The Holter monitor records electrical signals from the heart via a series of electrodes attached to the chest. The Holter monitor test is usually performed after a traditional test to the heart’s rhythm. The process is also sometimes called ambulatory electrocardiography.
The global Holter monitoring systems market is estimated to account for US$ 1,397.1 Mn in terms of value by the end of 2027.
Global Holter Monitoring Systems Market: Drivers
Increasing preference for preventive care is expected to boost growth of the global Holter monitoring systems market over the forecast period. Holter monitor is effective in preventive care in patients suffering from atrial fibrillation and those who experience fainting spells or near-fainting spells, or dizziness, or feel palpitations or irregular heartbeats. The device helps to determine the total number of heart beats and to determine whether or not a pacemaker is required or medicines need to be adjusted.
Global Holter Monitoring Systems Market: Opportunities
The development of new Holter monitoring devices that can be linked to smartphones is expected to offer lucrative growth opportunities for players in the market.
Global Holter Monitoring Systems Market: Restraints
There is lack of investment and awareness regarding Holter monitoring systems in emerging economies, which is expected to hinder growth of the market.
The Holter Monitoring Devices segment in the global Holter monitoring systems market was valued at US$ 584.3 Mn in 2019 and is expected to reach US$ 885.0 Mn by 2027 at a CAGR of 5.3% during the forecast period. Increasing prevalence of cardiovascular diseases (CVDs) is expected to assist the growth of the segment during the forecasted period.
The Hospitals segment held dominant position in the global Holter monitoring systems market in 2019, accounting for 54.6% share in terms of value, followed by diagnostic center, respectively. Increasing number of public and private hospitals in emerging economies is anticipated to assist the growth of the segment during the forecast period.
The market is witnessing increasing adoption of newer ECG wearables and compact body-worn devices that offer longer device wear time and capture of more cardiac arrhythmia events compared to Holter monitors. For instance, adhesive patch monitors detect more arrhythmia events than the Holter monitor and can be effective alternative to conventional Holter monitoring in patients referred for ambulatory ECG monitoring.
The demand for Holter monitoring system is increasing over traditional ECG machines as it ensures less waiting time for patients and ensures low time consumption, as patients leave the hospital and carry out other activities while the device records their cardiac activity.
Global Holter Monitoring Systems Market: Competitive Landscape
Major players operating in the global Holter monitoring systems market include, Koninklijke Philips N.V., Welch Allyn, Inc., Biotricity Inc., Bittium Corporation, Schiller AG, Shimmer, Fukuda Denshi Co., Ltd., Nihon Kohden Corporation, VivaQuant, and GE Healthcare.
Global Holter Monitoring Systems Market: Key Developments
November 2019: Shimmer, a U.S.-based developer of wearable technology, announced that ECGmd – its five-wire, four-lead Holter monitor ECG, received CE mark
April 2019: VivaQuant, a digital health company, received the U.S. FDA clearance for its RX-1 wearable device that can operate as a Holter monitor