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Holter Monitor Market 2024: Industry Insights, Trends, and Growth Forecast
Holter Monitor Market 2024
According to The Business Research Company's, The holter monitor market size has grown strongly in recent years. It will grow from $0.93 billion in 2023 to $1.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to the emergence of remote patient monitoring solutions, increasing adoption in the elderly population, rising healthcare expenditure globally, evolving guidelines favoring continuous cardiac monitoring, and a growing focus on early detection of cardiac abnormalities.
The holter monitor market size is expected to see strong growth in the next few years. It will grow to $1.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to the expansion of telemedicine and remote healthcare, the aging population, increased prevalence of cardiovascular diseases, advancements in data analytics and artificial intelligence, and rising demand for personalized medicine and preventive healthcare. Major trends in the forecast period include increased adoption of wireless and patch-style monitors, growth of ambulatory ECG monitoring services, expansion of home-based cardiac monitoring programs, development of compact and user-friendly devices, and integration of telemedicine platforms for remote cardiac care.
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Market Drivers and Trends:
The rising incidence of cardiovascular diseases is expected to propel the holter monitor market going forward. Cardiovascular disease refers to conditions that affect the heart or blood vessels, often leading to complications such as heart attacks or strokes. The incidence of cardiovascular disease is due to sedentary lifestyles, unhealthy dietary habits, rising obesity rates, and an aging population. Holter monitors are utilized in cardiovascular diseases for continuous monitoring of heart rhythms, aiding in diagnosing and managing conditions such as arrhythmias and ischemic events. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, the number of people who died from heart disease in the US increased from 690,882 in 2020 to 695,000 in 2021. Therefore, the rising incidence of cardiovascular diseases is driving the growth of the holter monitor market.
Major companies operating in the holter monitor market are focused on developing products with advanced technology that capture high-quality ECG recording. High-quality ECG (electrocardiogram) recording refers to the process of capturing accurate and reliable electrical signals of the heart, which are essential for diagnosing various cardiac conditions. For instance, in November 2023, Norav Medical, a Germany-based provider of innovative medical devices, launched the NR-314P Holter device. This innovative Holter device offers up to 14 days of continuous ECG recording in a lightweight 41g design. This compact device features 3-lead ECG technology, wireless connectivity, and seamless EHR/HIS systems integration via HL7 and DICOM. It supports uninterrupted daily activities with its rechargeable battery and water-resistant design. The NR-314P enhances patient care with advanced analysis capabilities. Additionally, it promotes user adherence to long-term monitoring with its water-resistant, lightweight design and rechargeable lithium polymer battery for uninterrupted ECG recording during everyday activities.
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Major Key Players of the Market:
Koninklijke Philips N.V., GE HealthCare Technologies, Baxter Laboratories Inc, Lepu Medical Technology(Beijing)Co Ltd, Fukuda Denshi Co Ltd, Bittium Corporation, BTL Corporate, iRhythm Technologies Inc., Schiller AG, Edan Instruments Inc, Contec Medical Systems Co Ltd, BPL Medical Technologies, ScottCare Corporation, EB Neuro S.p.A, Advanced Instruments Inc., Custo Med GmBH, ACS Diagnostics GmbH, Biotricity Inc, Nasiff Associates Inc, Cortrium ApS, Cardioline S.p.A., Labtech Ltd, Aspel SA, Borsam BioMedical Instruments Co. Ltd, AMEDTEC Medizintechnik Aue GmbH
Holter Monitor Market 2024 Key Insights:
• The holter monitor market size is expected to see strong growth in the next few years. It will grow to $1.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Cardiovascular Disease Surge Boosts Holter Monitor Market Growth
• Technologically Advanced Devices For Revolutionizing Cardiac Monitoring
• North America was the largest region in the holter monitor market in 2023
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