Global ECG Patch and Holter Monitor Market 2023-2030

Global ECG Patch and Holter Monitor Market 2023-2030

Global ECG Patch and Holter Monitor Market Size, Share & Trends Analysis Report by Type (ECG Patch and Holter Monitors), by Application (Diagnostics and Monitoring) and by End-User (Hospitals & Clinics and Ambulatory Facilities) Forecast Period (2023-2030)

The global ECG patch and holter monitor market is anticipated to grow at a CAGR of 19.4% during the forecast period (2023-2030). ECG patches are small, wearable devices that record the electrical activity of the heart. They are typically placed on the chest and adhere to the skin using medical-grade adhesive. Whereas, holter monitor is a portable device that records the electrical activity of the heart continuously for 24 to 48 hours. It is used to diagnose or monitor heart rhythm problems, such as arrhythmias and others.

Increasing prevalence of cardiovascular disease (CVD) is driving the market globally. According to the World Heart Federation (WHF), mortality due to CVD increased globally from 12.1 million in 1990 to 20.5 million in 2021. CVD was the leading cause of mortality globally in 2021, with four in five CVD mortality occurring in low- and middle-income countries (LMICs).

Segmental Outlook

The global ECG patch and holter monitor market is segmented on the type, application, and end-user. based on the type, the market is sub-segmented into ECG patch and holter monitors. Based on application, the market is sub-segmented into diagnostics and monitoring. Further, based on the end-user, the market is sub-segmented into hospitals & clinics and ambulatory facilities. Among the end-user, the hospitals & clinics sub-segment is anticipated to hold a considerable share of the market, owing to the growing number of patient visits to hospitals for the diagnosis of CVDs. Furthermore, the increasing number of cardiac implant procedures and their early diagnosis is another factor supporting the segmental growth.

The ECG Patche Sub-Segment is Anticipated to Hold a Considerable Share of the Global ECG Patch and Holter Monitor Market

Among the Type, the ECG patches sub-segment is expected to hold a considerable share of the global ECG Patch and Holter Monitor market. This segmental growth is attributed to several factors such as, it is becoming increasingly popular as a way to monitor heart health. These patches are relatively comfortable to wear and can be used by people of all ages. Hence the companies are focusing on introducing new and improved patches for better results. For instance, in August 2023, Vivalink released the newest version of its multi-parameter wearable electrocardiogram (ECG) patch with continuous 14-day live stream capabilities. With Vivalink’s new patch, extended duration remote ECG monitoring can be performed with a single application of the patch, thereby reducing both clinician and patient burden. In addition, the real time streaming capabilities let clinicians remotely view a patient's live ECG anywhere, anytime.

Regional Outlook

The global ECG patch and holter monitor market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced scanner devices.

The North America Region is Expected to Grow at a Significant CAGR in the Global ECG Patch and Holter Monitor Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to increasing prevalence of cardiovascular disease, the growing aging population, and the rising demand for remote monitoring coupled with growing availability of various monitoring and therapeutics devices in the regions. According to center for disease control and prevention, heart disease is the leading cause of mortality for men, women, and people of most racial and ethnic groups in the US. One person dies every 33 seconds in the US from cardiovascular disease. About 695,000 people in the US died from heart disease in 2021 that’s 1 in every 5 deaths. And Heart disease cost the United States about $239.9 billion each year from 2018 to 2019. This includes the cost of health care services, medicines, and lost productivity due to death.

Market Players Outlook

The major companies serving the global ECG patch and holter monitor market include Nissha Medical Technologies (NMT), Medtronic plc, Hill-Rom, iRhythm Technologies, Inc., and Nihon Kohden Corp., others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, UltraLinQ announced the launch of new cardiac monitoring product at Arab Health. Joining the ABHI UK Pavilion, the company will be showcasing an UltraLinQ Holter Service, enabled by LifeSignals a complete Wireless Holter Monitoring ECG Analysis and Reporting System, offering wireless ECG recording with clinical-grade wearable biosensors.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global ECG patch and holter monitor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.