Mobile Cardiac Telemetry Systems Industry Overview
The global mobile cardiac telemetry systems market size is expected to reach USD 2.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 12.1% from 2022 to 2030. Increasing prevalence of the cardiovascular disorder, need for effective arrhythmia management, and technological advancement in telemetry devices are driving the market.
Increasing demand for real-time cardiac monitoring and self-care management is boosting the demand for mobile cardiac telemetry devices. In addition, the presence of advanced healthcare infrastructure, high disposable income in the developed countries is further propelling the revenue. Moreover, these devices were found to help monitor COVID-19 patients taking azithromycin and hydroxychloroquine medication which is expected to boost the market revenue. The market is technology-driven and the key industry players are continuously trying to develop user-friendly devices to sustain their market share.
The mobile cardiac telemetry devices read cardiac rhythm with the help of external devices consisting of metal sensors. In addition, some of the monitoring functions offered by smartphones use photo-plethysmography through phone cameras to detect atrial fibrillation. In a study published in December 2017, wireless ECG delivered a performance accuracy of 91.62% corresponding to hospital diagnostic standards while providing portable monitoring.
In April 2020, Medicomp, Inc. partnered with the Lenox Hill Hospital to monitor heart's electrical conduction of COVID-19 patients with certain medication by its TelePatch- Mobile Cardiac Telemetry (MCT), which is expected to increase the adoption of this device in the forthcoming years.
Mobile Cardiac Telemetry Systems Market Segmentation
Grand View Research has segmented the global mobile cardiac telemetry systems market on the basis of application, end use, and region:
Based on the Application, the market is segmented into Lead-based, and Patch-based.
- The lead-based segment dominated the market for mobile cardiac telemetry system and held a revenue share of over 65.0% in 2021 because lead-based MCTs are light weighted, user-friendly, and therefore preferred among several patients. There are a few disadvantages associated with lead-based MCTs such as lead failure and telemetry disruption which can limit the growth in the forthcoming years.
- The patch-based segment is expected to showcase lucrative growth in the market for mobile cardiac telemetry system over the forecast period. Patch-based Continuous Cardiac Rhythm Monitoring (CCRM) has emerged in the outpatient setting as a useful clinical tool for the quantification and surveillance of bradyarrhythmia and tachyarrhythmia.
Based on the End-use, the market is segmented into Hospitals, Cardiac Centers, and Others.
- The hospitals' segment dominated the market for mobile cardiac telemetry system and accounted for revenue share of more than 60.0% in 2021. The growth can be attributed to the increased number of minimally invasive surgeries under these facilities. Moreover, hospitals are omnipresent and easily accessible, thus more preferable over other facilities. Furthermore, favorable reimbursement policies are expected to fuel the demand in the forthcoming years.
- The market for mobile cardiac telemetry system is segmented into hospitals, cardiac centers, and others. The cardiac center segment is expected to witness the fastest growth over the forecast period. The growth can be attributed to an increased number of cardiac centers and the easy availability of surgeons under these facilities. The ambulatory surgical centers are also expected to gain popularity during the forecast period due to increased demand for outpatient services.
Key Companies Market Share Insights
The market for mobile cardiac telemetry system is competitive. Some of the major industry players are involved in strategic collaborations, regional expansions, and new product launch to increase their market penetration. For instance, in May 2021, VitalConnect launched the VitalPatch RTM mobile cardiac telemetry solution. The solution has a flexible and programmable platform, which covers various cardiac monitoring needs. In July 2019, Biotelemetry acquired ADEA Medical AB. This acquisition is aligned with BioTelemetry’s longer-term strategy to expand its international business in the Nordics and other European countries. Some of the prominent players in the mobile cardiac telemetry systems market include
- BioTelemetry, Inc.
- ScottCare
- Biotricity Inc.
- Welch Allyn
- Applied Cardiac Systems Inc.
- Medicomp Inc.
- Preventice Solutions
- Telerhythmics LLC
- Zoll Medical Corporation
- iRhythm Technologies, Inc.
Order a free sample PDF of the Mobile Cardiac Telemetry Systems Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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