The global holter monitor market is one of the fastest-growing segments of the ambulatory cardiac monitoring devices market. The market is growing significantly due to the growing incidence/prevalence of arterial fibrillation (AF) and associated risk of stroke and CVDs across the world. The rising awareness among patients of continuous ECG recording and the increasing availability of several effective ambulatory monitoring devices is a major driver for market growth. The rapid rise in advanced monitoring devices that combine the benefits of continuous ECG recording while simultaneously allowing to perform day-to-day activities increases market growth.
The COVID-19 pandemic has spread rapidly across the world. The increased strain of the disease has placed healthcare systems worldwide under tremendous pressure. The pandemic is likely to have a profound impact on the holter monitor market in several countries. Continuous ECG monitoring, along with automated blood pressure readings and oxygen saturation monitors instead of standard vital signs monitoring checks to minimize coronavirus transmission, has led to increased demand for holter monitoring systems.
- APAC is expected to witness the highest growth rate over the forecast based on increased public and private healthcare initiatives.
- The 3-channel segment is likely to observe an incremental growth of close to $150 million by 2025 due to the commercial availability of a wide range of Holter monitors.
- The growing focus on inorganic growth and alliance strategies is a major strategy witnessed in the global Holter monitors market.
GLOBAL HOLTER MONITOR MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Monitoring Capacity
INSIGHTS BY CHANNELS
In 2019, the 3 channels segment accounted for the largest share with over 48%. 3 channels recording highly improves the efficiency of healthcare operations in hospitals and specialized cardiac centers. Multiple tracings with 3 channels devices could be run off, eliminating costly and time-consuming electrostatic copying. With the increasing burden of ambulatory ECGs in healthcare facilities, 3 channels holter monitor equipment have become crucial in improving operational efficiency, thereby driving the segment's growth.
12-channel holter monitor devices can record and display 12 waveforms simultaneously. In these devices, all 12 channels of the ECG are displayed in a single slot. The segment constitutes a low market share than 3 channels segment as the adoption of these devices is low. Although 2/3 channels recording in holters have been in practice for a long period, 12 channels devices have recently appeared. Innovations, including the inclusion of the triaxial movement sensor, which records the patient's physical activity, and on examination and software processing, extract three-movement statuses, such as sleeping, standing up, or walking, is likely to drive the growth of the segment.
INSIGHTS BY MONITORING CAPACITY
The up to 7 days segment accounted for the maximum market share due to 7 days holters’ accurate and effective clinical results for diagnosing arrhythmia and associated disorders. Arterial fibrillation (AF) screening after stroke with up to 7 days holter monitoring is a routine screening tool. The growing prevalence of arrhythmia, particularly AF, is associated with increased disability and mortality over the past few decades. Hence, to prevent the same, the demand for holters has been growing significantly over the decades. Due to their procedural success rates and the growing patient pool of cardiac and cardiovascular diseases, many keys and other prominent players have developed advanced holter monitor devices with up to 7 days of recording capacities.
The above 7 days segment is expected to grow at a CAGR of over 8% during 2019–2025. The segment includes a new generation of holter monitor equipment. Technological advancements have allowed extended recording time of up to 30 days to few months with ultralight, attachable to the skin with adhesive, wireless electrodes. Such advanced holter monitor devices offer patients more freedom for daily activities. They can transmit data with the help of a digital platform such as a mobile application in electronic records to HCPs. The use of advanced algorithms to fetch additional data from continuous recording, which enables better statistical analysis with the help of a dedicated holter analyzing software, is expected to influence the segment growth.
INSIGHTS BY END-USER
In 2019, the hospital end-user segment accounted for over 48% of the global holter monitor market. Healthcare professionals in hospitals use these devices for monitoring symptoms associated with arrhythmia. The market is growing at a healthy rate due to the high adoption of the latest generation of holter monitor devices. The majority of patients with a high risk of heart disease prefer visiting hospitals for diagnosis and treatment due to advanced infrastructure facilities in major private and public hospitals.
The specialty cardiac centers segment provides exclusive healthcare services to patients with suspected or diagnosed cardiac diseases. These centers are solely dedicated to treating patients suffering from several cardiac ailments, such as structural heart diseases. This is due to the availability of sophisticated infrastructure related to the diagnosis and treatment of cardiac disorders in standalone cardiology centers compared to hospitals. The segment is the fast-growing end-user segment growing at a CAGR of 9%.
INSIGHTS BY GEOGRAPHY
In 2019, North America accounted for a 40% share of the global Holter monitoring systems market. The region has the highest share globally and is likely to witness the highest incremental growth during the forecast period. The US is the major revenue contributor to the holter monitor market in North America and accounted for the highest share in 2019. Canada is also likely to experience healthy growth during the forecast period. The growth in North America is mainly attributed to the increasing incidence of AF, cardiac diseases, surge in diagnosis procedures, the availability of advanced healthcare infrastructure and constant technological innovations, and growing acceptance for technologically advanced ECG devices. The prevalence of AF has been growing in the region over the years. Similarly, the increase in the prevalence of several health risk factors, such as high BP, smoking, lack of physical activities, obesity, and diabetes, contributes to the prevalence of CVDs.
INSIGHTS BY VENDORS
The global holter monitor market is highly competitive and fragmented with global, regional, and local players offering a broad range of conventional and the latest holter monitor equipment for end-users. GE Healthcare, Koninklijke Philips, iRhyhm Technologies, Hillrom, and BioTelemetry are the key vendors in the market. These companies have a wide geographic footprint, diversified product portfolio, and a strong focus on product innovation, strategic mergers & acquisitions, and R&D activities. Vendors, especially global players, are increasingly focusing on pursuing inorganic growth strategies such as M&A and emerging companies to expand their presence, enhance product portfolio, and improve expertise in the market. Such inorganic initiatives will complement vendors’ organic growth strategies, thereby gaining traction among end-users in the market.
The holter monitor market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by Channel
- 3 Channels
- 12 Channels
By Monitoring Capacity
- Up to 7 Days
- Above 7 Days
- Specialty Cardiac Centers
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa