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.
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The Holter ECG (Electrocardiography) market continues to experience new trends and developments that are shaping the industry and influencing business decision-makers. Here are some insights and analysis of the latest trends in the Holter ECG market:
- Technological Advancements
- Rising Prevalence of Cardiovascular Diseases
- Growing Emphasis on Preventive Healthcare
- Increasing Adoption of Remote Patient Monitoring
- Integration with Artificial Intelligence (AI) and Data Analytics
- Focus on Data Security and Privacy
Holter ECG Market Dynamics:
Drivers:
- Rising geriatric population
- Increasing prevalence of cardiovascular disease
- Technological advancements in wireless monitoring and wearable devices
- Increasing investments, funds, and grants for research on cardiac monitoring
Restraints:
- Frequent product recalls
Opportunities:
- Untapped emerging markets
Challenges:
- Stringent regulatory requirements delaying approval of cardiac devices
- Dearth of skilled professionals with expertise in handling cardiac monitoring devices
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North America dominates the global Holter ECG market
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 rising incidence of CVD, increasing healthcare spending, and the increasing presence of technologically advanced devices in the region. The Asia Pacific is estimated to be the fastest-growing regional market for Holter ECG products during the forecast period.
- Advanced Healthcare Infrastructure
- High Prevalence of Cardiovascular Diseases
- Favorable Reimbursement Policies
- Technological Advancements
- Strong Research and Development Activities
Key Market Players:
Major players 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).
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Recent Developments:
- 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.
- 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.
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