The current generation of consumers is leading a very stressful life. Adding to it are rising problems resulting from environmental pollution, taking a toll on the human body. In the current scenario, it has become indispensable to develop a better and more accurate method of heart monitoring, especially for longer durations and in real-time conditions. The global holter monitoring systems market is expected to rise at a CAGR of 4.5% over the forecast period of 2016 – 2026.
Early Occurrence of Cardiac Disorders Due to Smoking, Drinking, Stress and Obesity
Rising pollution levels and certain genetic disorders have brought the average age of the occurrence of cardiac disorders substantially down. This has resulted in consumers being more vigilant about their health, especially heart health. A large percentage of the population is opting for preventive measures, which include routine checkups and tests to make sure everything is in order.
The increased consumption of nicotine due to the rising number of smokers has also severely affected the health of many, giving rise to the early onset of cardiac disorders. A similar trend has been observed in the case of alcohol consumption, fueling the demand for holter monitoring systems. An increasing number of people are undergoing tests to regularly monitor cardiac activity and holter monitoring systems are easing this process for doctors as well as patients.
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Stress is a major factor triggering cardiac disorders. Most corporate companies are conducting stress tests for employees as a preventive measure. The irregular eating habits of people and the rise in the consumption of junk food leading to obesity and cardiac disorders have also resulted in an upsurge in demand for holter monitoring systems.
Consumers Demand Home-based, Cost-effective Solutions
The rising cost of healthcare has resulted in people looking for home care and cost-effective alternatives. Holter monitoring systems offer an opportunity to save on out-of-pocket expenses in hospitals as well as save time by monitoring their ECG activity on the go. This has placed the advantage in the hands of doctors who can monitor the ECG patterns of patients in real time rather than in controlled or simulated situations. Doctors are hence able to make accurate diagnosis and provide treatment accordingly. It also allows the patient to continue with their routine work. The cost-effectiveness of holter monitoring systems has attracted the attention of government bodies as well. Holter monitoring systems are now being considered a low-cost treatment for cardiac disorders.
The global holter monitoring systems market also faces some challenges. The reimbursement policies of many insurance companies have still not embraced holter monitoring systems, resulting in the diminished demand from consumers. Moreover, in developing and underdeveloped regions, consumers are not readily accepting of new technologies due to the lack of funding and technical know-how, resulting in low demand in the global holter monitoring systems market.
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Key players in the global holter monitoring systems market include Koninklijke Philips N.V, Spacelabs Healthcare, Inc., Fukuda Denshi Co. Ltd., Nihon Kohden Corporation, GE Healthcare, Mortara Instrument, Inc., Schiller AG, and Welch Allyn (Hill-rom Company, Inc.).