The global mobile cardiac telemetry systems market is expected to reach US$ 1,546.4 Mn in 2027 from US$ 564.8 Mn in 2018. The market is estimated to grow with a CAGR of 9.5% from 2019-2027.
The growth of the mobile cardiac telemetry systems market is primarily attributed to the rising prevalence of cardiovascular diseases, benefits of monitoring patients with mobile cardiac telemetry (MCT), and rising geriatric population. However, factors such as stringent regulations for approval, and technical problems associated with the mobile cardiac telemetry (MCT) are likely to pose a negative impact on the market growth. On the other hand, increasing medical tourism in emerging nations is likely to have a positive impact on the growth of the global mobile cardiac telemetry systems market in the coming years.
The rising population of the elderly people is the major cause of the heart diseases. The heart disease are mostly pone to the elderly people due to weak immunity and major other health problems. According to the United Nation's World Population Ageing 2017 report, in 2017, there are 962 million people across the globe aged 60 years or over and the number is expected to reach nearly 2.1 billion by 2050. Furthermore, US Census Bureau the number of Americans above the age of 65 and older is anticipated to grow more than double from 46 million in 2016 to above 98 million by 2060, and the 65-and-older age group's share in the world's population will grow around 24% from 15 percent. In 2017, Europe has the largest percentage of population aging more than 60 or above (25%). The fast and rapid ageing is occurring in other parts of the world as well, so that by 2050 all regions of the world except Africa will have nearly a quarter or more of their populations at ages 60 and above. The number of older persons in the world is anticipated to be US$ 1.4 billion in 2030 and US$ 2.1 billion in 2050, and will rise above US$ 3.1 billion in 2100. The elderly population are more prompt to have atypical presentations, comorbid conditions, and unfavorable outcomes. The major reason for the disease are related to the structural and functional changes in the cardiovascular system associated with the aging. The rising geriatric population in the world leads to rise in cardiovascular disease which is likely to grow mobile cardiac telemetry solutions market in the coming years.
In 2018, the mobile cardiac telemetry systems with lead based segment held a largest market share of 60.1% of the mobile cardiac telemetry systems market, by technology. This segment is also expected to dominate the market in 2027 owing to advancements in ambulatory cardiac monitoring, and increasing rate of heart rhythm disorders. Moreover, the patch-based segment is anticipated to witness the fastest growth rate of 12.7% during the forecast period, 2019 to 2027 owing to advances in the technology of wearable cardiac monitors.
Global mobile cardiac telemetry systems market, based on end user was segmented into hospital, cardiac Centres, and ambulatory surgical centres. The hospital segment is anticipated to grow at a CAGR of 12.7% during the forecast period. In hospitals, the electronic measurement of vital signs like ECG has been very common. ECG monitoring helps the medical team to analyze and investigate several heart problems and other metabolic abnormalities. For instance, hospitals utilize the ECG monitors for treatment of chest pain, heart attack, breathlessness and various cardiac surgeries. The need for the cardiovascular surgery treatments have become the major factor for the growth of the mobile cardiac telemetry systems market in the hospitals segment for the forecast period. Additionally, the similar segment is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.
Some of the major primary and secondary sources for mobile cardiac telemetry systems included in the report are, Dubai Health Authority (DHA), National Diagnosis-Related Group (DRG), European Heart Network (EHN), Fundación Española del Corazón (FEC), Oswaldo Cruz Foundation (FIOCRUZ), Group Purchasing Organizations (GPOs), Health Authority of Abu Dhabi (HAAD), National Institute of Astrophysics, Optics and Electronics (INAOE), South African Society for Cardiovascular Research (SASCR), and Saudi Heart Association (SHA) among others.