Mobile Cardiac Telemetry Systems Industry Overview
The global mobile cardiac telemetry systems market size was estimated at USD 833.8 million in 2021 and is expected to register a compound annual growth rate (CAGR) of 12.1% from 2022 to 2030. The increasing prevalence of cardiovascular disorders and associated mortality has increased awareness about the benefits of Mobile Cardiac Telemetry (MCT) devices, which is propelling market growth. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2017, 800,000 deaths were reported due to cardiac disorders in the U.S., which is also the leading cause of death in the country. Furthermore, physical inactivity due to a sedentary lifestyle coupled with tobacco smoking and obesity has increased cardiac disorder morbidities.
The COVID-19 outbreak caused due to SARS-CoV-2, already affected millions of people globally as of June 2020. The contagious coronavirus is also having an economic impact and implications on most of the sectors including the medical device industry. Initially, the patients showed improvement with the combined usage of hydroxychloroquine and azithromycin, but it has a risk of prolonging the QT interval. Mobile cardiac telemetry is widely used in such patients to remotely monitor them to reduce hospitalization.
Gather more insights about the market drivers, restraints, and growth of the Global Mobile Cardiac Telemetry Systems Market
Moreover, the device is also helpful for the rapid detection of arrhythmogenic risks for such COVID-19 patients in the outpatient setting. Hospitals are currently overburdened with patients due to the pandemic and in such cases, these devices are very helpful for remote monitoring, which is further boosting the growth of the market for the mobile cardiac telemetry system. For instance, in March 2020 Biotelemetry, Inc. expanded its mobile cardiac outpatient telemetry monitoring program to COVID-19 patients in various institutions in the U.S. to monitor QT prolongation associated with hydroxychloroquine and azithromycin medication.
The increasing prevalence of arrhythmia is one of the major factors contributing to the growth of the market for mobile cardiac telemetry system. According to the Centres for Disease Control and Prevention (CDC), around 12.1 million people are expected to suffer from atrial fibrillation (AFib), a type of heart arrhythmia, by 2030. As per the same source, AFib was mentioned on 183,321 death certificates in the U.S. in 2019. The industry players are constantly trying to develop micro-sized handy devices to sustain their market share. For instance, in September 2019, iRhythm Technologies, Inc. collaborated with Verily Life Sciences to combine iRhythm’s AI-based system with Verily’s data analytical technology to screen, monitor, and diagnose atrial fibrillation.
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Mobile Cardiac Telemetry Systems Industry Segmentation
Grand View Research has segmented the global mobile cardiac telemetry systems market on the basis of application, end use, and region:
Mobile Cardiac Telemetry Systems Application Outlook (Revenue, USD Million, 2017 - 2030)
- Lead-based
- Patch-based
Mobile Cardiac Telemetry Systems End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Hospitals
- Cardiac Centers
- Others
Mobile Cardiac Telemetry Systems Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA (Middle East & Africa)
Market Share Insights:
May 2021: VitalConnect launched the VitalPatch RTM mobile cardiac telemetry solution. The solution has a flexible and programmable platform, which covers various cardiac monitoring needs.
July 2019: Biotelemetry acquired ADEA Medical AB. This acquisition is aligned with BioTelemetry’s longer-term strategy to expand its international business in the Nordics and other European countries.
Key Companies profiled:
Some prominent players in the global Mobile Cardiac Telemetry Systems Industry include
- BioTelemetry, Inc.
- ScottCare
- Biotricity Inc
- Welch Allyn
- Applied Cardiac Systems Inc
- Medicomp Inc.
- Preventice Solutions
- Telerhythmics LLC
- Zoll Medical Corporation
- iRhythm Technologies, Inc.
Order a free sample PDF of the Mobile Cardiac Telemetry Systems Market Intelligence Study, published by Grand View Research.
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