NOIDA, India, Sept. 14, 2020 /PRNewswire/ -- UnivDatos Market Insights released a report titled "Mobile Cardiac Telemetry Devices MarketBy Technology (Lead-Based, Patch Based), End-User (Hospitals, Ambulatory Surgical Centers, Home Setting) and Region (North America, Europe, Asia-Pacific and Rest of World) - Current Analysis and Forecast (2019-2025)." According to UMI analysis, the market was valued at US$ 563.7 million in 2018 and is predicted to reach US$ 1,264 million by 2025. The market registered a tremendous growth with a 12.34% CAGR during the forecast period (2019-2025).
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Mobile Cardiac Telemetry (MCT) technology allows the monitoring of the patient over 24 hours due to its compact design.Heart disease is one of the leading causes of death globally. More than 46% of US adults are estimated to suffer from hypertension. The increasing rate of chronic diseases in the aging population is also becoming a serious area of concern due to the lack of sufficient facilities and extremely high cost. More than 8 million patients with chest pain make an appearance to the Emergency Departments (ED) each year. Additionally, the popular industry trends which encompass the transition of care delivery from hospital to home and interoperability and wireless technology to enhance real-time, remote monitoring, also expected to boost the market growth. The report highlights the quantitative as well as qualitative factors which will lead to the higher adoption of these devices in the upcoming years.
The report also highlights the reimbursement policy that includes Holter monitoring reimbursement, mobile cardiac telemetry reimbursement, cardiac event monitoring reimbursement along with medical national coverage. It also presents the 2017 ISHNE-HRS expert consensus statement on ambulatory ECG and external cardiac monitoring/ telemetry shedding a light on the reimbursement policies in Europe.
Global Mobile Cardiac Telemetry Devices Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily bifurcated into
The lead-based devices conquered the market in 2018 and are anticipated to maintain market growth throughout the forecast. ECG patch monitor is a single-lead ECG monitor with an adhesive patch, it is applied to the left pectoral region and the signal can be transmitted on the doctor's phone directly.
By End-User, the market is primarily bifurcated into
Ambulatory Surgical Centres
The hospital segment is the major end-user of mobile telemetry device technology. This end-user generated a revenue of US$ 350.5 million in 2018 and is expected to grow at a CAGR of 11.67% during the forecast period. Ambulatory surgical centers also use these devices for the real-time diagnosis of the patient. The popularity of healthcare in-home settings is also rising due to the increasing preference of it by the elderly population.
Global Mobile Cardiac Telemetry Devices Market Geographical Segmentation Includes:
North America (United States, Canada and Rest of NA)
Europe (Germany, United Kingdom, France, Italy, Sweden, Netherlands and Rest of Europe)
Asia-Pacific (China, Japan, India and Rest of APAC)
Rest of World (Brazil, South Africa and Other Rest of World)
Based on the estimation, Europe dominated the Mobile Cardiac Telemetry devices market with a market share of 35%. The rising incidence of cardiovascular diseases and escalating geriatric population is responsible for influencing the healthcare service providers to implement advanced telehealth services in Europe. Hence, the surging the usage of telecardiology.
These players are adopting several growth strategies to expand the market reach. The competitive landscape has been provided pinpointing the position of the key market players in the market. The industry has also witnessed the emergence of several start-ups in the respective domain, majorly in the European region.