Holter ECG Monitoring Market value set to reach $418.3 Million by 2023 End

According to a new report published by Allied Market Research, titled, Holter ECG Monitoring Market by Component, Lead Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global holter ECG monitoring market was valued at $226.5 million in 2016 and is projected to reach $418.3 million by 2023, growing at a CAGR of 9.1% from 2017 to 2023. The holter ECG monitoring-mounted design segment accounted for half of the total market share in 2016.

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Cardiovascular disease is the leading cause of cardiovascular deaths in 2,200 men and women worldwide every year, and it has so far outpaced all forms of cancer-related deaths in the United States alone. Therefore, solving the problem of increased incidence of heart disease has long been the focus of the medical community. This requires continuous monitoring of the heart rhythm, so many manufacturers introduce high-end holter monitors to the market.

Pocket-sized holter monitors have gained tremendous traction over the past few years, contributing to market growth. Clinicians around the world are known to face the biggest challenge of reducing cardiovascular mortality, one of which is to identify patients at highest risk for sudden cardiac death. Patients susceptible to sudden cardiac death should be able to start with appropriate remedies and preventive measures as early as possible. This is where holter monitoring plays an important role. It records day and night ECG values ​​essential for safety diagnosis and treatment management.

Based on this component, the world market is classified as wired holter monitor, wireless holter monitor and holter analysis system and software. Holter analysis systems and software have seen tremendous technological advances in recent years, contributing to the highest growth rates of this sector in the global market during the forecast period. Simplifying the management of data retrieved from Holter ECG monitors is essential for the diagnosis of cardiovascular disease. This facilitates the growth of holter analysis software and systems (including integrated software solutions) that enable patients or physicians to upload ECG data. In addition, collected ECG data is automatically analyzed for cardiac conditions.

Based on lead type, the market is divided into patch type single lead holter monitors, 3 lead holter monitors, 6 lead holter monitors, 12 lead holter monitors, and other lead types. Patch type single lead holter monitors have registered the fastest growth rate during the forecast period. Whereas, 12 lead holter monitors have dominated the global market in 2016 and is anticipated to continue this trend throughout the forecast period. In depth monitoring of heart activity of cardiac patients performed by 12 lead holter ECGs has increased its utilization over the years.

Key Findings of the Holter ECG Monitoring Market :

• The wired holter monitors segment has dominated the global market in 2016 and is expected to maintain this dominance throughout the forecast period.

• 6 lead holter monitors have garnered second largest revenue among the lead types in 2016 and is expected to maintain this trend throughout the forecast period.

• North America dominated the global holter ECG monitoring market, accounting for maximum share in 2016, and is expected to retain the same trend during the forecast period.

• Home settings & ambulatory surgical centers (ASCs) is estimated to exhibit the highest CAGR of 9.3% from 2017 to 2023 among the end users in the global market.

Asia-Pacific region is expected to witness the highest growth rate throughout the forecast period. The region offers lucrative opportunities for players that operate in the holter ECG monitoring market, due to its high population base, increase in disposable incomes, and improvement in patient awareness towards preventive care of cardiovascular diseases. In addition, countries such as India and China serve as the major contributors, as the holter ECG monitoring market is continuously evolving in these countries.

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The major companies profiled in this report include GE Healthcare (General Electric Company), Royal Philips Healthcare (Koninklijke Philips N.V.), Nihon Kohden Corporation, Medtronic Plc, Fukuda Denshi Co Ltd., Hill-Rom Company, Inc. (Welch Allyn), Schiller AG, Mindray Medical International Limited, and BPL Medical Technologies. Other prominent players in the value chain include Compumed Inc., Cardionet Inc., Bionet, Cardiac Science, Midmark Corporation, Amedtec Medizintechnik Aue GmbH, Opto Circuits Limited, OSI Systems, and Spacelabs Healthcare Inc.

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