March, 2023
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The ECG Patch and Holter Monitor Market are poised to register a robust market outlook driven by increased consumption across developed and developing countries. The report provides analysis and outlook across different types including ECG patches and Holter Monitors. In addition, the report provides market forecasts for diverse applications including diagnostic and monitoring applications. Further, ECG patch and Holter monitor sales across end-user industries including Hospitals and Clinics, Ambulatory Facilities, and others are provided from 2021 to 2030. Key companies and forecasts of 25 countries are also included in the ECG patch and Holter monitor industry analysis.
ECG Patch and Holter Monitor Market Study Highlights, 2023
ECG Patch and Holter Monitor Market Outlook to 2030
ECG Patch and Holter Monitor Market Overview
The ECG Patch and Holter Monitor market is steadily recovering from the negative impact of the COVID-19 pandemic. As patients postponed their treatment schedules during the pandemic, the market witnessed slow growth in 2020. However, the market is recovering from late 2021, with manufacturers and marketing companies registering sales growth. Further, growing healthcare expenditures and the increasing prevalence of heart failure conditions across the world tend to drive the arrhythmia diagnosis and monitoring market outlook over the long-term forecast period. Further, technological advancements in both patches and monitors are set to play a major role in the long-term market outlook.
Increased demand for cardiac monitoring solutions is encouraging market growth for ECG Patch and Holter Monitor consoles across developed and developing countries. Most manufacturing companies are focusing on launching a cost-efficient, lightweight ECG Patch and Holter Monitor to cater to strong demand growth from emerging markets.
The market growth is driven by rapid growth in the Prevalence of atrial fibrillation, Increasing demand for ambulatory monitoring devices, Technology advancements in ECG patches, the COVID-19 pandemic led to increased use of ECG patches and Holter monitors in homes, Increasing geriatric population, Focus on emerging countries remains a major marketing strategy for expansion, Increasing global Healthcare Expenditure worldwide.
On the other hand, high costs of services, a dearth of skilled professionals, challenges associated with adhering to new regulations, financial pressures and supply chain disruptions, and cyber security concerns will pose challenges to market growth.
The global ECG Patch and Holter Monitor market is characterized by a large number of medium- and large-scale players operating in the market. Further, the demand for the ECG Patch and Holter Monitor continues to remain strong over the forecast period. However, regional disparities do exist and the growth rates of different applications also vary significantly over the forecast period.
ECG Patch and Holter Monitor Market Share Analysis- ECG Patches held the dominant market share
ECG patches provide a comfortable option to diagnose various cardiovascular diseases at an early stage. The drive toward continuous monitoring of physiological signals for cardiac monitoring and diagnostic procedures is encouraging the demand for ECG patches.
In particular, the demand for soft and gentle patches with minimal impact on sensitive skin is widely marketed. Leading players such as Nissha Medical continue to market ECG patches with ECG electrodes for use on patients with sensitive skin. Disposable Electrode Patches for EKG for Strap-free Heart Rate Monitors also quickly gaining market penetration worldwide.
ECG Patch and Holter Monitor Market Trend- Technology advancements in ECG patches
Holter monitors with reduced weight, the ability to improve patient experience, products with small recorders, colored beat detection, simple reporting, and flexible scanning options, suitable for both adult and pediatric applications, and others are widely being put forward in Holter monitors by companies such as Hill Rom.
GE and other companies are offering lightweight, portable products that can record up to 72 hours of continuous patient recording. iRhythm Technologies, Inc uses Artificial intelligence and has obtained two 510 (k) clearances from the US FDA. Koninklijke Philips markets a light and sleek recorder with a large onboard display for diverse user types.
Leadless ECG patches with low cost and no-maintenance advantages with high study completion rates and simplicity are being marketed by companies. Baxter and other companies are aggressively marketing their CAM patch to help healthcare professionals achieve accuracy and comfort for patients, improve ECG resolution, and provide more information about heart rhythm that may help lead to more clinically-actionable diagnoses.
