Market Trends of Holter Monitor Industry
The Wireless Holter Monitor Segment is Expected to Witness Significant Growth Over the Forecast Period
A wireless Holter monitor uses electrodes and a recording device to track the heart's rhythm for 24 to 72 hours. A healthcare provider can print an electrocardiogram strip using the data on the recording device to see the heart's rhythm. This is far superior in detecting intermittent arrhythmias and abnormalities that may go undetected in a traditional short-term Holter monitor.
Wireless Holter monitors are small and portable, making them more convenient for patients to wear and transport. It also eliminates the need for wires and leads, allowing patients to move freely and comfortably. These devices are unobtrusive and effective for diagnosis. While continuous ECG monitoring is required in the short to medium term (days to weeks), these cardiac devices and associated digital mobile health technologies are changing the doctor-patient interface and shaping the future of healthcare.
Moreover, these devices are non-invasive, as there is no incision on the patient’s skin. Their popularity is likely to increase as they are integrated with big data and artificial intelligence, producing an even greater amount of data in real time.
Therefore, the applicability of portable, user-friendly devices and the development of these monitors for home use are factors expected to drive the market.
North America is Expected to Dominate the Holter Monitor Market Over the Forecast Period
Heart disease is the leading cause of death for men and women in the United States. For instance, according to the data published by the National Heart, Lung, and Blood Institute, about 18.2 million American adults were living with coronary artery disease in 2022, making it the most common type of heart disease in the United States. The country is proliferating due to the promotion of cardiovascular health solutions. According to the data published by the CDC in 2022, 12.1 million people will be affected by atrial fibrillation by 2030 in the United States. Furthermore, the use of telemedicine has increased the market for these types of devices. It is revolutionizing cardiac monitoring by leveraging the capability of mobile cardiac telemetry devices. These can offer patients quick diagnosis, easy remote monitoring, and individualized treatment regimens.
Moreover, technological advancements have encouraged several leading companies to launch innovative and miniaturized invasive devices. For instance, in September 2023, a US-based company, iRhythm Technologies, invented a Zio patch that includes a Holter monitor in a small pedometer-sized device with an adhesive backing. Additionally, in April 2023, Icentia, a Canadian medical technology company, announced that it received FDA clearance for CardioSTAT, an ambulatory continuous ECG monitoring solution that relies on a wire-free, single-use recorder. With this approval, Icentia will be able to pursue its goal of being a global leader in ambulatory cardiac monitoring by expanding its business into the United States.
Therefore, the market studied is anticipated to grow over the analysis period due to the abovementioned factors, such as the increasing geriatric population associated with rising cardiovascular diseases and product launches.
