New Study: Holter ECG Monitoring Market Value Expected to Show $418.3 Million by 2023

"As the number of patients suffering from cardiovascular disease continues to increase, there is a growing demand for Holter ECG monitors because the EKG monitor can continuously monitor cardiac activity for 72 hours. In addition, the latest developments in Holter analysis software and systems have consolidated Holter Monitors on a massive scale to manage patients suffering from heart disease."

According to a new report 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 death worldwide, with more than 2,200 men and women worldwide suffering from cardiovascular disease every year and surpassing all cancer-related deaths in the United States. Alone. Therefore, solving the problem of increasing the incidence of heart disease has been a medical focus for many years. This requires constant monitoring of the heart rhythm, so many manufacturers have to introduce advanced holter monitors in 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 most challenging challenges to reducing cardiovascular disease mortality. Patients susceptible to sudden cardiac death should be identified as soon as possible through appropriate remedies and preventive measures. This is where hall monitoring plays a pivotal role. It records day and night ECG values ​​essential for safety diagnosis and treatment management.

Based on the component the global market is classified into wired holter monitors, wireless holter monitors, and holter analysis systems & software. Holter analysis systems & software have witnessed immense technological advancements in the recent years, which contributes to the highest growth rate of this segment in the global market during the forecast period. Streamlining the management of data retrieved from holter ECG monitors is essential for better diagnosis of cardiovascular diseases. This fuels the growth for holter analysis software and systems (with integrated software solutions) that enables the patients or physicians to upload ECG data. Further, the collected ECG data is automatically analyzed for heart 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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