As per the latest report by IMARC Group, titled “Cardiac Holter Monitor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global cardiac Holter monitor market size reached US$ 349.2 Million in 2018. A cardiac Holter monitor is a battery-operated portable electrocardiography (ECG) device that records the heart rhythm continuously for around 24 to 48 hours. It consists of a monitor, software and electrodes, which aid in interpreting the recorded data, determining if the heart is getting adequate oxygen and diagnosing conditions concerning irregular cardiac rhythms, such as tachycardia, arrhythmia and atrial fibrillation. These advantages of Holter monitors, along with the increasing cases of cardiac issues, are driving their demand worldwide.
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Global Cardiac Holter Monitor Market Trends:
Owing to rapid urbanization and hectic work schedules, there is a rise in the consumption of ready-to-eat (RTE) food products, which are high in sodium. This is resulting in the increasing prevalence of cardiac blockages and arrests, thereby positively influencing the demand for technologically advanced devices that assist in diagnosing these problems accurately. In line with this, governments of various countries are investing in social campaigns to generate awareness among individuals about cardiac disorders, their prevention and treatment. Moreover, the increasing preference for minimally invasive diagnostic tools and preventive healthcare devices is impelling the growth of the cardiac Holter monitor market. Further, manufacturers are introducing innovative and miniaturized products that increase the convenience of users. For instance, iRhythm Technologies, a US-based digital healthcare company, has recently launched “Zio,” a device that includes a cardiac Holter monitor in a small pedometer-sized patch. Looking forward, the market value is projected to reach US$ 503.8 Million by 2024, expanding at a CAGR of 6.3% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Product Type:
1. 1-Channel
2. 2-Channel
3. 3-Channel
4. 12-Channel
5. Others
Based on the product type, the market has been classified into 1-channel, 2-channel, 3-channel, 12-channel and others. At present, 3-channel cardiac Holter monitors represent the most preferred product across the globe.
Market Breakup by Component:
1. Holter Monitoring Devices
2. Event Monitoring Devices
3. Holter Analysis System and Software
On the basis of the component, the market has been segmented into Holter monitoring devices, event monitoring devices, and Holter analysis system and software. Holter monitoring devices currently account for the majority of the total market share.
Market Breakup by End User:
1. Hospitals and Clinics
2. Ambulatory Surgical Centers (ASCs)
3. Homecare
4. Others
The market has been analyzed on the basis of the end user into hospitals and clinics, ambulatory surgical centers (ASCs), homecare, and others. Amongst these, hospitals and clinics exhibit a clear dominance in the market.
Market Breakup by Region:
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Region-wise, North America represents the largest market for cardiac Holter monitors around the world. Other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa.
Competitive Landscape:
The competitive landscape of the market has been examined with some of the key players being The ScottCare Corporation, GE Healthcare, Spacelabs Healthcare, Fukuda Denshi Co., Ltd., Nasiff Associates, Inc., Koninklijke Philips N.V., Biomedical Instruments Co., Ltd., Schiller AG, BTL Group, LifeWatch AG, Welch Allyn, Nihon Kohden Corporation, Medtronic Plc, Hill-Rom Company, Inc., Mindray Medical International Limited and BPL Medical Technologies.
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