North America ECG Patch and Holter Monitoring Market to Hit Valuation of USD 5,033.5 Million By 2032, at 15.99% CAGR: Astute Analytica

The North American ECG patch and Holter monitor market is fueled by rising heart disease prevalence and technological advancements in diagnostics. Growth is significant, with dominance in healthcare applications and a focus on extended monitoring, AI integration, and patient comfort.

New Delhi, April 08, 2024 (GLOBE NEWSWIRE) — According to the latest research by Astute Analytica, the North America ECG patch and Holter monitoring market is projected to surpass a valuation of US$ 5,033.5 million by 2032, up from US$ 1,324.6 million in 2023, growing at a CAGR of 15.99% during the forecast period from 2024 to 2032.

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Heart disease remains a devastating health crisis in the United States. In 2021, a staggering 695,000 Americans succumbed to heart disease, accounting for a shocking one in every five deaths. This trend tragically continued into 2022, where cardiovascular disease is estimated to have claimed the lives of over 650,000 Americans, once again representing roughly one in five deaths. The burden of cardiovascular disease weighs heavily on older adults. An overwhelming majority of individuals aged 60 to 79 (77.5% of men and 75.4% of women) have some form of cardiovascular disease. This prevalence increases dramatically among those 80 and older, affecting a staggering 90% of the population in this age group. Additionally, in 2022, nearly 5% of all adults had been diagnosed with coronary heart disease, a particularly serious type of heart disease.

To address the widespread need for advanced heart care, the U.S. ECG patch and Holter monitoring market has a network of specialized heart hospitals. U.S. News has ranked the top 50 of nearly 800 evaluated heart hospitals, highlighting those that excel in providing complex care for conditions such as heart attack, congestive heart failure, heart bypass, aortic valve replacement, and transcatheter aortic valve replacement (TAVR). These rankings aid patients in identifying the best cardiology hospitals in their area, ensuring they receive the highest quality care available for critical heart conditions.

The United States plays a dominant role in the North American ECG patch and Holter monitoring market, commanding a substantial 85% share. While Holter monitors currently hold a larger market share (42%), ECG patches are projected to experience significant growth with a CAGR of 16.25% through 2027. Overall, North America is the largest ECG patch and Holter monitor market globally, holding 64.95% of the share in 2022 and anticipated to have the highest CAGR of 20.67% during the forecast period. Within this market, healthcare ECG patches represent the leading product segment, accounting for 57.60% of revenue in 2022.

Patient Demographics and Usage

The widespread adoption of ECG patch for heart monitoring is evident, with nearly 30 million Americans utilizing them by 2022. Seniors aged 65 and above make up the majority of users (approximately 60% in 2022), and this age segment is predicted to grow steadily at a CAGR of 7.2% through 2027.

Technological Advancements and Investments

The sector is experiencing rapid technological advancements and substantial investments. In 2022, wireless ECG patches saw a 10% growth compared to the previous year. Importantly, investments in the ECG patch and Holter monitoring market exceeded $150 million in 2022. Key developments include the launch of the BodyGuardian Mini by Preventice Solutions in 2018 (the smallest reusable, long-term Holter technology) and Biotricity Inc. raising $6 million in 2020 for FDA filing of its innovative Holter monitoring patch solution. Another notable innovation is the AI-based diagnostic tool, ECG-BiCoNet, demonstrating high accuracy in detecting COVID-19. Furthermore, in 2021, Astellas Pharma, Nitto Denko Corporation, and M. Heart Co., Ltd collaborated to develop a novel disposable Holter ECG device.

Promising Outlook

The North American ECG patch and Holter monitoring market presents an exceptionally promising outlook. Driving factors include an aging population, increasing cardiovascular disease prevalence, rapid technological innovation, and significant investments fueling continuous advancements in the field. The expanding patient base, particularly among the senior population, further contributes to the market’s robust growth potential.

