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Holter Monitor Med device makers look ahead to growth despite regulatory challenges
Holter monitor is a battery-operated portable device that measures and records cardiac activity for 24 to 48 hours. Holter monitors device are used to detect and analyze cardiac arrhythmia, atrial fibrillation, and bradycardia. The device has silver dollar-sized electrodes, which can be attached to patients. The device is powered by small battery electrocardiogram (ECG) appliance. The system is incorporated with recorder and software to record heart rhythm and analyze the recorded data respectively. It is majorly used in patients diagnosed with coronary artery disease or post infarction period. According to the American Heart Association, around 17.3 million deaths are caused due to cardiovascular disease worldwide annually and number is anticipated to reach around 23.6 million by 2030. Increasing prevalence of cardiovascular disorders, adoption of preventive healthcare measures by population are key drivers for growth of global holter monitoring market.
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Holter Monitor Market Taxonomy
On the basis of Product Type, Holter Monitor Market is segmented into:
Single channel
Double channel
Multi-channel
On the basis of End user, Holter Monitor Market is segmented into:
Hospitals
Ambulatory surgical center
Clinic
Homecare
Increasing prevalence of cardiovascular diseases around the globe is expected to fuel growth of the holter monitor market over the forecast period
On the basis of Geography, Holter Monitor Market is segmented into North America, Latin America, Asia Pacific, Middle East and Europe. Increasing geriatric population and adoption of advanced healthcare facilities by patients are major factors expected to drive the growth of global cardiac holter monitor market over the forecast period. Geriatric population is more prone to heart diseases as heart muscles loose the resistance and capability to respond to different pressure rates, in turn making them more susceptible to cardiac disorders. According to the Center for Disease Control and Prevention (CDC), in 2012, around 117 million adults were suffering from one or more chronic conditions. North America holds dominant position in holter monitor market, owing high adoption of minimally aggressive diagnostic tools by patients and supportive government regulations and funding for treatment of cardiovascular disorder. According to the report published by American Heart Association in 2015, an estimated 450,000 deaths due to cardiac disorders in the U.S.
The holter monitor device market of Asia Pacific region is expected to grow at significant rate over the forecast period, owing to increasing prevalence of chronic disorder cases and unhealthy nutrition habits among rural population. Increasing awareness regarding treatment of cardiac arrhythmia and atrial fibrillation along with various programs conducted by world health organization (WHO) for prevention of cardiovascular disorders are major factors fueling growth of the holter monitor market in Asia Pacific.
Integration of advanced technologies in medical devices is expected to boost growth of the market. For instance, in 2015, Philips healthcare incorporated wireless and Bluetooth technology in cardiac hotler monitoring device. Shifting manufactures method towards customer centric development of products is expected to propel growth of the global holter monitor market over the forecast period.
Key players operating holter equipment market include GE Healthcare, FUKUDA DENSHI, Koninklijke Philips N.V., Philips Healthcare, Nasiff Associates, Inc., LifeWatch AG, Schiller AG, Fukuda Denishi Co. Ltd. Spacelabs Healthcare, and Welch Allyn.
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