Over 17.7 Million people die each year from cardiovascular diseases, estimating 31% of all deaths worldwide, out of which, 80% of the deaths are due to heart attacks ~ World Health Organization
“Global Mobile Cardiac Telemetry Devices Market: Potential Demand Analysis & Opportunity Assessment 2027”
Rising number of cardiac diseases has raised the demand for remote monitoring and transmission of cardiac events to the physicians in real time. Mobile cardiac telemetry (MCT) is a technology that is used for indications such as cardiac dysrhythmia, atrial fibrillation or flutter, etc. Owing to the massive growth of healthcare industry combined with increasing awareness regarding cardiovascular diseases around the globe, the mobile cardiac telemetry devices market is predicted to mark USD 1,470.7 Million by the end of 2027 as compared to USD 459.1 Million in 2017 by expanding at a compound annual growth rate of 12.4% over the forecast period i.e. 2018-2027. Moreover, North America is expected to expand with dominant market revenue of USD 597.8 Million by 2027.
The mobile cardiac telemetry devices market is divided by technology into lead based and patch based, out of which, the lead based segment is expected to dominate the market by capturing the market share of 59.8% by the end of 2027.
Rising Cases of Cardiovascular Diseases to Accelerate the Demand for Mobile Cardiac Telemetry Devices
According to a recent market study by Research Nester, changing lifestyle & stress along with increased use of caffeine are causing increase in blood pressure along with intensifying the risks of cardiac problems in people.
- Growing Occurrences of Cardiac Diseases – According to statistics, the cardiovascular diseases contribute the major share of deaths around the globe.
- Use of Tobacco – Tobacco use, unhealthy diet and obesity, physical inactivity and harmful use of alcohol among people are some of the behavioral factors that increase the risks of cardiac diseases in the existing generation.
- Increasing Drug Abuse – Increasing drug abuse, some over-the-counter medications, prescription medications and dietary supplements can trigger abnormal heart rhythms.
- Increasing Research & Development Activities – Research funding is being provided by various market players to improve their product portfolio by incorporating advances such as notifying daily patient’s disease status and better remote patient follow-up compliance through automatic uploads of data among others.
Additionally, immediate data delivery and prevention of first heart attacks and strokes is driving many market players to come up with innovative technologies in the mobile cardiac telemetry devices market. For instance, Biotricity Inc., a medical technology company, announced the launch of Bioflux, a real-time and high-precision mobile cardiac telemetry solution during March 2018.
Global Players’ Expertise to Minimize the Barriers faced by The Mobile Cardiac Telemetry Devices Market
Despite the ongoing research and development activities, Research Nester focuses on the obstacles that might deter the growth of the mobile cardiac telemetry devices market in upcoming years.
- High Cost – The primary reason for low adoption of these devices is because of the technical component that requires significantly greater costs including specialized education & training for staff, labor costs, equipment costs, maintenance costs and supply costs.
- Presence of Alternatives – The presence of more efficient and cheaper alternatives such as holter monitoring device and event monitoring device are expected to slow down the market growth.
The report titled “Global Mobile Cardiac Telemetry Devices Market: Potential Demand Analysis & Opportunity Assessment 2027” delivers detailed overview of the mobile cardiac telemetry devices market in terms of market segmentation by technology, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the mobile cardiac telemetry devices market which includes company profiling of BioTelemetry Inc., Medicomp Inc., Welch Allyn, ZOLL Medical Corporation, ScottCare, National Cardiac Inc., Biotricity Inc., Applied Cardiac Systems Inc., Preventice Solutions and Telerhythmics LLC.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the mobile cardiac telemetry devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.