Holter monitoring has robust use in clinical cardiology but potential challenges such as high costs, inconvenience, low diagnostic yield, and other challenges encourage the shift towards ECG patches. Koninklijke Philips announced the launch of a full-service, at-home, 12-lead electrocardiogram (ECG) solution for use in decentralized clinical trials in 2022.
ECG Patch and Holter Monitor Market Driver- Prevalence of atrial fibrillation
The increasing prevalence of cardiovascular conditions including atrial fibrillation is encouraging the growth of ECG patches and Holter monitors market size. According to the American Heart Association, by 2035, more than 130 million adults are likely to be affected by cardiovascular conditions.
Atrial Fibrillation or AFib is estimated to affect around 35 million worldwide and is currently regarded as an important research area. It is the most common heart-related disorder related to a heartbeat with sustained irregular heart rhythm (arrhythmia). Rapid electrical signals force the upper chambers in the heart to contract rapidly and fibrillate.
With an increasing aged population (70+) across several countries, Atrial Fibrillation is observed to be one of the leading causes of strokes with a strong increase in hospitalization rates, and impaired life. Around 5% to 10% of the population aged above 70 suffers from AFib.
Amidst robust market demand for Holter monitors, leading companies such as GE Healthcare are marketing diverse ambulatory ECG Monitoring solutions to help improve the quality of care, while saving costs in both clinical performance and hospital operations.
Disposable Endoscopy Market Segmentation
Types
Applications
End-Users
Regions
Companies Profiled in the Research Study-
1. Executive Summary
1.1 Introduction to ECG Patch and Holter Monitor Markets
1.2 ECG Patch and Holter Monitor Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in ECG Patch and Holter Monitor Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key ECG Patch and Holter Monitor Market Trends
3.1.1 Increasing demand for ambulatory monitoring devices
3.1.2 Technology advancements in ECG patches
3.1.3 COVID-19 pandemic led to increased use of ECG patches and Holter monitors in homes
3.2 Key ECG Patch and Holter Monitor Market Growth Drivers
3.2.1 Prevalence of atrial fibrillation
3.2.2 Increasing geriatric population
3.2.3 Focus on emerging countries remains a major marketing strategy for expansion
3.2.4 Increasing global Healthcare Expenditure worldwide is among the main market drivers
3.3 Key ECG Patch and Holter Monitor Market Growth Restraints
3.3.1 Risk of Cyber security challenges
3.3.2 High costs of Holter Monitors restrict their use to specific applications
4 ECG Patch and Holter Monitor Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: ECG Patch and Holter Monitor Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: ECG Patch and Holter Monitor Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: ECG Patch and Holter Monitor Market Size Outlook to 2030
5. ECG Patch and Holter Monitor Market Segmentation- Outlook by Type
5.1 ECG Patch and Holter Monitor Market Share Analysis by Type, 2023
5.2 ECG Patch Market Outlook to 2030
5.3 Holter Monitor Market Outlook to 2030
6. ECG Patch and Holter Monitor Market Segmentation- Outlook by Application
6.1 ECG Patch and Holter Monitor Market Share Analysis by Application, 2023
6.2 Diagnostics: ECG Patch and Holter Monitor Market Outlook to 2030
6.3 Monitoring: ECG Patch and Holter Monitor Market Outlook to 2030
7. ECG Patch and Holter Monitor Market Segmentation- Outlook by End-User
7.1 ECG Patch and Holter Monitor Market Share Analysis by End-User, 2023
7.2 Hospitals and Clinics: ECG Patch and Holter Monitor Market Outlook to 2030
7.3 Ambulatory Facilities: ECG Patch and Holter Monitor Market Outlook to 2030
7.4 Other ECG Patch and Holter Monitor Market Outlook to 2030
8. North America ECG Patch and Holter Monitor Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 North America ECG Patch and Holter Monitor Market Growth Opportunities
8.2.1 North America ECG Patch and Holter Monitor Market Outlook by Type, 2021 to 2030
8.2.2 North America ECG Patch and Holter Monitor Market Outlook by Application, 2021 to 2030
8.2.3 North America ECG Patch and Holter Monitor Market Outlook by Country, 2021 to 2030
8.3 United States ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
8.4 Canada ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
8.5 Mexico ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9. Europe ECG Patch and Holter Monitor Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Europe ECG Patch and Holter Monitor Market Growth Opportunities
9.2.1 Europe ECG Patch and Holter Monitor Market Outlook by Type, 2021 to 2030
