Holter Monitoring Systems Market – Insights
Holter monitor is a portable electrocardiograph (ECG) device used to continuously record a patient’s heart activity. It is the size of a small camera and has wires with silver dollar-sized electrodes that attach to the skin. Holter monitor is powered by a battery and can operate for 24 to 48 hours or longer depending on the type of monitoring used.

Statistics:
The global Holter monitoring systems market is estimated to account for US$ 1,397.1 Mn in terms of value by the end of 2027.

Global Holter Monitoring Systems Market: Drivers

Increasing prevalence of cardiovascular diseases (CVDs) is expected to propel growth of the global Holter monitoring systems market over the forecast period. For instance, according to American Heart Association’s Heart Disease and Stroke Statistics 2018, around 92.1 million adults in the U.S. are suffering from some form of CVD or the after-effects of stroke.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015.

North America region held dominant position in the global Holter monitoring systems market in 2019, accounting for 34.6% share in terms of value, followed by 2027.

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Global Holter Monitoring Systems Market: Restraints

Holter monitoring devices are subject to stringent approval guidelines and insurance coverage policies related to the devices are weak in several countries, which is expected to hinder growth of the market. The average reimbursement for Holter monitoring study is estimated to be less than US$ 100, which is comparatively lesser than mobile cardiac telemetry reimbursement.

Moreover, lack of expertise required for analysis of data in emerging countries is also hampering growth of the Holter monitoring systems market.

Global Holter Monitoring Systems Market: Opportunities

Increasing emphasis on development of expertise in handling of Holter monitoring systems is expected to offer lucrative growth opportunities for players in the market. For instance, NorthEast Monitoring, Inc., a U.S.-based company, offers training for Holter technology with its ambulatory cardiac hardware and software solutions.

Moreover, increasing number of public and private hospitals in emerging economies is also expected to aid in growth of the market. For instance, according to Ministry of Health and Family Welfare, Government of India, the number of government hospitals in India increased from 35,416 in 2017 to 37, 725 in 2018.

Hospitals segment in the global Holter monitoring systems market was valued at US$ 529.0 Mn in 2019 and is expected to reach US$ 775.8 Mn by 2027 at a CAGR of 4.9% during the forecast period.

Market Trends/Key Takeaways

Integration of data management systems with Holter monitors aids in providing comprehensive electrocardiographs along with patient history, which can be accessed remotely.

Moreover, the demand for implantable cardiac monitors is on the rise. An implantable loop recorder can allow for long-term heart rhythm monitoring and can offer more insights compared to Holter monitor.

Global Holter Monitoring Systems Market: Competitive Landscape

Major players operating in the global Holter monitoring systems market include, Koninklijke Philips N.V., Welch Allyn, Inc., Biotricity Inc., Bittium Corporation, Schiller AG, Shimmer, Fukuda Denshi Co., Ltd., Nihon Kohden Corporation, VivaQuant, and GE Healthcare.

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Global Holter Monitoring Systems Market: Key Developments

Major players in the market are focused on raising investment to expand their product portfolio. For instance, in December 2019, Biotricity Inc., a medical diagnostic and consumer healthcare technology company, raised US$ 6 million for FDA Filing for its patch solution within the first 6 months of 2020, which will be a novel product in the field of Holter monitoring.

Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in November 2019, Bittium Corporation, a Finland-based cardiology and neurology device company, presented Bittium HolterPlus, a web-based remote cardiac monitoring solution, consisting of a Bittium Faros ECG device and Bittium HolterPlus mobile application, at Medica 2019, a leading international trade fair for the medical sector that was held in Germany.

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