Holter ECG Market Size - Product Type (Continuous Monitors, Intermittent Monitors), By Modality (Wired Holter Monitors {3 Lead Holter Monitors, 12 Lead Holter Monitors}, Wireless Holter Monitors), By End-use, & Forecast, 2023 – 2032

Industry Analysis

Holter ECG market size was valued at around USD 1.3 billion in 2022 and is projected to register over 10.7% CAGR between 2023 to 2032. This is primarily attributed to several variables comprising the growing prevalence of cardiac ailments and the rise in demand for Holter monitors.
 

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In developing nations, the prevalence of cardiac diseases is highest due to socioeconomic status and people living a sedentary lifestyle. This increasing prevalence of heart disease is anticipated to drive market size. Cardiovascular disease is the leading cause of death globally that in turn leads to the increasing demand for wearable cardiac monitoring devices in hospitals and ambulatory surgical centers. Additionally, the severe health concerns associated with cardiovascular diseases are anticipated to stimulate the demand for testing.
 

A Holter ECG monitor is a small, wearable device that records the heart's rhythm. It's used to detect or determine the risk of irregular heartbeats (arrhythmias). It records the electrical activity of the heart continuously over 24 hours or longer remotely. Electrodes (small, plastic patches that stick to the skin) are placed at certain points on the chest and abdomen. The electrodes are connected to an ECG machine by wires. Then, the electrical activity of the heart can be measured, recorded, and printed.
 

However, the stringent regulatory framework related to Holter ECG devices may hamper the market revenue. The U.S. FDA has rigid regulatory compliances and complex approval procedures that may obstruct the market progress. The majority of Holter ECG monitors need a premarket notification, or 510(k) process prior to their commercialization in the market. Such stringent product regulations may lead to penalties and loss of market access in a global marketplace.
 

COVID-19 Impact

The COVID-19 outbreak aroused as an unprecedented public health concern across the globe and has positively impacted the Holter ECG market. According to the National Institute of Health, myocardial injury appeared to be a common complication in COVID-19 patients. Additionally, a meta-analysis of six published studies found that a considerable number of patients with COVID-19 had related cardiac damage. The usage of wearable cardiac monitors comprising Holter ECG devices was rising at a significant pace owing to multiple advantages such as smaller size, portability, convenience, and precise outcomes among others. Novel Holter ECG monitors were capable of recording the electrical activity of the heart continuously in any low-resource setting and were needed to adequately combat the COVID-19 pandemic.
 

Further, the World Health Organization (WHO) was functioning in association with business players, government bodies, and Pandemic Supply Chain Network among others to boost the production of such Electrocardiograph devices to meet increasing worldwide demand for critically affected and at-risk nations. Thus, this global pandemic has boosted the production and direct sales of Holter ECG products across the globe.
 

Holter ECG Market Trends

The rising prevalence of cardiac diseases is one of the major factors propelling the industry landscape. According to the World Health Organization Report 2021, around 17.9 million people die from cardiovascular disease each year and 85% of these deaths are due to stroke and heart attacks. The increasing incidence of such diseases fuels the demand for cardiac diagnosis & monitoring procedures. Among these, tachycardia is one of the major precursors that promote the disease burden and inflict significant mortality rates. The increasing incidence & prevalence of this condition, along with its sub-sets such as atrial fibrillation, ventricular tachycardia, supraventricular tachycardia (SVT), and ventricular fibrillation is set to foster the business expansion.
 

Holter ECG Product Type Segmentation

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Based on product type, the Holter ECG market is segmented as continuous monitors and intermittent monitors. The continuous monitors segment was valued at over USD 846 million in 2022. This driven by significant technological advancement and an increase in the awareness of benefits related to the use of continuous Holter ECG monitors. The biggest advantage of a Holter monitor is that it is a portable & wearable device that can be easily worn by patients for a specified amount of time while continuing with their routine activities. These devices are highly recommended by doctors to track the heart’s rhythm during routine tasks or hospitalization.
 

