Saturday, April 13, 2024

Holter ECG Market worth $558 million by 2027: Revolutionizing Heart Monitoring Technology

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Holter ECG market refers to the market for Holter monitors or devices used for ambulatory electrocardiography. Holter ECG monitoring is a non-invasive diagnostic test that records the electrical activity of the heart over a period of 24 to 48 hours, or even longer. It is used to detect and monitor abnormal heart rhythms, assess the effectiveness of medications or treatments, and diagnose various heart conditions.

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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.

The market for Holter ECG devices and related services was witnessing steady growth due to several factors:

Rising Cardiovascular Disease Prevalence: The increasing prevalence of cardiovascular diseases, such as arrhythmias, atrial fibrillation, and heart failure, has driven the demand for Holter ECG monitoring to aid in early detection and continuous monitoring of patients’ heart conditions.

Aging Population: The global aging population has contributed to the growing demand for cardiac monitoring devices like Holter monitors, as older individuals are more susceptible to heart-related issues.

Technological Advancements: Advances in technology have led to the development of more sophisticated and user-friendly Holter ECG devices with improved accuracy and data analysis capabilities.

Increased Awareness and Screening Programs: Public awareness of heart health and the implementation of screening programs for early detection of cardiac issues have further boosted the adoption of Holter ECG monitoring.

Integration with Healthcare Systems: Holter ECG devices have been increasingly integrated into electronic health records and healthcare systems, making it easier for healthcare professionals to access and analyze patient data.

Growing Healthcare Expenditure: The overall increase in healthcare spending globally has supported the demand for advanced medical devices, including Holter ECG monitors.

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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. The high growth in this market can be attributed to the rising prevalence of CVD, which is attributed to the increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking in several Asia Pacific countries.

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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