Mobile Cardiac Telemetry Systems Market

Mobile Cardiac Telemetry Systems Market

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Author:

Raksha Sharma

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Editor:

Shreyas Tandon

The mobile cardiac telemetry systems market size was USD 933 Mn in 2022 and is likely to reach USD 2652 Mn by 2031, expanding at a CAGR of 10.1 % during 2023–2031. Increasing number of cardiovascular complications is boosting the adoption of trackers and devices, which in turn, is expected to fuel the market.

Mobile cardiac telemetry (MCT) is an electrocardiogram (ECG) monitoring method that utilizes a compact portable device to keep track of the patient’s cardiac activity. It is an effective technique for monitoring cardiac activity throughout the day and night. This device can be used during any physical activity such as running, sleeping, and exercising.

Mobile Cardiac Telemetry Systems Market Outlook

It is widely used in patients to remotely monitor them and reduce hospitalization. The cardiac monitoring process requires constant examination of the heart through electrocardiography and helps spot irregularities in the working of the heart. A patient can enter the symptoms manually with the help of a push button signaling device.

The device auto-indicates for conditions including tachycardia and bradycardia. Mobile cardiac telemetry represents real-time electrocardiogram monitoring, where the patient wears the ECG data monitoring device, and the telemetry unit converts the received signals into pictures of each heartbeat. These pictures are sent to a monitor displaying the heartbeats on a continuous basis.


Cardiac activity monitoring is an indispensable part of healthcare diagnosis, as the rhythm of the heart is linked with several functions of the human body. Remote cardiac telemetry is a new development in the field, which remotely monitors cardiac activity. Some MCT systems provide beat-to-beat analysis by measuring each heartbeat over a 24-hour period.

According to the World Health Organization (WHO), cardiovascular disorders cause around 17.9 Mn deaths every year, which accounts for to about 32% of the total mortality rate in the world. Around 6,59,000 people in the US succumb from heart problems every year. Heart disorders are primarily caused due to inactive lifestyles and unhealthy food habits. Effective nutrient absorption and good metabolism are estimated to help prevent abnormal cardiac conditions.

The COVID-19 pandemic created growth opportunities that helped moderate revenue generation in the global mobile cardiac telemetry systems market. A major revenue share of the market was from the increase in the occurrence of heart disease, due to the effect of SARS-CoV-2 on human bodies during the pandemic. If the diagnosis of the virus is delayed, individuals prone to heart disorders contribute to a rising mortality rate.

The early symptoms of COVID-19 affect the heart causing nausea, fatigue, and strain. Hospitals were heavily burdened with patients during the pandemic, which increased the demand for remote medication and hospitalization. The compact-sized handy devices help in easy monitoring without a conventional hospital setup. This resulted in the expansion and growth of the mobile cardiac telemetry systems market.

Mobile Cardiac Telemetry Systems Market Dynamics

Key Drivers

Increasing occurrence of cardiovascular dysfunction and other diseases has emphasized the advantages of mobile cardiac telemetry systems, which is boosting the market. Moreover, physical languor due to inactive lifestyles, obesity, and smoking has compounded cardiac disorder, fueling the demand for mobile cardiac telemetry systems.

The advanced memory and information storage capabilities of the software help in covering the health insurance exchange. Additionally, rise in the expenditure on healthcare and a majority of the population inclined toward balanced lifestyles are expected to fuel the market.

Existing Restraints

The high cost of the device & setup, long-term monitoring, and reliance on external factors are projected to moderately restrain the market. Rising concerns regarding poor patient conformity are expected to impede the market.

Emerging Opportunities

Increasing incidence of arrhythmia results in the expansion of product innovation, small & handy gadgets, and technological advancements among the players in the market. Growing applications of telemedicine enable the use of data to communicate and provide healthcare even at distance from a patient. This offers benefits to patients and doctors, without compromising the quality of monitoring and consultation. Wearable monitoring devices are estimated to create lucrative opportunities in the market.

Mobile Cardiac Telemetry Systems Market Dynamics

Scope of Mobile Cardiac Telemetry Systems Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Attributes

Details

Report Title

Mobile Cardiac Telemetry Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Application (Lead-Based and Patch-Based) and End-user (Hospitals, Cardiac Care Centers, Diagnostic Centers, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

iRhythm Technologies, Inc.; ACS Diagnostics; Medicalgorithmics.com; BioTelemetry; Medicomp Systems; Preventice Solutions Inc.; ScottCare; Telerhythmics, LLC.; ZOLL Medical Corporation; and CorVitals

Mobile Cardiac Telemetry Systems Market Segment Insights

Based on application, the mobile cardiac telemetry systems market is bifurcated into lead-based and patch-based. The lead-based segment accounted for a significant share of the market in 2019 and is estimated to grow in the forecast period. The segment held a revenue share of about 65% in 2021 due to the high preference for easy applications and lightweight features. The lead wire joins the electrodes to the ECG telemetry device.

The patch-based segment is expected to grow, as a clinical tool for the observation of bradyarrhythmia and tachyarrhythmia. The device emerges in high demand as a feasible and patient-friendly option for the detection of arrhythmia. Moreover, the growth of the segment is attributed to the advancements in the technology of wearable cardiac monitors.