As per the research studies, continuous Holter ECG monitoring can serve as a diagnostic tool for several cardiac conditions including atrial fibrillation, ventricular tachycardia, and cardiac arrhythmias among others. Moreover, according to the Cardiovascular Institute of America, one of the key advantages of this device is that it’s non-invasive as there are no incisions or breaks in patients skin and shows every heartbeat that can be the cause of cardiac disease. In the coming years, the popularity of Holter ECG monitors will produce even greater amounts of data in real-time through the integration of big data and artificial intelligence that will effectively reduce the mortality of CVD.
 

Holter ECG Modality Segmentation

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Based on modality, the Holter ECG market is segmented as wired Holter monitors and wireless Holter monitors. The wired Holter monitors segment surpassed USD 1 billion in 2022. This is owing to the growing technological advancements in wired Holter monitors, increase in R&D activities, and surging adoption of minimally invasive devices among others. The new generations Holter ECG devices are allowing the direct transmission of remote cardiac monitoring data.
 

Market players are focusing on the designing of sleek & efficient recorder for patient comfort & for streamlined workflow as per the individual patient requirements. Improving set-up features comprising simple navigation buttons, large on-board display, automatic power on self-test, and lightweight design is assisting in faster operation along with enhanced comfort. Intelligent Holter monitors are helping to detect irregular heartbeat that are difficult to identify at regular check-ups. AI-ECG analysis is transforming the cardiac monitoring area through fragmenting to analysing data and generating reports.  
 

Holter ECG End-use Segmentation

Based on end-use, the Holter ECG market is segmented as hospitals, ambulatory surgical centers, and others. The hospitals segment is projected to reach more than USD 2 billion by 2032. The soaring use of novel wearable cardiac devices in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of Holter ECG recorder that supports continuous monitoring with proven accuracy is set to drive product preference in hospitals. Growing admissions with cardiac ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively.
 

Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective precise cardiac monitoring coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals.
 

Holter ECG Regional Analysis

The U.S. dominated the North America Holter ECG market with a significant market share in 2022 and is anticipated to expand at a considerable pace to reach USD 1,480 million by 2032. This majority market share is attributed to several factors such as the presence of major industry players, an upsurge in the demand for cardiovascular continuous monitoring services, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others. As per the American Heart Association data 2022, the age adjusted death-rate attributable to cardiovascular diseases was 224.4 per 100,000 population.
 

Moreover, the U.S. is one of the leading nations in terms of heart care initiatives and the government has employed several guidelines to bolster heart comprising the Million Hearts initiative. These initiatives adopted by the public as well as private organizations would further promote the demand for Holter ECG to maintain precise heart health and physical & mental wellbeing among cardiac patients.
 

Holter ECG Industry Leaders

Some of the major market players operating in the Holter ECG market are AliveCor, Inc., Bardy Diagnostics, Inc., BPL Medical Technologies, Cardiac Insight Inc., Fukuda Denshi Co Ltd., and GE Healthcare among others. Major market players are adopting strategic formulations such as forward integration, new product development, geographical expansion, and research collaborations to garner maximum industry share and promote company growth.
 

Holter ECG Industry News:

• In November 2021, Philips expanded its cardiac diagnostics and monitoring portfolio with the acquisition of Cardiologs. This included real-time patient monitoring, therapeutic devices, telehealth and informatics for the hospital, as well as ambulatory cardiac diagnostics and monitoring solutions, that were added through the recent acquisition of BioTelemetry, Inc. As a result, the acquisition of Cardiologs promoted Philips’ existing portfolio of cardiac care solutions.
   
• In May 2021, iRhythm Technologies announced the U.S. FDA approval for its new Zio monitor along with updated artificial intelligence (AI) capabilities. This devices is designed to significantly improve patient comfort while the advancements to its AI capabilities further improve rhythm and beat diagnostic accuracy. This strategic move assisted the company in bolstering its product portfolio and offered a competitive edge.
   

Holter ECG market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) and volume (units) from 2018 to 2032 for the following segments:

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By Product Type, 2018 - 2032 (USD Million & Units)

• Continuous Monitors
• Intermittent Monitors

By Modality, 2018 - 2032 (USD Million)

• Wired Holter Monitors
  • 3 Lead Holter Monitors
  • 12 Lead Holter Monitors
  • Others
• Wireless Holter Monitors

By End-use, 2018 - 2032 (USD Million)

• Hospitals
• Ambulatory Surgical Centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Indonesia
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Turkey
  • Iran