Holter ECG Market 2027 Outlook: A $558 Million Market Beckons | MarketsandMarkets

The global Holter ECG market is projected to reach USD 558 million by 2027 from USD 416 million in 2022, at a CAGR of 6.1% during the forecast period. Factors such as the increasing number of patients suffering from cardiovascular disease (CVD) and the need for early diagnosis are driving the growth of this market.

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Holter monitoring involves the continuous recording of an individual's heart activity over a period, typically spanning 24 to 48 hours. This diagnostic method is employed for the detection and monitoring of various heart-related conditions, including arrhythmias, heart palpitations, and other cardiac abnormalities.

Key points and trends associated with the Holter ECG market are as follows:

Technological Advancements: The market for Holter ECG has seen continuous technological innovation. This includes the development of compact, wearable devices, enhanced data analysis algorithms, and the incorporation of wireless connectivity for real-time data transmission.

Remote Monitoring: The COVID-19 pandemic expedited the adoption of remote monitoring solutions, including remote Holter ECG monitoring. This approach enables healthcare providers to remotely monitor patients' heart activity, eliminating the need for in-person visits and enhancing patient convenience while reducing healthcare costs.

Increasing Awareness: Growing awareness regarding the significance of early detection and continuous monitoring of heart conditions has contributed to the expansion of the Holter ECG market.

Regulatory Environment: Regulatory bodies like the U.S. Food and Drug Administration (FDA) have established specific regulations governing the approval and utilization of Holter monitoring devices to ensure patient safety and the accuracy of collected data.

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Key Market Players

The Holter ECG market is highly consolidated and is dominated by various players. The major players operating in this market are GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), and Hill-Rom Holdings, Inc. (Baxter International Inc.) (US).

GE HEALTHCARE (US)
GE HealthCare accounted for a major share of the Holter ECG market in 2021. GE is a major player in this market due to its vast product portfolio. GE has a global distribution partner network in more than 140 countries and provides expertise and services to customers in nearly every corner of the globe. The company adopts inorganic growth strategies to increase its market share.

KONINKLIJKE PHILIPS N.V. (NETHERLANDS)
Koninklijke Philips N.V. focuses on innovation to maintain its market share and significantly invests in R&D activities for this purpose. This investment is used to develop new and innovative products. The company's position in this market can also be attributed to its strong sales and distribution network across the globe, enabling it to market its products in various countries effectively.

NIHON KOHDEN CORPORATION (JAPAN)
Nihon Kohden focuses on expanding its geographic presence by acquiring major companies. The company adopts expansions and product launches as a dominant strategy to increase its growth in Japan as well as international markets.

North America dominates the global Holter ECG market

North America holds the largest share and expects to dominate the Holter ECG market. The large share of the North American market can be attributed to the rising incidence of CVD, increasing healthcare spending, and the increasing presence of technologically advanced devices in the region.

Holter ECG Market Dynamics:

Drivers:
• Rising geriatric population
• Increasing prevalence of cardiovascular disease
• Technological advancements in wireless monitoring and wearable devices
• Increasing investments, funds, and grants for research on cardiac monitoring

Restraints:
• Frequent product recalls

Opportunities:
• Untapped emerging markets

Challenges:
• Stringent regulatory requirements delaying approval of cardiac devices
• Dearth of skilled professionals with expertise in handling cardiac monitoring devices

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Recent Developments:
• Royal Philips (Netherlands) partnered with Prisma Health (US) to help the health system achieve enterprise interoperability, standardize patient monitoring, and drive innovation in enterprise imaging solutions to enhance patient care and improve clinical performance.

• Royal Philips (Netherlands) acquired BioTelemetry, Inc. & Capsule Technologie (US) to strengthen Philips' cardiac care portfolio, cardiac diagnostics, and monitoring services, which are included in the Connected Care segment.

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