Holter ECG Market Hits US$ 1,017.57 Million by 2028 | Grow CAGR of 8.2%

The global holter ECG market is expected to grow from US$ 757.26 million in 2022 to US$ 1,215.76 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028. The growth of the market is attributed to the cardiovascular diseases (CVDs). However, the lack of skilled professionals leading to inaccurate Holter ECG analysis is hindering the market growth.

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An ECG Holter monitor is a wearable device that helps in tracking the proper functioning of the heart. The device is used to conduct a Holter test, especially on an individual who is susceptible to develop cardiovascular disease. The individual is asked to wear the device for around two to three days to tracked down the heart's activity. The data obtained is then analyzed with the help of analysis software, which helps the doctors suggest an appropriate treatment to the patient.

In the last decade, the world witnessed notable developments in Holter ECG monitors, aiding physicians and patients with new approaches to managing diseases such as atrial arrhythmias, ventricular arrhythmias, and ventricular atrial fibrillation. The growing prevalence of arrhythmia and other cardiovascular diseases (CVDs) is encouraging the introduction of improved diagnostic methods. Holter ECG monitors are gaining significant traction as these are simpler and quicker tools used for detecting arrhythmias. Holter monitoring is non-invasive, safer, and effective for patient monitoring. According to the World Health Organization (WHO), ~30 million people experience a stroke each year. According to the American Heart Association, almost half of all adults in the US have a type of CVD. Furthermore, more than 130 million people, i.e., 45.1%, of the US population are projected to have a type of CVD by 2035.

The European Society of Cardiology reported that patients suffering from atrial fibrillation are at a five-times greater risk of getting a stroke, and 20-30% of total stroke cases in Europe are caused due to atrial fibrillation. As per a study conducted by the European Society of Cardiology in 2016, ~7.6 million people aged 65 and above had atrial fibrillation in the EU. The number is estimated to increase by 89% to reach ~14.4 million by 2060. As per the report "Beyond The Burden: The Impact of Atrial Fibrillation in the Asia Pacific" by Biosense Webster, published in 2019, more than 16 million people in the Asia Pacific suffer from atrial fibrillation, and the number is expected to reach ~72 million by 2050. The report also suggests that the middle-aged and elderly population is at a greater risk of developing this condition.

Most types of CVDs can be prevented through pre-monitoring and pre-diagnosis. Likewise, arrhythmias, i.e., abnormalities in the heart functioning, can be averted with early diagnosis. The demand for arrhythmia monitoring devices is increasing as these devices can help save patients at a high risk of cardiac arrest. This results in the healthcare industry adopting new and innovative devices to ensure enhanced medical care and investing in better healthcare facilities, in turn, boosting demand for monitoring devices such as Holter ECG monitors. To avoid risks associated with CVDs, Holter ECG is widely used by populations who are likely to be exposed to factors that cause CVD. Holter ECG monitor records the heart's activity (ECG) continuously for 24-48 hours, essential for safe diagnosis and therapy control, which is a major factor fueling its demand.

Based on components, the global Holter ECG market is segmented into wired Holter monitors, wireless Holter monitors, and Holter analysis systems and software. In 2020, the wired Holter monitors segment held the largest share of the market. However, the wireless Holter monitors segment is expected to register the highest CAGR in the market during 2021-2028. With the help of wireless Holter monitors, individuals can easily move around independently. Therefore, the adaption of these devices is increasing, which is expected to drive the market during the forecast period.

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Various arrhythmias were reported to patients during the COVID-19 pandemic. This has resulted in further complexity because of COVID-19. Therefore, the demand for portable devices is increasing, which continues to drive the growth of the halter monitor market. Also, cardiac surgeons were overloaded with the emergency surgeries of cardiac patients, management of COVID-19 patients, and implementation of safety guidelines to prevent the spread of the novel coronavirus. COVID-19 pandemic is challenging hospital capacity and healthcare workers. In such a setting, it is imperative to properly select stable COVID-19 patients to be treated at home. Therefore, family physicians and their patients have been empowered with accurate and portable home diagnostic devices, such as electrocardiogram (ECG) devices. Thus, the COVID-19 pandemic has a significant impact on the market.

BPL Medical Technologies; FUKUDA DENSHI; General Electric; Koninklijke Philips N.V.; Nihon Kohden Corporation; OSI Systems, Inc.; SCHILLER Healthcare India Pvt. Ltd.; EB Neuro S.P.A; Hill Rom Holding Inc.; and Viatom Technology Co., Ltd. are among the key companies operating in the Holter ECG market. The market leaders focus on new product launch, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.

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