USD 833.8 million
Mobile Cardiac Telemetry Market Size, Share, Growth Analysis, By Application(lead based and patch based), By Type(hospitals, cardiac centres and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2202 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
60
|Figures:
75
Mobile Cardiac Telemetry Market Insights
Mobile Cardiac Telemetry Market size was valued at USD 833.8 million in 2019 and is poised to grow from USD 900 million in 2023 to USD 2300 million by 2031, growing at a CAGR of 12.1% in the forecast period (2024-2031).
MCT or MCOT stands for mobile cardiac telemetry systems, and it is the most popular technology in the ambulatory cardiac monitoring sector. The device provides advanced real-time analysis technology and reduces the cost of electrocardiographic diagnosis for outpatients. This is a small portable device that can be taken anywhere. It provides benefits to both the patient and the physician, potentially leading to more efficient care. The rising prevalence of cardiovascular diseases, the benefits of monitoring patients with mobile cardiac telemetry (MCT), and the growing geriatric population are driving the growth of the Mobile Cardiac Telemetry Systems in the healthcare market. Cardiovascular diseases (CVDs) are heart and blood vessel disorders that include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and others. Tobacco use, an unhealthy diet, and physical inactivity, which increases the risk of heart attacks and strokes, are some of the major factors that contribute to death and difficulties. CVDs are the leading cause of death worldwide, affecting more people than any other disease. The mobile cardiac telemetry (MCT) system consists of a small sensor and monitor that patients wear on a daily basis. Whenever a cardiac event occurs, MCT instantly transmits the data to a centre for analysis and response, which then sends a report to the patient's physician along with graphs and trends for diagnosis and therapy management.
US Mobile Cardiac Telemetry Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lead based
Fastest Growth
Lead based
Growth Rate
12.1% CAGR
Global mobile cardiac telemetry market, 2021-2028(Bn)
Country Share for North America Region- 2021 (%)
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Mobile Cardiac Telemetry Market Segmental Analysis
The global mobile cardiac telemetry market is segmented into application, end use, and region. By application it is segmented into lead based and patch based. On the basis of end use it is segmented into hospitals, cardiac centres and others. By region, the market is segmented into North America, Latin America, Asia Pacific, and MEA.
Mobile Cardiac Telemetry Market Analysis by Application
The lead-based segment led the market for mobile cardiac telemetry systems and held a revenue share of more than 65.0% due to the light weight and user-friendliness of lead-based MCTs, which are preferred by many patients.
The patch-based segment is expected to grow profitably in the mobile cardiac telemetry systems market over the forecast period. Patch-based Continuous Cardiac Rhythm Monitoring (CCRM) has become a useful clinical tool in the outpatient setting for the measurement and monitoring of bradyarrhythmia and tachyarrhythmia. These patch-based CRM devices have been studied in the outpatient setting as an alternative to conventional Holter monitoring and have proven to be workable and patient-friendly solutions for detecting clinically significant arrhythmia, which is driving demand.
Mobile Cardiac Telemetry Market Analysis by End Use
The hospital sector dominated the market for mobile cardiac telemetry systems, accounting for more than 60.0% of total revenue. The increase in minimally invasive procedures performed in these facilities can be attributed to the growth. The cardiac centre category is expected to grow the fastest over the forecast period. The rise in cardiac centres, as well as easy access to surgeons working for these hospitals, is to blame for the growth. Ambulatory surgery facilities are expected to grow in popularity during the projection period due to an increase in demand for outpatient services. The category is expanding due to a variety of factors, including lower-cost treatment and shorter stays.
Global mobile cardiac telemetry market size by application, 2021(%)
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Mobile Cardiac Telemetry Market Regional Insights
During the forecast period, North America is expected to dominate the global mobile cardiac telemetry systems market. In the United States, one person dies from cardiovascular disease every 36 seconds. Every year, approximately 659,000 people die from heart disease, accounting for one in every four deaths in the United States. Because of the increasing geriatric population, rising healthcare expenditure, the presence of major service providers with improved healthcare solutions, and the prevalence of cardiac disorders, North America dominates the mobile cardiac telemetry (MCAT) market.
During the forecast period, the Asia Pacific market for mobile cardiac telemetry systems is expected to expand rapidly. Growing obesity is expected to drive the Asia Pacific market. According to the Statista Research Department, Asia Pacific has the world's highest proportion of overweight and obese people. Asia-Pacific is expected to grow rapidly during the forecast period of 2022-2028, owing to rising sedentary lifestyle adoption, which leads to physical inactivity, a high death rate due to cardiovascular diseases, and dietary habits in the region.
