Canada Mobile Cardiac Telemetry (MCT) Market, By Type (Multi-Channel, and Single-Channel), Technology (Lead Based, Patch Based, and Flex Based), Cellular Connection (Wireless (WIFI), and Bluetooth (BT)), Indication (Angina Pectoris, Bradycardia Arrhythmias, Myocardial Infarction, Atrial Flutter, Pre-Mature Ventricular Contractions, Ventricular Tachycardia, Control Atrial Fibrillation, Atherosclerosis, Heart Failure, and Others), End User (Home Healthcare, Hospitals, Independent Diagnostic Testing Facility (IDTF), Cardiac Centers, Ambulatory Surgical Centers, and Others), Distribution Channel (Direct Sales, and Others) – Industry Trends and Forecast to 2031.
Canada Mobile Cardiac Telemetry (MCT) Market Analysis and Size
According to the centres for disease control and prevention (CDC), an estimated 12.1 million individuals are projected to experience atrial fibrillation (AFib) by 2030, with 183,321 U.S. death certificates citing AFib in 2019. In response, industry players are innovating micro-sized devices, particularly in the mobile cardiac telemetry (MCT) market, to maintain market appearance.
Data Bridge Market Research analyses that the Canada mobile cardiac telemetry (MCT) market which was USD 2.57 billion in 2023, is expected to reach USD 6.01 billion by 2031, and is expected to undergo a CAGR of 11.2% during the forecast period of 2024 to 2031. This indicates that the market value. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Canada Mobile Cardiac Telemetry (MCT) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Multi-Channel, and Single-Channel), Technology (Lead Based, Patch Based, and Flex Based), Cellular Connection (Wireless (WIFI), and Bluetooth (BT)), Indication (Angina Pectoris, Bradycardia Arrhythmias, Myocardial Infarction, Atrial Flutter, Pre-Mature Ventricular Contractions, Ventricular Tachycardia, Control Atrial Fibrillation, Atherosclerosis, Heart Failure, and Others), End User (Home Healthcare, Hospitals, Independent Diagnostic Testing Facility (IDTF), Cardiac Centers, Ambulatory Surgical Centers, and Others), Distribution Channel (Direct Sales, and Others)
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Market Players Covered
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BIOTRONIK (Germany), Biotricity (U.S.), Zio by iRhythm Technologies, Inc. (U.S.), Canadian Cardiac Care (Canada), Corvitals (U.S.), ACS Diagnostics (U.S.), Hill-Rom Services, Inc.(U.S.), Infobionic (U.S.), MEDICALGORITHMICS.COM (Poland), Medtronic (Ireland), Medeia (France), Laboratory Corporation of America Holdings (U.S.), ScottCare Corporation (U.S.), Abbott (U.S.), and BioTelemetry (U.S.)
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Market Opportunities
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Market Definition
Mobile cardiac telemetry (MCT) is a form of remote cardiac monitoring that utilizes wearable devices to continuously record and transmit a patient's heart rhythm data to a monitoring center. This technology enables real-time detection of arrhythmias, such as atrial fibrillation, providing valuable insights for diagnosis and treatment of heart conditions.
Canada Mobile Cardiac Telemetry (MCT) Market Dynamics
Drivers
- Growing Incidence of Cardiovascular Diseases
The rising global incidence of cardiovascular diseases fuels demand for advanced cardiac monitoring solutions such as mobile cardiac telemetry (MCT). Offering continuous remote monitoring capabilities, MCT addresses the need for proactive heart health management. This trend underscores the importance of innovative technologies in combating cardiovascular ailments on a broader scale.
- Preference for Non-invasive Monitoring
Patients increasingly favor non-invasive monitoring methods, spurring the adoption of mobile cardiac telemetry (MCT) devices. MCT enables continuous monitoring of cardiac health without invasive procedures, aligning with patient preferences for comfort and convenience. This non-invasive approach contributes significantly to the growing acceptance and utilization of MCT technology in healthcare.
Opportunities
- Rise in Remote Patient Monitoring (RPM) Programs
Healthcare providers are increasingly implementing remote patient monitoring (RPM) programs to manage chronic conditions and minimize hospital readmissions. Mobile cardiac telemetry (MCT) devices are integral to these initiatives, enabling continuous heart monitoring remotely. This trend fuels the growth of the MCT market, addressing the need for effective cardiac care outside traditional healthcare settings.
