PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388790
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388790
Holter monitor is known as a portable electrocardiograph (ECG) device that is used to continuously record a patient's heart activity. It is a small camera size and has wires with silver dollar-sized electrodes that connect to the skin. Additionally, the Holter monitor is operated by batteries and can operate for 24 to 48 hours or longer depending on the kind of monitoring used.
The most recent Holter monitor versions are small, adhesive patches that cling directly to patients' chests, allowing them to undertake normal activities like showering or walking with no belt-mounted monitoring or cables getting in the way. The latest innovations are gaining momentum in the Holter monitor marketplace because they provide user freedom and comfort, in addition to long-term monitoring of over seven days. The lack of knowledge required for data analysis in developing nations, on the other hand, is projected to limit market expansion. Furthermore, in the market, technological improvements have enabled Holter monitors to have extended recording time with gadgets that are very light and stick to the skin via adhesive, wireless electrodes. In addition, modern Holter monitors give patients greater freedom to carry out their daily activities. They can also transmit data to HCPs through digital platforms like mobile apps in the form of electronic records. Moreover, for evaluating patients with conduction abnormality symptoms or cardiac arrhythmia, ambulatory ECG monitoring is the most commonly used technology. The clinical standard of care for diagnosing and detecting cardiac arrhythmias is multi-lead Holter monitoring equipment that captures heart rate-related information and continuous ECG waveforms. Electrocardiogram (ECG) sensors are mainly embedded into wearable ambulatory monitoring devices, including Holter monitors, to monitor irregular heartbeats, thereby driving the market growth.
The increasing prevalence of cardiovascular diseases is projected to fuel the growth of the global heart monitoring systems market.
The global holter monitor market is segmented on the basis of channel type, product type, monitoring capacity, end user, and region.
The market is divided into two categories based on channel type: 3 channel, 12 channels, and others. The 3 channel segment is expected to maintain its dominance over the forecast period. In this segment, ECG signals opted by the microprocessor are filtered, amplified, and transferred to a 3-channel multiplexer. Multiple tracings with 3-channel devices could remove the requirement for electrostatic copying, which is often time-consuming and costly. Thus, utilizing three-channel Holter monitors has become essential in enhancing the efficiency of operations in medical settings. This, in turn, fuels the growth of the 3-channel Holter monitors segment across the globe.
The market is divided into two categories based on product types: wireless holter monitors and wired holter monitors. The wired holter monitors segment is witnessing to possess the largest revenue share. The segment is attributed to technological advancements and the adoption of Holter analysis systems and software, allowing physicians or patients to upload ECG data through local clinics or home computers. The modern generations of Holter ECG devices enable the direct transmission of remote cardiac monitoring data, thereby driving segment growth.
North America is likely to maintain its dominance in the global Holter monitor market share. The increasing prevalence of AF and CVDs such as CAD, the accessibility of advanced healthcare facilities the increasing adoption of cutting-edge ECG devices, an increase in diagnosis methods for treating these illnesses, and constant technological developments are all contributing to the region's growth. Moreover, the Europe market is accounted to hold a significant share during the forecast period. The market growth is witnessed by the growing elderly patient population and the prevalence of cardiac diseases. Additionally, the availability of technologically advanced Holter monitors and favorable guidelines are accelerating the market growth in the region.
The rising focus on the development of proficiency in managing Holter monitoring systems is accelerated to provide present profitable expansion prospects for industry players. Increasing emphasis on the development of expertise in handling Holter monitoring systems is expected to offer lucrative growth opportunities for players in the market. Additionally, increasing private and public hospitals in emerging nations is also predicted to aid in the market growth. Moreover, the Holter monitor market is highly competitive across the globe with growing technological innovations; several small and mid-sized businesses are entering the industry to enhance their presence in this growing market. In line with this, the emphasis on discovering and developing new products has helped garner a greater customer base. For instance, in January 2022, The FDA granted Biotricity Inc. 510(k) approval for its Biotres Cardiac Monitoring Device, a three-lead gadget for arrhythmia surveillance and ECG that is designed for lower-risk patients.
For instance, in January 2021, Boston Scientific reported the acquisition of Preventive Solutions, Inc., which offers a comprehensive range of mobile cardiac healthcare products and remedies, including ambulatory cardiac monitoring including short and long-term Holter monitors, as well as mobile cardiac telemetry as well as cardiac event monitors.
The scope of this report covers the market by its major segments, which include as follows: