Fast. MR has announced the addition of a new syndicated Market research report on the Global Holter Monitor Market. This research report presents comprehensive Market dynamics including growth drivers, industry trends, Market opportunities & barriers. This research report offers qualitative and quantitative insights into the Holter Monitor. The report provides Market assessment for a period of 2018-2024, with 2018 as the base year, 2019 as an estimated year and 2019-2024 as forecast period. The Market study also presents quantitative information such as Market size, Market share, year on year growth, Market increment, compound annual growth rate (CAGR), and Market growth opportunity.
Holter monitors are battery-operated, small, wearable devices that measure and record a patient’s heart’s activity (ECG) continuously for 24 to 48 hours or longer, depending on the type of monitoring used. This information stored by Holter monitors then used by doctors to figure out heart-related problems. Due to the increasing occurrence of related heart diseases and problems, the global holter monitor market reached a market valuation of USD XX.X Billion in 2018 and is projected to grow .at a CAGR of XX.X% during the forecast period, i.e., 2019-2024
Market Insights
Growth Drivers – Holter Monitor Market
Growing Number of Heart Patients
Heart diseases are responsible for a large number of deaths around the globe.Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups worldwide.
Further, big improvement in healthcare infrastructure and growing awareness among the population have encouraged them to maintain preventive care of their health. Doctors have several methods of monitoring heart rate such as electrocardiograms (ECG), personal monitors, and more. Doctors have increasingly adopted holter monitors, a heart rate pattern monitoring technique, as it provides data with more accuracy, no significant risks, and fewer errors. Thus, the growing prevalence of heart-related disease are poised to bolster the demand for Holter monitor in upcoming years.
Preventive Healthcare Devices
Owing to rapid urbanization, hectic work schedules, and increasing consumption of fast food, a rise in the adoption of preventive healthcare devices has been witnessed. Growing awareness followed by robust spending on personal health care is expected to bolster the growth of the holter monitor market in the coming years. In addition to this, a significant shift toward minimally invasive diagnostic tools is another key growth factor in holter monitor market as Holter monitoring is a painless and noninvasive heart rate monitoring technique.
Barriers – Holter Monitor Market
There are several challenges confronting Holter monitor market, including the influx of new wearable patient monitors and week adoption rates in small & mid-sized medical facilities. Also, holter monitors are not as user-friendly as the modern personal care wearables, and there is also a strong need for care while wearing holter monitors, such issues are likely to adversely affect the growth of global holter monitor market in the near future.
Segmentation Analysis
The holter Monitor market is segmented in different categories including by product, by end user, and by number of channels. The market is segmented by product into wired holter monitor, wireless holter monitor and holter monitoring software. Among this segment, the wireless holter monitors segment is expected to capture significant shares of the market in 2018. Global wireless holter monitors segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the end user, the holter monitor market is further sub-segmented into hospitals, clinics, ambulatory surgical centers, diagnostic centers and others. Among which hospital segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into one more section: by number of channels (1-Channel, 2-Channel, 3-Channel, 12-Channel and Others).
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to holter monitor market, North America is the leader in holter monitor market. The North America region has acquired significant market shares and is poised to continue its dominance in the coming years. Based on country, U.S. is the leading market for holter monitor market. Strong spending on personal healthcare, presence of advanced healthcare infrastructure and high prevalence of heart related diseases are key drivers of the holter monitors market in North American region.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global holter monitor market. Some of the major market players in global holter monitor market are, General Electric Company, Welch Allyn, OSI Systems, Inc., Koninklijke Philips N.V., ACSDiagnostics, Medicomp Inc., The ScottCare Corporation, CardioNet, Schiller Healthcare India Pvt. Ltd., Trimpeks Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Impact Analysis on COVID-19:
The coronavirus or COVID-19 (formerly 2019-nCoV) broke out in December 2019, which has been imposed as a medical emergency worldwide. More than 183 countries and territories have reported cases of coronavirus to date. On 11th March 2020, the World Health Organization (WHO) declared the COVID-19 a pandemic officially. Due to which many countries such as China, India, Italy, Germany, Spain, France, and such other countries having a large number of COVID-19 patients went under lockdown conditions. With the ongoing situation of lockdown, many industries have been adversely impacted, and it is expected that the economy of the developing & developed nations are going to suffer a massive loss in the coming years, and also the global economy may slip into a recession. Along with this, in the United Nations Conference on Trade & Development, it was said that the impact of COVID-19 would hamper the global economy up to USD 2 Trillion in 2020. The report also considers the impact the impact of COVID-19 on global Holter Monitor Market in the upcoming years.
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