Mobile Cardiac Telemetry Systems Market Forecast (2024-2031), Size, Share
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.
Mobile Cardiac Telemetry Systems Market Analysis
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 Systems Market Overview
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.
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Mobile Cardiac Telemetry Systems Market: Strategic Insights
Mobile Cardiac Telemetry Systems Market
-
CAGR (2023 - 2031)
12.2%
-
Market Size 2023
US$ 0.74 Billion
-
Market Size 2031
US$ 2.26 Billion
Market Dynamics
GROWTH DRIVERS
- Increasing Prevalence of Cardiovascular Diseases
FUTURE TRENDS
- Market Consolidation Through Product Enhancements and Acquisitions
OPPORTUNITIES
- Growing Inclination Towards Next-Generation Devices with a Focus on Miniaturization
- Faster Processing
- and Connectivity.
Key Players
- Medtronic
- BioTelemetry Inc Philips
- Applied Cardiac Systems Inc
- Medicomp Inc
- Preventice Solutions Inc Boston Scientific Corporation
- The Scottcare Corporation
- Medicalgorithmics SA
- Zoll Medical Corporation Asahi Kasei Group
- Telerhythmics LLC
- iRhythm Technologies Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Technology
- Lead-Based
- Patch-Based
End User
- Hospitals
- Ambulatory Surgical Centres
- Cardiac Centres
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mobile Cardiac Telemetry Systems Market: Strategic Insights
-
CAGR (2023 - 2031)12.2% -
Market Size 2023
US$ 0.74 Billion -
Market Size 2031
US$ 2.26 Billion
Market Dynamics
- Increasing Prevalence of Cardiovascular Diseases
- Market Consolidation Through Product Enhancements and Acquisitions
- Growing Inclination Towards Next-Generation Devices with a Focus on Miniaturization
- Faster Processing
- and Connectivity.
Key Players
- Medtronic
- BioTelemetry Inc Philips
- Applied Cardiac Systems Inc
- Medicomp Inc
- Preventice Solutions Inc Boston Scientific Corporation
- The Scottcare Corporation
- Medicalgorithmics SA
- Zoll Medical Corporation Asahi Kasei Group
- Telerhythmics LLC
- iRhythm Technologies Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Lead-Based
- Patch-Based
- Hospitals
- Ambulatory Surgical Centres
- Cardiac Centres
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Mobile Cardiac Telemetry Systems Market Drivers and Opportunities
Increasing Prevalence of Cardiovascular Diseases Drives Market Growth
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.
Market Consolidation Through Product Developments and Acquisitions to Favor 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.
Mobile Cardiac Telemetry Systems Market Report Segmentation Analysis
Key segments that contributed to the derivation of the mobile cardiac telemetry systems market analysis are technology and end users.
- Based on technology, the mobile cardiac telemetry systems market is divided into lead-based, and patch-based. The lead-based segment held the largest market share in 2023. In addition, the patch-based segment is anticipated to register the highest CAGR during the forecast period.
- Based on end users, the mobile cardiac telemetry systems market is divided into hospitals, ambulatory surgical centers, and cardiac centers. The hospitals segment held the largest market share in 2023 and is anticipated to register the highest CAGR during the forecast period.
Mobile Cardiac Telemetry Systems Market Share Analysis by Geography
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.
Mobile Cardiac Telemetry Systems Market Report Scope
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 |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Mobile Cardiac Telemetry Systems Market News and Recent Developments
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:
- In May 2021, VitalConnect, Inc. launched the VitalPatch RTM mobile cardiac telemetry (MCT) solution. The launch of the MCT platform placed VitalConnect in a category by itself, offering the only cardiac monitoring solution available with a flexible, programmable platform covering multiple cardiac monitoring needs. The platform allows for continuous, real-time cardiac arrhythmia detection while simultaneously measuring patient physiological parameters. (Source: VitalConnect, Press Release, 2021)
- In July 2020, Biotricity Inc. signed a partnership agreement with Verizon to develop EMS solutions for the first responders by integrating its Bioflux solution. Bioflux is a single-unit, high-precision handheld mobile cardiac telemetry (MCT) system that monitors and transmits patients' ECG data in real-time. (Source: Airtricity, Press Release, 2020)
Mobile Cardiac Telemetry Systems Market Report Coverage and Deliverables
The “Mobile Cardiac Telemetry Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina