Product Innovation with Technology Advancements is an Opportunity of the Holter ECG Market

According to our new market research study on "Holter ECG Market to 2028 - COVID-19 Impact and Global Analysis - by Component, Application, Indication, Channel, and End User," the market is expected to grow from US$ 757.26 million in 2022 to US$ 1,215.76 million by 2028; it is expected to register a CAGR of 8.2% from 2022 to 2028. The report highlights trends prevailing in the Holter ECG market, and drivers and restraints pertaining to the market growth.

Product Innovation with Technology Advancements

CVDs are one of the leading causes of death, accounting for 17.5 million deaths annually, i.e., approximately 31% of deaths every year, as per the estimates revealed by Impacting Research Innovation and Technology report. Therefore, to reduce the mortality rates, a regular check-up of the heart condition is necessary, which requires tracking of electrical activities of the heart for a longer duration. Further, a portable Holter ECG can solve mortality-associated problems in which the product is implantable or external monitoring devices under special care. Additionally, manufacturers implement innovative products for Holter ECG devices such as remote cardiac monitors by wirelessly transmitting its data for use in telemetry. Further, manufacturers are making efforts to design wearable Holter ECG devices that can serve as a computing and display unit for recording episodes of cardiac rhythmic activity. Similarly, with the rising incidence of stroke, hypertension remains an unexpected incidence among the population resulting in chronic heart problems. Therefore, wireless Holter ECG monitors at home are highly adopted to check patient's heartbeats regularly. Such product innovations, along with technology advancements, are likely to support the growth of the Holter ECG market in the coming years.

North America held the largest market share of the Holter ECG market in 2021. With several North American market players focusing on research and development activities in the field of Holter ECG, the regional market for Holter ECG market is likely to propel during the forecast period. Furthermore, Asia pacific market is expected to grow at the highest CAGR% during the forecasted year. The growth of Asia Pacific region is attributed due to increasing per capita healthcare expenditure in countries like Indonesia, India and China followed by increasing investment in healthcare infrastructure by the government.

Many companies offering products for cardiac monitoring have their business operations in the United states and business was adversely affected by the widespread outbreak of COVID-19. This has disrupted and restricted company's ability to distribute products, as well as temporary closures of facilities or the facilities of suppliers or customers. Moreover, market players also witnessed disruption in their business operations since March 2020, as US healthcare authorities framed policies about elective cardiac surgeries. Also, to free-up limited space for people being treated for the virus, hospitals have postponed, or cancelled. However, demand for Arrhythmia monitoring devices in the region had substantial impact on the adoption of Holter ECG.

FUKUDA DENSHI; General Electric Co; EB Neuro S.P.A.; Koninklijke Philips NV; Viatom Technology Co., Ltd.; Nihon Kohden Corp; BPL Medical Technologies; OSI Systems, Inc.; Hill rom Holding Inc. (Baxter); and SCHILLER Americas Inc. are the key companies operating in the Holter ECG market.

Holter ECG Market, by Region, 2022 (%)

The Holter ECG market is segmented on the basis of component, application, end user, indication, channel, and country. Based on component, the market is segmented into products, software & solutions, services, and accessories. The products segment is further bifurcated into wired Holter monitors and wireless Holter monitors. Based on application, the market is bifurcated into diagnostics and monitoring. Based on indication, the market is segmented into atrial fibrillation (AF), cardiac arrest, patients with pacemakers, and others. Based on channel, the market is segmented into 3 channel ECG system; 5,6 & 7 channel ECG system; 12 channel ECG system; and others. Based on end user, the market is segmented into hospitals & clinics, home settings, ambulatory surgical centers, and others.

In terms of geography, the pulmonary arterial hypertension market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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