Mobile Cardiac Telemetry Systems Market Application

In terms of end-user, the market is divided into hospitals, cardiac care centers, diagnostic centers, and others. The hospitals segment is anticipated to hold a dominant share of the market in 2021. The growth of the segment is accredited to the rising number of hospitals, non-invasive surgeries, and easy access to hospitals. However, the cardiac care centers segment is projected to grow during the forecast period, as these centers provide easy accessibility to surgeons, cost-effectiveness, and short stay duration are driving the segment.

Mobile Cardiac Telemetry Systems Market End User

Based on region, the global mobile cardiac telemetry systems market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America held a vital share of the global market, in terms of revenue in 2019
 and the market in region is expected to grow in the coming years due to rising geriatric population and increasing healthcare expenditure. According to the Administration for Community Living, the geriatric population surged by 33% in the US in the past decade.


Presence of several healthcare service providers in North America is anticipated to boost the market in the region. Additionally, the market in Asia Pacific is estimated to expand at a CAGR of around 13.5% during the projection period. Rising adoption of a stationary lifestyle influences instant food and dietary habits lead to physical inactivity causing cardiovascular complications. These factors are anticipated to drive the market in the region.

Mobile Cardiac Telemetry Systems Market Regions

Segments

The mobile cardiac telemetry systems market has been segmented on the basis of

Application

  • Lead-based
  • Patch-based

End-user

  • Hospitals
  • Cardiac Care Centers
  • Diagnostic Centers
  • Others

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • iRhythm Technologies, Inc.
  • ACS Diagnostics
  • Medicalgorithmics.com
  • BioTelemetry                                     
  • Medicomp Systems
  • Preventice Solutions Inc.
  • ScottCare
  • Telerhythmics, LLC.
  • ZOLL Medical Corporation
  • CorVitals

Competitive Landscape

Key players operating in the global mobile cardiac telemetry systems market include iRhythm Technologies, Inc.; ACS Diagnostics; Medicalgorithmics.com; BioTelemetry; Medicomp Systems; Preventice Solutions Inc.; ScottCare; Telerhythmics, LLC.; ZOLL Medical Corporation; and CorVitals. These companies adopt strategies such as mergers, acquisitions, partnerships, collaboration, and product launches to boot their market share. For instance,

  • In 2020, BioTelemetry extended its MCOT program to COVID-19 patients in several institutions in the US to track QT prolongation linked with hydroxychloroquine medication.
  • In 2019, iRhythm Technologies, Inc. collaborated with Verily Life Sciences to screen, track, and spot atrial fibrillation with the help of data analysis and artificial intelligence.
Mobile Cardiac Telemetry Systems Market Key Players
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Mobile Cardiac Telemetry Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Mobile Cardiac Telemetry Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Mobile Cardiac Telemetry Systems Market - Supply Chain
  4.5. Global Mobile Cardiac Telemetry Systems Market Forecast
     4.5.1. Mobile Cardiac Telemetry Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Mobile Cardiac Telemetry Systems Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Mobile Cardiac Telemetry Systems Market Absolute $ Opportunity
5. Global Mobile Cardiac Telemetry Systems Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     5.3.1. Lead-based
     5.3.2. Patch-based
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Mobile Cardiac Telemetry Systems Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     6.3.1. Hospitals
     6.3.2. Cardiac Care Centers
     6.3.3. Diagnostic Centers
     6.3.4. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Mobile Cardiac Telemetry Systems Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
8. North America Mobile Cardiac Telemetry Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     8.4.1. Lead-based
     8.4.2. Patch-based
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     8.7.1. Hospitals
     8.7.2. Cardiac Care Centers
     8.7.3. Diagnostic Centers
     8.7.4. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
9. Latin America Mobile Cardiac Telemetry Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     9.4.1. Lead-based
     9.4.2. Patch-based
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     9.7.1. Hospitals
     9.7.2. Cardiac Care Centers
     9.7.3. Diagnostic Centers
     9.7.4. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
10. Europe Mobile Cardiac Telemetry Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     10.4.1. Lead-based
     10.4.2. Patch-based
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     10.7.1. Hospitals
     10.7.2. Cardiac Care Centers
     10.7.3. Diagnostic Centers
     10.7.4. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Mobile Cardiac Telemetry Systems Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     11.4.1. Lead-based
     11.4.2. Patch-based
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     11.7.1. Hospitals
     11.7.2. Cardiac Care Centers
     11.7.3. Diagnostic Centers
     11.7.4. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Mobile Cardiac Telemetry Systems Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by Applications
     12.4.1. Lead-based
     12.4.2. Patch-based
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Mobile Cardiac Telemetry Systems Market Size and Volume Forecast by End Users
     12.7.1. Hospitals
     12.7.2. Cardiac Care Centers
     12.7.3. Diagnostic Centers
     12.7.4. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Mobile Cardiac Telemetry Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Mobile Cardiac Telemetry Systems Market: Market Share Analysis
  13.2. Mobile Cardiac Telemetry Systems Distributors and Customers
  13.3. Mobile Cardiac Telemetry Systems Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. iRhythm Technologies, Inc.
     13.4.2. ACS Diagnostics
     13.4.3. Medicalgorithmics.com
     13.4.4. BioTelemetry                                           
     13.4.5. Medicomp Systems
     13.4.6. Preventice Solutions Inc.
     13.4.7. ScottCare
     13.4.8. Telerhythmics, LLC.
     13.4.9. ZOLL Medical Corporation
     13.4.10. CorVitals

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