Mobile Cardiac Telemetry Devices Market Size will Escalate Rapidly in the Near Future
Posted: Apr 08, 2021
Mobile cardiac telemetry is a cardiac monitoring method that involves employing a small portable device to monitor a patient’s cardiac activity. Cardiac monitoring is the constant monitoring of heart activity using electrocardiography (ECG) to understand the pulse or rhythm of the heart and find abnormalities in its functioning. Cardiac monitoring is a significant part of health care diagnostics as some functions of the body can be understood by carefully analyzing the heart pulse or rhythm. It is a relatively new technology and was first approved in 2002 by the U.S. Food and Drug Administration (FDA). It provides continuous real-time out-patient electrocardiographic (ECG) monitoring for long periods of time. Mobile cardiac telemetry allows detection of both asymptomatic and symptomatic arrhythmias. It has been proven to deliver superior diagnostic capabilities for patients with syncope, palpitations, and pre-syncope.
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Global Mobile Cardiac Telemetry Devices Market: Key Trends
The demand for mobile cardiac telemetry devices is expected to increase rapidly over the forecast period, as the devices offer a technological edge. Additionally, increase in the prevalence of cardiovascular diseases, increase in awareness about the devices, high adoption rate of the devices, and an aging population are expected to boost the market in near future. Cardiovascular disease is a leading cause of death across the world. Cardiovascular diseases is a group of disorders of the blood vessels and the heart. They include congenital heart disease, rheumatic heart disease, coronary heart disease, and cerebrovascular disease. According to the World Health Organization (WHO), about 17.9 million people died of cardiovascular diseases in 2016, which represents 31% of all deaths worldwide. Of these, 85% deaths were caused by stroke and heart attacks. In South Asia, India and China are particularly experiencing an increased burden of cardiovascular diseases. For example, in China, the prevalence of stroke is much higher, and the prevalence of coronary disease caused by plaque buildup is lower compared to that in a majority of developed countries in the Western world. On the other hand, in India, death rate related to cardiovascular diseases is higher than that in China. These factors are anticipated to drive the mobile cardiac telemetry devices market. However, a shortage of skilled professionals with expertise in advanced cardiovascular monitoring devices is expected to restrain the market during forecast period.
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Global Mobile Cardiac Telemetry Devices Market: Segmentation
The global mobile cardiac telemetry devices market can be segmented based on technology, end-user, and region. In terms of technology, the market can be categorized into lead-based devices and patch-based devices. The lead based devices segment is expected to account for a prominent market share during the forecast period as lead based devices are easy to use, lightweight, and provide a discrete alternative to traditional cardiac recording and transmitting devices. Based on end-user, the global mobile cardiac telemetry devices market can be classified into hospitals, specialized clinics, ambulatory surgical centers, and others (including academic and research institutes and home settings).
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Global Mobile Cardiac Telemetry Devices Market: Regional Analysis
Based on region, the global mobile cardiac telemetry devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period. This is attributed to high government spending on the health care sector and improved insurance coverage through Medicare and Medicaid, which increases accessibility to health care resources for patients and reduces their financial burden. Europe is estimated to be a prominent region of the mobile cardiac telemetry devices market, owing to better access to quality health care, preventative care for everyone, and improved health of the population in the long term. Asia Pacific is expected to be a rapidly expanding region of the market, due to an increase in the rate of cardiovascular diseases.
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Global Mobile Cardiac Telemetry Devices Market: Competitive Landscape
Key players operating in the global mobile cardiac telemetry devices market include BioTelemetry Inc., Medicomp Inc., Biotricity Inc., Medtronic, Kyma, Digirad Corporation, Boston Scientific Corporation, Spectocor LLC, and The ScottCare Corporation.
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