The global Holter ECG market is currently valued at USD 645.2 million in 2023 and is anticipated to reach a valuation of USD 1.5 billion by 2033. The market is projected to grow at a CAGR of 8.6% from 2023 to 2033.
| Attributes | Key Statistics |
|---|---|
| Holter ECG Market Size (2023) | USD 645.2 million |
| Anticipated Holter ECG Market Size (2033) | USD 1.5 billion |
| Value-based CAGR (2023 to 2033) | 8.6% CAGR |
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Rising Cardiovascular Diseases Boosts Holter ECG Market Growth
The rising prevalence of arrhythmia and associated cardiac and vascular diseases is the leading cause of the increase in Holter ECG market growth. These diseases are mainly caused by factors such as age, inactivity, obesity, and high blood pressure. The demand for Holter monitors is also increasing due to the rising prevalence of atrial fibrillation (AF), associated risk of stroke and cardiovascular diseases, growing awareness among patients regarding steady ECG recording, and the availability of several effective ambulatory monitoring devices.
During the forecast period, the Holter ECG market is expected to experience significant growth due to various factors, including an increase in the number of elderly individuals, a surge in the prevalence of cardiovascular diseases, and the growing demand and adoption of these monitors by doctors and physicians. However, the growth of the Holter ECG market may be impeded by the need for more skilled professionals who can accurately monitor the Holter ECG reports.
Increasing Demand for Wireless Holter Monitors Driving Market Growth
The development of wireless cardiac heart monitors has gained traction due to the increasing usage of wireless devices. The convenience and accuracy provided by wireless Holter monitors have made them a popular choice among consumers. Additionally, the market is witnessing a growing focus on developing expertise in heart monitoring systems, which is expected to create attractive growth opportunities for market participants.
An evolution in the market has been witnessed due to the increasing popularity of the wireless Holter ECG monitor segment. The widespread applications of these devices in enhancing efficiency, providing remote access, managing cardiovascular diseases, and their affordability have contributed significantly to the dominance of this segment.
During the prediction period, the global Holter ECG market is expected to grow due to various factors, including an increase in the incidence of congenital heart defects, technological advancements in Holter ECG monitors, a rise in the adoption of MRI procedures, and an upsurge in the senior population.
However, the high cost of production and strict regulations associated with these devices limit market growth. In the forthcoming years, an increase in heart strokes and the development of innovative products by key players are expected to provide profitable opportunities for market expansion.
| Attributes | Key Statistics |
|---|---|
| Holter ECG Market Size (2022) | USD 588.1 million |
| CAGR (2018 to 2022) | 10.8% CAGR |
The highest risk for heart disease arises due to one's socioeconomic status and leading a sedentary life. This surge in cardiac illness is expected to boost the market size for cardiac monitoring devices that can be worn on the body. Globally, cardiovascular disease is the primary cause of death, which has resulted in an increased demand for wearable cardiac monitoring devices in hospitals and ambulatory surgical centers.
Furthermore, the severe health risks associated with heart disease are expected to drive the need for testing. The demand for such devices is increasing in lower and middle-income countries, which is expected to drive the market for Holter ECG devices over the coming decade.
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| Top Product | 12-Lead |
|---|---|
| CAGR (2018 to 2022) | 10.5% CAGR |
| CAGR (2023 to 2033) | 8.4% CAGR |
The market has six categories based on the type of products: 12-lead,5-lead,3-lead, 6-lead, single-lead, and others. The Holter ECG products are perfect for monitoring and tracking heart abnormalities, which can help maintain track of a healthy lifestyle.
The 12-lead products segment is expected to dominate the market in the coming decade, growing at a global CAGR of 8.4%. However, recordings from these monitors are of lower resolution than those from a standard 12-lead ECG and have provided misleading ST segment representation. Despite this, some devices allow setting the sampling frequency up to 1000 Hz for special-purpose examinations such as detecting late potential.
| Top Application | Hospitals |
|---|---|
| CAGR (2018 to 2022) | 10.3% CAGR |
| CAGR (2023 to 2033) | 8.1% CAGR |
There are three application-based categories for the Holter ECG market: hospitals, clinics, and others. The hospital segment is expected to lead the market due to the surge in the prevalence of CVD, an increase in the number of patient visits to physician offices for CVD diagnosis, a rise in the number of cardiac implant procedures, and the availability of reimbursement policies in developed markets.
Over the next decade, hospital applications are expected to become more popular due to their diverse range of medical practices compared to other measures.
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| Country | CAGR (2023 to 2033) |
|---|---|
| United States | 8.9% |
| United Kingdom | 9.6% |
| China | 9.2% |
| Japan | 7.7% |
| South Korea | 9.8% |
The Holter ECG market in the United States is expected to grow significantly over the coming years, with a projected CAGR of 8.9% from 2023 to 2033. The United States holds a significant market share because of its advanced healthcare infrastructure, medical research and innovation leadership, and diverse patient population with varying healthcare needs.
The United Kingdom is expected to experience significant market growth during the forecast period, mainly due to the rising demand for heartbeat monitoring and the adoption of advanced technologies. The country's strong market position can be attributed to its improved healthcare infrastructure and increased spending on research and development of heart rate monitoring equipment.
China's demand for Holter ECG products is continuously increasing, with a CAGR of 9.2% over the next ten years. This is due to the growing aging population and the Chinese government's efforts to boost the healthcare sector. As a result, the revenue market in China is expected to grow strongly over the projection period.
The Holter ECG market in Japan is poised to experience rapid growth over the forecast years. This is due to the progress in technical and healthcare sectors, particularly in developing provinces. The demand for Holter ECG treatments in Japan is expected to grow at a CAGR of around 7.7% through 2033. The healthcare sector's increasing requirement for ECG devices is anticipated to fuel market expansion over the next decade.
The Holter ECG market experienced a substantial increase in value, primarily due to South Korea's contribution. The country's advanced healthcare infrastructure and easy access to technological devices have been driving this growth. Moreover, the rising incidence of chronic and cardiovascular diseases in the country has further accelerated the market's value.
The Holter ECG market is constantly evolving with various changes, such as joint ventures, product innovation, strategic partnerships, mergers and acquisitions, and new inventions. These strategies help evaluate the competition in the global market.
Some key players in the medical display market include Royal Philips, Nissha Medical Technologies, Medtronic PLC, Hill-Rom Services Inc., I Rhythm Technologies Inc., AliveCor Inc., Cardiac Insight Inc., and Vital Connect.
Recent Developments in the Holter ECG Market
In 2022, the global Holter ECG market was valued at USD 588.1 million.
The market is estimated to reach a valuation of USD 645.2 million.
The market is anticipated to expand at a CAGR of 8.6% from 2023 to 2033.
The 12-lead product segment is dominating the market with a CAGR of 10.5% through 2033.
The top players in the Holter ECG market are Nissha Medical Technologies, Medtronic PLC, Hill-Rom Services, inc., I Rhythm Technologies, Inc., AliveCor, Inc., Cardiac Insight Inc., and Vital Connect.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. 12-Lead 5.2. 5-Lead 5.3. 3-Lead 5.4. 6-Lead 5.5. Single-Lead 5.6. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Hospitals 6.2. Clinics 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Nissha Medical Technologies 17.2. Medtronic PLC 17.3. Hill-Rom Services 17.4. iRhythm Technologies, Inc. 17.5. AliveCor, Inc. 17.6. Cardiac Insight Inc. 17.7. Vital Connect 17.8. LifeSignals, Inc. 17.9. Bardy Diagnostics, Inc. 17.10. Nasiff Associates, Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Holter ECG Market
