Cardiac Holter Monitor Market Size Worth USD 545.9 Billion, Globally, by 2028 at 5.9% CAGR | Global Cardiac Holter Monitor Industry Trends, Share, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, June 10, 2022 /PRNewswire/ -- As per the Zion Market Research study, The global cardiac Holter monitor market achieved revenue growth of about USD 381.6 billion in 2021 and is projected to reach around USD 545.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report evaluates significant parameters of the cardiac Holter monitor market such as drivers, restraints/challenges, and the effect they have on the Holter monitoring devices during the forecasted period. In addition, the report explores emerging opportunities in the cardiac Holter monitor market.
Key Industry Insights & Findings of the Cardiac Holter Monitor Market Reports:
- As per the analysis shared by our research analyst, the Cardiac Holter Monitor Market is expected to grow annually at a CAGR of around 5.9 % (2022-2028).
- Through the primary research, it was established that the Cognitive and Memory Enhancer Drugs Market was valued at approximately USD 381.6 Billion in 2021 and is projected to reach roughly USD 545.9 Billion by 2028.
- North America accounted for the biggest share in the global cardiac Holter monitor market in 2021, holding nearly 35 percent of the share in the global market.
- North America is likely to maintain its dominance in the cardiac Holter monitor market, owing to investments made by major companies in the medical device sector and a steady increase in the incidence of cardiovascular illnesses in the region.
- The rapid expansion of the market in the Asia Pacific during the projected period is due to a higher incidence of cardiac arrhythmia and atrial fibrillation, as well as several WHO programs for the control of cardiovascular illnesses.
Zion Market Research published the latest report titled "Cardiac Holter Monitor Market By Type (1-Channel, 2-Channel, 3-Channel, 12-Channel, And Others), By Component (Holter Monitoring Devices, Holter Analysis System & Software, And Event Monitoring Devices), By End-Use (Hospitals & Clinics, Ambulatory Surgical Centers (ASCs), Homecare, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028" into their research database.
Cardiac Holter Monitor Market: Overview
A Holter monitor is a tiny, wearable device that measures the beat of the heart. It's used to find out if a person is in danger of having an irregular heartbeat (arrhythmias). If a standard electrocardiogram (ECG or EKG) does not offer adequate information regarding the heart's state, a Holter monitor test may be performed. If the irregular heartbeats are intermittent, an event recorder, and a longer-term monitor, may be required. Cardiac Holter tracking is non-invasive and easy to perform the test. Also, it is painless. This device along with the sensors and cables can be hidden underneath clothes.
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Industry Dynamics:
Cardiac Holter Monitor Market: Growth Drivers
- A shift in lifestyle and an increase in chronic diseases may boost the market growth.
Globally, a rise in the occurrence of heart blockages and arrests has been seen as a result of rapid urbanization, stressful work schedules, and increased intake of fast food. This has boosted demand for technologically improved gadgets that aid in the correct diagnosis of health concerns. Furthermore, governments in a number of nations are sponsoring efforts to raise public knowledge of various cardiovascular illnesses, their prevention, and treatment. Furthermore, a substantial movement among individuals toward minimally invasive diagnostic devices and preventative healthcare technologies is bolstering the global cardiac Holter monitor market growth. Manufacturers are responding by creating new and compact goods that provide more convenience.
Cardiac Holter Monitor Market: Restraints
- Stringent regulation may halt the market growth over the forecast period.
Holter monitoring devices are subject to strict regulatory criteria, and insurance coverage policies for the devices are lacking in numerous countries, which is projected to stymie market expansion. The typical compensation for a Holter monitoring study is expected to be less than USD 100, which is significantly less than the remuneration for mobile cardiac telemetry. Furthermore, in emerging nations, the lack of knowledge necessary for data processing is impeding the growth of the Holter monitoring systems market.
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Global Cardiac Holter Monitor Market: Opportunities
- Increasing investments in wireless Holter monitors are expected to offer better growth opportunities to the market.
