Holter ECG Market Research Report and Outlook by 2028

The global market for Holter ECG devices is projected to expand from US$ 757.26 million in 2022 to US$ 1,215.76 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.2% during this period.

This market growth is primarily driven by the increasing prevalence of cardiovascular diseases (CVDs). However, the shortage of qualified professionals capable of accurately interpreting Holter ECG results poses a significant challenge to market expansion.

As reported by the World Economic Forum, the demographic of individuals aged 65 and older has seen a substantial rise over the last twenty years. The Physical Review (PR) 2023 indicates that Southern Europe, which encompasses nations like Greece, Italy, Malta, Portugal, Croatia, Serbia, Slovenia, and Spain, is the oldest region globally, with 21% of its population being over 65 years old. Furthermore, the Organization for Economic Cooperation and Development (OECD) forecasts that the percentage of individuals over 80 years in developed EU countries will double by 2050. The natural aging process of the heart significantly contributes to the onset of CVD in older adults, primarily due to heightened oxidative stress and inflammation.

Additionally, the American Heart Association, Inc. (AHA) 2019 report on Heart Disease and Stroke Statistics reveals that the incidence of CVD is 77.2% among males and 78.2% among females aged 60-79 years. For those over 80, the figures rise to 89.3% for males and 91.8% for females.

Age is a critical risk factor for developing CVDs, with the physiological aging of the heart being a significant contributor to the emergence and progression of these diseases in older adults. Consequently, the growing elderly population is driving the demand for Holter ECG monitors, thereby propelling market growth on a global scale.

Market Opportunities

Innovation in Products through Technological Advancements

CVDs rank among the leading causes of mortality, accounting for approximately 17.5 million deaths annually, which represents around 31% of total deaths each year, according to the Impacting Research Innovation and Technology report. To mitigate these mortality rates, regular monitoring of heart health is essential, necessitating the tracking of cardiac electrical activity over extended periods. Portable Holter ECG devices can address mortality-related issues, whether through implantable or external monitoring solutions under specialized care. Manufacturers are also innovating Holter ECG products, such as remote cardiac monitors that wirelessly transmit data for telemetry purposes. Moreover, there is a growing trend towards developing wearable Holter ECG devices that function as both computing and display units for recording cardiac rhythm episodes. With the increasing incidence of strokes, hypertension remains a prevalent issue, leading to chronic heart conditions. Consequently, home-based wireless Holter ECG monitors are becoming increasingly popular for regular heart rate monitoring. These technological advancements and product innovations are expected to significantly contribute to the growth of the Holter ECG market in Europe in the upcoming years.

The Asia Pacific region has emerged as a favorable and adaptable business environment due to its relatively lenient regulations and data requirements. As the markets in the US and Europe reach maturity, many companies are redirecting their focus towards emerging markets. Significant investments in life sciences and health research in these developing nations are crucial for advancing the latest technologies, which in turn supports the diagnosis of CVDs.

The global Holter ECG market is categorized based on components, applications, end users, indications, and distribution channels. In terms of components, the market is divided into products, software & solutions, services, and accessories. The application segment is further divided into diagnostics and monitoring. The end-user segment includes hospitals & clinics, ambulatory surgical centers, home settings, and others. Regarding indications, the market is classified into atrial fibrillation (AF), cardiac arrest, patients with pacemakers, and others. The distribution channels include 3 Channel ECG Systems, 5, 6 & 7 Channel ECG Systems, 12 Channel ECG Systems, and others.

In 2021, the atrial fibrillation (AF) segment held a significant market share. However, the segment concerning patients with pacemakers is anticipated to exhibit a higher CAGR during the forecast period. The electrocardiogram (ECG) is a vital tool in clinical practice, especially for patients with pacemakers. The use of pacemakers effectively improves the condition of heart disease patients and prolongs their survival. However, these patients require regular in-hospital evaluations of their pacemakers and cardiac health. Therefore, remote monitoring for pacemaker patients is becoming increasingly essential. A paced rhythm is easily identifiable on an ECG, with a small spike appearing when the pacemaker activates. An atrial pacemaker generates a spike followed by a P wave and a normal QRS complex. For patients with permanent pacemakers, Holter ECG is utilized to verify the functionality of their devices. The combination of Holter ECG analysis and the Pace Setting Analyzing Mode is commonly employed to assess the operational status of pacemakers.

Key sources referenced in the preparation of this report on the global Holter ECG market include the National Institute of Health (NIH), the Centers for Disease Control and Prevention (CDC), and the Food and Drug Administration (FDA).