Holter Monitoring Systems Market
Global Market Study on Holter Monitoring Systems: Development of Integrated Software Providing Ad-on Services Augmenting Market Growth
Holter Monitoring Systems Market Segmented By Holter monitoring devices, Event monitoring devices, Holter monitoring software Product in Hospitals, Diagnostic centers, Clinics, Ambulatory surgical centers
Recently published holter monitoring systems industry analysis by Persistence Market Research projects market value to reach US$ 1.5 Bn by the end of 2031, currently at US$ 1 Bn in 2021. The market is anticipated to expand at a steady CAGR of around 4.5% over the decade. The North American region accounts for nearly 1/3 global market share, according to this industry survey.
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- GE Healthcare
- Koninklijke Philips N.V
- Welch Allyn (Hill-rom Company, Inc.)
- Schiller AG
- Fukuda Denshi Co. Ltd.
- Nihon Kohden Corporation, Mortara Instrument, Inc.
- Spacelabs Healthcare, Inc.
Key Points Covered in Holter Monitoring Systems Market Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on holter monitoring systems and how to navigate
- Recommendation on key winning strategies
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Developments in Holter Monitoring Systems Space
Increasing instances of severe cardiovascular conditions have fueled demand for various cardiac activity monitoring systems. As patient monitoring gains traction, holter monitoring sees a great rise in demand due to increased risk of cardiovascular diseases.
- VitalConnect recently launched a new cardiac monitoring patch for patients who require extended holter monitoring, called VitalPatch RTM. The patch is capable of monitoring 21 different cardiac arrhythmias by using its artificial intelligence electrocardiogram sensor. The sensor actively monitors aspects such as heart rate, respiratory rate and activity, along with heart rate variability.
- Hillrom recently announced plans to acquire Bardy Diagnostics, and has announced US$ 375 Mn in cash and also potential future payments based on achievements of commercial milestones. With this new acquisition, the company aims to expand its cardiology devices portfolio.
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Holter monitor is a portable ECG device that can be worn by the patient to record heart activity continuously for a certain period. Other ECG devices record heart activity only for a certain period. However, a patient may suffer from irregular heartbeat at any point in time, thereby requiring continuous monitoring for a longer period. Holter ECGs are capable of recording data for a longer period, and transferring the same to doctors for analysis.
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Drivers for Holter Monitoring Systems
Cardiovascular Diseases (CVD) has become a major health concern globally. This is resulting in the healthcare industry adopting new and innovative devices to ensure enhanced medical care, and also investing in better healthcare facilities. This is turn is boosting demand for better patient monitoring devices.
To avoid risks associated with CVD, monitoring devices are widely used by individuals who are likely to be exposed to factors that cause CVD. Holter monitoring systems are non–invasive and are proven safe and effective for patient monitoring, which is a major factor fueling demand for such devices.
However, healthcare facilities in emerging and underdeveloped countries lack trained staff and appropriate health care infrastructure, thereby affecting adoption of Holter ECG devices. Moreover, a presence of several small players is impacting growth opportunities for global players to a certain extent.
Key players in the market have well-established distribution channels; whereas small players create barriers for small players entering the holter monitoring systems market.
How is the Market Segmented?
By product type, the global holter monitoring systems market is segmented into holter monitoring devices, event monitoring devices, and holter monitoring software. Holter monitoring devices segment is expected to remain dominant over the forecast period. Software segment is expected to witness sluggish growth over the forecast period due to technological advancements in holter monitoring devices.
On the basis of an end user, the global holter monitoring systems market is segmented into hospitals, diagnostic centers, clinics, and ambulatory surgical centers. Hospitals segment is expected to create robust growth opportunities owing to easy availability.
By region, the global holter monitoring systems market is segmented into North America, Latin America, Europe, AsiaPacific, and the Middle East & Africa The high adoption rate of new technology is expected to boost the growth in the U.S. for holter monitoring devices market.
The U.S. is expected to remain the dominant market for holter monitoring systems over the forecast period. The market in APAC region is expected to witness the highest growth due to a large population suffering from cardiovascular diseases and presence of several local manufacturers providing holter monitoring systems at competitive prices.
Holter Monitoring Systems Market Segmentation