Owing to the increase in popularity of wireless devices many market players have increased their investments in developing wireless cardiac Holter monitors. Wireless Holter monitor offers ease of operation and accuracy; also many vendors are expanding their reach to boost the market growth. Furthermore, the growing emphasis on developing expertise in the use of Holter monitoring systems is likely to provide attractive growth prospects for market participants. For example, NorthEast Monitoring, Inc., a firm located in the United States, provides Holter technology training as part of its ambulatory cardiac software and hardware solutions.
Global Cardiac Holter Monitor Market: Challenges
- Low awareness about the advantage of a cardiac Holter monitor in developing countries poses a major challenge for the expansion of the market.
The global cardiac Holter monitor market is expected to be hampered due to low awareness about the benefits of Holter monitoring devices. This is mainly due to more emphasis on traditional methods of cardiac monitoring systems, the low spending power of the patient, and the limited presence of vendors. Furthermore, a dearth of knowledge about the use of cardia Holter monitoring devices also contributes to the slow growth of the market.
Global Cardiac Holter Monitor Market: Segmentation
- The global cardiac Holter monitor market is categorized into type, component, end-user, and region.
Based on type, the cardiac Holter monitor market is categorized into 1-channel, 2-channel, 3-channel, 12-channel, and others. The component segment of the market is bifurcated into Holter monitoring devices, Holter analysis systems & software, and event monitoring devices. The end-use segment comprised hospitals & clinics, ambulatory surgical centers (ASCs), homecare, and others.
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List of Key Players in Cardiac Holter Monitor Market:
- GE Healthcare
- Koninklijke Philips N.V.
- FUKUDA DENSHI
- Spacelabs Healthcare
- Nasiff Associates Inc.
- Welch Allyn
- Schiller
- Biomedical Instruments Co.Ltd.
- BTL
- LifeWatch AG
- The ScottCare Corporation
Key questions answered in this report:
- What are the growth rate forecast and market size for Cardiac Holter Monitor Market?
- What are the key driving factors propelling the Cardiac Holter Monitor Market forward?
- What are the most important companies in the Cardiac Holter Monitor Market Industry?
- What segments does the Cardiac Holter Monitor Market cover?
- How can I receive a free copy of the Cardiac Holter Monitor Market sample report and company profiles?
Report Scope:
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Recent Developments:
- November 2021, Philips, a leading company in health technology, revealed the acquisition of Cardiologs, a medical technology business based in France that focuses on leveraging cloud technologies and artificial intelligence to transform cardiac diagnostics.
- April 2022, Medtronic announced the launch of artificial intelligence algorithms for cardiac monitoring in Europe.
Regional Dominance:
- North America to dominate the global market over the forecast period.
North America accounted for the biggest share in the global cardiac Holter monitor market in 2021, holding nearly 35 percent of the share in the global market. This is primarily due to rising patient desire for less invasive diagnostic techniques and greater government support for cardiovascular problem treatments. North America is likely to maintain its dominance in the cardiac Holter monitor market, owing to investments made by major companies in the medical device sector and a steady increase in the incidence of cardiovascular illnesses in the region. During the projected period of the study, Asia Pacific is expected to be the fastest expanding segment, with the highest CAGR. The rapid expansion of the market in Asia Pacific during the projected period is due to a higher incidence of cardiac arrhythmia and atrial fibrillation, as well as several WHO programs for the control of cardiovascular illnesses.
Global Cardiac Holter Monitor Market is segmented as follows:
Cardiac Holter Monitor Market: By Type Outlook (2022-2028)
- 1-channel
- 2-channel
- 3-channel
- 12-channel
- others
Cardiac Holter Monitor Market: By Component Outlook (2022-2028)
- Holter Monitoring Devices
- Holter Analysis System and Software
- Event Monitoring Devices
Cardiac Holter Monitor Market: By End User Outlook (2022-2028)
- Hospitals and Clinics
- Ambulatory Surgical Centers (ASCs)
- Homecare
- Others
Cardiac Holter Monitor Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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