Cardiac Holter Monitor Market
Cardiac Holter Monitor Market (Product - 1-Channel, 2-Channel, 3-Channel, and 12-Channel; End User - Hospitals, Ambulatory Surgical Centers, Clinics, and Homecare Settings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Cardiac Holter Monitor Market: Snapshot
Cardiac Holter monitors are used for recording heart’s electrical activities. The device operates on a small battery to records heart rhythm for 24-48 hours. The Holter monitor device consists of a recorder, for recording the heart’s rhythm and a software, which is utilized to interpret the recorded data. The cardiac Holter monitor is most commonly used to diagnose and analyze cardiac arrhythmia, atrial fibrillation, and bradycardia. Rise in government funding to create awareness about cardiovascular disorders and its prevention, shift of population towards preventive healthcare, and investments in research and development of advanced diagnostic devices are the key drivers in the global market.
Integration of Latest Technologies in Cardiac Holter Monitors Boosts Demand
In light of these reasons, the global cardiac Holter monitor market is expected to be worth US$518.9 mn by the end of 2024 as compared to US$293.8 mn in 2015. During the forecast period of 2016 and 2024, the global market is expected to expand at a CAGR of 6.6%. Despite the headstrong market drivers, the global market is likely to be challenged by the high cost of devices, error in signal processing, and lack of trained and qualified staff for appropriate usage of the devices. Be as that may, incorporation of wireless and Bluetooth technology in the cardiac holter, shifting of manufacturers’ approach towards customer centric development of products are the some of the trends that are likely to benefit the global market in the coming years.
Based on product type, the global cardiac holter monitor market is classified as 1 channel, 2 channel, 3 channel, 12 channel, and others. The others segment includes 4 channel, 5 channel, 7 channel, and 10 channel cardiac holters. The 3 channel holters held the largest share in 2015 due to rising prevalence of cardiovascular disorders, rising geriatric population, and improved reimbursement policies. The segment is anticipated to remain dominant in the market along with 12 channel segment in the forecast period. The major factors responsible for the rise are increasing needs and demands by cardiologists for technologically compatible and efficient diagnostic devices and improved signal recording efficiency of 12 channel holter.
With Increasing Investments in Research and Developments, North America Assumes Lead
Geographically, the global cardiac holter monitor market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America accounted for the largest share of cardiac holter market in 2015, due to increasing patients’ preference towards minimally invasive diagnostic tools and improved government funding for cardiovascular disorder treatments. North America is expected to remain dominant in the cardiac holter monitor market, which is attributed to the investments being made by key players in medical devices industry, and consistent rise in incidences of cardiovascular disorders in North America. Asia Pacific is anticipated to be the fastest growing segment, with highest CAGR in the coming years. Rising prevalence of cardiac arrhythmia & atrial fibrillation, various programs for the prevention of cardiovascular disorders conducted by WHO are the factors responsible for the high growth rate of Asia Pacific region in the forecast period.
The key players operating in the global cardiac holter monitor market are GE Healthcare, FUKUDA DENSHI, Koninklijke Philips N.V., Spacelabs Healthcare, Welch Allyn, Schiller, BTL, Nasiff Associates, Inc., LifeWatch AG, Biomedical Instruments Co., Ltd., and The ScottCare Corporation. To stay ahead in the robust competition, the key players in the market are involved in incorporating technologically advanced and novel features in their products.
Global Cardiac Holter Monitor Market: Overview
This report on the Global Cardiac Holter Monitor market analyzes the current and future scenario of the global market. Rise in prevalence of cardiovascular disorders, patients’ preference for minimally invasive diagnostic techniques, and rising demands for technologically innovative medical devices are boosting the growth of the Global cardiac holter monitor market. Rising geriatric population and increasing investments in healthcare industries for R&D and manufacturing of holter monitors are some of the factors expected to drive the growth of Global cardiac holter monitor market during the forecast period.
The Cardiac holter monitor market report comprises an elaborate executive summary, which includes market snapshot that provides information about various segments. It also provides information and data analysis of the global market with respect to the segments based on product type, end-user, and geography. A detailed qualitative analysis of drivers and restraints, and opportunities has been provided in the market overview section. Additionally, the section comprises Porter’s Five Forces Analysis to help understand the competitive landscape in the market. This section also provides market attractiveness analysis in terms of geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the Global cardiac holter monitor market.
Global Cardiac Holter Monitor Market: Segmentation Analysis
Based on product type, the market has been segmented into 1-Channel, 2-Channel, 3-Channel, 12-Channel, and Others. 3-Channel and 12-Channel are projected to be lucrative segments of the cardiac holter monitor market, due to increasing government initiatives for cardiovascular disorder awareness programs. The segments are expected to grow at a highest CAGR rate during forecast period. The market segments have been analyzed based on cost-effectiveness of the product types, prevalence of the diseases, and growing demand for the ECG monitoring devices. The market size and forecast for each of these segments have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year.
Different types of end-users are present in the cardiac holter monitor market. The end-users are Hospitals, ambulatory surgical centers, clinics, and homecare settings. Under the end-user segment, hospital segment accounted for the largest share of the Global cardiac holter monitor market in 2015 & is expected to dominate the market by 2024.
Global Cardiac Holter Monitor Market: Regional Outlook
Geographically, the global Cardiac holter monitor Market has been categorized into five major regions and the key countries in the respective region: North America (U.S. and Canada), Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, Japan, China, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC Countries, and Rest of Middle East & Africa).
Key Players Mentioned in this Report are:
The report also profiles major players in the Global cardiac holter monitor market based on various attributes such as company overview, financial overview, product portfolio, business strategies, SWOT analysis, and recent developments. Major players profiled in this report include GE Healthcare, FUKUDA DENSHI, Koninklijke Philips N.V., Spacelabs Healthcare, Welch Allyn, Schiller, BTL, Nasiff Associates, Inc., LifeWatch AG, Biomedical Instruments Co.,Ltd., and The ScottCare Corporation.
The global cardiac holter monitor market has been segmented as given below:
by Product Type