Growing awareness of the benefits of Portable Cardiac Telemetry (MCT) devices is driving market expansion. As per the Centers for Disease Control and Prevention (CDC), heart problems caused 800,000 deaths in the United States in 2017, making them the country's biggest cause of death. In addition, physical inactivity as a result of a sedentary lifestyle, along with cigarette smoking and obesity, has raised the morbidity of heart disorders.
As of June 2020, millions of individuals had been impacted by the COVID-19 outbreak caused by SARS-CoV-2. The highly infectious coronavirus is having an economic impact on a variety of industries, including the medical device business. Patients initially improved with a combination of hydroxychloroquine and azithromycin, however there is a risk of lengthening the QT interval. In such patients, mobile cardiac telemetry is commonly utilised to remotely monitor them and decrease hospitalisation.
Furthermore, the gadget is useful in the outpatient context for the quick diagnosis of arrhythmogenic concerns in COVID-19 patients. Due to the pandemic, hospitals are now overcrowded with patients, and in such instances, these devices are particularly useful for remote monitoring, which is fueling market development. Biotelemetry, Inc., for example, expanded its mobile cardiac outpatient telemetry monitoring service to COVID-19 patients at multiple hospitals around the United States in March 2020 to track QT prolongation caused by hydroxychloroquine and azithromycin treatment.
The major players operating in the global 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., and many more.
Cardiac Telemetry Systems Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.70 Billion|
|Growth Rate||CAGR of 11.3% during 2021-2028|
|Segment Covered||Type, End-use, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||BioTelemetry, Inc., ScottCare, Biotricity Inc., Welch Allyn, Applied Cardiac Systems Inc., Medicomp Inc., Preventice Solutions, Telerhythmics LLC, Zoll Medical Corporation, iRhythm Technologies, Inc., and many more|
Key Segments of the Global Cardiac Telemetry Systems Market
Type Overview, 2018-2028 (USD Million)
- Lead based
- Patch Based
End use Overview, 2018-2028 (USD Million)
- Cardiac centers
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- Growing geriatric population, and their vulnerability to incontinence and chronic diseases, demanding continues use of incontinence products
- Proliferation of online sales channel, cannibalizing the position of hospital and retail pharmacies
- Consistent threat of deadly infections in hospital and healthcare settings urging the use of disposable medical supplies especially in emerging countries and remote locations
What does the report include?
- The study on the global Cardiac Telemetry Systems market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type, and end user. Moreover, the study on Cardiac Telemetry Systems market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global Cardiac Telemetry Systems market is suitable for all the players across the value chain including component and raw material providers, disinfectant manufacturers, distributors, and other intermediaries
- Venture capitalists and investors looking for more information on the future outlook of the global Cardiac Telemetry Systems market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global Cardiac Telemetry Systems market
Cardiac telemetry is a method of remotely monitoring a person's vital signs. A cardiac telemetry unit often consists of many patient rooms with vital sign monitors that send data such as your heart rate, respiration, and blood pressure to a nearby site on a regular basis. A professionally trained nurse keeps track of your vital signs and can react to any changes that might indicate a concern with your health. A physician places an order for an MCT device for a patient and registers them with their cardiac monitoring company. The mobile cardiac telemetry device may also record patient-activated or symptomatic testing, in which the patient can press a button and manually enter symptoms as they occur. Bradycardia, tachycardia, pauses, and atrial fibrillation are all auto-triggers on the device (AFib).
Data from the continuous ECG is sent to a monitoring centre, where it is evaluated by properly trained personnel who search for any anomalies as they occur. As soon as the monitoring centre receives any symptomatic or auto-triggered events, they are examined. They also calculate the percentages of tachycardia and bradycardia and compile a thorough list of formulas to measure AFibs and pauses.
In 2019, Lead based segment dominated the market. Because lead-based components are light weighted, user-friendly, and therefore chosen by various patients, the lead-based segment maintained a leading revenue share of over 65 percent in the cardiac telemetry systems market in 2019. Lead-based MCTs have a few drawbacks, such as lead failure and telemetry disturbance, which might restrict their proliferation in the next years.
Over the projected period, the patch-based sector is predicted to develop at a healthy rate. Patch-based Continuous Cardiac Rhythm Monitoring (CCRM) has developed as a helpful clinical technique for quantifying and monitoring bradyarrhythmia and tachyarrhythmia in the outpatient environment. These patch-based CRM devices have been explored in the outpatient sector as an alternative to conventional Holter monitoring and have emerged as viable and patient-friendly solutions for detecting clinically relevant arrhythmia, which is driving demand.
With a revenue share of roughly 35%in 2019, North America controlled the market for cardiac telemetry. This increase can be ascribed to a variety of variables, including an ageing population, the incidence of heart illnesses, and growing healthcare costs. Furthermore, the presence of key service providers offering enhanced healthcare solutions is projected to drive market growth throughout the projection period.
Over the projection period, Asia Pacific is predicted to develop at a rapid pace. Factors like as eating choices and the increasing adoption of a sedentary lifestyle, which leads to physical inactivity, are contributing to the region's increased cardiovascular morbidity. Furthermore, due to low manufacturing prices and trained personnel, major international corporations are establishing manufacturing operations in the region