Holter Monitor Market: Overview
The Holter monitor market is anticipated to experience significant growth opportunities in the upcoming years. This market growth is on the back of the rising prevalence of the cardiovascular diseases. The rapid increase in the geriatric population is likely to propel growth opportunities in the Holter monitor market due to their weaker immune system.
Favorable regulatory policies and advancements in telemetry are likely to propel growth opportunities in the Holter monitor market. In addition to this, the market players are also investing to detect arrhythmia in the early stages. Technological advancements and growing trends about ambulatory monitoring devices are projected to boost expansion opportunities in the Holter monitor market.
In recent years, people are becoming more conscious of individual health. They are investing a huge amount in various healthcare services and facilities. There is a growing demand for wearable devices for ECG monitoring. Owing to these healthcare factors, the Holter monitor market is projected expansion opportunities in the forthcoming years.
Holter Monitor Market: Key Trends
The portable Holter is estimated to dominate in the product segment and accounts for the largest share in the market revenue. This growth of the market segment is on the back of the aging population, rapid results, low cost, and rising prevalence of atrial fibrillation. In addition to this, novel product launches with real-time results and technological advancements are predicted to boost growth opportunities in the Holter monitor market.
A wide variety of arrhythmias has been reported among the patients during the COVID-19 pandemic. This has further brought complications in the course of COVID-19. Owing to these complications, there is an increasing demand for ambulatory devices and it further propels the growth avenues in the Holter monitor market.
The market growth in the Holter monitor devices is adversely affected due to insurance coverage policies and stringent approval guidelines. The average reimbursement of the Holter monitor study is comparatively lesser than reimbursement for cardiac telemetry. Further, a lack of expertise for data analysis in the emerging countries is likely to hamper growth impetus in the Holter monitor market.
Holter Monitor Market: Competitive Dynamics and Key Developments
The key players in the Holter monitor market are adopting different strategies to propel growth impetus in the upcoming years. Collaborations, partnerships, mergers, acquisitions, novel product launches, and several other strategies are incorporated by these market players. Owing to these strategies, the Holter monitor market is likely to experience significant growth opportunities in the upcoming years.
For instance, iRhythm Technologies has announced to provide help to physicians for the cardiac treatment to patients while using telemetry during the COVID-19 pandemic in April 2020. The organization has also provided its virtual platform Zio AT and Zio XT. These platforms are used for home enrolment to help the patients with treatment during the pandemic. The manufacturers from the Holter monitor market are putting efforts into the novel product launch with technological advancements.
Some of the key players in the Holter monitor market include:
Holter Monitor Market: Regional Assessment
The Holter monitor market is spread across different geographical locations across the globe including North America, Asia Pacific, Europe, the Middle East & Africa, and South America. Among these regions, the North America region is projected to hold a significant growth rate in the upcoming years. This regional growth in the Holter monitor market is on the back of an increasing number of novel product launches in the region during the forecast period.
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