ECG Patch & Holter Monitor Market by Product (ECG Patch, Holter Monitors), Lead Configurations (12-Lead, 3-Lead, 6-Lead), Application, End Use - Global Forecast 2024-2030
Description
ECG Patch & Holter Monitor Market by Product (ECG Patch, Holter Monitors), Lead Configurations (12-Lead, 3-Lead, 6-Lead), Application, End Use - Global Forecast 2024-2030
The ECG Patch & Holter Monitor Market size was estimated at USD 1.99 billion in 2023 and expected to reach USD 2.18 billion in 2024, at a CAGR 9.71% to reach USD 3.81 billion by 2030.
An electrocardiogram (ECG) patch is a device that monitors and records the heart's electrical activity over an extended period. It is designed to be worn on the chest and continuously captures the heart's electrical signals, allowing healthcare professionals to analyze and diagnose various heart conditions. The ECG patch consists of a small, adhesive patch with built-in electrodes that adhere to the patient's skin, identify the heart's minute electrical signals, and transmit them to the chest's surface. The patch is usually wireless and lightweight, making it comfortable for the patient to wear for an extended duration. A Holter monitor is a portable device utilized for ambulatory ECG monitoring over an extended period, usually 24 to 48 hours or more. The Holter monitor consists of a small, battery-powered recorder worn by the patient and has multiple electrodes attached to the chest, similar to standard ECG leads. The prevalence of atrial fibrillation and cardiovascular disorders and the need for ambulatory monitoring devices raised the need for flexible ECG patch monitors in ambulatory facilities, hospitals, and clinics. However, concerns regarding the accuracy of the ECG patch & Holter monitors significantly impede their utilization in hospitals and clinics. In addition, technological advancements in ECG patch & Holter monitor with the integration of mobile applications, artificial intelligence, and wireless connectivity to view ECG data, track symptoms, and share the information directly with healthcare providers with real-time transmission are expected to create robust opportunities for market development.
Regional Insights
In the Americas region, the shift in the trend toward ambulatory monitoring devices, rising investments for early detection of arrhythmia, favorable government regulatory policies, and technological advancements in ECG patch & Holter monitors have propelled the market’s growth. The launch of next-generation and advanced wireless ECG monitoring devices and technological collaborations between native manufacturers are expected to create robust opportunities for market development in the region. In the Asia-Pacific region, especially in India, China, and Japan, the rapidly growing geriatric population coupled with the increasing incidence of cardiovascular diseases (CVDs) and atrial fibrillation (AFib) and developing healthcare infrastructure in emerging economies necessitated ECG patch & Holter monitors, further contributing to the market’s growth. In the EMEA region, the adoption of advanced monitoring devices at ambulatory centers and increased investments in wearable monitors by the major manufacturers have raised the need for ECG patches & Holter monitors in hospitals, clinics, and ambulatory centers.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the ECG Patch & Holter Monitor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing prevalence of atrial fibrillation and cardiovascular disorders
- Increasing utilization of ambulatory monitoring devices
- Market Restraints
- Concern regarding accuracy of the ECG patch & holter monitors
- Market Opportunities
- Technological advancements in ECG patches & Holter monitor
- Increasing adoption of flexible ECG patch monitors
- Market Challenges
- Complexities in handling of the devices and difficulties in interpreting data collected
- Market Segmentation Analysis
- Product: Growing usage of ECG patches to get accurate heart rate readings
- Lead Configurations: Burgeoning utilization of the 12-lead configuration indispensable in acute care and detailed diagnostic scenarios
- Application: Evolving adoption of ECG patch & Holter monitor for diagnostics purpose
- End-use: Expanding the scope of ECG patch across ambulatory facilities
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the ECG Patch & Holter Monitor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the ECG Patch & Holter Monitor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Vivalink Introduced New Ambulatory Cardiac Monitoring Technology
Vivalink unveiled an innovative ambulatory cardiac monitoring system designed to enhance remote patient monitoring (RPM) with sophisticated mobile cardiac telemetry (MCT) and Holter monitoring capabilities. This new technology incorporates advanced arrhythmia detection algorithms capable of identifying over 15 types of common arrhythmias and ectopic beats, significantly advancing patient care. The system features a reusable ECG patch with a 14-day rechargeable battery and a storage capacity that accommodates up to 30 days of data. In addition, this solution integrates a patient-friendly app and a mobile gateway that ensure seamless data transmission and encourage active patient participation.
Strategic Partnership for Advanced Remote Cardiac Monitoring: Wellysis Joins Forces with Artella Solutions
Wellysis, building on its FDA-approved S-Patch electrocardiogram technology, enhanced its market position through a strategic partnership with Artella Solutions. This collaboration launched a comprehensive remote cardiac monitoring service in the United States, starting with Texas. The newest iteration of their technology, the S-Patch ExL, is notable for its ability to monitor heart activity continuously for up to 14 days using a single coin battery. This capability marks a significant advancement in the Extended Holter & Mobile Cardiac Telemetry sectors.