- Rising Aging Population Creates Demand for Cardiac Monitoring Solutions
As the population ages, the demand for cardiac monitoring solutions such as mobile cardiac telemetry (MCT) rises significantly. Elderly individuals are more prone to cardiac issues, driving the need for continuous monitoring. This demographic shift fuels the expansion of the MCT market, as healthcare providers seek effective ways to manage cardiovascular health in aging populations.
Restraints/Challenges
- Data Security Concerns Eroding Patient Trust
Data security concerns in mobile cardiac telemetry (MCT), involving continuous monitoring of sensitive patient data, can hinder market growth by eroding patient trust, leading to reluctance in adopting MCT solutions and reluctance among healthcare providers due to regulatory compliance burdens.
- High Cost of Devices and Services
The significant initial cost of mobile cardiac telemetry (MCT) devices, coupled with ongoing service fees, restricts adoption, especially in regions with constrained healthcare budgets, hindering widespread market penetration and accessibility to this vital cardiac monitoring technology.
The Canada mobile cardiac telemetry (MCT) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Canada mobile cardiac telemetry (MCT) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2021, Laboratory Corporation of America Holdings was honored in Fast Company's "2021 Most Innovative Companies" list, highlighting its excellence in science, innovation, and healthcare. LabCorp's significant contributions in combating COVID-19 through advanced testing underline its commitment to global health. This dedication extends to its role in advancing technologies such as mobile cardiac telemetry (MCT) in healthcare solutions
- In 2021, VitalConnect launched the VitalPatch RTM, a mobile cardiac telemetry solution tailored for diverse cardiac monitoring requirements. Featuring a versatile and customizable platform, it exemplifies innovation in the field of mobile cardiac telemetry (MCT), addressing evolving healthcare demands with advanced technology
- In 2020, BioTelemetry demonstrated its dedication to advancing patient care amid the COVID-19 pandemic by expanding its mobile cardiac outpatient telemetry (MCOT) program to monitor COVID-19 patients' QT prolongation risk, particularly concerning hydroxychloroquine treatment, across various U.S. institutions
Canada Mobile Cardiac Telemetry (MCT) Market Scope
The Canada mobile cardiac telemetry (MCT) market is segmented on the basis of type, technology, cellular connection, indication, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Multi-Channel
- Single-Channel
Technology
- Lead Based
- Patch Based
- Flex Based
Cellular Connection
- Wireless (WIFI)
- Bluetooth (BT)
Indication
- Angina Pectoris
- Bradycardia Arrhythmias
- Myocardial Infarction
- Atrial Flutter
- Pre-Mature Ventricular Contractions
- Ventricular Tachycardia
- Control Atrial Fibrillation
- Atherosclerosis
- Heart Failure
- Others
End User
- Home Healthcare
- Hospitals
- Independent Diagnostic Testing Facility (IDTF)
- Cardiac Centres
- Ambulatory Surgical Centres
- Others
Distribution Channel
- Direct Sales
- Others
Healthcare Infrastructure growth Installed base and New Technology Penetration
The Canada mobile cardiac telemetry (MCT) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Canada mobile cardiac telemetry (MCT) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Canada mobile cardiac telemetry (MCT) market. The data is available for historic period 2016-2021.
Competitive Landscape and Canada Mobile Cardiac Telemetry (MCT) Market Share Analysis
The Canada mobile cardiac telemetry (MCT) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Canada mobile cardiac telemetry (MCT) market.
Some of the major players operating in the Canada mobile cardiac telemetry (MCT) market are:
- BIOTRONIK (Germany)
- Biotricity (U.S.)
- Zio by iRhythm Technologies, Inc. (U.S.)
- Canadian Cardiac Care (Canada)
- Corvitals (U.S.)
- ACS Diagnostics (U.S.)
- Hill-Rom Services, Inc. (U.S.)
- Infobionic (U.S.)
- MEDICALGORITHMICS.COM (Poland)
- Medtronic (Ireland)
- Medeia (France)
- Laboratory Corporation of America Holdings (U.S.)
- ScottCare Corporation (U.S.)
- Abbott (U.S.)
- BioTelemetry (U.S.)
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