The mobile cardiac telemetry systems market size in 2023 stood at US$ 0.74 billion and is projected to reach US$ 2.26 billion by 2031. The market is expected to register a CAGR of 12.2% in 2023–2031. Growing inclination towards next-generation devices focusing on miniaturization, faster processing, and connectivity will likely remain key mobile cardiac telemetry systems market trends.
The expansion of the healthcare industry, growing incidence of cardiovascular diseases, new product launches, and technological advancements in mobile cardiac telemetry systems are some of the major factors supporting the growth of the mobile cardiac telemetry systems market. In addition, technological advancements make it easy to obtain information about heart functioning without interrupting the life of the patient. Improved health insurance coverage for the treatment of cardiac diseases and enhanced memory storage capabilities by software are likely to support the growth in the market. The growing benefits of monitoring patients with mobile cardiac telemetry and the increasing geriatric population are anticipated to improve the growth of the global market. Therefore, the growing incidence of cardiovascular diseases is likely to continue to boost mobile cardiac telemetry sales during the forecast period.
Mobile Cardiac Telemetry (MCT) is a medical device designed to continuously monitor a patient’s cardiac activities over an extended period. The small and portable device allows patients to wear it comfortably while carrying out their daily activities at home or on the go. MCT is one of the most effective cardiac monitoring methods. The ability to analyze every heartbeat with little interference to the patient’s normal day and the opportunity to initiate an immediate emergency response as needed makes it one of the most attractive choices in today’s market. The increasing incidence of heart diseases, including cardiovascular diseases, stroke, and others, the presence of well-developed healthcare infrastructure, and government support are some of the prominent factors favoring the growth of the market. As per the research article titled “Cardiovascular Disease Mortality and Potential Risk Factor in China: A Multi-Dimensional Assessment by a Grey Relational Approach,” published in April 2022, CVD is one of the major healthcare burdens in the country. In addition, 290 million people are suffering from cardiac disorders, stroke (13 million), coronary heart disease (11 million), rheumatic heart disease (2.5 million), heart failure (4.5 million), congenital heart disease (2 million), and pulmonary heart disease (5 million) in China.
Cardiovascular diseases (CVDs) are among the top 10 leading causes of death around the world; and include disorders of the heart and blood vessels, such as cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Some of the major factors that lead to death and difficulties are smoking, unhealthy diet, and physical inactivity, which increases the risk of heart attacks and strokes. As per the report published by the World Heart Federation projects, over half a billion people are living with CVD worldwide, accounting for 20.5 million deaths in 2021. According to the WHO, 17.9 million people die from CVD yearly, representing 32% of all deaths worldwide. Additionally, the UK Factsheet January 2022, published by the British Heart Foundation, shows that ~7.6 million people with CVD live in the UK.
According to the Centers for Disease Control and Prevention (CDC), every 40 seconds, an American experiences a heart attack. Of the total 805,000 heart attack victims in the US reported annually. Mobile cardiac telemetry systems are small portable devices that monitor the cardiac activity of patients. Owing to the rising cases of CVD globally, the need and demand for mobile cardiac telemetry systems for the treatment of CVD is increasing, thereby driving mobile cardiac telemetry systems market growth.
With the increasing patient population and rising awareness of technologies, companies are striving to expand their manufacturing capabilities. This factor has led to geographic diversification, therapeutic and development expertise building, huge capital generation, and steady technical resource availability among the industry players, which helps them meet the requirements of healthcare facilities and patients suffering from CVDs.
In January 2021, Boston Scientific Inc. entered into a definitive agreement to acquire Preventice Solutions, Inc., a privately-held company, offering a complete portfolio of mobile cardiac health solutions and services, varying from ambulatory cardiac monitors – including short and long-term Holter monitors – to cardiac event monitors, and mobile cardiac telemetry.
In March 2022, ZOLL Medical Corporation, an Asahi Kasei company, launched a next-generation MCT solution, the ZOLL arrhythmia management system (AMS). ZOLL AMS incorporates biometric data (heart rate, activity, respiratory rate, and body posture) into the ECG information provided by traditional MCT devices, facilitating physicians to make more informed patient treatment plans.
Thus, such efforts by market players are likely to create considerable growth opportunities for the mobile cardiac telemetry systems market in the future.
Key segments that contributed to the derivation of the mobile cardiac telemetry systems market analysis are technology and end users.
The geographic scope of the mobile cardiac telemetry systems market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the mobile cardiac telemetry systems market. North American market is expanding due to a number of factors, including the rising prevalence of CVD, an increase in product approvals, rising awareness regarding mobile cardiac telemetry systems, and the availability of products by various market leaders. As per the American Heart Association, almost half of all US adults have some kind of CVD. 1 out of every 5 deaths reported in the country is due to CVD. Over 130 million people, i.e., 45.1% of the US population, are predicted to have a type of CVD by 2035. As per the Million Hearts 2021 data, ~1.5 million heart attacks (myocardial infarctions) and strokes occur in the US yearly. In addition, the growing geriatric population, rising healthcare expenditure, and the presence of key service providers with improved healthcare solutions are anticipated to fuel the market growth during the forecast period. Asia Pacific is expected to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Mobile Cardiac Telemetry Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mobile Cardiac Telemetry Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 0.74 Billion |
| Market Size by 2031 | US$ 2.26 Billion |
| Global CAGR (2023 - 2031) | 12.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Mobile Cardiac Telemetry Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Mobile Cardiac Telemetry Systems Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The mobile cardiac telemetry systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for mobile cardiac telemetry systems and strategies:
The “Mobile Cardiac Telemetry Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: