Dublin, Nov. 09, 2020 (GLOBE NEWSWIRE) -- The "Holter Monitors Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Holter Monitors Market Report
The holter monitors market by revenue is expected to grow at a CAGR of over 8% during the period 2020-2025.
The global Holter monitors market is one of the fastest-growing segments of the ambulatory cardiac monitoring devices market. The market is growing significantly due to the growing incidence/prevalence of arterial fibrillation (AF) and associated risk of stroke and CVDs across the world.
The rising awareness among patients of continuous ECG recording and the increasing availability of several effective ambulatory monitoring devices is a major driver for market growth. The rapid rise in advanced monitoring devices that combine the benefits of continuous ECG recording while simultaneously allowing to perform day-to-day activities increases market growth.
Global Holter Monitors Market Segmentation
This research report includes a detailed segmentation by channels, monitoring capacity, end-user, geography. In 2019, the 3 channels segment accounted for the largest share with over 48%. 3 channels recording highly improves the efficiency of healthcare operations in hospitals and specialized cardiac centers. Multiple tracings with 3 channels devices could be run off, eliminating costly and time-consuming electrostatic copying. With the increasing burden of ambulatory ECGs in healthcare facilities, 3 channels Holter monitors have become crucial in improving operational efficiency, thereby driving the segment's growth.
The up to 7 days segment accounted for the maximum market share due to 7 days holters' accurate and effective clinical results for diagnosing arrhythmia and associated disorders. Arterial fibrillation (AF) screening after stroke with up to 7 days holter monitoring is a routine screening tool. The growing prevalence of arrhythmia, particularly AF, is associated with increased disability and mortality over the past few decades. Hence, to prevent the same, the demand for holters has been growing significantly over the decades. Due to their procedural success rates and the growing patient pool of cardiac diseases, many keys and other prominent players have developed advanced holter monitors with up to 7 days of recording capacities.
In 2019, the hospital end-user segment accounted for over 48% of the global Holter monitors market. Healthcare professionals in hospitals use these devices for monitoring symptoms associated with arrhythmia. The market is growing at a healthy rate due to the high adoption of the latest generation of holter monitors. The majority of patients with a high risk of heart disease prefer visiting hospitals for diagnosis and treatment due to advanced infrastructure facilities in major private and public hospitals.
In 2019, North America accounted for a 40% share of the global Holter monitoring systems market. The region has the highest share globally and is likely to witness the highest incremental growth during the forecast period. The US is the major revenue contributor to the Holter monitors market in North America and accounted for the highest share in 2019. Canada is also likely to experience healthy growth during the forecast period.
The growth in North America is mainly attributed to the increasing incidence of AF, cardiac diseases, surge in diagnosis procedures, the availability of advanced healthcare infrastructure and constant technological innovations, and growing acceptance for technologically advanced ECG devices. The prevalence of AF has been growing in the region over the years. Similarly, the increase in the prevalence of several health risk factors, such as high BP, smoking, lack of physical activities, obesity, and diabetes, contributes to the prevalence of CVDs.
Insights by Vendors
The global Holter monitors market is highly competitive and fragmented with global, regional, and local players offering a broad range of conventional and the latest holter monitors for end-users. GE Healthcare, Koninklijke Philips, iRhyhm Technologies, Hillrom, and BioTelemetry are the key vendors in the market. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on product innovation, strategic mergers & acquisitions, and R&D activities.
Vendors, especially global players, are increasingly focusing on pursuing inorganic growth strategies such as M&A and emerging companies to expand their presence, enhance product portfolio, and improve expertise in the market. Such inorganic initiatives will complement vendors' organic growth strategies, thereby gaining traction among end-users in the market.
KEY QUESTIONS ANSWERED
1. What is the holter monitors market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the holter monitors market share?
3. What is the growth of Asia Pacific holter monitors market share during the forecast period?
4. Who are the leading vendors in the market?
Other Prominent Vendors
AMEDTEC Medizintechnik Aue
Hangzhou Beneware Medical Equipment
BPL Medical Technologies
Borsam Biomedical Instruments
CONTEC MEDICAL SYSTEMS
Oy Diagnostic Devices Development - DDD
Nasan Medical Electronics
ScottCare Cardiovascular Solutions
Shenzhen Biocare Bio-Medical Equipment
For more information about this report visit https://www.researchandmarkets.com/r/ur29lx
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