ECG Patch & Holter Monitor Market by Product, Application, End Use

Description

List of Tables

[194 Pages Report] The ECG Patch & Holter Monitor Market size was estimated at USD 1.99 billion in 2023 and expected to reach USD 2.17 billion in 2024, at a CAGR 9.53% to reach USD 3.76 billion by 2030.

An electrocardiogram (ECG) patch is a device that monitors and records the heart's electrical activity over an extended period. It is designed to be worn on the chest and continuously captures the heart's electrical signals, allowing healthcare professionals to analyze and diagnose various heart conditions. The ECG patch typically consists of a small, adhesive patch with built-in electrodes that adhere to the patient's skin, identify the heart's minute electrical signals, and transmit them to the chest's surface. The patch is usually wireless and lightweight, making it comfortable for the patient to wear for an extended duration. A Holter monitor is a portable device used for ambulatory ECG monitoring over an extended period, usually 24 to 48 hours or more. The Holter monitor consists of a small, battery-powered recorder worn by the patient and has multiple electrodes attached to the chest, similar to standard ECG leads. The increasing prevalence of atrial fibrillation and cardiovascular disorders and the demand for ambulatory monitoring devices raised the need for flexible ECG patch monitors in ambulatory facilities, hospitals, and clinics. However, several side effects of Holter monitor and concern regarding the accuracy of the ECG patch & Holter monitors significantly impedes their utilization in hospitals and clinics. In addition, technological advancements in ECG patch & Holter monitor with the integration of mobile applications, artificial intelligence, and wireless connectivity to view ECG data, track symptoms, and share the information directly with healthcare providers with real-time transmission are expected to create robust opportunities for market development.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.99 billion
Estimated Year [2024]	USD 2.17 billion
Forecast Year [2030]	USD 3.76 billion
CAGR (%)	9.53%

Product: Growing usage of ECG patches to get accurate heart rate readings

ECG patches are small adhesive patches that attach to the skin and detect electrical heart activity and can be worn for up to 14 days and provide accurate heart rate readings. The Holter monitors are small portable devices worn for up to 24 hours to monitor heart activity used in medical settings. Wireless Holter monitors utilize Bluetooth technology to connect to a compatible smartphone or tablet device, allowing patients to access their ECG data remotely. Additionally, many wireless monitors include software applications or mobile apps that allow users to view their ECG waveforms in real time, receive notifications when abnormal readings are detected, and store their results online for future reference.

End-use: Expanding scope of ECG patch across ambulatory facilities

ECG patch and Holter monitors are widely used in ambulatory facilities to monitor patients' heart activity over an extended period. These facilities include ambulatory surgery centers, diagnostic centers, cardiology clinics, and specialized clinics for specific medical conditions. ECG patch and Holter monitor devices enable healthcare professionals to assess and diagnose cardiac conditions outside of a hospital setting, allowing patients to continue their daily activities while being monitored. Hospitals & clinics are the primary healthcare institutions that provide comprehensive medical services, including diagnostic, therapeutic, and surgical procedures. In hospitals, ECG patch and Holter monitor devices are utilized for various purposes, including monitoring patients with suspected or known cardiac conditions, assessing the effectiveness of treatments, and evaluating patients during recovery.

Regional Insights

In the Americas region, the shift in the trend toward ambulatory monitoring devices, rising investments for early detection of arrhythmia, favorable government regulatory policies, and technological advancements in ECG patch & Holter monitors have propelled the market's growth. The launch of next-generation and advanced wireless ECG monitoring devices and technological collaborations between native manufacturers are expected to create robust opportunities for market development in the region. In the Asia-Pacific region, especially in India, China, and Japan, the rapidly growing geriatric population coupled with the increasing incidence of cardiovascular diseases (CVDs) and atrial fibrillation (AFib) and developing healthcare infrastructure in emerging economies have improved the need for ECG patch & Holter monitors, further contributing to the market's growth. In the EMEA region, the adoption of advanced monitoring devices at ambulatory centers and increased investments in wearable monitors by the major manufacturers have raised the need for ECG patch & Holter monitors in hospitals, clinics, and ambulatory centers.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the ECG Patch & Holter Monitor Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the ECG Patch & Holter Monitor Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the ECG Patch & Holter Monitor Market, highlighting leading vendors and their innovative profiles. These include AliveCor, Inc., Bardy Diagnostics, Inc., BPL Medical technologies Pvt Ltd., Canadian Cardiac Care, Cardiac Insight Inc., Cortrium ApS, First Call Medical, Inc., GE HealthCare Technologies Inc., Hillrom Holdings, Inc., iRhythm Technologies, Inc., Koninklijke Philips N.V., Lief Therapeutics, LifeSignals Group Inc., m-Health Solutions by ELNA Medical Group Inc., Medtronic PLC, MidMark Corporation, Monitra Healthcare Private Limited, Nasiff Associates Inc., Nihon Kohden Corporation, Nissha Medical Technologies, OSI Systems, Inc., ReactDx, Schiller AG, ScottCare Corporation, Seers Technology Co., Ltd., SmartCardia SA, Stratus, Viatom Technology Co., Ltd. by Lepu Medical Group, VitalConnect, VivaLNK, Inc., and ZOLL Medical Corporation.

Market Segmentation & Coverage

This research report categorizes the ECG Patch & Holter Monitor Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- ECG Patch
- Holter Monitors
  - Holter Analysis System & Software
  - Wired Holter Monitors
  - Wireless Holter Monitors
Application
- Diagnostics
- Monitoring

End Use
- Ambulatory Facilities
- Hospitals & Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the ECG Patch & Holter Monitor Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the ECG Patch & Holter Monitor Market?

3. What are the technology trends and regulatory frameworks in the ECG Patch & Holter Monitor Market?

4. What is the market share of the leading vendors in the ECG Patch & Holter Monitor Market?

5. Which modes and strategic moves are suitable for entering the ECG Patch & Holter Monitor Market?

Product Code: MRR-8C74ADFC02F9

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing Prevalence of Atrial Fibrillation and Cardiovascular Disorders
  - 5.1.1.2. Increasing Demand for Ambulatory Monitoring Devices
- 5.1.2. Restraints
  - 5.1.2.1. Concern Regarding Accuracy of the ECG Patch & Holter Monitors
- 5.1.3. Opportunities
  - 5.1.3.1. Technological Advancements in ECG Patch & Holter Monitor
  - 5.1.3.2. Increasing Adoption of Flexible ECG Patch Monitors
- 5.1.4. Challenges
  - 5.1.4.1. Side Effects Associated with ECG Patch & Holter Monitor
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing usage of ECG patches to get accurate heart rate readings
- 5.2.2. End-use: Expanding scope of ECG patch across ambulatory facilities
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. ECG Patch & Holter Monitor Market, by Product

6.1. Introduction
6.2. ECG Patch
6.3. Holter Monitors

7. ECG Patch & Holter Monitor Market, by Application

7.1. Introduction
7.2. Diagnostics
7.3. Monitoring

8. ECG Patch & Holter Monitor Market, by End Use

8.1. Introduction
8.2. Ambulatory Facilities
8.3. Hospitals & Clinics

9. Americas ECG Patch & Holter Monitor Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific ECG Patch & Holter Monitor Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa ECG Patch & Holter Monitor Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Vivalink Releases 14-Day Live Stream Wearable ECG Patch for Ambulatory Cardiac Monitoring
- 12.3.2. VTT Creates A Biodegradable Ecg Patch And Supports Wearable Electronic Devices
- 12.3.3. Korea's 1st long-term continuous ECG device gets FDA approval

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio