Holter Monitor Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 0.78 Billion |
| Market Size (2029) | USD 1.09 Billion |
| CAGR (2024 - 2029) | 6.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Holter Monitor Market Analysis
The Holter Monitor Market size is estimated at USD 0.78 billion in 2024, and is expected to reach USD 1.09 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).
Atrial fibrillation is the most clinically significant in humans when it is viewed at global levels. It is a serious health problem because of its increasing incidence and prevalence in the geriatric population. The early diagnosis of atrial fibrillation is important since arrhythmias significantly increase the risk of heart failure, stroke, and tachycardia-induced cardiomyopathy with reduced cardiac function. The prevalence of atrial fibrillation is often miscalculated due to the high frequency of clinically silent atrial fibrillation as well as paroxysmal atrial fibrillation, both of which are hard to detect by routine physical examination or 12-lead electrocardiogram. The development of wearable devices has provided a steadfast way for healthcare providers to uncover undiagnosed atrial fibrillation in people, especially those most at risk. Artificial intelligence and wearable technology have made it possible to extract and analyze many aspects to identify and predict patient groups that traditional detection methods were unable to identify due to the exponential growth of digital clinical data.
Moreover, various advantages associated with these devices contribute to the market growth and are essential in diagnosing and assessing various heart conditions, such as arrhythmias and myocardial infarction. For instance, in August 2022, SmartCardia launched the 7L patch, its 7-lead cardiac monitoring patch, in India. This state-of-the-art patch monitor combines medical wearable technology with artificial intelligence (AI) to provide predictive and personalized patient insights through remote monitoring. Also, in March 2022, Biotricity, a US-based biotechnology company, launched a wireless, wearable cardiac monitoring device for the early detection of cardiac arrhythmias.
Furthermore, strategic efforts by prominent market competitors are positively influencing market growth. For instance, in August 2023, Philips, at the European Society of Cardiology, showcased how specific diagnostic referral codes can potentially help Holter monitoring to monitor symptoms remotely, which prevents further hospitalization. Philips has created extended ECG Holter monitoring, which can improve diagnostic outcomes. Hence, such initiatives are likely to increase the product awareness and reach, thereby contributing to the market growth.
However, the strict and complex reimbursement policies and documentation challenges are the factors that hinder the growth of the Holter monitor market.
Holter Monitor Market Trends
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.
Holter Monitor Industry Overview
The Holter monitor market is semi-fragmented in nature due to the presence of several companies operating globally and regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold market shares and are well known, including GE Healthcare, Nihon Kohden, Medtronic, ScottCare Corporation, and Nasiff Associates Inc.
Holter Monitor Market Leaders
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Nihon Kohden
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Medtronic
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ScottCare Corporation,
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Nasiff Associates, Inc
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GE HealthCare
*Disclaimer: Major Players sorted in no particular order
Holter Monitor Market News
- March 2024: Wellysis launched its remote cardiac monitoring service in the United States in partnership with Artella Solutions (ARTELLA).
- February 2023: Medtronic introduced a new device, LINQ insertable cardiac monitor, that detects 10 times more atrial fibrillation in ischemic stroke patients at three years compared to standard of care.
Holter Monitor Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increased Geriatric Population and Prevalence of Atrial Fibrillation
- 4.2.2 Rising Incidence of Cardiovascular Diseases
- 4.2.3 Increasing Demand for Early Detection and Treatment Diagnostic Tools
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4.3 Market Restraints
- 4.3.1 The Stringent Approvals and Healthcare Reimbursement Policies
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product Type
- 5.1.1 Wired Holter Monitors
- 5.1.2 Wireless Holter Monitors
- 5.1.3 Software System
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5.2 By Lead Type
- 5.2.1 Patch Type Lead Holter Monitor
- 5.2.2 3- Lead Monitor
- 5.2.3 6- Lead Monitor
- 5.2.4 12- Lead Monitor
- 5.2.5 Other Lead Type
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Ambulatory Surgical Centres
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 GE Healthcare
- 6.1.2 Nihon Kohden
- 6.1.3 ACS Diagnostic
- 6.1.4 OSI System Inc.
- 6.1.5 Boston Scientific
- 6.1.6 Koninklijke Philips NV
- 6.1.7 Medtronic
- 6.1.8 ScottCare Corporation
- 6.1.9 Nasiff Associates Inc.
- 6.1.10 Nissha Medical Technologies
- 6.1.11 Irhythem Technologies
- 6.1.12 Midmark
- 6.1.13 AliverCor Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityHolter Monitor Industry Segmentation
A Holter monitor is a small, wearable device that records the heart's rhythm. It detects and determines the risk of irregular heartbeats (arrhythmias).
The Holter monitor market is segmented by product, lead type, end user, and geography. Based on product type, the market is segmented into wired and wireless types. Based on lead type, the market is segmented as patch type lead Holter monitor, 3-lead monitor, 6-lead monitor, 12-lead monitor, and other lead types. Based on end-users, the market is segmented into hospitals, cardiac centers, ambulatory surgical centers, and other end-users. Based on geography, the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers market size and forecast in terms of value (USD) for the above segments.
| By Product Type | Wired Holter Monitors | |
| Wireless Holter Monitors | ||
| Software System | ||
| By Lead Type | Patch Type Lead Holter Monitor | |
| 3- Lead Monitor | ||
| 6- Lead Monitor | ||
| 12- Lead Monitor | ||
| Other Lead Type | ||
| By End User | Hospitals | |
| Ambulatory Surgical Centres | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Holter Monitor Market Research FAQs
How big is the Holter Monitor Market?
The Holter Monitor Market size is expected to reach USD 0.78 billion in 2024 and grow at a CAGR of 6.90% to reach USD 1.09 billion by 2029.
What is the current Holter Monitor Market size?
In 2024, the Holter Monitor Market size is expected to reach USD 0.78 billion.
Who are the key players in Holter Monitor Market?
Nihon Kohden, Medtronic, ScottCare Corporation,, Nasiff Associates, Inc and GE HealthCare are the major companies operating in the Holter Monitor Market.
Which is the fastest growing region in Holter Monitor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Holter Monitor Market?
In 2024, the North America accounts for the largest market share in Holter Monitor Market.
What years does this Holter Monitor Market cover, and what was the market size in 2023?
In 2023, the Holter Monitor Market size was estimated at USD 0.73 billion. The report covers the Holter Monitor Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Holter Monitor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Holter Monitor Industry Report
Statistics for the 2024 Holter Monitor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Holter Monitor analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
