Global ECG Patch and Holter Monitor Market, By Product (ECG Patch, Holter Monitors), Application (Diagnostics, Monitoring), End Use (Hospitals and Clinics, Ambulatory Facilities, Others) – Industry Trends and Forecast to 2031.
ECG Patch and Holter Monitor Market Analysis and Size
Patients have reported a wide range of arrhythmias during the pandemic, exacerbating the course of COVID-19 due to associated medications. Recent data from the American College of Cardiology shows that 16.7% of COVID-19 hospitalized patients in the United States experienced arrhythmias, and 7.20% had acute cardiac injury, in addition to COVID-19-related complications. The increasing disease burden has fueled demand for mobile monitoring devices, driving the global ECG patch and holter monitor market. The ECG patch is also gaining traction, offering similar capabilities to the holter monitor but with the added convenience of continuous monitoring and wireless connectivity. Both devices are crucial for detecting and analyzing cardiac arrhythmias such as atrial fibrillation and bradycardia, providing valuable insights into patients' heart health during these challenging times.
Data Bridge Market Research analyses that the global ECG patch and holter monitor market which was USD 1.44 billion in 2023, expected to reach up to USD 5.90 billion by 2031, and is expected to undergo a CAGR of 19.28% during the forecast period. “ECG Patch” dominates the type segment of the global ECG patch and holter monitor market owing to their convenience, comfort, and ability to provide continuous monitoring. 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.
Report Scope and Market Segmentation
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Report Metric |
Details |
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Forecast Period |
2024 to 2031 |
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Base Year |
2023 |
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Historic Years |
2022 (Customizable to 2016-2021) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
Product (ECG Patch, Holter Monitors), Application (Diagnostics, Monitoring), End Use (Hospitals and Clinics, Ambulatory Facilities, Others) |
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Countries Covered |
U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa |
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Market Players Covered |
Spacelabs Healthcare (U.S.), FUKUDA DENSHI (Japan), Nasiff Associates Inc. (U.S.), Koninklijke Philips N.V., (Netherlands), NIHON KOHDEN CORPORATION (Japan), Medtronic (Ireland), Hill-Rom Holdings, Inc. (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), BPL Medical Technologies (India), Boston Scientific Corporation (U.S.), CompuMed, Inc (U.S.), Meditech Equipment Co. Ltd (Meditech Group) (China), Nasan Medical Electronics Pvt. Ltd. (India), Nissha Co., Ltd. (U.S.), iRhythm Technologies, Inc. (U.S.), GE HealthCare (U.S.), AliveCor, Inc. (U.S.), VitalConnect (U.S.) |
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Market Opportunities |
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Market Definition
An ECG (electrocardiogram) patch is a small, wearable device that continuously monitors and records the electrical activity of the heart over an extended period, typically for several days up to a few weeks. It is usually worn on the chest and is used to diagnose various heart conditions, such as arrhythmias, atrial fibrillation, and other abnormalities.
A holter monitor, on the other hand, is a portable device that also records the heart's electrical activity, but typically for a shorter period, usually 24 to 48 hours. It is worn on a belt or shoulder strap and has electrodes attached to the chest. Holter monitors are often used to diagnose intermittent arrhythmias or to monitor heart function during daily activities.
Global ECG Patch and Holter Monitor Market Dynamics
Drivers
- Rising Prevalence of Cardiovascular Diseases
The increasing prevalence of cardiovascular diseases (CVDs), including atrial fibrillation (AF), arrhythmias, and heart failure, is a major driver of the global ECG patch and holter monitor market. These conditions require continuous or periodic monitoring to detect abnormalities in the heart's rhythm and function. For instance, AF, characterized by an irregular and often rapid heart rate, increases the risk of stroke and other complications. ECG patches and holter monitors can provide continuous monitoring, enabling healthcare providers to detect and diagnose AF early, leading to timely intervention and improved outcomes. Similarly, for arrhythmias and heart failure, continuous monitoring with these devices allows for early detection of changes in the heart's electrical activity and function, guiding treatment decisions and improving patient care.
- Increasing Aging Population
As the global population continues to age, there is a corresponding increase in the incidence of cardiovascular diseases (CVDs) and related conditions. Older adults are particularly vulnerable to these conditions due to factors such as age-related changes in the heart and blood vessels, and the presence of other age-related health issues. This demographic trend is expected to drive the demand for ECG patches and holter monitors, as older adults are more likely to require monitoring for heart-related issues.
Opportunities
- Increasing Adoption of Remote Patient Monitoring
Remote patient monitoring allows healthcare providers to monitor patients' heart health remotely, reducing the need for in-person visits and improving access to care, especially in rural or underserved areas. ECG patches and holter monitors are well-suited for RPM due to their ability to provide continuous monitoring and real-time data transmission, enabling timely intervention and better management of cardiovascular diseases.
- Integration of Wearable Technology
Wearable devices, such as smartwatches and fitness trackers, are increasingly popular among consumers for health and fitness monitoring. Integrating ECG monitoring capabilities into these devices can expand their functionality, making them more attractive to consumers and potentially increasing adoption rates. This integration can also benefit healthcare providers by providing them with access to a larger pool of patient data for analysis and monitoring, leading to more personalized and effective care.
Restraints/Challenges
- High Cost Associated with ECG Patches and Holter Monitors
ECG patches and holter monitors can be expensive, especially for patients who require long-term monitoring or frequent testing. This high cost can be a barrier to adoption, particularly in developing countries or for patients with limited financial resources. In addition, reimbursement policies for these devices can vary, further limiting access for some patients. As a result, the high cost of ECG patches and holter monitors can restrain market growth and hinder their widespread adoption, especially among populations with limited healthcare resources.
- Lack of Awareness and Education about ECG Patches and Holter Monitors
Many healthcare providers may not be familiar with the latest advancements in ECG patch and holter monitor technology or may not fully understand the benefits of using these devices for monitoring patients with cardiovascular diseases. Similarly, patients may be unaware of the availability of these devices or may not understand their importance in managing their heart health. This lack of awareness and education can lead to underutilization of ECG patches and holter monitors, limiting their market potential.
This global ECG patch and holter monitor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 global ECG patch and holter monitor market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In December 2022, Medtronic completed enrollment and concluded treatment in the SPHERE Per-AF Trial, an FDA-approved investigational device exemption (IDE) pivotal trial. This trial evaluated the safety and effectiveness of the Sphere-9 pulsed field (PF), radiofrequency (RF), and high-density (HD) mapping catheter in conjunction with the Affera cardiac mapping and navigation platform for treating persistent atrial fibrillation
- In November 2021, Koninklijke Philips N.V. completed the acquisition of Cardiologs, a French medical technology company. This acquisition enables Philips to leverage Cardiologs' AI model for interpreting data from a range of monitoring devices, such as ECG patches, Holter monitors, and smartwatches, to produce medical reports
Global ECG Patch and Holter Monitor Market Scope
The global ECG patch and holter monitor market is segmented on the basis of product, application, and end use. 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.
Product
- ECG Patch
- Holter Monitors
Application
- Diagnostics
- Monitoring
End Use
- Hospitals and Clinics
- Ambulatory Facilities
- Others
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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