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Increasing Prevalence of Cardiovascular Diseases (CVDs) Contributes to Growth of Holter ECG Market

NEW YORK, UNITED STATES, January 24, 2022 /EINPresswire.com/ -- According to The Insight Partners latest market research study on “Holter ECG Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Components, End-User,” the market is expected to reach US$ 1,017.57 million by 2028 from US$ 587.61 million in 2021; it is estimated to grow at a CAGR of 8.2% from 2021 to 2028. The report highlights the market trends, drivers, and deterrents. The growing prevalence of CVDs and the significantly rising elderly population drive the market growth. However, the lack of skilled professionals leading to inaccurate Holter ECG analysis hampers the growth of the market.

Strategic Insights

Report Coverage Details
Market Size Value in - US$ 587.61 million in 2021
Market Size Value by - US$ 1,017.57 million by 2028
Growth rate - CAGR of 8.2% from 2021 to 2028.
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages -151
No. Tables -57
No. of Charts & Figures -69
Historical data available -Yes
Segments covered - Component and End User
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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An ECG Holter monitor is a wearable device that helps in tracking the proper functioning of the heart. The device is used to conduct a Holter test, especially on an individual who is susceptible to develop cardiovascular disease. The individual is asked to wear the device for around two to three days to tracked down the heart's activity. The data obtained is then analyzed with the help of analysis software, which helps the doctors suggest an appropriate treatment to the patient.

Growing Cases of Cardiovascular Diseases (CVDs) to Drive Holter ECG Market Growth during Forecast Period

In the last decade, the world witnessed notable developments in Holter ECG monitors, aiding physicians and patients with new approaches to manage diseases such as atrial arrhythmias, ventricular arrhythmias, and ventricular atrial fibrillation. The growing prevalence of arrhythmia and other cardiovascular diseases (CVDs) is encouraging the introduction of improved diagnostic methods. Holter ECG monitors are gaining significant traction as these are simpler and quicker tools used for detecting arrhythmias. Holter monitoring is noninvasive, safer and effective for patient monitoring. According to the World Health Organization (WHO), ~30 million people experience a stroke each year. According to the American Heart Association, almost half of all adults in the US have a type of CVD. Furthermore, more than 130 million people, i.e., 45.1%, of the US population are projected to have a type of CVD by 2035.

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The European Society of Cardiology reported that patients suffering from atrial fibrillation are at a five-times greater risk of getting a stroke, and 20–30% of total stroke cases in Europe are caused due to atrial fibrillation. As per a study conducted by the European Society of Cardiology in 2016, ~7.6 million people aged 65 and above had atrial fibrillation in the EU. The number is estimated to increase by 89% to reach ~14.4 million by 2060. As per the report "Beyond The Burden: The Impact of Atrial Fibrillation in the Asia Pacific" by Biosense Webster, published in 2019, more than 16 million people in Asia Pacific suffer from atrial fibrillation, and the number is expected to reach ~72 million by 2050. The report also suggests that the middle-aged and elderly population is at a greater risk of developing this condition.

Various arrhythmias were reported to patients during the COVID-19 pandemic. This has resulted in further complexity because of COVID-19. Therefore, the demand for portable devices is increasing, which continues to drive the growth of the halter monitor market. Also, cardiac surgeons were overloaded with the emergency surgeries of cardiac patients, management of COVID-19 patients, and implementation of safety guidelines to prevent the spread of the novel coronavirus. COVID-19 pandemic is challenging hospital capacity and healthcare workers.

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Based on components, the global Holter ECG market is segmented into wired Holter monitors, wireless Holter monitors, and Holter analysis systems and software. In 2020, the wired Holter monitors segment held the largest share of the market. However, the wireless Holter monitors segment is expected to register the highest CAGR in the market during 2021–2028. With the help of wireless Holter monitors, individuals can easily move around independently. Therefore, the adaption of these devices is increasing, which is expected to drive the market during the forecast period.

Based on end-users, the Holter ECG market is segmented into hospitals and clinics, ambulatory surgical centers, home settings, and others. The hospital and clinics segment held the largest market share in 2021. However, the home settings segment is expected to hold a significant market share in the market during the forecast period. Holter ECG is simple to operate, does not require additional medical training, and increases the patient's comfort by telemonitoring at home due to mobility of the device, which allows patients to function normally in daily routine. These factors are expected to propel its demand in home settings in the future.

Holter ECG Market: Competitive Landscape and Key Developments

BPL Medical Technologies; FUKUDA DENSHI; General Electric; Koninklijke Philips N.V.; Nihon Kohden Corporation; OSI Systems, Inc.; SCHILLER Healthcare India Pvt. Ltd.; EB Neuro S.P.A; Hill Rom Holding Inc.; and Viatom Technology Co., Ltd. are among the key companies operating in the Holter ECG market. The market leaders focus on new product launch, expansion and diversification, and acquisition strategies, which allow them to tap into prevailing business opportunities.

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Sameer Joshi
The Insight Partners
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