Holter ECG Market is Expected to Reach $558 million | MarketsandMarkets.

Chicago, May 22, 2023 (GLOBE NEWSWIRE) — The Holter ECG industry is poised for significant growth in the near future as advancements in technology and increasing awareness about cardiac health drive the demand for portable and continuous ECG monitoring solutions. Holter ECG devices, which record a patient’s heart activity over an extended period, offer valuable insights into cardiac health, aiding in the diagnosis and management of various cardiovascular conditions. In the coming years, we can expect the industry to witness advancements such as smaller and more discreet devices, longer recording durations, improved accuracy, and seamless integration with digital platforms for data analysis and interpretation. These advancements will not only enhance the convenience and comfort for patients but also enable healthcare professionals to monitor and analyze ECG data more efficiently, leading to timely interventions and improved patient outcomes. Moreover, the growing prevalence of cardiovascular diseases, an aging population, and increasing adoption of remote patient monitoring solutions are expected to further propel the demand for Holter ECG devices in the near future.

Holter ECG market in terms of revenue was estimated to be worth $416 million in 2022 and is poised to reach $558 million by 2027, growing at a CAGR of 6.1% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The increasing prevalence of patients suffering from cardiovascular disease (CVD) and the need for early and continuous diagnosis are the major factors contributing to the growth of this market. The growing geriatric population and technological advancements in wireless monitoring and wearable devices are also supporting market growth. However, the shortage of skilled professionals to monitor Holter ECG reports with accuracy is likely to hamper the growth of the Holter ECG market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54808904

Holter ECG Market Scope:

Based on product, the Holter ECG market is segmented into wired Holter ECG monitors, wireless Holter ECG monitors, and software. In 2021, the wired Holter ECG monitors segment accounted for a major share of the market. The large share of this segment is attributed to the wide applications of these devices in CVD management as well as their low cost.

Based on lead type, the Holter ECG market is segmented into patch type 1-lead, 3-lead, 6-lead, 12-lead, and other lead types (such as 4-, 5-, and 7-lead Holter ECG monitors, among others). In 2021, the 12-lead Holter monitors segment accounted for the largest share of the Holter ECG market. This is mainly attributed to the higher clarity obtained by using a larger number of leads. 12-lead ECG devices provide a highly detailed outlook, making it easier to interpret cardiac electrical activity.

Based on end user, the Holter ECG market is segmented into hospitals and specialty clinics, ambulatory surgical centers, and other end users. The hospitals and specialty clinics segment accounted for the largest share of the global market in 2021. The large share of this segment is attributed to the increasing prevalence of CVD, the growing number of patient visits to physician offices for the diagnosis of CVD, the increasing number of cardiac implant procedures, and the availability of reimbursement for these procedures across developed markets.

Based on the region segmentation, the Holter ECG market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the Holter ECG market. The large share of the North American market can be attributed to the high burden of CVD, increasing healthcare expenditure, and the growing availability of technologically advanced devices in the region.

Key Market Players:

Major players operating in the Holter ECG market include GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), and Hill-Rom Holdings, Inc. (Baxter International Inc.) (US). These companies have strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share in maximum countries along with multi-purpose products and a larger product footprint.

Enquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=54808904

Hypothetic Challenges of Holter ECG Market in Near Future:

Data Analysis and Interpretation: With the increasing adoption of Holter ECG devices, there will be a substantial amount of data generated that needs to be accurately analyzed and interpreted. Developing advanced analytical tools and algorithms to efficiently process and extract meaningful insights from the data will be a challenge.

Integration with Healthcare Systems: Integrating Holter ECG devices seamlessly with existing healthcare systems and electronic health records (EHR) is crucial for efficient patient management and continuity of care. Overcoming interoperability challenges and ensuring smooth data exchange between different platforms and systems will be a significant challenge.

Cost-effectiveness: While the demand for Holter ECG monitoring is rising, ensuring affordability of devices and services will be a challenge. Striking a balance between providing high-quality Holter ECG solutions and making them accessible and affordable to a broader population will require innovative pricing models and cost-effective manufacturing processes.

User-Friendliness and Patient Compliance: Enhancing the user-friendliness of Holter ECG devices and improving patient compliance with wearing and using the devices for the recommended duration will be crucial. Developing comfortable, easy-to-use devices and implementing strategies to encourage patient adherence to monitoring protocols will be important challenges.
Regulatory Compliance: Meeting regulatory requirements and obtaining necessary approvals for Holter ECG devices can be a complex and time-consuming process. Staying up-to-date with evolving regulations and ensuring compliance with quality and safety standards will be a challenge for market players.

Data Security and Privacy: Protecting patient data and ensuring confidentiality in the context of Holter ECG monitoring will be a critical challenge. Implementing robust data security measures, encryption protocols, and privacy safeguards to safeguard sensitive patient information will be essential.

Education and Training: Ensuring healthcare professionals are adequately trained in the use and interpretation of Holter ECG devices will be vital. Providing comprehensive education and training programs to enhance their proficiency in utilizing the technology and making accurate clinical decisions based on the obtained data will be a challenge.

Top 3 Use Cases of Holter ECG Market:

• Diagnosis and Monitoring of Cardiac Arrhythmias: Holter ECG devices are widely used in the diagnosis and monitoring of cardiac arrhythmias. These devices can continuously record the electrical activity of the heart over a 24 to 48-hour period, providing valuable data for detecting and analyzing irregular heart rhythms. Holter ECG monitoring helps healthcare professionals diagnose conditions such as atrial fibrillation, ventricular tachycardia, and bradycardia, and evaluate the effectiveness of treatment interventions.
• Evaluation of Silent Ischemia: Holter ECG is also used to evaluate silent ischemia, which refers to episodes of reduced blood flow to the heart that do not cause noticeable symptoms. By monitoring the heart’s electrical activity over an extended period, Holter ECG can detect transient myocardial ischemia, providing insights into the patient’s risk of future cardiovascular events and guiding treatment decisions.
• Assessment of Treatment Efficacy: Holter ECG monitoring is valuable for assessing the effectiveness of anti-arrhythmic medications or other interventions. By comparing pre- and post-treatment recordings, healthcare professionals can determine if the prescribed treatment is successfully controlling the arrhythmias and improving the patient’s cardiac health.

It’s important to note that these use cases are indicative and not exhaustive. The specific applications of Holter ECG may vary depending on individual patient needs, clinical settings, and advancements in technology.

Recent Developments:

• In 2022, Royal Philips (Netherlands) partnered with Prisma Health (US) to help the health system achieve enterprise interoperability, standardize patient monitoring, and drive innovation in enterprise imaging solutions to enhance patient care and improve clinical performance.
• In 2021, Royal Philips (Netherlands) acquired BioTelemetry, Inc. & Capsule Technologie (US) to strengthen Philips’ cardiac care portfolio, cardiac diagnostics, and monitoring services, which are included in the Connected Care segment.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=54808904

Related Reports:

Cardiac Safety Services Market

Medical Electrodes Market

ECG Cables and Lead wires Market

Cardiac Monitoring Devices Market

Diagnostic ECG Market

CONTACT: About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com