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Holter Monitoring Systems Market Huge Growth in Future Scope 2021-2028 | Koninklijke Philips N.V., Welch Allyn


Holter Monitoring Systems Market

Holter monitoring systems have been found to provide timely assessment and treatment of ventricular tachycardia

SEATTLE, WASHINGTON, UNITED STATES, December 7, 2021 /EINPresswire.com/ — Holter monitoring systems have been found to provide timely assessment and treatment of ventricular tachycardia, ventricular fibrillation, ventricular rhythm abnormalities and arrhythmias in a majority of patients with cardiogenic shock. This innovative and advanced technology allows the quick assessment and treatment of ventricular tachycardia, ventricular fibrillation and arrhythmias in the process of their onset. These advances have increased the quality of care provided to patients in large hospitals, mid-sized hospitals, and other health care settings. With the development of cutting-edge technology and an ever-increasing demand for safe and effective treatments, the global holter monitoring systems industry will continue to grow and expand at a rapid pace well into the future.

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Statistics:

The global Holter monitoring systems market is estimated to account for US$ 1,397.1 Mn in terms of value by the end of 2027.

Global Holter Monitoring Systems Market: Drivers

Growing prevalence of cardiovascular diseases (CVDs) is driving growth of the global Holter monitoring systems market. For example, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.

Additionally, growing aging population is also projected to uplift growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

North America region held leading position in the global Holter monitoring systems market in 2019, accounting for 34.6% share in terms of value, followed by 2027.

Global Holter Monitoring Systems Market: Restraints

Approval guidelines and insurance coverage policies related to the devices are weak in several countries, which is projected to restrict growth of the market. For instance, the average reimbursement for Holter monitoring study is estimated to be less than US$ 100, which is comparatively lesser than mobile cardiac telemetry reimbursement.

On the other hand, lack of expertise required for analysis of data in emerging countries is again expected hamper growth of the Holter monitoring systems market.

Global Holter Monitoring Systems Market: Opportunities

Increasing focus on development of expertise in handling of Holter monitoring systems is expected to offer lucrative growth opportunities for players in the market. For instance, NorthEast Monitoring, Inc., a U.S.-based company, offers training for Holter technology with its ambulatory cardiac hardware and software solutions.

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Moreover, growing number of public and private hospitals in emerging economies is again projected to support growth of the market. For example, according to Ministry of Health and Family Welfare, Government of India, the number of government hospitals in India increased from 35,416 in 2017 to 37, 725 in 2018.

Hospitals segment in the global Holter monitoring systems market was valued at US$ 529.0 Mn in 2019 and is expected to reach US$ 775.8 Mn by 2027 at a CAGR of 4.9% during the forecast period.

Market Trends/Key Takeaways

There is an integration of data management systems with Holter monitors to provide comprehensive electrocardiographs along with patient history, which can be accessed remotely.

Moreover, there is high demand for implantable cardiac monitors. An implantable loop recorder can allow for long-term heart rhythm monitoring and can provide more insights compared to Holter monitor.

Global Holter Monitoring Systems Market: Competitive Landscape

Major players operating in the global Holter monitoring systems market include, Koninklijke Philips N.V., Welch Allyn, Inc., Biotricity Inc., Bittium Corporation, Schiller AG, Shimmer, Fukuda Denshi Co., Ltd., Nihon Kohden Corporation, VivaQuant, and GE Healthcare.

Global Holter Monitoring Systems Market: Key Developments

Key players are increasing investment to expand their product portfolio. For instance, in December 2019, Biotricity Inc., a medical diagnostic and consumer healthcare technology company, raised US$ 6 million for FDA Filing for its patch solution within the first 6 months of 2020, which will be a novel product in the field of Holter monitoring.

Major players are also focused on introducing new products to expand their product portfolio. For instance, in November 2019, Bittium Corporation, a Finland-based cardiology and neurology device company, presented Bittium HolterPlus, a web-based remote cardiac monitoring solution, consisting of a Bittium Faros ECG device and Bittium HolterPlus mobile application, at Medica 2019, a leading international trade fair for the medical sector that was held in Germany.

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