Holter ECG Market Size - Product Type (Continuous Monitors, Intermittent Monitors), By Modality (Wired Holter Monitors {3 Lead Holter Monitors, 12 Lead Holter Monitors}, Wireless Holter Monitors), By End-use, & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHolter ECG Market Size - Product Type (Continuous Monitors, Intermittent Monitors), By Modality (Wired Holter Monitors {3 Lead Holter Monitors, 12 Lead Holter Monitors}, Wireless Holter Monitors), By End-use, & Forecast, 2023 – 2032
Holter ECG Market Size
Holter ECG market size was valued at around USD 1.3 billion in 2022 and is projected to register over 10.7% CAGR between 2023 to 2032. This is primarily attributed to several variables comprising the growing prevalence of cardiac ailments and the rise in demand for Holter monitors.
In developing nations, the prevalence of cardiac diseases is highest due to socioeconomic status and people living a sedentary lifestyle. This increasing prevalence of heart disease is anticipated to drive market size. Cardiovascular disease is the leading cause of death globally that in turn leads to the increasing demand for wearable cardiac monitoring devices in hospitals and ambulatory surgical centers. Additionally, the severe health concerns associated with cardiovascular diseases are anticipated to stimulate the demand for testing.
A Holter ECG monitor is a small, wearable device that records the heart's rhythm. It's used to detect or determine the risk of irregular heartbeats (arrhythmias). It records the electrical activity of the heart continuously over 24 hours or longer remotely. Electrodes (small, plastic patches that stick to the skin) are placed at certain points on the chest and abdomen. The electrodes are connected to an ECG machine by wires. Then, the electrical activity of the heart can be measured, recorded, and printed.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Holter ECG Market Size in 2022 | USD 1.3 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 10.7% |
| 2032 Value Projection | USD 3.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 433 |
| Segments covered | Product type, Modality, End-use and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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However, the stringent regulatory framework related to Holter ECG devices may hamper the market revenue. The U.S. FDA has rigid regulatory compliances and complex approval procedures that may obstruct the market progress. The majority of Holter ECG monitors need a premarket notification, or 510(k) process prior to their commercialization in the market. Such stringent product regulations may lead to penalties and loss of market access in a global marketplace.
COVID-19 Impact
The COVID-19 outbreak sent shockwaves through the world, creating a massive health crisis. It became clear that this virus was having a significant impact on people's hearts. Research showed that many COVID-19 patients were also experiencing heart problems. This discovery highlighted the need for devices that could monitor heart health in real-time, especially in places with limited resources. Holter ECG devices, which are portable heart monitors, became an essential tool in the fight against COVID-19. These devices are compact, easy to use, and provide accurate results. They can record the electrical activity of the heart continuously, allowing doctors to keep a close eye on patients' heart health and intervene quickly if necessary. In summary, the COVID-19 pandemic has increased the demand for wearable heart monitors like Holter ECGs. These devices play a crucial role in detecting and managing heart problems associated with the virus, especially in low-resource settings.
Further, the World Health Organization (WHO) was functioning in association with business players, government bodies, and Pandemic Supply Chain Network among others to boost the production of such Electrocardiograph devices to meet increasing worldwide demand for critically affected and at-risk nations. Thus, this global pandemic has boosted the production and direct sales of Holter ECG products across the globe.
Holter ECG Market Trends
Heart conditions are on the rise, and it's creating a big demand for ways to check up on the heart. In fact, according to the World Health Organization, almost 18 million people passed away from heart-related issues in 2021. Most of these deaths were from strokes or heart attacks. Rapid heart rates, like tachycardia, are linked to these diseases. So as more and more people have these fast heart rate issues, including atrial fibrillation, ventricular tachycardia, supraventricular tachycardia, and ventricular fibrillation, the need for ways to diagnose and keep an eye on the heart grows.
Holter ECG Market Analysis
When it comes to Holter ECG monitors, there are two main typesthose that track your heart rhythm all the time (continuous) and those that do it only for certain periods (intermittent). In the world of Holter ECGs, the continuous monitors are the rock stars, with a whopping value of over USD 846 million in 2022. Why are they so popular? It's all about the tech upgrades and people realizing how great it is to have a little heart monitor buddy with you at all times. The best part about continuous Holter ECG monitors is that they're like tiny, portable spies that can hang out on your body for a while without interrupting your daily grind. Doctors love recommending them because they can keep an eye on your heart's beat while you're just going about your business, whether it's hanging out at home or giving your all at the hospital.