Global mobile cardiac telemetry market size by gepgraphy, 2021-2028(Bn)
- Largest
- Fastest
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Mobile Cardiac Telemetry Market Dynamics
Mobile Cardiac Telemetry Market Drivers
Evolution of Technology in Healthcare to Bolster Market Growth
- The increased awareness of emerging patch technology, as well as the introduction of new devices with optimised applications, are driving the growth of the global mobile cardiac telemetry systems market.
- One of the major factors driving the mobile cardiac telemetry (MCAT) market is the increase in mortality due to high incidences of cardiovascular disorders among the population. People's unhealthy lifestyle choices, such as physical inactivity due to sedentary lifestyle, obesity, and tobacco smoking, are increasing the morbidity of cardiac disorders, and the increased use of the device for rapid detection of arrhythmogenic risks for COVID-19 patients in the outpatient setting, are driving the growth of the mobile cardiac telemetry (MCAT) market.
Mobile Cardiac Telemetry Market Restraints
High Cost to Hinder Market Growth in Coming Years
- The high cost of advanced devices may prevent mobile cardiovascular telemetry systems from being widely adopted. During the forecast period, this is expected to impede the growth of the global mobile cardiovascular telemetry systems market.
- The mobile cardiac telemetry systems market's revenue growth is predicted to be constrained by strict regulations and product recalls as a result of product failure.
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Mobile Cardiac Telemetry Market Competitive Landscape
The mobile cardiac telemetry system market is highly competitive. To increase market penetration, some of the major industry players are engaging in strategic collaborations, regional expansions, and new product launches. VitalConnect, for example, will launch the VitalPatch RTM mobile cardiac telemetry solution in May 2021. The solution has a versatile and programmable platform that can meet a variety of cardiac monitoring requirements.
Mobile Cardiac Telemetry Market Top Player's Company Profiles
- BioTelemetry, Inc.
- Preventice Solutions
- iRhythm Technologies Inc.
- Medicomp Inc.
- Biotricity Inc.
- Applied Cardiac Systems Inc.
- Hill-Rom Holdings Inc.
- Philips Healthcare
- Medtronic PLC
- Zoll Medical Corporation
- Cardionet Inc.
- GE Healthcare
- Welch Allyn Inc.
- BioTel Heart
- Infosys Limited
- Comarch SA
- Infinium Medical
- Digi International Inc.
- Telerhythmics LLC
- Medic4all Group.
Mobile Cardiac Telemetry Market Recent Developments
- In May 2022, The mobile cardiac telemetry solution VitalPatch RTM was introduced by VitalConnect. The programmable and adaptable platform of the solution meets a range of requirements for cardiac monitoring.
Mobile Cardiac Telemetry Key Market Trends
- Because of the technological advantage, demand for mobile cardiac telemetry systems is expected to grow significantly over the forecast period. Mobile cardiac telemetry systems allow patients to move around and provide physicians with real-time data on their patients.
- The increased diagnostic yield of MCT devices over standard cardiac monitoring devices is expected to generate high patient demand. Furthermore, due to the rapid expansion of the geriatric population, there is an increasing demand for cardiac monitoring in home care settings. Over the forecast period, the rising prevalence of cardiovascular diseases is expected to create significant growth opportunities for MCT system manufacturers.
Mobile Cardiac Telemetry Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global mobile cardiac telemetry market analysis, The rising prevalence of cardiac diseases is propelling the market forward. The rising number of cardiac cases caused by structural heart diseases, as well as the complications that come with them, is driving up demand for mobile cardiac telemetry systems. Due to the increasing number of cardiac cases and related hospitalizations, governments in some countries are focusing on launching programmes that will assist them in identifying the risks associated with cardiac diseases and developing strategies to monitor them. As a result, the rising prevalence of cardiac diseases and the growing number of awareness programmes can help drive demand for mobile cardiac telemetry systems, fueling market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 833.8 million |
| Market size value in 2031 | USD 2300 million |
| Growth Rate | 12.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mobile Cardiac Telemetry Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mobile Cardiac Telemetry Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mobile Cardiac Telemetry Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Cardiac Telemetry Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Cardiac Telemetry Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile Cardiac Telemetry Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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