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In February 2019, VivaQuant Inc. received U.S FDA approval for the product RX-1 Rhythm Express Remote Cardiac Monitoring System that continuously monitors cardiac activity. New product launches and technological advancements are expected to drive the global mobile cardiac telemetry systems market during the forecast period. Technological advancements making it easy to get information about heart functioning without interrupting the life of the patient. According to WHO, cardiovascular diseases takes lives of 17.9 million people every year which account for 31% of all global deaths. Mobile cardiac telemetry systems are a small portable device to monitor the cardiac activities of the patient. Mobile cardiac telemetry systems are used for long term monitoring along with the ability for auto-triggered events based on algorithms.
Enhanced memory storage capabilities by software and better health insurance coverage for the treatment of cardiac diseases are the factors likely to support the growth in global mobile cardiac telemetry systems market during the forecast period. Moreover, the growing trend and application of telemedicine and the introduction of a new product of mobile cardiac telemetry system is anticipated to boost the global market. For instance, in July 2018, Medicalgorithmics.com launched PocketECG Cardiac Rehabilitation System (CRS).
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However, the introduction of implantable cardiac monitors is the major factor that hampers the growth in global mobile cardiac telemetry systems market. Medtronic, one of the major player in cardiac monitoring devices, announced the discontinuation of marketing of SEEQ mobile cardiac telemetry system from May 2018, in order to focus on Reveal LINQ, an insertable cardiac monitoring (ICM) system, which is expected to hinder the growth in global mobile cardiac telemetry systems market during the forecast period.
Some of the major companies that are present in the global mobile cardiac telemetry systems market are Medtronic, BioTelemetry, Inc., Siemens Healthcare GmbH, Boston Scientific Corporation, Koninklijke Philips N.V., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., SHL Telemedicine, The ScottCare Corporation, Medicomp Inc., Preventice Services, LLC., Applied Cardiac Systems, Inc., and others.
By Product Type
· Multiple Lead Mobile Cardiac Telemetry Systems
· Mobile Cardiac Telemetry Patch
By Disease Indication
· Cardiovascular Diseases
· Angina Pectoris
· Heart Failure
By End User
· Specialty Clinics
· Diagnostic Centres
· Home Care Settings
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Among the end users, the hospital segment is estimated to dominate the global mobile cardiac telemetry systems market during the forecast period owing to rapid adoption and raising awareness about cardiac monitoring among physicians.
The global mobile cardiac telemetry systems market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The growth in mobile cardiac telemetry systems market in North America during the forecast period attributed to the high prevalence of coronary artery disease and rise in the obese population. According to the Centers for Disease Control and Prevention, about 610,000 people die of heart disease every year in the United States which implies that mobile cardiac telemetry systems market could grow in North America exponentially. In Europe and Asia Pacific, mobile cardiac telemetry systems market is likely to grow in the forecast duration, owing to the fast adoption of modern lifestyle thus causing lifestyle-related disorders, in turn leading to increased cases of atherosclerosis.
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