Imagine a device that can continuously track your heart's activity and help doctors diagnose heart problems accurately. That's what a Holter ECG monitor does! Research shows that this handy device can spot issues like atrial fibrillation and ventricular tachycardia, which can lead to serious heart problems. And guess what? It's totally non-invasive – no needles or surgery needed. But here's the coolest partHolter ECG monitors are like little data collectors. They record every beat of your heart, which means they can detect even the tiniest electrical hiccups that might be causing trouble. Thanks to these monitors, we're getting tons of valuable data that will help us better understand heart disease. By combining that data with super-smart technology like artificial intelligence, we'll be able to catch problems earlier and save lives. So, get ready for Holter ECG monitors to become even more powerful in the future!
Based on modality, the Holter ECG market is segmented as wired Holter monitors and wireless Holter monitors. The wired Holter monitors segment surpassed USD 1 billion in 2022. This is owing to the growing technological advancements in wired Holter monitors, increase in R&D activities, and surging adoption of minimally invasive devices among others. The new generations Holter ECG devices are allowing the direct transmission of remote cardiac monitoring data.
Market players are focusing on the designing of sleek & efficient recorder for patient comfort & for streamlined workflow as per the individual patient requirements. Improving set-up features comprising simple navigation buttons, large on-board display, automatic power on self-test, and lightweight design is assisting in faster operation along with enhanced comfort. Intelligent Holter monitors are helping to detect irregular heartbeat that are difficult to identify at regular check-ups. AI-ECG analysis is transforming the cardiac monitoring area through fragmenting to analysing data and generating reports.
When it comes to Holter ECGs, hospitals are expected to dominate the market by 2032, with a whopping revenue projection of over $2 billion. This surge is largely driven by the skyrocketing popularity of advanced wearable heart monitors in hospitals. These devices offer fast, dependable results, making patients flock to these healthcare facilities. Hospitals also boast a wide range of Holter ECG recorders, which enable constant monitoring with unmatched precision. This has made hospitals the preferred choice for patients seeking Holter ECGs. The growing number of admissions for heart conditions, increased disease screening, and the availability of highly skilled healthcare professionals are further fueling the growth of this segment.
Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective precise cardiac monitoring coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals.
The U.S. dominated the North America Holter ECG market with a significant market share in 2022 and is anticipated to expand at a considerable pace to reach USD 1,480 million by 2032. This majority market share is attributed to several factors such as the presence of major industry players, an upsurge in the demand for cardiovascular continuous monitoring services, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others. As per the American Heart Association data 2022, the age adjusted death-rate attributable to cardiovascular diseases was 224.4 per 100,000 population.
Moreover, the U.S. is one of the leading nations in terms of heart care initiatives and the government has employed several guidelines to bolster heart comprising the Million Hearts initiative. These initiatives adopted by the public as well as private organizations would further promote the demand for Holter ECG to maintain precise heart health and physical & mental wellbeing among cardiac patients.
Holter ECG Market Share
Some of the major market players operating in the Holter ECG market are
- AliveCor Inc
- Bardy Diagnostics Inc
- BPL Medical Technologies
- Cardiac Insight Inc
- Fukuda Denshi Co Ltd
- GE Healthcare
Major market players are adopting strategic formulations such as forward integration, new product development, geographical expansion, and research collaborations to garner maximum industry share and promote company growth.
Holter ECG Industry News
- In November 2021, Philips expanded its cardiac diagnostics and monitoring portfolio with the acquisition of Cardiologs. This included real-time patient monitoring, therapeutic devices, telehealth and informatics for the hospital, as well as ambulatory cardiac diagnostics and monitoring solutions, that were added through the recent acquisition of BioTelemetry, Inc. As a result, the acquisition of Cardiologs promoted Philips’ existing portfolio of cardiac care solutions.
- In May 2021, iRhythm Technologies announced the U.S. FDA approval for its new Zio monitor along with updated artificial intelligence (AI) capabilities. This devices is designed to significantly improve patient comfort while the advancements to its AI capabilities further improve rhythm and beat diagnostic accuracy. This strategic move assisted the company in bolstering its product portfolio and offered a competitive edge.
Holter ECG market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) and volume (units) from 2018 to 2032 for the following segments
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By Product Type, 2018 - 2032 (USD Million & Units)
- Continuous Monitors
- Intermittent Monitors
By Modality, 2018 - 2032 (USD Million)
- Wired Holter Monitors
- 3 Lead Holter Monitors
- 12 Lead Holter Monitors
- Others
- Wireless Holter Monitors
By End-use, 2018 - 2032 (USD Million)
- Hospitals
- Ambulatory Surgical Centers
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Sweden
- The Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Turkey
- Iran
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