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2022

Holter ECG Monitoring Market

Holter ECG Monitoring Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, Lead Type and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030

LS : Medical Devices & Supplies

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Author's: Sushant Terdale| Avinash Gadekar | Roshan Deshmukh
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Holter ECG Monitoring Market Statistics 2030:

The Holter ECG monitoring market size was valued at $320.81 million in 2020, and is projected to reach $696.67 million by 2030, registering a CAGR of 8.4% from 2021 to 2030. A Holter monitor is a small, wearable device that tracks the heart rhythm. It detects the tiny electrical signals of the heart and sends it to the surface of the chest. It is worn particularly to identify the defect in the working of the heart. The defects that identified through the device include various types of arrhythmias such as atrial fibrillation, tachycardia, and atrial flutter. However, there are no risks associated with wearing a Holter monitor other than possible discomfort or skin irritation where the electrodes placed. 

The main difference between the electrocardiogram and Holter monitoring is electrocardiogram records the heart rhythm for up to few minutes whereas Holter monitoring records the rhythm for 24 hours. This helps to detect arrhythmias that may only occur at certain times. The growth of the Holter ECG monitoring market is driven by rise in the geriatric population, increase in prevalence of heart stroke, surge in number of patients suffering from hypertension, and upsurge in prevalence of obesity. Moreover, technological advancements and growth in awareness about feasible use of these devices are other factors that contribute toward the growth of the market. However, lack of trained professionals, inappropriate healthcare infrastructure, and unsteady reimbursement policies are expected to hinder the market growth. Conversely, advanced Holter monitors with enhanced sensitive algorithms for automatic detection of arrhythmias offers lucrative growth opportunities for the market.

Holter-ECG-Monitoring-Market

What is the impact of COVID-19 pandemic on the Holter ECG Monitoring Market?

Coronavirus (COVID-19) was discovered in late December 2019 in the Hubei Province of Wuhan City in China. COVID-19 is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. The application of Holter monitoring devices makes it possible to monitor cardiac rhythm alternations of COVID-19 at the molecular level, and thus, provides essential guidance for the subsequent diagnosis, evaluation, and treatment of COVID-19. It has become the standard of care for patients with implantable sensors, such as pulmonary artery pressure monitors and implantable loop recorders, as well as wearable monitors and external smart-phone enabled devices. The application of devices in the diagnosis and evaluation of the COVID-19 helped the market to gain its position. These devices along with cloud computing tools permit continuous monitoring of all patients with cardiac conditions. 

Holter ECG Monitoring Market
By Component
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Wired Holter Monitors segment is projected as one of the most lucrative segment.

Overall, the impact of COVID-19 on the Holter ECG monitoring market was recorded to be fairly positive. This was attributed to increase in use of Holter ECG monitoring devices in the diagnosis, evaluation, and treatment of cardiac conditions. Moreover, the cardiac patients undergoing rhythm monitoring therapy are at an elevated risk for the development of more severe disease. The demand for Holter ECG monitoring devices is anticipated to rise as individuals with cardiac care are worried about the COVID-19 effects on them, which is expected to positively impact the growth of the Holter ECG monitoring market.

The Holter ECG monitoring market is segmented on the basis of component, lead type, end user, and region. On the basis of component, the market is categorized into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. On the basis of lead type, it is classified into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. On the basis of end user, it is categorized into hospitals & clinics, home settings & ambulatory surgical centers (ASCS), and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Holter ECG Monitoring Market
By Lead Type
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12 Lead Holter Monitors segment is projected as one of the most lucrative segment.

Component Segment Review

On the basis of component, the global Holter monitoring market is classified into wired Holter monitors, wireless Holter monitors, and Holter analysis systems & software. The wired Holter monitors segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to technological advancements in the Holter monitoring and increase in adoption of Holter analysis software and systems (with integrated software solutions), which enable patients or physicians to upload ECG data through home computer or computers at local clinics.

Lead Type Segment Review

On the basis of lead type, the global Holter ECG monitoring market is divided into patch type single lead Holter monitors, 3 lead Holter monitors, 6 lead Holter monitors, 12 lead Holter monitors, and others. The 12 Lead Holter Monitors segment is expected to register the highest growth rate during the forecast period. However, the patch type single lead Holter monitors segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to the fact that in-depth monitoring of heart activity of cardiac patients performed by 12 lead Holter ECGs has increased in utilization over the years.

