The global Holter ECG market is projected to reach USD 558 million by 2027 from USD 416 million in 2022, at a CAGR of 6.1% during the forecast period. Factors such as the increasing number of patients suffering from cardiovascular disease (CVD) and the need for early diagnosis are driving the growth of this market.
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Key Market Players
The Holter ECG market is highly consolidated and is dominated by various players. The major players operating in this market are GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), and Hill-Rom Holdings, Inc. (Baxter International Inc.) (US). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the Holter ECG market.
GE HEALTHCARE (US)
GE HealthCare accounted for a major share of the Holter ECG market in 2021. GE is a major player in this market due to its vast product portfolio. GE has a global distribution partner network in more than 140 countries and provides expertise and services to customers in nearly every corner of the globe. The company adopts inorganic growth strategies to increase its market share. For instance, in 2021, GE HealthCare and the American College of Cardiology (ACC) partnered to build a roadmap for AI in cardiac care and develop new strategies for improved health outcomes.
KONINKLIJKE PHILIPS N.V. (NETHERLANDS)
Koninklijke Philips N.V. focuses on innovation to maintain its market share and significantly invests in R&D activities for this purpose. This investment is used to develop new and innovative products. The company’s position in this market can also be attributed to its strong sales and distribution network across the globe, enabling it to market its products in various countries effectively. The company works in partnership with third parties to offer integrated solutions.
NIHON KOHDEN CORPORATION (JAPAN)
Nihon Kohden focuses on expanding its geographic presence by acquiring major companies. The company adopts expansions and product launches as a dominant strategy to increase its growth in Japan as well as international markets. Nihon Kohden has a wide presence across many countries, including the US, Canada, Mexico, Brazil, Colombia, Japan, France, Germany, and Italy.
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North America dominates the global Holter ECG market
Based on the region segmentation, the Holter ECG market is divided into North America, Europe, Asia Pacific, Latin America, and Middle-East Africa. North America holds the largest share and expects to dominate the Holter ECG market. The large share of the North American market can be attributed to the rising incidence of CVD, increasing healthcare spending, and the increasing presence of technologically advanced devices in the region. The Asia Pacific is estimated to be the fastest-growing regional market for Holter ECG products during the forecast period.
Recent Developments:
- Royal Philips (Netherlands) partnered with Prisma Health (US) to help the health system achieve enterprise interoperability, standardize patient monitoring, and drive innovation in enterprise imaging solutions to enhance patient care and improve clinical performance.
- Royal Philips (Netherlands) acquired BioTelemetry, Inc. & Capsule Technologie (US) to strengthen Philips' cardiac care portfolio, cardiac diagnostics, and monitoring services, which are included in the Connected Care segment.
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