Mobile Cardiac Telemetry Devices Market (By Technology - Lead Based & Patch Based; By End-User - Hospitals, Clinics & Ambulatory Surgical Centers) - Global Historical Growth & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation

Market Trends to Impact Global Mobile Cardiac Telemetry Devices

• Manufacturers are looking to expand their services to fortify their position in the market
• Increasing demand for high quality mobile telemetry products is pressurizing the manufacturers to launch smart cardiac telemetry device lines with unique designs and enhanced technologies
• Some companies are entering into partnerships with other companies to expand their product line of mobile cardiac telemetry devices. For instance, on May 9, 2018, ‘Preventice Solutions’ collaborated with ‘GE Healthcare’ to expand its services all over the market

Market Overview and Highlights

Mobile cardiac telemetry (MCT) is a technology that is utilized for remote monitoring and transmission of cardiac events to the physicians in real time. These are used for indications such as cardiac dysrhythmia, atrial fibrillation or flutter, etc. The global mobile cardiac telemetry devices market reached USD 459.1 Million in 2017. Moreover, the market is expected to garner USD 1,470.7 Million by the end of 2027, registering a CAGR of 12.4% during the forecast period owing to the massive growth of healthcare industry combined with increasing awareness and rising cases of cardiovascular diseases around the globe.

• Growth Highlights based upon Regional Platform during 2018-2027

The Asia Pacific mobile cardiac telemetry devices market is growing on the back of significant macro-economic indicators such as rise in GDP (Gross Domestic Product) in China and Japan and growing rate of population & hospitals in India and China. Further, Malaysia mobile cardiac telemetry devices market is anticipated to achieve absolute $ opportunity of USD 4.2 Million between 2018 and 2027.

The North America mobile cardiac telemetry devices market to expand with dominant market revenue of USD 597.8 Million by 2027

• The U.S. is predicted to capture market share of 85.0% by the end of 2027 owing to high government spending on healthcare resources along with improved insurance coverage such as Medicaid/CHIP and Medicare for patients to increase the accessibility to these resources and reduce the financial burden. Moreover, Canada mobile cardiac telemetry devices market is expected to achieve absolute $ opportunity of USD 56.9 Million between 2018 and 2027.

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Europe mobile cardiac telemetry devices market to expand with compound annual growth rate of 12.5% over the forecast period.

• The access to quality healthcare in Germany is higher than other countries as more than 99 percent of Germany’s 82 million residents are covered by health insurance. It is closely followed by France where with universal healthcare; there is access to preventative care for everyone, ensuring improved health in the long term. These factors are supplementing the overall growth of the Europe mobile cardiac telemetry devices market.

The Latin America mobile cardiac telemetry devices market is projected to expand with compound annual growth rate of 9.9% over the forecast period.

• The total number of hospitals in Brazil expanded from 6800 in 2015 to 6807 in 2017. Along with that, increasing cases of cardiovascular diseases are anticipated to positively impact the growth of Brazil mobile cardiac telemetry devices market and mark the valuation of around USD 25.3 Million by the end of 2027. Further, Mexico is expected to contribute towards a market share of 26.5% across the Latin-America region by the end of forecast period.

Middle East & Africa mobile cardiac telemetry devices market is estimated to reach market valuation of USD 105.2 Million by the end of 2027.

• South Africa is expected to contribute a market share of 31.8% by the end of 2027 and observe the growth rate of 2.8x during the forecast period.
• Rest of Middle East & Africa is anticipated to achieve absolute $ opportunity of USD 3.5 Million between 2018 and 2027.

Market Segmentation Synopsis

• By Technology

• The mobile cardiac telemetry devices are segmented into lead based and patch based.
• The  lead based segment is expected  to capture the market share of 59.8% by 2027.

• By End-User

• The mobile cardiac telemetry devices are segmented into Hospitals, Clinics and Ambulatory Surgical Centers.
• The clinics segment is expected to grow with a Y-O-Y growth rate of 13.0% in the year 2017 as compared to the previous year.

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The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Drivers & Challenges

• Gain Factors

The growing rate of cardiac diseases is the major cause of deaths around the globe. According to WHO (World Health Organization), 17.7 million people die every year due to cardiovascular diseases. Out of these deaths, 7.4 million deaths were expected due to coronary heart diseases while 6.5 million owing to strokes. Changing lifestyle & stress along with increased use of caffeine are causing increase in blood pressure, hence increasing the risks of getting cardiac disease.

Further, the global healthcare industry is escalating on the account of increasing awareness on cardiac diseases, rising disposable income, tobacco use, unhealthy diet and obesity, physical inactivity and harmful use of alcohol. This will increase the risks of cardiac diseases in the existing generation which is further going to positively affect the growth of the mobile cardiac telemetry devices market.

• Barriers

The primary reason for low adoption of these devices is because the technical component requires significantly greater costs including specialized education & training for staff, labor costs, equipment costs, maintenance costs, supply costs combined with the time required to generate the final results of the study. Further, the presence of more efficient and cheaper alternatives are expected to slow down the growth of mobile cardiac telemetry devices over the forecast period.

Top Featured Companies Dominating The Market

Some of the affluent global leaders in mobile cardiac telemetry device market are BioTelemetry Inc., Medicomp Inc., Welch Allyn, ZOLL Medical Corporation, ScottCare, National Cardiac Inc., Biotricity Inc., Applied Cardiac Systems Inc., Preventice Solutions and Telerhythmics LLC.

• BioTelemetry Inc., a mobile and wireless medical technology company witnessed a growth of 37.7% in total sales in FY2017 as compared to FY2016 owing to increase in sales from healthcare segment.
• Medicomp Inc., a global manufacturer of the most reliable and sophisticated heart-monitoring systems, announced the launch of newly improved holter monitoring system i.e. Telepatch 4-in-1 in January 2018.
• Biotricity Inc., a medical technology company, announced the launch of Bioflux, a real-time and high-precision mobile cardiac telemetry solution during March 2018.

As a whole, other key players are also focusing on the development of advanced mobile cardiac telemetry products to supplement the worldwide growth of the market.