GE HealthCare Unveils Novii+ Wireless Patch Solution for Advanced Maternal and Fetal Monitoring
GE HealthCare received U.S. FDA 510(k) clearance for its Novii+ Wireless Patch Solution, designed to monitor fetal and maternal heart rate. The advanced algorithm used in Novii+, known as Cross Check artifact reduction, bolsters the system's accuracy and reliability, making it adept for use from 34 weeks gestation expanding its application compared to the previous 37-week threshold. This optimal functionality is crucial for early and high-risk pregnancies, providing real-time insights and alerts on labor progression to medical teams and facilitating timely interventions.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the ECG Patch & Holter Monitor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the ECG Patch & Holter Monitor Market, highlighting leading vendors and their innovative profiles. These include AliveCor, Inc., Bardy Diagnostics, Inc., BPL Medical technologies Pvt Ltd., Canadian Cardiac Care, Cardiac Insight Inc., Cortrium ApS, ELNA Medical Group Inc., GE HealthCare Technologies Inc., Hill-Rom Holdings, Inc. by Baxter International, Inc., iRhythm Technologies, Inc., Koninklijke Philips N.V., Lepu Medical Technology (Beijing) Co., Ltd., Lief Therapeutics, LifeSignals, Inc., Medtronic PLC, Midmark Corporation, Monitra Healthcare Private Limited, Nasiff Associates, Inc., Nihon Kohden Corporation, Nissha Medical Technologies, OSI Systems, Inc., ReactDx, Schiller AG, SEERS Technology Co., Ltd., SmartCardia SA, Stratus, The ScottCare Corporation, VitalConnect, VivaLNK, Inc., and ZOLL Medical Corporation by Asahi Kasei Corporation.
Market Segmentation & Coverage
This research report categorizes the ECG Patch & Holter Monitor Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- ECG Patch
- Holter Monitors
- Holter Analysis System & Software
- Wired Holter Monitors
- Wireless Holter Monitors
- Lead Configurations
- 12-Lead
- 3-Lead
- 6-Lead
- Application
- Diagnostics
- Monitoring
- End Use
- Ambulatory Facilities
- Hospitals & Clinics
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
196 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing prevalence of atrial fibrillation and cardiovascular disorders
- 5.1.1.2. Increasing utilization of ambulatory monitoring devices
- 5.1.2. Restraints
- 5.1.2.1. Concern regarding accuracy of the ECG patch & holter monitors
- 5.1.3. Opportunities
- 5.1.3.1. Technological advancements in ECG patches & Holter monitor
- 5.1.3.2. Increasing adoption of flexible ECG patch monitors
- 5.1.4. Challenges
- 5.1.4.1. Complexities in handling of the devices and difficulties in interpreting data collected
- 5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing usage of ECG patches to get accurate heart rate readings
- 5.2.2. Lead Configurations: Burgeoning utilization of the 12-lead configuration indispensable in acute care and detailed diagnostic scenarios
- 5.2.3. Application: Evolving adoption of ECG patch & Holter monitor for diagnostics purpose
- 5.2.4. End-use: Expanding the scope of ECG patch across ambulatory facilities
- 5.3. Market Disruption Analysis
- 5.4. Porter’s Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
- 5.5. Value Chain & Critical Path Analysis
- 5.6. Pricing Analysis
- 5.7. Technology Analysis
- 5.8. Patent Analysis
- 5.9. Trade Analysis
- 5.10. Regulatory Framework Analysis
- 6. ECG Patch & Holter Monitor Market, by Product
- 6.1. Introduction
- 6.2. ECG Patch
- 6.3. Holter Monitors
- 7. ECG Patch & Holter Monitor Market, by Lead Configurations
- 7.1. Introduction
- 7.2. 12-Lead
- 7.3. 3-Lead
- 7.4. 6-Lead
- 8. ECG Patch & Holter Monitor Market, by Application
- 8.1. Introduction
- 8.2. Diagnostics
- 8.3. Monitoring
- 9. ECG Patch & Holter Monitor Market, by End Use
- 9.1. Introduction
- 9.2. Ambulatory Facilities
- 9.3. Hospitals & Clinics
- 10. Americas ECG Patch & Holter Monitor Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific ECG Patch & Holter Monitor Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa ECG Patch & Holter Monitor Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Vivalink Introduced New Ambulatory Cardiac Monitoring Technology
- 13.3.2. Strategic Partnership for Advanced Remote Cardiac Monitoring: Wellysis Joins Forces with Artella Solutions
- 13.3.3. GE HealthCare Unveils Novii+ Wireless Patch Solution for Advanced Maternal and Fetal Monitoring
- 13.3.4. Wellysis’s Strategic Expansion: Penetrating the Indian ECG Markets with the S-Patch EX
- 13.3.5. Strategic Partnership Enhances Cardiac Monitoring Capabilities in India Through Medtronic’s Distribution of Padma Rhythms
- 13.3.6. Nahtlos AG Introduces Durastrip: A Revolutionary Movesense-Compatible ECG Electrode Patch for Extended Monitoring
- 13.3.7. Dozee’s Launch of the Ambulatory Pro Ex System with Advanced Wireless Technology
- 13.3.8. Comprehensive Real-Time Cardiac Monitoring: Innovations by SmartCardia
- 13.3.9. Enhancing Cardiac Monitoring with Evaluation of Zio Patch Technology at North Bristol NHS Trust
- 13.3.10. Pioneering Sustainability in Cardiac Monitoring: VTT's Development of a Recyclable Biomaterial-based ECG Patch
- 13.4. Strategy Analysis & Recommendation
- 13.4.1. Hillrom Holdings, Inc. by Baxter International Inc.
- 13.4.2. Koninklijke Philips N.V.
- 13.4.3. Medtronic PLC
- 13.4.4. SEERS Technology Co., Ltd.
- 13.4.5. iRhythm Technologies, Inc.
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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