Rising prevalence of cardiovascular diseases is driving the market for mobile cardiac telemetry systems over the forecast period.
According to a new market research study titled ‘Mobile Cardiac Telemetry Systems Market - Global Analysis and Forecasts by Technology and End User, the global Mobile cardiac telemetry systems market is expected to reach US$ 1,546.4 Mn in 2027 from US$ 564.8 Mn in 2018. The market is estimated to grow with a CAGR of 12.4% from 2019-2027. The report highlights the trends prevalent in the global mobile cardiac telemetry systems market and the factors driving the market along with those that act as deterrents to its growth.
The mobile cardiac telemetry systems market by technology is segmented into lead based and patch based systems. In 2018, the mobile cardiac telemetry systems with lead based segment held a largest market share of 60.1% of the mobile cardiac telemetry systems market, by technology. This segment is also expected to dominate the market in 2027 owing to advancements in ambulatory cardiac monitoring, and increasing rate of heart rhythm disorders. Moreover, the patch-based segment is anticipated to witness the fastest growth rate of 12.7% during the forecast period, 2019 to 2027 owing to advances in the technology of wearable cardiac monitors.
Key factors driving the market are, rising prevalence of cardiovascular diseases, benefits of monitoring patients with mobile cardiac telemetry (MCT), and rising geriatric population. However, factors such as stringent regulations for approval, and technical problems associated with the mobile cardiac telemetry (MCT) are likely to restrain the market growth to a certain extent.
Some of the prominent players operating in mobile cardiac telemetry systems market are, Medtronic, BioTelemetry Inc., Applied Cardiac Systems, Inc, Medicomp Inc, Preventice Services, LLC, The Scottcare Corporation, Medi-Lynx (Subisidiary Of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in May 2018, Medtronic discontinued marketing for its SEEQ Mobile Cardiac Telemetry (MCT) System to concentrate support on its Reveal LINQ Insertable Cardiac Monitor (ICM) System.
The report segments the global Mobile Cardiac Telemetry Systems Market as follows:
Global Mobile Cardiac Telemetry Systems Market – By Technology
Global Mobile Cardiac Telemetry Systems Market – By End User
Global Mobile Cardiac Telemetry Systems Market – By Geography
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