9.2.2 Europe ECG Patch and Holter Monitor Market Outlook by Application, 2021 to 2030
9.2.3 Europe ECG Patch and Holter Monitor Market Outlook by Country, 2021 to 2030
9.3 Germany ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9.4 France ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9.5 United Kingdom ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9.6 Spain ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9.7 Italy ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
9.8 Other Europe ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10. Asia Pacific ECG Patch and Holter Monitor Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 Asia Pacific ECG Patch and Holter Monitor Market Growth Opportunities
10.2.1 Asia Pacific ECG Patch and Holter Monitor Market Outlook by Type, 2021 to 2030
10.2.2 Asia Pacific ECG Patch and Holter Monitor Market Outlook by Application, 2021 to 2030
10.2.3 Asia Pacific ECG Patch and Holter Monitor Market Outlook by Country, 2021 to 2030
10.3 China ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10.4 Japan ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10.5 India ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10.6 South Korea ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10.7 Indonesia ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
10.8 Other Asia Pacific ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
11. South and Central America ECG Patch and Holter Monitor Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 South and Central America ECG Patch and Holter Monitor Market Growth Opportunities
11.2.1 South and Central America ECG Patch and Holter Monitor Market Outlook by Type, 2021 to 2030
11.2.2 South and Central America ECG Patch and Holter Monitor Market Outlook by Application, 2021 to 2030
11.2.3 South and Central America ECG Patch and Holter Monitor Market Outlook by Country, 2021 to 2030
11.3 Brazil ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
11.4 Argentina ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
11.5 Other Latin America ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12. Middle East and Africa ECG Patch and Holter Monitor Market Outlook and Opportunities to 2030
12.1 Market Snapshot, 2023
12.2 Middle East and Africa ECG Patch and Holter Monitor Market Growth Opportunities
12.2.1 Middle East and Africa ECG Patch and Holter Monitor Market Outlook by Type, 2021 to 2030
12.2.2 Middle East and Africa ECG Patch and Holter Monitor Market Outlook by Application, 2021 to 2030
12.2.3 Middle East and Africa ECG Patch and Holter Monitor Market Outlook by Country, 2021 to 2030
12.3 Saudi Arabia ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12.4 United Arab Emirates (the UAE) ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12.5 Other Middle East ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12.6 Egypt ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12.7 South Africa ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
12.8 Other Africa ECG Patch and Holter Monitor Market Outlook, 2021 to 2030
13. Profiles of major world ECG Patch and Holter Monitor Companies
13.1 Hill-Rom Holdings, Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.2 GE Healthcare
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.3 Koninklijke Philips NV
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.4 iRhythm Technologies, Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.5 Medtronic plc
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.6 Cardiac Insight Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.7 Nissha Medical Technologies
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.8 Nihon Kohden Corporation
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.9 Fukuda Denshi Co., Ltd.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.10 Spacelabs Healthcare
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13. Appendix
13.1 Publisher’s Expertise
13.2 List of Tables and Charts
13.3 List of Exhibits
13.4 Legal Disclaimer
The market is poised for robust growth owing to the increasing prevalence of atrial fibrillation, demand for ambulatory monitoring devices, technology advancements in ECG patches, increased use of ECG patches and Holter monitors in homes, increasing geriatric population, and increasing global Healthcare Expenditure worldwide.
The ECG Patch and Holter monitor market is valued at $1,151 million in 2022.
The global ECG Patch and Holter monitor market is one of the fastest-growing medical devices, poised to register a 12.73% CAGR over the forecast period.
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., and Spacelabs Healthcare
Diagnostics is the largest market segment and the fastest-growing segment in the industry.