Holter Monitor Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024
Sarasota, FL -- (SBWIRE) -- 06/22/2018 -- Global Holter Monitor Systems Market: Overview
Holter monitoring systems attribute to portable a medical device which is used to monitor heart rhythms and requisite for recording, analyzing, diagnosing and communicating ECG data to healthcare professionals at any given time. Holter monitor consists of electrodes and electrical leads precisely like ECG but with lesser leads, the system can detect symptoms such as chest pain and disturbed heartbeat and can generate data which would help in early diagnosis of cardiac problems like ischemia and arrhythmia. According to American Heart Association, approximately 17.4 million deaths are caused owing to cardiovascular diseases worldwide per year and the number is expected to reach around 24 million by 2030. Increasing prevalence of cardiovascular diseases and technological advances along with the benefit that holter monitor system doesn't pose any risk and pain to the wearer is anticipated to push the global holter monitor systems market during the forecast period.
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Global Holter Monitor Systems Market: Growth Factors
Dynamic lifestyle and, rising stress leads to multiple life-threatening heart conditions such as cardiovascular diseases, cardiac arrest, and blockage in heart, as cardiovascular diseases (CVD) are on the verge of being a major health concern. Globally, the healthcare industry is adopting new and innovative devices to ensure enhanced medical care and is also investing in better healthcare facilities. The American Heart Association in the U.S. is focusing on reducing the deaths and incidences of stroke by 20% which are caused by cardiovascular diseases. Technological advancements, increasing healthcare costs, rising incidences of cardiovascular diseases, government initiatives and rise in death rate due to heart diseases are anticipated to be the major driving forces in the global holter monitor systems market over the forecast period. The rise in geriatric population and adoption of advanced healthcare facilities by patients as well as the use of holter monitoring system by individuals who are likely to be exposed to factors that may cause cardiovascular diseases is also expected to fuel the global holter monitor systems market during the forecast period. However, the dearth of trained staff and appropriate healthcare infrastructure in emerging and developing countries is a key restraining factor to the growth of the global holter monitor system market.
Global Holter Monitor Systems Market: Segmentation
The global holter monitor systems market is segmented on the basis of product type and end-user. Based on product type; the market is segmented into holter monitoring devices, event monitoring devices, and holter monitoring software. Among all these holter monitoring devices accounted highest revenue share in 2015 and is expected to remain poised during the forecast period. Based on end-user ht holter monitor system market is segmented as hospitals, clinics, ambulatory surgical center, and homecare. Among all end users; hospital segment is expected to exhibit potent growth opportunities due to easy access over the forecast period.
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Global Holter Monitor Systems Market: Regional Analysis
North America is the dominant market in the global holter monitor systems owing to soaring adoption of minimally aggressive diagnostic tools by patients and supportive government regulations along with funding for treatment of cardiovascular diseases. This high adoption rate of newer technologies is projected to push the growth in the region for holter monitor systems. Europe succeeds North America and holds the second largest market share owing to the increasing healthcare expenditure and enhanced healthcare infrastructure in the region. The Asia Pacific is expected to experience high growth rates in the holter monitor systems market during the forecast period owing to improving healthcare infrastructure, the rise in disposable income, growing incidences of heart disorders and raising awareness pertaining cardiovascular diseases and their treatment. Emerging economies like India and China are anticipated to drive the growth of the holter monitor systems market in Asia over the forecast period.
Global Holter Monitor Systems Market: Competitive Players
Some of the major player's operating in the holter monitor system market are GE Healthcare, Koninklijke Philips, Mortara Instrument, FUKUDA DENSHI, Spacelabs Healthcare, Schiller AG, Applied Cardiac Systems, Borsam Medical, LifeWatch and Welch Allyn.
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Global Holter Monitor Systems Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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