North America ECG Patch and Holter Monitoring Market generated revenue of US$ 1,161.4 million in 2022. The market is projected to surpass a revenue of US$ 4,413.3 million by 2031, growing at a CAGR of 15.99% during the forecast period from 2023 to 2031.
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The North America ECG patches and Holter monitoring market has grown quickly in recent years, demonstrating the region’s commitment to promoting cardiovascular health solutions. This rise is due to a number of market reasons, such as population aging, an uptick in cardiovascular diseases, an increase in the prevalence of AFib, and technological advancements. The United States stands out as a significant market revenue contributor.
Atrial fibrillation is a common type of arrhythmia, which is rising at a rapid rate. Additionally, this illness also contributes to a sizable number of fatalities. AFib was listed on 183,321 death certificates in 2019 and was the primary factor in 26,535 of those fatalities, according to the Centers for Disease Control and Prevention. In the US, 12.1 million people will develop AFib by 2030. As a result, the market will rise due to the increasing prevalence of AFib and the fact that Holter monitors are the most used AFib detection tool worldwide.
In addition, the increased telemedicine use and remote patient monitoring will increase demand for ECG and Holter monitors in the upcoming years. In North America, telehealth services had already grown by 250% from the previous year by 2022. It is more convenient for consumers and healthcare providers, especially in distant or underdeveloped locations, because these technologies enable medical practitioners to remotely monitor patients’ heart health. Furthermore, the global telecardiology market, a branch of telehealth that focuses on cardiology, will grow at a CAGR of 17.5% to reach $65.3 billion. North America is well-positioned to drive this expansion since it holds close to 40% of the global market.
Diagnostics Segment Control More Than 50% of Market Revenue Share
The diagnostic segment dominates the electrocardiogram patches and Holter monitoring market. It currently has a market share of more than 68.6%. Their dominance is due to the importance of these monitoring methods in identifying different heart diseases.
Early and precise diagnosis is crucial given the increased prevalence of cardiovascular illnesses in North America. For instance, the American Heart Association (AHA) predicts that by 2030, almost 40% of Americans will have a cardiovascular illness of some kind. The significance of ECG patches and Holter monitors in the field of diagnostics is only expected to increase since they offer priceless insights into aberrant cardiac rhythms and beats.
United States Capturing More Than Half of the Revenue Share
The United States stands out as a large contributor and a dominant leader, with a market share of over 84%. The US has dominated this market due to its excellent healthcare system and significant focus on cardiovascular health.
A significant portion can be due to the developed healthcare system in the country, increased awareness, and increased research and development initiatives. Additionally, the technique was widely adopted; by 2022, about 30 million Americans had worn some type of ECG patch for monitoring.
Over half of adults have a cardiovascular disease, according to alarming statistics from the American Heart Association, which has sparked a dire demand for top-notch diagnostic and monitoring tools. This urgency will only increase as the aging population, which is more susceptible to cardiac ailments, is projected to grow to 74 million people by 2030.
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The US’s continued dominance in the market depends on innovation. The nation’s consistent history of being at the forefront of medical technological advancements and its investment appetite, which pumped over $14 billion into health tech startups in 2022, ensure that healthcare providers have access to the most cutting-edge ECG patches and Holter monitors.
The ECG patches and Holter monitoring market in North America is fragmented due to the abundance of small, local service providers. ECG patches and Holter monitors are two examples of cardiac monitoring equipment offered by major healthcare organizations.
List of Prominent Players Include
- AliveCor, Inc.
- Cardiac Insight Inc.
- Fukuda Denshi Co., Ltd.
- GE Healthcare
- Koninklijke Philips N.V.
- Medtronic plc
- LifeSignals, Inc.
- Schiller AG
- Nihon Kohden Corporation
- Other Prominent Players
The North America ECG patch and Holter monitoring market segmentation focuses on Product, Application, End User, and Country.
- ECG Patch
- Holter Monitor
- Single Holter Monitors
- 3 Lead Holter Monitors
- 6 Lead Holter Monitors
- 12 Lead Holter Monitors
- Long-term (or continuous) monitoring
- Automatic analysis
- Extended cardiac monitoring
By End User
- Hospitals & Clinics
- Home Settings & Ambulatory Facilities
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