ECG Patch and Holter Monitor Industry Overview
The global ECG patch and holter monitor market was valued at USD 1.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.16% from 2022 to 2030. The growing prevalence of atrial fibrillation, aging, and rising incidence of cardiovascular disorders are likely to drive the market during the forecast period. Furthermore, the shift in the trend toward ambulatory monitoring devices, technological advancements in the field, increase in investments for early detection of arrhythmia, advancements in the field of telemetry, and favorable regulatory policies are likely to drive the market growth.
Atrial Fibrillation (AFib) is a common form of arrhythmia diagnosed in clinics and hospitals. With an aging population, the number is expected to rise to 12.1 million by 2030. Moreover, this condition is also responsible for a considerable number of deaths. For instance, according to the CDC, in 2019, AFib was the underlying cause of around 26,535 deaths in the U.S. People of European origin are more likely to develop arrhythmia when compared with African Americans. Because the prevalence of cardiac arrhythmia increases with age, and women have a higher life expectancy than men, more women experience AFib than men.
Gather more insights about the market drivers, restraints, and growth of the Global ECG Patch And Holter Monitor Market
With the rising incidence of AFib, ventricular fibrillation, Supraventricular Tachycardia (SVT), syncope, palpitations, and post-ablation follow-up worldwide, the demand for ambulatory monitoring devices has increased in the hospitals. In addition, continuous ECG monitoring is a preferred option for obtaining accurate results, when compared to inpatient standard ECG monitoring. The standard ECG test does not provide a clear diagnosis, after which people are referred for further investigations. To avoid such situations, ECG patches and Holter monitors are used. The Holter monitor is the most preferred device worldwide for detecting AFib.
Increasing competition from technologically advanced and portable devices that are more economical than traditional ECG is expected to create pricing pressure on established manufacturers. Recent government regulations are expected to affect product pricing due to a reduction in reimbursement rates. The Medicare Physician Fee Schedule Final Rule for 2022 was released in November 2021 and yet again excluded to issue of national pricing for extended external ECG monitoring after December 2020. This is likely to lead to reduced Medicare rates for devices, negatively impacting their adoption.
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ECG Patch and Holter Monitor Market Segmentation
Grand View Research has segmented the global ECG patch and holter monitor market based on product, application, end use, and region:
ECG Patch and Holter Monitor Product Outlook (Revenue, USD Million, 2017 - 2030)
- ECG Patch
- Holter Monitors
ECG Patch and Holter Monitor Application Outlook (Revenue, USD Million, 2017 - 2030)
- Diagnostics
- Monitoring
ECG Patch and Holter Monitor End-Use Outlook (Revenue, USD Million, 2017 - 2030)
- Hospitals & Clinics
- Ambulatory Facilities
- Others
ECG Patch and Holter Monitor Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Market Share Insights:
May 2021: iRhythm Technologies, Inc. announced the receipt of two additional 510(k) certifications—one for a redesigned and improved flagship monitor and another for enhanced Artificial Intelligence (AI) capabilities.
Key Companies profiled:
Some prominent players in the global ECG Patch And Holter Monitor market include
- Nissha Medical Technologies (NMT)
- Medtronic plc
- Hill-Rom
- iRhythm Technologies, Inc.
- Nihon Kohden Corporation
- Koninklijke Philips N.V.
- GE Healthcare
- Fukuda Denshi Co., Ltd.
- Spacelabs Healthcare
- AliveCor, Inc.
- Cardiac Insight Inc.
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