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A holter ECG monitor is a portable electrocardiogram. It records the electrical activity of the heart continuously over 24 hours or longer. Electrodes (small, plastic patches that stick to the skin) are placed at certain points on chest and abdomen. These electrodes are connected to an ECG machine by wires and thus the electrical activity of the heart can be measured and recorded. Upsurge in geriatric population, rising prevalence of cardiovascular diseases, increasing efforts by key market players in research and development of new launches of holter ECG monitors, and growing demand and adoption of these monitors among the physicians and doctors are som eof the factors that are responsible for the Holter ECG market expansion. For instance, in February 2019, SCHILLER launched its new holter ECG device, ‘medilogAR’, with a recording time of about 14 days and atrial fibrillation/atrial flutter detection in zero seconds
The Holter ECG market is anticipated to register a remarkable market growth during the forecast period due to factors such as upsurge in geriatric population, rising prevalence of cardiovascular diseases, and growing demand and adoption of these monitors among the physicians and doctors. However, lack of skilled professionals to monitor the holter ECG reports with accuracy is likely to hamper the growth of Holter ECG market.
Key Market Driver -
Rising prevalence of cardiovascular diseases, upsurge in geriatric population
Key Market Restraint -
Lack of skilled professionals to monitor holter reports
Globally, the holter ECG market can be segmented on the basis of the product, lead type, end user, and region. Based on the product, the market can be segmented into wired holter ECG monitor and wireless holter ECG monitor. Based on the lead type, the market can be segmented into patch type 1 lead holter monitor, 3 lead holter monitor, 6 lead holter monitor, 12 lead holter monitor, and others. Based on the end user, the market can be segmented into hospitals & clinics, ambulatory surgical centers (ASCs), homecare, and others. Geographically, the holter ECG market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the holter ECG market are GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., NIHON KOHDEN CORPORATION., Medtronic, FUKUDA DENSHI, Hillrom Services, Inc., SCHILLER, and other prominent players.
Geographically, the holter ECG market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the holter ECG market and is likely to retain its market position throughout the forecast period. The growing geriatric population with subsequent disease burden of cardiovascular diseases is projected to fuel the market growth of this region. For instance, according to American College of Cardiology Foundation, approximately 5.3 million Americans have atrial fibrillation and in 2014, atrial fibrillation or flutter was the principle diagnosis in around 454,000 US hospitalizations. Europe is likely to hold second largest market share attributable to the penetration of cardiac devices and growing demand of holter ECG monitors. The market in Asia Pacific is projected to expand at the highest CAGR on account of growing technological advancements and improved healthcare industry and rising incidences of cardiovascular diseases.
On the flip side, market in Latin America and the Middle East & Africa are expected to register a slower-to-moderate growth rate. The growing awareness about the need for cardiac monitoring and establishment of strong players in the region are some of the factors contributing for their market growth
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