into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. On the basis of lead type, it is classified into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. On the basis of end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCS), and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Holter monitor is device, which facilitates prolonged monitoring of heart rhythm from a few days to several months, enabling the detection of infrequent arrhythmias in patients. In addition, Holter aids in detecting ventricular tachycardia (VT) in patients with recognized risk of sudden cardiac death. Portability of Holter monitors has significantly propelled the market growth, as they can be easily worn by the patients to record heart activity continuously for a certain period of time.
Rise in the geriatric population, increase in prevalence of heart stroke, surge in number of patients suffering from hypertension, and upsurge in prevalence of obesity gave significantly contribute towards the growth of the global Holter ECG monitoring market. In addition, technological advancements and growth in awareness about feasible use of these devices are the key drivers of the market. However, lack of trained professionals, inappropriate healthcare infrastructure, and unsteady reimbursement policies are expected to hamper the market growth. On the contrary, advanced Holter monitors with enhanced sensitive algorithms for automatic detection of arrhythmias are expected to create lucrative opportunities for the market growth in the near future.
The Holter ECG monitoring market is segmented on the basis of component, lead type, end user, and region. On the basis of component, the market is categorized into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. On the basis of lead type, it is classified into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. On the basis of end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCS), and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans
- A comprehensive analysis of the factors that drive and restrain the growth of the Holter ECG Monitoring market is provided
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market
KEY MARKET SEGMENTS
By Component
- Wired Holter Monitors
- Wireless Holter Monitors
- Holter Analysis System & Software
By Lead Type
- Patch Type Single Holter Monitors
- 3 Lead Holter Monitors
- 6 Lead Holter Monitors
- 12 Lead Holter Monitors
- Others
By End User
- Hospitals & Clinics
- Home Settings & Ambulatory Surgical Centers
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- BPL Medical Technologies
- Fukuda Denshi Co Ltd
- General Electric Company
- Hill Rom Holdings, Inc
- Koninklijke Philips NV
- Medtronic PLC
- Mindray Medical International Limited
- Nihon Kohden Corporation
- OSI Systems, Inc
- Schiller AG
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Holter Ecg Monitoring Market, by Component
Chapter 5: Holter Ecg Monitoring Market, by Lead Type
Chapter 6: Holter Ecg Monitoring Market, by End-user
Chapter 7: Holter Ecg Monitoring Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Holter ECG Monitoring Market by Component, Lead Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global Holter ECG monitoring market size was valued at $320.81 million in 2020, and is projected to reach $696.67 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.Heart-associated disorders is the leading cause of death globally. According to the data of World Health Organization (WHO), the estimated number of 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Thus, combating the problem of increase in incidence of heart diseases has become the focus of the medical community over the years, which demands for continuous monitoring of heart rhythm, thus, attracting several manufacturers to introduce advanced Holter ECG monitors in the market.
The global Holter ECG Monitoring market is expected to experience significant growth during the forecast period, owing to rise in the geriatric population, increase in prevalence of heart stroke, surge in number of patients suffering from hypertension, and upsurge in prevalence of obesity. Moreover, technological advancements and growth in awareness about the feasible use of these devices are other factors that contribute toward the growth of the market. However, lack of trained professionals, inappropriate healthcare infrastructure, and unsteady reimbursement policies are expected to hinder the market growth. Conversely, advanced Holter monitors with enhanced sensitive algorithms for automatic detection of arrhythmias offer lucrative growth opportunities of the Holter ECG Monitoring market.
Coronavirus (COVID-19) was discovered in late December 2019, in the Hubei Province of Wuhan City in China. COVID-19 is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. The application of Holter monitoring devices makes it possible to monitor cardiac rhythm alternations of COVID-19 at the molecular level, and thus, provides essential guidance for the subsequent diagnosis, evaluation, and treatment of COVID-19. It has become the standard of care for patients with implantable sensors, such as pulmonary artery pressure monitors and implantable loop recorders, as well as wearable monitors and external smart-phone enabled devices. The application of devices in the diagnosis and evaluation of the COVID-19 helped the market to gain its position. These devices along with cloud computing tools permit continuous monitoring of all patients with cardiac conditions.
Overall, the impact of COVID-19 on the Holter ECG monitoring market was recorded to be fairly positive. This was attributed to increase in use of Holter ECG monitoring devices in diagnosis, evaluation, and treatment of cardiac conditions. Moreover, cardiac patients undergoing rhythm monitoring therapy are at an elevated risk for the development of more severe disease. The demand for Holter ECG monitoring devices is anticipated to rise as individuals with cardiac care are worried about the COVID-19 effects on them, which also impacts the growth of the market.
The Holter ECG monitoring market is segmented on the basis of component, lead type, end user, and region. On the basis of component, the market is categorized into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. On the basis of lead type, it is classified into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. On the basis of end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCS), and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of component, the global Holter monitoring market is classified into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. The wired Holter monitors segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to technological advancements in the Holter monitoring and increase in adoption of Holter analysis software and systems (with integrated software solutions), which enable the patients or physicians to upload ECG data through home computer or computers at local clinics.
On the basis of lead type, the global Holter ECG monitoring market is divided into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. The patch type single lead Holter monitors segment is expected to register the highest growth rate during the forecast period. However, the 12 lead Holter monitors segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to the fact that in-depth monitoring of heart activity of cardiac patients performed by 12 lead Holter ECGs has increased its utilization over the years.
On the basis of end user, the global Holter ECG monitoring market is divided into hospitals & clinics, home settings & ambulatory surgical centers and others. The hospitals & clinics segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to rise in adoptions of Holter monitoring devices, surge in advantages of Holter monitoring, and increase in numbers of hospitals & clinics.
North America accounted for major share of the global Holter ECG monitoring market share in 2020, and is expected to remain dominant during the forecast period. This is attributed to increase in number of chronic disease patients, surge in demand for Holter ECG monitoring devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced scanner devices, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of Holter ECG monitoring.
Key Findings Of Study
- On the basis of component, the wired Holter monitors segment held majority share in the global market in 2020
- On the basis of lead type, the 12 lead Holter monitors segment held largest market share in 2020, and is expected to remain dominant during the forecast period
- By end user, the hospitals and clinics segment held largest Holter ECG monitoring market share in 2020, and is expected to remain dominant during the forecast period
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 97% during the forecast period
Companies Mentioned
- BPL Medical Technologies
- Fukuda Denshi Co Ltd.
- General Electric Company
- Hill Rom Holdings, Inc.
- Koninklijke Philips N.V.
- Medtronic PLC
- Mindray Medical International Limited
- Nihon Kohden Corporation
- OSI Systems, Inc.
- Schiller AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 320.81 million |
| Forecasted Market Value ( USD | $ 696.67 million |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
