ECG monitoring devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems. According to a new report by Persistence Market Research (PMR), titled, “Holter Monitoring Systems Market: Global Industry Analysis and Forecast, 2016-2024”, this is attributed to advantages such as patient mobility, low prices, and longer period of patient monitoring.
Holter monitoring systems are proving to be more efficient in ECG monitoring due to advancements in technology, thereby allowing healthcare providers to monitor recorded data remotely, and enhancements in Holter monitoring software, which enable better analysis of data. These factors are expected to promote drive growth of the global Holter monitoring systems market at a CAGR of 4.5 % between 2016 and 2026.
PMR’s report offers market forecast and analysis on the global Holter monitoring systems market. The global market has been segmented on the basis of product, end–user, and region. On the basis of region, the market has been segmented into North America, Latin America, Europe, Middle East & Africa (MEA), and Asia Pacific (APAC).
As per regional analysis, North America (the U.S. and Canada) is the most lucrative market for Holter monitoring systems globally. This region is expected to hold highest market share over the forecast period (2016–2026) and is expected to exhibit more than average growth rate.
Key Findings of the Report:
- To investigate the competitive landscape – product launches, expansions, collaborations and acquisitions in the market.
- To analyze and research the global market landscape and growth outlook, which includes, revenue, production, consumption, historical and forecast.
- To recognize important drivers, restraints, opportunities, and threats (DROT Analysis)(SWOT Analysis).
- To tactically examine the growth pattern and contribution to the market of every segment.
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The market in Asia Pacific is expected to witness fastest growth owing to high population and increasing incidence rate of cardiovascular diseases. APAC market is estimated to account for around 27 % revenue share by end of 2016 in the global Holter monitoring systems market.
The market in MEA is also expected to expand significantly in revenue terms over the forecast period, owing to high public healthcare expenditure in countries in the region. Revenue from the market in the region is expected to expand at CAGR of 5.2% over the forecast period.
On the basis of product, the global Holter monitoring systems market has been segmented into Holter monitoring devices, event monitoring devices, and Holter monitoring software segments. Holter monitoring devices segment is expected to remain the dominant segment in the global market throughout the forecast period. This is attributed to high adoption rate of these devices globally.
On the basis of end user, the Holter monitoring systems market has been segmented into hospitals, diagnostic centers, clinics, and ambulatory surgical centers (ASCs). PMR estimated the hospitals segment to account for highest revenue share among other end user segments, and it is expected to witness fastest growth over the forecast period.
Factors such as increasing number of private hospitals in developing countries is expected to boost revenue share of the hospitals segment. Diagnostic centers segment is also expected to gain significant market share during the forecast period.
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The report discusses various factors positively impacting growth of the global Holter monitoring systems market such as increasing healthcare expenditure, key strategies of market players, regional reimbursement policies, and others.
Some key market participants included in the report are
- GE Healthcare
- Koninklijke Philips N.V
- Welch Allyn (Hill-rom Company, Inc.)
- Schiller AG
- Fukuda Denshi Co. Ltd.
- Nihon Kohden Corporation, Mortara Instrument, Inc.
- Spacelabs Healthcare, Inc.