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 new report by MarketsandMarkets™. The growing geriatric population, rising prevalence of cardiovascular diseases (CVD), awareness for early and continuous diagnosis, and technological advancements in wearable devices are also supporting this market growth.
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Wired Holter ECG segment is expected to account for the largest share in 2021.
Based on product, the Holter ECG market is segmented into wired Holter ECG monitors, wireless Holter ECG monitors, and software. The large share of this segment is due to the wide range of applications in heart activity monitoring and the cost efficiency of these devices.
The 12-lead segment held the largest market share in the Holter ECG market.
Based on lead type, the Holter ECG market is segmented into patch type 1-lead, 3-lead, 6-lead, 12-lead, and other lead types (such as 4-, 5-, and 7-lead Holter ECG monitors, among others). 12-lead ECG devices offer good clarity and precision in interpreting cardiac electrical activity due to the presence of a large number of leads.
North America dominates the global Holter ECG market
Based on the region segmentation, the Holter ECG market is divided into North America, Europe, Asia Pacific, Latin America, and Middle-East Africa. 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.
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Holter ECG Market Dynamics:
Drivers:
- Rising geriatric population
- Increasing prevalence of cardiovascular disease
- Technological advancements in wireless monitoring and wearable devices
- Increasing investments, funds, and grants for research on cardiac monitoring
Restraints:
- Frequent product recalls
Opportunities:
- Untapped emerging markets
Challenges:
- Stringent regulatory requirements delaying approval of cardiac devices
- Dearth of skilled professionals with expertise in handling cardiac monitoring devices
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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