Mobile Cardiac Telemetry Systems Market Report 2024

This Mobile Cardiac Telemetry Systems market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The mobile cardiac telemetry systems market size has grown rapidly in recent years. It will grow from $0.88 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth during the historic period can be attributed to increasing healthcare costs, regulatory approvals, patient demand for convenience, and advancements in wireless technologies.

The mobile cardiac telemetry systems market size is expected to see rapid growth in the next few years. It will grow to $1.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth during the forecast period can be attributed to the expanding elderly population, support from healthcare policies, rising incidence of cardiovascular diseases, and increased awareness and early diagnosis. Key trends during this period include integration with AI and machine learning, improved data security, synergy with telemedicine, advancements in personalized medicine, and innovations in wearable devices.

The increasing incidence of cardiovascular disease is anticipated to drive the growth of the mobile cardiac telemetry systems market in the future. Cardiovascular diseases encompass a range of conditions affecting the heart and blood vessels, including coronary artery disease, heart failure, arrhythmias, and hypertension, which can result in severe health complications such as heart attacks, strokes, and other cardiovascular events. The prevalence of cardiovascular disease is rising due to growing risk factors such as sedentary lifestyles, poor diets, obesity, and aging populations. Mobile cardiac telemetry systems provide continuous, real-time monitoring and early detection of cardiac arrhythmias in patients with cardiovascular conditions. For example, in January 2024, the American Heart Association, a US-based nonprofit organization, reported a slight increase in cardiovascular-related deaths this year, reaching 931,578, a marginal rise of 3,000 compared to the previous year's total of 928,741. Consequently, the rising incidence of cardiovascular disease is fueling the growth of the mobile cardiac telemetry systems market.

Key companies in the mobile cardiac telemetry systems market are increasingly focusing on developing innovative solutions, such as real-time monitoring telemetry devices, to gain a competitive advantage. These devices are designed to continuously and immediately collect, transmit, and analyze data from a remote source. For example, in May 2021, VitalConnect Inc., a US-based provider of wearable biosensor technology, introduced its VitalPatch RTM mobile cardiac telemetry (MCT) solution, setting itself apart in the cardiac monitoring market. This advanced platform offers comprehensive cardiac monitoring, enabling continuous, real-time detection of cardiac arrhythmias while also measuring essential physiological parameters such as heart rate, respiratory rate, and activity levels. The VitalPatch RTM uses a wireless Bluetooth connection to transmit high-fidelity ECG signals to the secure VitalCloud, allowing healthcare professionals to access real-time patient information analyzed by certified cardiac monitoring technicians.

In February 2021, Koninklijke Philips N.V., a health informatics and healthcare IT company based in the Netherlands, acquired BioTelemetry Inc. for an undisclosed amount. This acquisition enhances Philips' market position and boosts its ability to provide integrated healthcare solutions, thereby improving patient outcomes for a range of medical conditions. BioTelemetry Inc., based in the US, specializes in remote cardiac diagnostics and monitoring.

Major companies operating in the mobile cardiac telemetry systems market are Medtronic PLC, Philips Healthcare, Boston Scientific Corporation, Biotricity Inc., Zoll Medical Corporation, Spacelabs Healthcare, iRhythm Technologies Inc., Infobionic Inc., Reactdx, Medicomp Inc., Applied Cardiac Systems Inc., Bardy Diagnostics Inc. (a Hillrom company), Medicalgorithmics S.A., ScottCare Corporation, Ambucor Health Solutions Inc., Biotricity Inc., Vitaphone GmbH, Telerhythmics LLC, Card Guard, Heart Test Laboratories Inc.

North America was the largest region in the mobile cardiac telemetry systems market in 2023. The regions covered in the mobile cardiac telemetry systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the mobile cardiac telemetry systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mobile cardiac telemetry systems are sophisticated devices used for real-time detection and recording of abnormal heart rhythms. They continuously monitor a patient’s heart activity and automatically send data to a central monitoring center. This enables prompt analysis and timely intervention by healthcare professionals. MCT systems are commonly employed for diagnosing and managing arrhythmias and other cardiac conditions.

The primary types of mobile cardiac telemetry systems are multiple lead mobile cardiac telemetry systems and mobile cardiac telemetry patches. Multiple lead mobile cardiac telemetry systems utilize several electrodes attached to a patient's body to continuously monitor heart activity. These systems are used for detecting cardiovascular diseases, angina pectoris, atherosclerosis, heart failure, and other conditions. They are employed by a range of end-users, including hospitals, cardiac centers, home care settings, and more.

The mobile cardiac telemetry systems market research report is one of a series of new reports that provides mobile cardiac telemetry systems market statistics, including mobile cardiac telemetry systems industry global market size, regional shares, competitors with a mobile cardiac telemetry systems market share, detailed mobile cardiac telemetry systems market segments, market trends and opportunities, and any further data you may need to thrive in the mobile cardiac telemetry systems industry. This mobile cardiac telemetry systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mobile cardiac telemetry systems market consists of sales of wearable sensors, transmitter devices, and data transmission units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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