Key Findings in North America ECG Patch and Holter Monitoring Market

Market Forecast (2032) US$ 5,033.5 Million
CAGR 15.99%
By Product ECG Patch (57.3%)
By End Users Hospitals (71.8%)
By Application  Diagnostics (68.6%)
By Active Ingredients  (56.3%)
Top Trends
  • Increasing adoption of wireless and patch-based ECG monitoring devices
  • Growing integration of AI and remote monitoring platforms with ECG devices
  • Rising demand for ambulatory cardiac monitoring solutions
Top Drivers
  • Growing prevalence of cardiovascular diseases and atrial fibrillation in North America
  • Technological advancements in device design, data accuracy, and monitoring duration
  • Increasing geriatric population and the need for remote patient monitoring
Top Challenges
  • Lack of supportive reimbursement policies for ECG monitoring devices
  • Potential for false-negative and false-positive results in ECG monitoring

The Surging Demand for ECG Patches: Transforming Cardiac Monitoring Across the U.S. and Canada, Accounting for over 71% Market Share

The demand for ECG patches is rapidly growing across the United States and Canada, driven by the increasing prevalence of cardiovascular diseases and the need for convenient, non-invasive monitoring solutions. These innovative devices offer a comfortable and discreet way for patients to track their heart health, enabling early detection and management of potential issues. In 2023, the ECG patch segment generated more than 71.8% revenue share of the North America ECG patch and Holter monitoring market. In the U.S., the adoption of ECG patches has been particularly strong, with the market expected to reach $3.20 billion by 2032. This growth is fueled by factors such as the aging population, rising healthcare costs, and the increasing demand for remote monitoring solutions. For example, the Zio patch by iRhythm Technologies, a leading player in the U.S. market, has been used by over 3 million patients to date.

Canada has also seen a significant uptake of ECG patches, with the market projected to grow at a CAGR of 11.2% from 2021 to 2028. The Canadian healthcare system’s focus on preventive care and the increasing adoption of digital health technologies have been key drivers of this growth. Companies like Medtronic and Abbott have introduced innovative ECG patch solutions in the Canadian market, such as the SEEQ Mobile Cardiac Telemetry System and the Confirm Rx Insertable Cardiac Monitor, respectively. In a recent survey, 85% of U.S. physicians reported an increased interest in remote monitoring solutions, including ECG patches, since the onset of the pandemic.

Other notable examples of ECG patch adoption include:

  1. The VitalPatch by VitalConnect, which has been used to monitor patients in over 200 hospitals across the U.S.
  2. The BodyGuardian Mini by Preventice Solutions, a reusable long-term Holter technology for cardiac monitoring
  3. The Carnation Ambulatory Monitor (CAM) by Bardy Diagnostics, a P-wave centric ambulatory cardiac patch monitor

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Diagnostics Application Emerges as the Frontrunner in the ECG Patch and Holter Monitoring Market, Contribute Over 68.6%

Diagnostics stands as the primary application for ECG patches and Holter monitor market. This is primarily because these devices can continuously record heart rhythms over a prolonged period, allowing doctors to detect arrhythmias and other cardiac issues that a standard electrocardiogram (ECG) might miss. The significant growth of the ECG patch and Holter monitor market underscores this trend, with a global market size reaching a value of USD 5.11 billion by 2032. The efficacy of these devices is evident: a 2022 study showed that the ECG247 Smart Heart Sensor had remarkable accuracy in detecting atrial fibrillation (99.1% sensitivity and 97.4% specificity) compared to conventional Holter monitoring. Cardiologists echo this sentiment, with 78% in a 2023 survey finding ECG patches and Holter monitors crucial for the diagnosis of infrequent arrhythmias.

Technological innovation drives the evolution of these devices in the North America ECG patch and Holter monitoring market. iRhythm Technologies’ Zio patch is widely used, having served over 3 million U.S. patients for long-term monitoring. Other new devices like the novi+ Patch ECG Holter (2022) provide three-channel ECG for up to 14 days, and the 2023 Biotricity Bioflux records up to 30 days of ECG data. Studies consistently prove their diagnostic value, such as a 2023 study where 24-hour Holter monitoring revealed arrhythmias in 27% of patients with unexplained syncope. A 2022 meta-analysis found prolonged monitoring increased atrial fibrillation diagnosis by 32%. This has solidified recommendations like the 2023 American Heart Association’s endorsement of ECG patches and Holter monitors when standard ECGs are inconclusive.

