Published: May, 2017
The global cardiac Holter monitor market is dominated by players with a wide-ranging product portfolio and extensive global distribution. GE Healthcare, Schiller, and Koninklijke Philips N.V. are likely to collectively account for around 50% of the global cardiac Holter monitor market in the coming years. Other leading companies in the global cardiac Holter monitor market are Spacelabs Healthcare, Biomedical Instruments Co. Ltd., LifeWatch AG, Welch Allyn, Fukuda Denshi, and Nasiff Associates Inc. Geographical expansion to gain access to new markets and consumer demographics is likely to be a prime competitive strategy pursued by players in the global cardiac Holter monitor market.
According to Transparency Market Research (TMR), the global cardiac Holter monitor market is expected to rise to a valuation of US$518.9 mn by the end of 2024.
Rising Preference for Self-management of Cardiac Diseases Leads to Rising Demand for Cardiac Holter Monitors
The key driver for the global cardiac Holter monitor market is the rising prevalence of cardiac conditions such as bradycardia, cardiac arrhythmia, and atrial fibrillation. The rising adherence to a sedentary lifestyle among the global population has been the key factor propelling the incidence of such cardiovascular disorders and is thus likely to impact the global cardiac Holter monitor market in the coming years. Cardiac Holter monitors are used to monitor and record a patient’s heartbeat patterns, which allows physicians to keep a constant eye on the development of the problem.
The rising preference to preventative rather than curative medicine has thus helped the global cardiac Holter monitor market. Since cardiac Holter monitors don’t need supervision, patients can operate them themselves, making the device a convenient way of tracking cardiac patterns.
The increasing government support to awareness initiatives regarding the risk of and management options regarding cardiovascular diseases is also likely to have a lasting positive impact on the global cardiac Holter monitor market. In addition, the steady incorporation of technological advances into cardiac Holter monitors has also helped pave the way for steady growth of the global cardiac Holter monitor market.
North America Set to Retain Dominance in Global Cardiac Holter Monitor Market
Geographically, the global cardiac Holter monitor market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America is likely to remain the dominant market for cardiac Holter monitors in the coming years. The rising public support to noninvasive medical technologies is a key driver for the cardiac Holter market in North America, along with the steady inflow of public funding for research in cardiac disorders. The incorporation of wireless connectivity in cardiac Holter monitors through Bluetooth and other means has also helped its adoption in North America. Nevertheless, the rising risk of cardiac disorders and the increasing efforts from the WHO in Asia Pacific are likely to make it an important regional market for cardiac Holter monitors in the coming years.
On the basis of product type, 3 channel cardiac Holter monitors are the dominant segment of the global cardiac Holter monitor market. Other leading segments include 12 channel cardiac Holter monitors, which are likely to retain a significant share in the global cardiac Holter monitor market in the coming years. The high recording capacity of 12 channel cardiac Holter monitors is the key property ensuring steady growth in their demand.
The information in this previews comes from a Transparency Market Research report titled ‘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.’
The global cardiac holter monitor market has been segmented as given below:
Global Cardiac Holter Monitor Market, by Product Type,
Global Cardiac Holter Monitor Market, by End-user
- Ambulatory Surgical Centres
- Homecare Settings
Global Cardiac Holter Monitor Market, by Region
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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