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The ECG Telemetry Devices Market is segmented By Product (Covering Event Monitoring and MCT (mobile cardiac telemetry)), and Other products (Implantable Loop Recorder), By Application and Geography.
Fastest Growing Market:
The ECG Telemetry Devices Market is expected to register a CAGR of 8.8% during the forecast period. Along with the rising population, the number of older people is also increasing, and the number of deaths due to cardiovascular diseases is on the rise.
As per scope of the report, ECG telemetry devices are used in the monitoring of electrical activities of the heart. These devices help in the detection of electrical impulses generated by cardiac tissues, which are then translated into waveforms. The ECG telemetry devices market is segmented by product, application and geography.
|Event Monitoring and MCT (Mobile Cardiac Telemetry)|
|Other Products (Implantable Loop Recorder)|
|Myocardial Ischemia and Infarction|
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Arrhythmia is a condition, in which the heart rhythm becomes abnormal. The electrical impulses occur too fast or too slow, leading to the reduced efficiency of the heart to pump blood. For the diagnoses of arrhythmias, various devices are used. However, ECG telemetry devices are the most effective tools for the detection of arrhythmias. According to World Ageing 2019 report, there were about 703 million population aged 65 years or over in the world in 2019. And this number of the elderly population is projected to double to 1.5 billion in 2050. Moreover, by 2050, 1 in 6 people in the world will be over the age of 65, up from 1 in 11 in 2019. As the number of the elderly population is expected to rise in coming years and this population are more prone to cardiovascular diseases such as arrhythmias which are expected to show a positive impact on the market.
As the prevalence of arrhythmia is expected to rise, the need for better diagnostic tools is increasing. Hence, ECG telemetry devices are of much significance, as they provide easier and faster monitoring of the heart.
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Cardiovascular diseases are the major cause of deaths in the United States and the primary cause of acute care and physician visits. According to the Centers for Disease Control and Prevention (CDC), in the United States, every year, about 735,000 people suffer from heart attacks. Thus, the rise in the number of cardiovascular diseases (CVDs) and heart attacks lead to an increased demand for diagnostic tools, in the country.
The cardiovascular diagnostic sector prefers ECG telemetry devices, as they are the easiest and fastest tools for the diagnoses of CVDs. The United States provides good reimbursement facilities for patients suffering from cardiovascular diseases. This factor is helping the growth of the ECG telemetry devices market. In the United States, government initiatives, such as ‘A Public Health Action Plan to Prevent Heart Disease and Stroke’, are also increasing the utilization of novel technologies. This is ultimately contributing to the growth of the ECG telemetry devices market in the United States.
Additionally, investments in healthcare are increasing in the United States, which is ultimately helping the growth of the ECG telemetry devices market.
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The ECG telemetry devices market is fragmented competitive, and there are multiple companies that are doing well in the market. However, some of the companies are contributing the most to this market and dominating certain geographies. With the rising focus on product development and the increasing usage of technology in healthcare, more small and mid-sized companies are expected to enter the market in the future. Some of the companies which are currently dominating the market are Aerotel Medical Systems Ltd, BioTelemetry Inc., GE Healthcare (GE Company), Medtronic Inc., iRhythm Technologies Inc., Nihon Kohden Corporation, Philips Healthcare, Medicalgorithmics SA, Preventice Solutions Inc. and Hill-Rom Services Inc. (Welch Allyn).
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Cardiovascular Disease Rates
4.2.2 Technological Advancements in Remote Monitoring Technologies
4.3 Market Restraints
4.3.1 Cost Constraint
4.3.2 Complex Reimbursement Policies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Event Monitoring and MCT (Mobile Cardiac Telemetry)
5.1.2 Other Products (Implantable Loop Recorder)
5.2 By Application
5.2.2 Myocardial Ischemia and Infarction
5.2.3 Pacemaker Monitoring
5.2.4 Other Applications
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East & Africa
5.3.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Aerotel Medical Systems Ltd
6.1.2 BioTelemetry Inc.
6.1.3 GE Healthcare (GE Company)
6.1.4 Medtronic Inc.
6.1.5 iRhythm Technologies Inc.
6.1.6 Nihon Kohden Corporation
6.1.7 Philips Healthcare
6.1.8 Medicalgorithmics SA
6.1.9 Preventice Solutions Inc.
6.1.10 Hill-Rom Services Inc. (Welch Allyn)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments