Holter ECG market in terms of revenue was estimated to be worth $416 million in 2022 and is poised to reach $558 million by 2027, growing at a CAGR of 6.1% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The increasing prevalence of patients suffering from cardiovascular disease (CVD) and the need for early and continuous diagnosis are the major factors contributing to the growth of this market. The growing geriatric population and technological advancements in wireless monitoring and wearable devices are also supporting market growth. However, the shortage of skilled professionals to monitor Holter ECG reports with accuracy is likely to hamper the growth of the Holter ECG market.

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Based on product, the Holter ECG market is segmented into wired Holter ECG monitors, wireless Holter ECG monitors, and software. In 2021, the wired Holter ECG monitors segment accounted for a major share of the market. The large share of this segment is attributed to the wide applications of these devices in CVD management as well as their low cost.

Based on lead type, the Holter ECG market is segmented into patch type 1-lead, 3-lead, 6-lead, 12-lead, and other lead types (such as 4-, 5-, and 7-lead Holter ECG monitors, among others). In 2021, the 12-lead Holter monitors segment accounted for the largest share of the Holter ECG market. This is mainly attributed to the higher clarity obtained by using a larger number of leads. 12-lead ECG devices provide a highly detailed outlook, making it easier to interpret cardiac electrical activity.

Based on end user, the Holter ECG market is segmented into hospitals and specialty clinics, ambulatory surgical centers, and other end users. The hospitals and specialty clinics segment accounted for the largest share of the global market in 2021. The large share of this segment is attributed to the increasing prevalence of CVD, the growing number of patient visits to physician offices for the diagnosis of CVD, the increasing number of cardiac implant procedures, and the availability of reimbursement for these procedures across developed markets.

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Based on the region segmentation, the Holter ECG market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the Holter ECG market. The large share of the North American market can be attributed to the high burden of CVD, increasing healthcare expenditure, and the growing availability of technologically advanced devices in the region.

Key Market Players:

Major players operating in the Holter ECG market include GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), and Hill-Rom Holdings, Inc. (Baxter International Inc.) (US). These companies have strong distribution networks across key regions, such as North America, Europe, and Asia Pacific. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies. Furthermore, these companies have a significant market share in maximum countries along with multi-purpose products and a larger product footprint.

Recent Developments:

• In 2022, Royal Philips (Netherlands) partnered with Prisma Health (US) to help the health system achieve enterprise interoperability, standardize patient monitoring, and drive innovation in enterprise imaging solutions to enhance patient care and improve clinical performance.
• In 2021, Royal Philips (Netherlands) acquired BioTelemetry, Inc. Capsule Technologie (US) to strengthen Philips’ cardiac care portfolio, cardiac diagnostics, and monitoring services, which are included in the Connected Care segment.

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