  • Innovation and Comfort Paves the Road

Increased comfort with newer devices is reflected in a 2024 survey where 92% of patients found ECG patches more comfortable than Holter monitors. AI is also transforming the field; in 2023, AI algorithms boosted arrhythmia detection accuracy by 25% when analyzing patch and Holter monitor data. Further device examples include the 2022 ScottCare Chroma2 Holter with 30-day continuous ECG. Studies like a 2023 analysis, where 14-day ECG patch monitoring found atrial fibrillation in 11% of cryptogenic stroke patients, highlight their value in specific conditions in the ECG patch and Holter monitoring market.

Beyond arrhythmias, ECG patches and Holter monitors prove effective in detecting ventricular arrhythmias (96% pooled sensitivity and 92% specificity in a 2024 meta-analysis). Importantly, they offer economic benefits, reducing healthcare costs by an average of 18% per patient in 2023 when used for remote monitoring. Patient satisfaction is high (89% in a 2022 survey), and integration with smartphone apps and cloud-based platforms in 2024 boosted patient compliance by 35%.

Market Leaders and Innovation: Shaping the ECG Patch and Holter Monitor Landscape

The North American ECG patch and Holter monitoring market is a dynamic arena with established players and newer, innovative companies vying for dominance. Among the leaders is iRhythm Technologies, whose Zio patch has been used by over 3 million patients. They prioritize AI-powered data analysis and remote monitoring solutions to stay ahead of the curve. BioTelemetry, with its wide range of cardiac monitoring devices (including the BodyGuardian Mini Holter), was acquired by Philips in 2021, a move that solidified its market position. Bardy Diagnostics, known for its P-wave centric patch, the Carnation Ambulatory Monitor (CAM), found a strategic partner in Hillrom in a 2021 acquisition deal valued at $375 million. Preventice Solutions is another strong player with its BodyGuardian family of remote cardiac monitoring devices. In 2022, MediLynx Partnered with NHLBI & NIH on Study of Efficacy of Mobile Cardiac Monitoring for Patients signals their commitment to developing next-generation ECG patch technology. Finally, Medtronic, a global medical device giant, contributes to the competitive landscape with a significant presence in cardiac monitoring and its launch of the SEEQ Mobile Cardiac Telemetry System in the U.S. market.

Competition in ECG patch and Holter monitoring market revolves around several key factors. Technological innovation, including patch comfort, extended monitoring durations, data accuracy, and integration of AI and remote monitoring capabilities, drives differentiation. Securing favorable reimbursement from insurers is critical, giving an advantage to companies with strong clinical data and demonstrated cost-effectiveness. Robust distribution channels through partnerships with hospitals, clinics, and telehealth providers are vital for reaching patients, benefiting companies with established sales networks. Regulatory approvals, such as FDA clearances, are non-negotiable, favoring companies with a history of successful filings and a commitment to quality standards. Finally, intellectual property through patents and proprietary technologies forms a protective barrier around innovation, encouraging companies to actively seek and defend patent protection.

North America ECG Patch and Holter Monitoring Market Key Players

  • AliveCor, Inc.
  • Cardiac Insight Inc.
  • Fukuda Denshi Co., Ltd.
  • GE Healthcare
  • Hill -Rom
  • Koninklijke Philips N.V.
  • Medtronic Plc.
  • LifeSignals, Inc.
  • Nihon Kohden Corporation
  • Schiller AG
  • Other Prominent Players

Key Segmentation:

By Product

  • ECG Patch
  • Holter Monitor
    • Single Holter Monitors
    • 3 Lead Holter Monitors
    • 6 Lead Holter Monitors
    • 12 Lead Holter Monitors
    • Others

By Application

  • Diagnostics
  • Monitoring
  • Long-term (or continuous) monitoring
    • Automatic analysis
    • Extended cardiac monitoring
    • Others

By End User

  • Hospitals & Clinics
  • Home Settings & Ambulatory Facilities
  • Others

By Country

  • U.S.
  • Canada
  • Mexico

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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