Global Mobile Cardiac Telemetry Devices Market Is Expected to Attain A Market Size of US$ 1,264 Million By 2025, Growing at A CAGR of 12.34% During 2019-2025 Period
The Mobile Cardiac Telemetry market is anticipated to gain a market worth of US$ 1,264 million by 2025, expanding at a CAGR of 12.34% during the forecast period 2019-2025. The main reason for such escalation of the technology is the growing world's geriatric population and prevalence of cardiovascular diseases. Moreover, interoperability and wireless technology to enhance real-time, remote monitoring and transition of care delivery from hospital to home will mark as a trend in this industry. The increasing trend of heart disease has turned the attention of researchers toward the use of portable connected technologies. The necessity of continuous special care for cardiovascular patients is an inevitable fact. The digital revolution has transformed virtually every industry as well as every facet of personal lives but has been conspicuously absent from the world of medicine. Physicians and health care networks have been slow to adopt electronic medical records and integrate medical data with the ubiquitous mobile device. In recent years the prevalence of chronic diseases has increased due to the rise in life expectancy and changes in lifestyle, and thus people suffering from these pathologies often need continuous monitoring of their vital signs. The mobile health field can provide new access opportunities for treatment and medical services, constituting a valuable support instrument for both patients and doctors.
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Intricating cardiac complexities are the primary factor associated with healthcare costs and the highest cause of death rate globally. However, preventive measures like the early detection of cardiac anomalies can prevent severe cardiovascular arrests of varying complexities and can impose a substantial impact on healthcare costs. Encountering such scenarios usually the electrocardiogram (ECG or EKG) is the first diagnostic choice of a medical practitioner or clinical staff to measure the electrical and muscular fitness of an individual heart. It is imperative to mention that out of overall mortality rate linked with CVD, 47% of death happens out of cardiac care units. Out of cardiac care, monitoring triggered a massive interest in the development of wearable devices and sensors for the proactive healthcare monitoring system. Whenever a person encounters any cardiac anomaly or a symptom pertaining to CVD, a cardiologist or practitioner usually checks his/her physiological parameters like blood pressure, oxygen saturation, heart rate, and analyze electrocardiogram. Even the patients admitted under cardiac care unit after having cardiac arrest are being monitored continuously for aforesaid physiological signals. However, clinicians required numerous devices like ECG, Holter, pulse oximeter and many other devices for the observation of these physiological parameters after encountering the CVD.
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The global Mobile Cardiac Telemetry Devices market is segmented based on technology (lead-based and patch-based devices) and end-user (hospitals, ambulatory surgical centres and home settings). Under the technology segment, in 2018, the lead-based devices dominated the global mobile cardiac telemetry devices market with the maximum share in terms of revenue. Based on estimation, the segment occupied 60.2% share. However, the patch-based devices are anticipated to grow by the highest CAGR of 13.25%. Hospitals are the major end-users of mobile telemetry device technology; the segment generated a revenue of US$ 350.5 million in 2018. However, home setting segment is expected to witness highest CAGR of 14.92% during the forecast period (2019-2025).
Also, for better understanding of the overall adoption rate of mobile cardiac telemetry devices in different developed and developing markets, detailed analysis has been conducted for different regions/countries including North America (US, Canada), Europe (UK, Germany, France, Spain, Italy), Asia-Pacific (China, India, Japan, Australia), and the Rest of the World (Middle East and Latin America). Based on the estimation, Europe dominated the Mobile Cardiac Telemetry devices market, accounting for a revenue share of 31.9% in 2018. The rising incidence of cardiovascular diseases in Europe is influencing the healthcare service providers to implement advanced telehealth services. Hence, the increasing usage of telecardiology is expected to drive the market. Further, the rise in geriatric population in Asia-Pacific and North America are anticipated to fuel the Mobile Cardiac Telemetry market in both the regions in the coming years.
Asahi Kasei Corp., BioTelemetry Inc., Biotricity, Comarch, Hill-Rom Holdings Inc, Infobionic, Koninklijke Philips N.V., Medicalgorithmics, Medicomp and Preventice are some of the prominent players operating in the global Mobile Cardiac Telemetry Devices industry. These players are adopting several growth strategies including acquisition, product launches, partnership and business expansion to increase their market presence and benefit as first mover advantages. The industry has also witnessed the emergence of several start-ups in the respective domain, majorly in the European region.
Global Mobile Cardiac Telemetry Devices Market Segmentation
Market Insights, by Technology
Market Insights, by End User
- Ambulatory Surgical Centres
- Home Settings
Market Insights, by Region
- North America Mobile Cardiac Telemetry Devices market
- United States
- Rest of North America
- Europe Mobile Cardiac Telemetry Devices market
- United Kingdom
- Rest of Europe
- Asia Pacific Mobile Cardiac Telemetry Devices market
- Rest of Asia Pacific
- Rest of the World Mobile Cardiac Telemetry Devices market
- South Africa
- Rest of the world
Top Company Profiles
- Asahi Kasei Corp.
- BioTelemetry Inc.
- Hill-Rom Holdings Inc
- Koninklijke Philips N.V.
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