The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), ECG Patch and Holter Monitor Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of ECG Patch and Holter Monitor Industry (2023-2028):
According to the latest report, The ECG Patch and Holter Monitor Market is valued at around USD 1.8 billion in 2024 is estimated to grow at a CAGR of around 8.2% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the ECG Patch and Holter Monitor industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2018-21
- Base Year: 2022
- Forecast Period: 2023-28
- CAGR: 8.2%
What are the major Driver the ECG Patch and Holter Monitor industry?
Rising Cardiac Arrhythmia Cases Drive Demand for ECG Patch and Holter Monitor Market– The increasing global incidence of cardiac arrhythmia is widely contributing to the growing demand for ECG patches and Holter monitors. Lifestyle factors such as sedentary behavior, tobacco use, high blood pressure, and stress have been identified as key contributors to the rising incidence of arrhythmia among patients. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2019, there were approximately 454,000 reported cases of arrhythmia, resulting in 158,000 deaths. Moreover, it is projected that the number of atrial fibrillation cases in the United States alone would reach around 12.1 million by 2030, with the surging consumption of tobacco, alcohol and caffeine among working adults.
In response to the increasing prevalence of arrhythmia, pharmaceutical companies like Smart Cardia and iRhythm Technologies have been introducing new and innovative drug therapies for atrial fibrillation treatment. For instance,
In 2022, Smart Cardia launched a 7-Lead ECG Patch for Cardiology and Remote Patient Monitoring platform with a real-time dashboard to view full-disclosure ECG data, & enable the early detection of patient conditions and deterioration.
Thus, with the continuous boom in patients diagnosed with cardiac arrhythmia cases, and growing availability of advanced monitoring devices to track patient’s health on real time, the demand for ECG Patch and Holter monitor is anticipated to continue to boom in coming years.
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ECG Patch and Holter Monitor Market Segmentation
The ECG Patch and Holter Monitor Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Product
- ECG Patch- Market Size & Forecast 2018-2028, (USD Million)
- Holter Monitor- Market Size & Forecast 2018-2028, (USD Million)
- By Application
- Diagnostic- Market Size & Forecast 2018-2028, (USD Million)
- Monitoring- Market Size & Forecast 2018-2028, (USD Million)
- By Lead Type
- Patch Type-1 Lead- Market Size & Forecast 2018-2028, (USD Million)
- 3-Lead- Market Size & Forecast 2018-2028, (USD Million)
- 6-Lead- Market Size & Forecast 2018-2028, (USD Million)
- 12-Lead- Market Size & Forecast 2018-2028, (USD Million)
- Others (5-Lead, 7-Lead, etc.) – Market Size & Forecast 2018-2028, (USD Million)
- By End-User
- Hospitals – Market Size & Forecast 2018-2028, (USD Million)
- Ambulatory Facilities – Market Size & Forecast 2018-2028, (USD Million)
- Homecare – Market Size & Forecast 2018-2028, (USD Million)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
As per the regional aspect, the ECG Patch and Holter Monitor Market is expected to be dominated by North America by capturing the potential market share.
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Top Companies in the ECG Patch and Holter Monitor Market
GE Healthcare, Philips, Hillrom Services Inc. (Baxter), iRhythm Technologies, Inc., Spacelabs Healthcare (OSI systems), Fukuda Denshi Inc., Cardiac Insight Inc., Vital Connect, Dr. R.A. Fernando School Of Healthcare Technology Inc., Bardy Diagnostics Inc., Shiller AG, BPL Medical Technologies, Smart Cardia Inc., Bittium, ViVa Link Inc
Global ECG Patch and Holter Monitor Market Recent Development
In the year 2022, GE Healthcare and DeepCardio collaborated to develop AI-based ECG diagnosis technology and ECG data analysis program.
In the year 2022, Philips introduces First At-Home, 12-Lead ECG Integrated Solution for decentralized clinical trials to improve patient retention by reducing need for site visits during clinical trials.
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