Global Mobile Cardiac Telemetry Systems Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Mobile Cardiac Telemetry Systems Market overview:

“The global Mobile Cardiac Telemetry Systems Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market.

Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries.

It also covers threats or challenges for existing as well as new entrants in the market. The global mobile cardiac telemetry systems market has been segmented on the basis of application, end-use, as well as regions, and countries.

A Mobile Cardiac Telemetry (MCT) system is a form of real-time Electrocardiogram (ECG) monitoring, in which, the patient wears a device that monitors their ECG data on an outpatient basis – 24 hours/day, for up to 30 days.

Dynamics:

The rising prevalence of cardiovascular diseases and associated disorders on a global-scale is gradually increasing the general awareness concerning the benefits of MCT mechanisms. This is expected to have a significant impact on the revenue growth of the global mobile cardiac telemetry systems market over the next 10 years. Additionally, physical inactivity as a result of many individuals leading a sedentary lifestyle, paired with the sharp rise in obesity and the increase in the number of individuals smoking and drinking alcohol excessively are other factors that are expected to contribute to future market growth of this industry.

In light of the recent COVID-19 outbreak, numerous industries across the globe have been put under immense stress, with a majority of them being forced to change their day-to-day operational procedures. The healthcare industry is no different.

In this sector, the pandemic has resulted in a majority of medical facilities being understaffed and overworked due to the spike in the number of in-patients. Furthermore, MCT devices allow for the remote monitoring of patients, thereby, reducing the need for sustained hospitalization, and also contributes to maintaining safety protocols for both healthcare workers and patients alike.

This factor is expected to have an impressionable impact on the revenue growth of this global market in the foreseeable future.

Increasing investments by key market players to develop improved devices that are more compact and offer better monitoring capabilities is another factor that is slated to have a positive impact on the future market growth of this sector.

Segmentation of the global mobile cardiac telemetry systems market is as follows:

In terms of application, the lead-based segment accounted for the majority revenue share of the global mobile cardiac telemetry systems market in 2019, as these devices are preferred by patients for their lightweight, user-friendly characteristics. Although, the patch-based segment is expected to register considerable revenue growth over the next 10 years.

On the basis of end-use, the hospital's segment accounted for the majority revenue share of this global market, owing to the steady increase in the number of minimally invasive procedures being undertaken in these facilities.

However, the cardiac center's segment is anticipated to index the fastest rate of revenue growth in the years to come, due to the increase in the number of surgeons and cardiac centers available at these facilities. The ambulatory surgical center's segment is also slated to register sizable revenue growth in the coming years.

Regional Segmentation and Analysis:

North America accounted for the majority revenue share of the global medical cardiac telemetry systems market in 2019, due to factors such as the rising prevalence of cardiovascular diseases, a booming geriatric population, as well as increasing healthcare expenditures in this region. Markets in the Asia Pacific region as also slated to index considerable revenue growth over the next decade.

Segmentation of the Global Mobile Cardiac Telemetry Systems Market:

Segmentation by Application:

• Lead-based
• Patch-based

Segmentation by End-Use:

• Hospitals
• Cardiac centers
• Others

Segmentation by Region:

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