LONDON--(BUSINESS WIRE)--The global mobile cardiac telemetry systems market size is poised to reach USD 246 million by 2023, according to a new report by Technavio, progressing at a CAGR of close to 9% during the forecast period. The rising number of cardiac diseases is projected to augment the market during the forecast period.
Key suggestions from the report:
- Lead-based systems represented about 66% of the overall volume in 2018 owing to the presence of cardiac rehabilitation programs, and the increasing number of product launches.
- Patch-based systems are likely to register a CAGR of more than 8% in terms of revenue from 2019 to 2023 on account of the increasing number of arrhythmia cases, and the presence of reimbursement policies by governments.
- The North-American mobile cardiac telemetry systems market accounted for about 37% of the overall revenue in 2018, owing to the increasing number of chronic cardiac conditions, presence of awareness programs, and the growing number of new product launches.
- The mobile cardiac telemetry systems market is moderately fragmented with a large number of players occupying the market share. In addition, the development of advanced products by vendors to expand their product range will intensify the competition among vendors.
Read a 125-page research report with TOC on "Mobile cardiac telemetry systems Market Analysis Report by technology (lead-based systems and patch-based systems), and segment forecasts for 2019 to 2023" at
https://www.technavio.com/report/mobile-cardiac-telemetry-systems-market-industry-analysis
The number of cardiac cases has increased significantly across the world, which has pushed governments to increasingly focus on initiating new programs that can help the risks associated with cardiac diseases. Hence, the rising number of cardiac diseases and increasing number of awareness programs are expected to boost the demand for mobile cardiac telemetry systems, thereby, driving the growth of the market during the forecast period.
The demand for real-time patient health management that can enable early detection of cardiac diseases and aid in planning quick treatment is increasing. Thus, various research organizations and vendors have been developing wearable products for real-time ECG monitoring. Mobile cardiac systems provide real-time ECG monitoring of patients on an outpatient basis for 24 hours up to 30 days. Thus, the presence of advanced products and growing adoption of wearable devices will fuel the growth of the market during the forecast period.
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High costs associated with remote heartbeat monitoring can increase the cost burden on patients. While most of the developed countries provide reimbursement for heartbeat monitoring, governments in developing and underdeveloped countries do not provide reimbursement for it. Thus, patients have the burden to pay for monitoring, as well as for heartbeat monitoring devices, such as mobile cardiac telemetry systems. This will negatively impact the adoption of mobile cardiac telemetry systems during the forecast period.
Technavio has segmented the global mobile cardiac telemetry systems market based on the technology (lead-based systems, and patch-based systems), and region (North America, Europe, Asia, and ROW).
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