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2025-2034 ECG Patch And Holter Monitor Market Roadmap: Insights for Competitive Advantage
ECG Patch And Holter Monitor Market
How Large Will the ECG Patch And Holter Monitor Market Size By 2025?
In recent times, there has been noticeable growth in the ECG patch and holter monitor market. It is projected that its size will see an increase from $1.44 billion in 2024 to $1.65 billion in 2025, with a compound annual growth rate (CAGR) of 14.6%. Factors contributing to this expansion during the historic period include advancements in technology, a rise in the prevalence of cardiovascular diseases, an increase in the ageing population, a transition to ambulatory and home healthcare, and a surge in healthcare spending.
How Big Is the ECG Patch And Holter Monitor Market Size Expected to Grow by 2029?
Anticipated expansion in the market size for ECG patch and holter monitors seems to be on the fast track over the forthcoming years. The market is set to reach $2.82 billion in 2029, with a sturdy compound annual growth rate (CAGR) of 14.4%. Factors propelling growth during this forecast period include a rise in the elderly population, burgeoning awareness and screening initiatives, adoption of wearable technology, regulatory sanctioning, and the shifting trend towards home healthcare. Key trends to look out for during this forecast period mainly comprise of heightened usage of wearable technology, progressions in sensor technology, the escalating prevalence of cardiovascular diseases, and the surge in telemedicine and remote monitoring.
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Which Key Market Drivers Powering ECG Patch And Holter Monitor Market Expansion and Growth?
The escalation in cardiovascular diseases is projected to drive the expansion of the ECG patch and holter monitor market. Cardiovascular diseases comprise various health issues affecting the heart and blood vessels such as coronary artery disease, heart failure, arrhythmias, and hypertension, all potentially leading to severe health crises like heart attacks, strokes and other cardiovascular events. Factors such as inactive lifestyles, unhealthy diets, obesity and aging demographic have led to an increase in the occurrence of these disorders. ECG patches and Holter monitors are employed in the management of cardiovascular diseases for consistent monitoring of heart rhythm, to identify and diagnose arrhythmias and other cardiac irregularities. For instance, the American Heart Association, a US-based nonprofit organization, reported a minor increase in the total cardiovascular sector deaths in January 2024, with a tally of 931,578, a small increase of 3,000 fatalities from the prior year's count of 928,741. Consequently, the surge in cardiovascular diseases is fueling the growth of the ECG patch and holter monitor market.
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Which Fast-Growing Trends Are Poised to Disrupt the ECG Patch And Holter Monitor Market?
Leading businesses in the ECG patch and holter monitor market are increasingly concentrating on the creation of advanced sensors like AI-powered ECG patches in effort to maintain their market position. These superior wearable gadgets incorporate electrocardiogram technology and artificial intelligence and work continuously to monitor heart rhythms and evaluate data instantly, leading to more accurate and swift detection of cardiac irregularities, thus enhancing cardiovascular care's precision and efficiency. For instance, SmartCardia SA, a medical device corporation based in Switzerland, unveiled its groundbreaking 7L Cardiac Monitoring Patch in August 2022. This cutting-edge device aims to transform patient monitoring within the field of cardiology, blending medical wearable technology with AI to provide predictive, personalized health insights via remote monitoring. The innovative 7L patch, approved with CE Class IIa certification, employs an intricate AI platform developed from millions of cardiologists and certified technicians' interpreted ECG segments, facilitating real-time identification of crucial arrhythmia episodes with the expertise of a cardiologist.
What Are the Emerging Segments in the ECG Patch And Holter Monitor Market?
The ECG patch and holter monitor market covered in this report is segmented -
1) By Product: Electrocardiogram (ECG) Patch, Holter Monitors
2) By Applications: Diagnostics, Monitoring
3) By End-User: Hospitals And Clinics, Ambulatory Facilities, Other End Users
Subsegments:
1) By Electrocardiogram (Ecg) Patch: Wearable Ecg Patches For Continuous Monitoring, Wireless Ecg Patches, Multi-Lead Ecg Patches, Ecg Patches For Arrhythmia Detection, Disposable Ecg Patches, Reusable Ecg Patches
2) By Holter Monitors: 24-Hour Holter Monitors, 48-hour Holter Monitors, 7-day Holter Monitors, Wireless Holter Monitors, Mobile Holter Monitoring Devices, Holter Monitors With Real-Time Data Transmission
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Who Are the Global Leaders in the ECG Patch And Holter Monitor Market?
Major companies operating in the ECG patch and holter monitor market are Medtronic plc, Philips Healthcare, GE HealthCare Technologies Inc., ZOLL Medical Corporation, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Hill-Rom Holdings Inc., Nihon Kohden Corporation, Fukuda Denshi Co Ltd., Verily Life Sciences LLC, iRhythm Technologies Inc., CardioNet Inc., BPL Medical Technologies Private Limited, LifeWatch AG, AliveCor Inc., QardioI Inc., Applied Cardiac Systems(ACS) Diagnostics Inc., Bardy Diagnostics Inc., Cardiac Insight Inc., Tenovi Health, MediBioSense Ltd., Cardiologs Technologies SAS, Shimmer Sensing, Comarch Healthcare
Which are the Top Profitable Regional Markets for the ECG Patch And Holter Monitor Industry?
North America was the largest region in the ECG patch and holter monitor market in 2023. The regions covered in the ECG patch and holter monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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