USD 833.8 million
Report ID:
SQMIG35A2202 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
60
|Figures:
75
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.
Global Market Size
USD 833.8 million
Largest Segment
Lead based
Fastest Growth
Lead based
Growth Rate
12.1% CAGR
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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.
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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.
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Mobile Cardiac Telemetry Market Drivers
Evolution of Technology in Healthcare to Bolster Market Growth
Mobile Cardiac Telemetry Market Restraints
High Cost to Hinder Market Growth in Coming Years
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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
Mobile Cardiac Telemetry Market Recent Developments
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 |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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REQUEST FREE CUSTOMIZATIONMobile 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).
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Report ID: SQMIG35A2202