Cardiac Holter monitors are utilized for the purpose of recording electrical activities of the heart. The device is operational on small batteries so as to record rhythm of heart for 24 to 48 hours. The holter monitor device comprises a recorder and software. The recorder is used for the purpose of recording the heart’s rhythm and the software is utilized for the purpose of interpretation of the recorded data. The cardiac holter monitor is most used for the purpose of diagnosis and analysis of bradycardia, atrial, fibrillation, and cardiac arrhythmia. Increase in government funding so as to create awareness about various cardiovascular disorders and its prevention, investments in research and development of advanced diagnostic devices, and shift of population towards preventive healthcare are the significant drivers of the said market.
A few of the important market players that are operating in the world market for cardiac holter monitor are The ScottCare Corporation, GE Healthcare, Spacelabs Healthcare, FUKUDA DENSHI, Nasiff Associates, Inc., Koninklijke Philips N.V., Biomedical Instruments Co., Ltd., Schiller, BTL, LifeWatch AG, and Welch Allyn.
In accordance with TMR, the international market for cardiac holter monitor was to be worth around US$ 293.8 mn in the year 2015 and is expected to attain a market valuation of around US$ 518.9 mn by the end of 2024, thereby expanding at a growth rate of around 6.6% CAGR from the year 2016 to the year 2024.
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North America to Lead the Market During the Forecast Period
Regionally, the world market for cardiac holter monitor market is divided into the Middle East and Africa, Latin America, Europe, North America, and Asia Pacific. North America holds lion’s share of the world market for cardiac holter in the year 2015, owing to increasing preference of patients towards minimally invasive diagnostic tools and better funding from government for the treatment of cardiovascular disorder. North America is anticipated to continue with its dominance in the market for cardiac holter monitor, which is attributed to the investments that is being made by the significant market players in the industry of medical devices, and constant rise in incidences of cardiovascular disorders in the region of North America. The region of Asia Pacific is expected to be a rapidly growing segment, with a very high CAGR in the years to come.