PUBLISHER: The Business Research Company | PRODUCT CODE: 1509653
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509653
A holter monitor is a portable device utilized to continuously record the heart's electrical activity. This device comprises electrodes placed on the chest, which are connected to a small recording device worn on the belt or shoulder strap. It is worn for a duration of 24 to 48 hours to monitor heart rhythms, aiding in the diagnosis of irregularities such as arrhythmias.
The primary product types of holter monitors include wired and wireless variants. Wired devices require physical connections, typically through cables, to transmit data from the electrodes to the recording device. These devices may feature various channels such as 3 channels, 12 channels, and others, with monitoring capacities extending up to 7 days or beyond. They are utilized by various end-users including hospitals, specialty cardiac centers, and others.
The holter monitor market research report is one of a series of new reports from The Business Research Company that provides holter monitor market statistics, including the holter monitor industry global market size, regional shares, competitors with holter monitor market share, detailed holter monitor market segments, market trends, and opportunities, and any further data you may need to thrive in the holter monitor industry. These holter monitor market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 historical growth can be attributed to several factors, including the emergence of remote patient monitoring solutions, increasing adoption among the elderly population, rising global healthcare expenditure, evolving guidelines favoring continuous cardiac monitoring, and a growing emphasis 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 anticipated growth in the forecast period can be attributed to the expansion of telemedicine and remote healthcare services, the aging population, the increased prevalence of cardiovascular diseases, advancements in data analytics and artificial intelligence, and the rising demand for personalized medicine and preventive healthcare. Major trends expected in the forecast period include the increased adoption of wireless and patch-style monitors, the growth of ambulatory ECG monitoring services, the expansion of home-based cardiac monitoring programs, the development of compact and user-friendly devices, and the integration of telemedicine platforms for remote cardiac care.
The increasing occurrence of cardiovascular diseases is poised to propel the holter monitor market in the foreseeable future. Cardiovascular diseases encompass conditions affecting the heart or blood vessels, often resulting in serious complications such as heart attacks or strokes. Contributing factors to the incidence of cardiovascular disease include sedentary lifestyles, poor dietary habits, rising obesity rates, and an aging population. Holter monitors play a crucial role in cardiovascular disease management by continuously monitoring heart rhythms, aiding in the diagnosis and treatment of conditions such as arrhythmias and ischemic events. For instance, as reported by the Centers for Disease Control and Prevention in May 2023, the number of deaths from heart disease in the US rose from 690,882 in 2020 to 695,000 in 2021. Consequently, the increased occurrence of cardiovascular diseases is stimulating growth in the holter monitor market.
Key players in the holter monitor market are directing their efforts towards developing products equipped with advanced technology to capture high-quality ECG recordings. High-quality ECG (electrocardiogram) recording is essential for accurately capturing the heart's electrical signals, facilitating the diagnosis of various cardiac conditions. For example, in November 2023, Norav Medical, a Germany-based provider of innovative medical devices, introduced the NR-314P Holter device. This cutting-edge Holter device offers up to 14 days of continuous ECG recording in a lightweight 41g design. Featuring 3-lead ECG technology, wireless connectivity, and seamless integration with EHR/HIS systems via HL7 and DICOM, the compact device supports uninterrupted daily activities. Additionally, it enhances patient care with advanced analysis capabilities and 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.
In February 2021, Koninklijke Philips N.V., a US-based technology company, completed the acquisition of BioTelemetry Inc for $2.8 billion. This acquisition enables Philips to expand its cardiac care and remote patient monitoring offerings, enhance healthcare delivery, drive growth and profitability, achieve synergies, and reinforce its position in the rapidly expanding remote monitoring market. BioTelemetry Inc. is a US-based medical technology company specializing in various cardiac monitoring solutions, including Holter monitors, event monitors, and mobile cardiac telemetry.
Major companies operating in the holter monitor market are 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
North America was the largest region in the holter monitor market in 2023. The regions covered in the holter monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the holter monitor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The holter monitor market consists of sales of wireless or patch-style holter monitors, advanced holter monitors, and ambulatory ECG monitors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Holter Monitor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on holter monitor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for holter monitor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The holter monitor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.