Hyderabad, India -- (SBWIRE) -- 02/22/2023 -- ECG Patch and Holter Monitor Market

A Brief Introduction:
A Holter monitor is a tiny, wearable device that monitors the heartbeat. It detects the heart's small electrical signals and transmits them to the chest's surface. It is worn specifically to detect defects in the heart's functioning. Among the faults detected by the gadget are arrhythmias such as atrial fibrillation, tachycardia, and atrial flutter. Other than minor discomfort or skin irritation where the electrodes are inserted, there are no dangers connected with using a Holter monitor. The primary distinction between an electrocardiogram and Holter monitoring is that an electrocardiogram captures the cardiac beat for a few minutes, whereas Holter monitoring records the rhythm for 24 hours. This aids in the detection of arrhythmias that may only occur at specific periods.

Market Growth and Future Apprehension:
The most recent USD Analytics report predicted that the worldwide "ECG Patch and Holter Monitor Market" will expand at a CAGR 12.7% during 2023 to 2030.

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Market Dynamics:

Drivers:
The rise in the elderly population, rise in the incidence of heart stroke, spike in the number of patients suffering from hypertension, and rise in the prevalence of obesity are driving the expansion of the Holter ECG monitoring market. Furthermore, technical improvements and increased knowledge about the practical application of these devices are factors that contribute to the market's growth. Advanced Holter monitors with more sensitivity algorithms for automated detection of arrhythmias, on the other hand, provide the industry substantial growth potential.

Restraints:
However, a shortage of skilled personnel, insufficient healthcare infrastructure, and erratic reimbursement rules are projected to stymie industry expansion.

Market Segmentation:
The global ECG Patch and Holter Monitor Market segmented based on type, application, end user, region

By Type:
- ECG Patches
- Holter Monitor
By Application:
- Diagnostics
- Monitoring
By End User:
- Hospitals & Clinics
- Home Settings & Ambulatory Surgical Centers
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America

Component Insight:
The worldwide Holter monitoring market is divided into three components: wired Holter monitors, wireless Holter monitors, and Holter analysis systems and software. Due to technological advancements in Holter monitoring and increased adoption of Holter analysis software and systems that enable patients or physicians to upload ECG data through home computers or computers at local clinics, the wired Holter monitors segment was the major contributor to the global market in 2020 and is expected to remain dominant during the forecast period.

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End User Insight:
The global Holter ECG monitoring market is segmented by end user into hospitals & clinics, home settings & ambulatory surgical centres, and others. The hospitals & clinics segment was the largest contributor to the global market in 2020 and is expected to remain dominant during the forecast period, owing to an increase in Holter monitoring device adoption, an increase in the benefits of Holter monitoring, and an increase in the number of hospitals & clinics.

Competitive Landscape:
Some of the key firms contributing to market growth are
- Hill-Rom Holdings, Inc.
- GE Healthcare
- Koninklijke Philips NV
- iRhythm Technologies, Inc.
- Medtronic plc
- Cardiac Insight Inc.
- Nissha Medical Technologies
- Nihon Kohden Corporation
- Fukuda Denshi Co., Ltd.
- Spacelabs Healthcare
Geographical Analysis:
End users in the worldwide Holter ECG monitoring market include hospitals and clinics, home settings and ambulatory surgery centres, and others. The hospitals & clinics category was the major contributor to the worldwide market and is likely to maintain its dominance over the projection period, owing to increased Holter monitoring device adoption, increased advantages of Holter monitoring, and increased hospital & clinics.