CHICAGO, Oct. 10, 2023 /PRNewswire/ -- According to Arizton's latest research report, the holter monitor market growing at a CAGR of 8.45% during 2023-2029.
The report analyses the current state of the global Holter monitor market and its market dynamics from 2024 to 2029. It provides an extensive overview of various factors that drive growth, hinder growth, and highlight trends within the market. This study encompasses both the aspects of demand and supply within the industry. Furthermore, it offers profiles and assessments of top companies and other noteworthy firms operating in this sector.
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Holter Monitor Market Report Scope
Report Attributes | Details |
Market Size (2029) | $1.20 Billion |
Market Size (2023) | $742.61 Million |
CAGR (2023-2029) | 8.45 % |
Base Year | 2023 |
Historic Year | 2019-2022 |
Forecast Year | 2024-2029 |
Market Segmentation | Channel Type, Monitoring Capacity, End- |
Geographic Analysis | North America, Europe, APAC, Latin |
Market Dynamics |
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Wireless Holter monitors are primarily used in monitoring patients with conditions such as palpitation, ventricular tachycardia, and atrial fibrillation. They find extensive applications in large and medium-sized hospitals for diagnosing cardiovascular diseases. The Extended Holter Technology, also known as Patch technology, is a long-term wearable Holter device that operates without wires. It consists of two components that sync data to a remote device through Bluetooth. According to one-year data presented at the American College of Cardiology's 67th Annual Scientific Session in March 2018, individuals at a heightened risk of atrial fibrillation (AFib) may benefit from wearing a self-adhering chest patch that records heart patterns. This approach could enhance AFib detection and enable more timely treatment compared to standard care. Despite being costlier, the convenience and accuracy offered by these devices justify their increasing popularity in the global cardiac holter monitor market.
Market Segmentation Overview
The Holter monitor with a 3-channel type segment accounted for the highest share of the Holter monitor market. In 3-channel devices, ECG signals selected by the microprocessor are amplified, filtered, and sent to a 3-channel multiplexer. The multiplexed analog signals are sent to an analog-to-digital converter, which is then stored and sent to a digital-to-analog converter for reconstructing the analog signals. These signals are de-multiplexed and sent to the chart recorder or video display to display the recorded data. Multiple tracings with 3-channel devices could eliminate the need for electrostatic copying, which is often costly and time-consuming. Therefore, using three-channel Holter monitors has become crucial in improving the efficiency of operations in medical settings. This, in turn, drives the growth of the 3-channel Holter monitors segment in the global Holter devices market. Further, the commercial availability of a wide range of Holter monitors with 3 channels is another major factor propelling the segment's growth.
Geographical Analysis
The holter monitor market in the US is growing significantly and is likely to grow at a similar pace during the forecast period. An increase in the prevalence of CVDs and AF, high awareness regarding the benefits of the latest-generation Holter monitors, aggressive expansion plans of vendors to penetrate the US market, and product approvals of new Holter monitors are likely to fuel the growth of the market in the country. The increase in the prevalence of AF is one of the major factors contributing to the increasing adoption of Holter monitors in the country. According to the CDC, about 2.7 million to 6.1 million people in the US suffer from AF.
The Holter monitor market in the US is expected to grow during the forecast period due to the launch and increasing demand for advanced devices, especially the latest generation Holter monitors with patch-based and wireless technology. For instance, in May 2018, Preventice Solutions launched BodyGuardian MINI, the world's first 16-day submersible Holter monitor with a wearable patch that can be moved and reapplied by the patient to optimize comfort and wearability. Therefore, the holter monitor market in the US is expected to grow steadily during the forecast period due to an increase in the elderly population, awareness of advanced Holter monitors, and focus of market players on launching advanced Holter monitors in the region.
Market Dynamics
- Increasing Prevalence of Cardiac Disorders
- Increasing Adoption of Ambulatory Heart Monitoring Devices
- Growing Focus of Vendors on Inorganic Growth Strategies
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Key Company Profiles
- · Koninklijke Philips N.V.
- · GE Healthcare
- · iRhythm Technologies
- · Hill-Rom Holdings Inc (Baxter)
- · Nihon Kohden Corp
- · Fukuda Denshi Co Ltd
- · ACS Diagnostics
- · Advanced Instrumentations
- · AMEDTEC Medizintechnic Aue
- · Aspel SA
- · Hangzhou Beneware Medical Equipment
- · BioMedical Instruments
- · Biotricity
- · Bittium
- · BPL Medical Technologies
- · Borsam BioMedical Instruments
- · BTL Corporate
- · Contec Medical Systems
- · Diagnostic Devices Development
- · Cortrium ApS
- · Custo Med GmBH
- · DMS Services
- · EB-Neuro
- · EDAN Instruments Inc
- · Forest Medical LLC
- · Labtech Ltd
- · LEPU Medicals
- · LUMED srl
- · Medical ECONET
- · Medicomp Inc
- · Meditech KFT
- · Meditech Equipment
- · Midmark
- · Monitor
- · Nasan Medical Electronics
- · Nasiff Associates
- · NeuroSoft
- · Norav Medical
- · NorthEast Monitor
- · Preventice Solutions
- · Recorders & Medicare Systems
- · SCOTTCARE Cardiovascular Solutions
- · Schiller
- · Shenzhen Biocare Bio-Medical Equipment
- · SPACELABS Healthcare
- · Suzuken Company
- · Trimpeks
- · Trismed
- · Medtronic Plc
- · Braun and Company
- · Livetec?Ingenieurbüro GmbH
- · DIMETEK
- · CardioSecur
- · ECGMAC
- · Seiva s.r.o.
- · TZ Medical
- · VasoMedical, Inc.
- · Medset Medizintechnik GmbH
- · Purple MicroPort
Market Segmentation
Channel Type:?3 Channel, 12 Channel, and Others
Monitoring Capacity:?Up to 7 days and Above 7 days
End-user Type:?Hospitals, Specialty Cardiac Centers, and Others
Product Type:?Wired Holter Monitors and Wireless Holter Monitors
Geography:North America, Europe, APAC, Latin America, and Middle East & Africa
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Key Questions Answered in the Report:
How big is the global Holter monitor market?
What is the projected growth rate of the global Holter monitor market?
What are the rising trends in the holter monitor market?
Which region holds the most significant global Holter monitor market share?
Who are the key players in the global Holter monitor market?
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