Holter ECG Monitoring Market
By End User
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Hospitals And Clinics segment is projected as one of the most lucrative segment.

End User Segment Review

On the basis of end user, the global Holter ECG monitoring market is divided into hospitals & clinics, home settings & ambulatory surgical centers and others. The hospitals & clinics segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to rise in adoptions of Holter monitoring devices, surge in advantages of Holter monitoring, and increase in numbers of hospitals & clinics.

Region Segment Review

North America accounted for major share of the global Holter ECG monitoring market share in 2020, and is expected to remain dominant during the forecast period. This is attributed to increase in number of chronic disease patients, surge in demand for Holter ECG monitoring devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced scanner devices, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of Holter ECG monitoring.

Holter ECG Monitoring Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 5.2% during 2020-2030.

Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current Holter ECG monitoring market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing market opportunities. 
  • An in-depth Holter ECG monitoring market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of factors that drive and restrain the growth of the global the Holter ECG monitoring market is provided.
  • The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030, in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the Holter ECG monitoring market.

Holter ECG Monitoring Market Report Highlights

Aspects Details
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By COMPONENT
  • Wired Holter Monitors
  • Wireless Holter Monitors
  • Holter Analysis System & Software
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By LEAD TYPE
  • Patch Type Single Holter Monitors
  • 3 Lead Holter Monitors
  • 6 Lead Holter Monitors
  • 12 Lead Holter Monitors
  • Others
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By END USER
  • Hospitals & Clinics
  • Home Settings & Ambulatory Surgical Centers
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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By Key Market Players
  • BPL Medical Technologies
  • Fukuda Denshi Co Ltd.
  • General Electric Company
  • Hill Rom Holdings, Inc.
  • Koninklijke Philips N.V.
  • Medtronic PLC
  • Mindray Medical International Limited
  • Nihon Kohden Corporation
  • OSI Systems, Inc.
  • Schiller AG

Analyst Review

The utilization of Holter ECG monitoring devices is projected to witness a significant increase during the forecast period, owing to high incidence of cardiac abnormalities across the globe. The Holter ECG monitoring market is largely fragmented, and several manufacturers focus on offering most recent digital compact Holter ECG monitors. Technological innovation is adopted as a principal strategy to increase bargaining power of buyers.

The Holter ECG monitoring market has gained interest of healthcare practitioners, patients, and doctors, owing to increase in shift from treatment to preventive care. In addition, rise in focus on continuous monitoring of heart activity in cardiovascular patients or people who are susceptible to the onset of cardiac abnormalities increases the adoption of Holter monitors across the globe. Moreover, according to the data of World Health Organization (WHO), the estimated number of 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Thus, the Holter ECG monitoring market registered the significant demand and is anticipated to maintain this demand during the forecast period, owing to such high prevalence of cardiovascular disease.

The technological innovations regarding the Holter analysis systems and software are factors responsible to fuel the demand for Holter ECG monitors across various medical settings. Moreover, rise in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for the market expansion.

 

 

 

Author Name(s) : Sushant Terdale| Avinash Gadekar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of Holter ECG monitoring market is $696.67 million in 2030.

Top companies such as GE Healthcare (General Electric Company), Medtronic Plc., Koninklijke Philips N.V., and Nihon Kohden held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.

Wired Holter Monitors segment is the most influencing segment owing to rise in prevalence of chronic diseases, advancements in the Holter ECG monitoring and the launch of new products.

The forcast period for Holter ECG monitoring market is 2020 to 2030

The market value of Holter ECG monitoring market in 2020 is $320.81 million.

The base year is 2020 in Holter ECG monitoring market

Rise in the geriatric population, increase in prevalence of heart stroke, surge in number of patients suffering from hypertension and the launch of new products are the key trends in the Holter ECG monitoring market report.

Asia-Pacific has the highest growth rate of 9.7% in the market which is growing due to presence of large patient population, strong presence of key players, increase in number of hospitals equipped with advanced devices along with surge in utilization of Holter ECG monitoring.

Yes, the Holter ECG monitoring market companies are profiled in the report.

Yes, the Holter ECG monitoring market report provides PORTER Analysis

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Holter ECG Monitoring Market

Global Opportunity Analysis and Industry Forecast, 2021-2030