The global holter monitoring systems market has received a substantial boost in demand due to rising cases of cardiovascular diseases among the global population. The average age of the occurrence of cardiovascular diseases has been lowering in recent years and the demand for the effective treatment of cardiovascular diseases has increased since. The surge in consumer awareness about the imminent issue of cardiovascular diseases has led to an increase in precautionary diagnoses. This has resulted in the considerable rise in demand for holter monitoring systems. The global market is expected to expand at a steady 4.5% CAGR for the forecast period of 2016 to 2026.
Increased Consumption of Alcohol and Nicotine Driving Global Holter Monitoring Systems Market
Busy and stressful lifestyles of people around the world have resulted in various health disorders. The consumption of alcohol and nicotine as a recreational activity has also surged, resulting in a greater risk of cardiovascular diseases. The global holter monitoring systems market has hence been witnessing heavy demand with the incidence of heart ailments on the rise.
Holter monitoring systems allow doctors to monitor the heart activity of a patient for longer durations. Moreover, being compact, the device can be worn by the patient and continue with routine activities at the same time. The data pertaining to the patient’s vitals can be collected under real-life circumstances, unlike in hospitals or clinics where the conditions are controlled and simulated. This has resulted in the increased demand for holter monitoring systems.
Holter Monitoring Devices Segment Growing Fastest
The global holter monitoring systems market is segmented by product type into devices, software, and event monitoring devices. Among these, the holter monitoring devices segment is estimated to rise at the fastest CAGR for the forecast period. The 2016 estimation for the holter monitoring device segment stands at US$512 mn.
The end user segmentation of the global holter monitoring systems market includes diagnostic centers, ambulatory surgical centers, clinics, and hospitals. Although the demand from diagnostic centers and clinics is on the rise, the hospitals segment continues to dominate the global holter monitoring systems market. This segment is expected to rise at a healthy 4.8% CAGR for the forecast period.
North America is the leading regional segment in the global holter monitoring systems market with Asia Pacific in second place. The regions are projected to account for a 34.9% and 27.3% share respectively in terms of revenue for 2016. North America has been battling with issues of cardiovascular diseases and obesity since a long time and this has served as a massive opportunity for the holter monitoring devices market. Asia Pacific accounts for the majority of the world population and with multiple emerging and rapidly developing countries, the expenditure on healthcare has increased. This has had a tremendous impact on the demand for holter monitoring systems in Asia Pacific.
Key players in the global holter monitoring systems market include Nihon Kohden Corporation, Welch Allyn (Hill-rom Company, Inc.), Koninklijke Philips N.V, GE Healthcare, Schiller AG, Mortara Instrument, Inc., Fukuda Denshi Co. Ltd., and Spacelabs Healthcare, Inc.
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