Global Cardiac Holter Monitor Market Size, Share, Forecast Report, 2020-2027

The global cardiac Holter monitor market is estimated to grow at a CAGR of nearly 7.0% during the forecast period. The major factors contributing to the growth of the market include the increasing prevalence of heart diseases across the globe and advances in CVD diagnostic devices. According to the World Health Organization (WHO), CVD is a major cause of death across the globe. Nearly 17.9 million people die from CVD every year, which accounts for 31% of all deaths globally. Due to the increasing prevalence of CVD conditions, including coronary artery diseases and atrial defibrillation, cardiovascular diagnostic and monitoring have a significant demand for accurate monitoring of the condition. The current trends in CVD diagnostics comprise remote patient monitoring, wearables, telemetry, and portable monitors.



The advances in these devices have augmented the accuracy and speed of diagnosis. This has made devices more comfortable to wear, smaller, and easier to use. Traditionally, ECG devices are large and bulky which becomes portable today. One of the major innovations in this field is Holter devices with wires and electrodes. Such innovations enable to offer timely and quality care to the patients. One major innovation includes Zio Patch by iRhythm Technologies. It is a one-lead ECG sensor with water resistance. The sensor is attached to the chest to monitor the patient condition 24-hour for more than 2 weeks. The patch consists of hydrogel electrodes and it doesn't require a battery change. Strong analytics allows to assess the massive amount of patient data and deliver patterns that support doctors effectively diagnose heart rhythm problems without any additional testing.



Market Segmentation



The global cardiac Holter monitor market is segmented based on product type and end-user. Based on component, the market is segmented into wired Holter monitor, wireless Holter monitor, Holter analysis systems and software. Based on end-user, the market is classified into the hospital and clinic, diagnostic center, and others.



Wired Holter Monitor is anticipated to hold a significant share in the component segment



Wireless Holter monitors are expected to be significantly used in hospitals and clinics to monitor heart rhythm. To check abnormality, patients worn a standard wired Holter monitor for 1 or 2 days and if it is failed to capture irregularities, wireless Holter monitor may be worn by healthcare professionals, which can work for weeks. This test is performed when a doctor is not able to record the patient's heartbeat from other tests, including an electrocardiogram. The data gathered by the Holter monitor allows detecting if the patient is suffering from heart rhythm problems. Currently, wireless Holter monitors are gaining immense popularity for long-term monitoring of the condition. Continuous innovations in wireless Holter monitor is expected to more accelerate its demand during the forecast period.



Regional Outlook



The global cardiac Holter monitor market is segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is estimated to witness a significant share in the market owing to the increasing prevalence of heart diseases in the region and the significant adoption of wearable cardiac diagnostic devices. As per the American Heart Association (AHA), during the period, 2013 and 2016, in the US, 121.5 million American adults were suffering from some kind of CVD. The major types of CVD include coronary heart disease, stroke, high blood pressure, heart failure, and diseases of the arteries. This, in turn, results in the adoption of wearable cardiac monitoring devices in the region.



In addition, the availability of reimbursement for cardiac monitoring devices is further contributing to the market growth in the region. Asia-Pacific is estimated to hold considerable share during the forecast period owing to the rising incidences of CVD coupled with sedentary lifestyle habits and increasing awareness regarding cardiac disorders. The increasing number of multi-specialty hospitals and a significant rise in the adoption of wearable health monitoring devices are further anticipated to drive the market growth in the region.



Market Players Outlook



Some crucial players operating in the market include BioTelemetry, Inc., Hill-Rom Services, Inc., General Electric Co., Koninklijke Philips N.V., and iRhythm Technologies, Inc. These players are adopting some crucial strategies, including mergers and acquisitions, product launches, and partnerships and collaborations, to expand market share and gain a competitive advantage over their competitors. For instance, in May 2018, Preventice Solutions, Inc. declared the introduction of the reusable, smallest long-term Holter technology, BodyGuardian Mini for cardiac monitoring. It is a compactly designed technology that comprises lightweight, ultra-small, cardiac monitor that allows up to 14-days of ECG measurements which is further transmitted to a physician in a data-rich and an easy-to-read report. With the emerging demand for innovative and comfortable wearable cardiac monitoring devices, the launch of the BodyGuardian Mini will likely support the company to increase its market share.