Holter ECG Market 2022 Business Insights with Key Trend Analysis | Leading Companies GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan)

Holter ECG Market in terms of revenue was estimated to be worth $416 million in 2022 and is poised to reach $558 million by 2027, growing at a CAGR of 6.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. The growing geriatric population, rising prevalence of cardiovascular diseases (CVD), awareness for early and continuous diagnosis, and technological advancements in wearable devices are also supporting this market growth.

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The Holter ECG industry is poised for significant growth in the near future as advancements in technology and increasing awareness about cardiac health drive the demand for portable and continuous ECG monitoring solutions. Holter ECG devices, which record a patient's heart activity over an extended period, offer valuable insights into cardiac health, aiding in the diagnosis and management of various cardiovascular conditions. In the coming years, we can expect the industry to witness advancements such as smaller and more discreet devices, longer recording durations, improved accuracy, and seamless integration with digital platforms for data analysis and interpretation.

Wired Holter ECG segment is expected to account for the largest share in 2021.

Based on product, the Holter ECG market is segmented into wired Holter ECG monitors, wireless Holter ECG monitors, and software. The large share of this segment is due to the wide range of applications in heart activity monitoring and the cost efficiency of these devices.

The 12-lead segment held the largest market share in the Holter ECG market.

Based on lead type, the Holter ECG market is segmented into patch type 1-lead, 3-lead, 6-lead, 12-lead, and other lead types (such as 4-, 5-, and 7-lead Holter ECG monitors, among others). 12-lead ECG devices offer good clarity and precision in interpreting cardiac electrical activity due to the presence of a large number of leads.

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North America dominates the global Holter ECG market

Based on the region segmentation, the Holter ECG market is divided into North America, Europe, Asia Pacific, Latin America, and Middle-East Africa. 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. The Asia Pacific is estimated to be the fastest-growing regional market for Holter ECG products during the forecast period. The high growth in this market can be attributed to the rising prevalence of CVD, which is attributed to the increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking in several Asia Pacific countries.

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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Key Market Players:

Major players in the Holter ECG market include 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).

Recent Developments:

In 2022, 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.

In 2021, 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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