According to Future Market Insights, the anticipated size of the multi-channel remote ECG monitors market in 2022 was US$ 187.8 million and is estimated reach US$ 196.2 million in 2023. Sales of multi-channel remote ECG monitors are likely to expand at a CAGR of 4.8% between 2023 and 2033, reaching US$ 313.7 million.
Leading players are mainly focusing on expansion as well as diversification of their market presence and acquiring a new customer base, by tapping on the prevailing business opportunities. The ability to recognize abnormality to avoid delay in the treatment process increases demand for multi-channel remote ECG monitors.
The multi-channel remote ECG monitors market size has expanded due to the introduction of 501(k) clearance from the United States Food and Drug Administration (FDA). Transforming patient care improves via the wireless adoption of multi-channel remote ECG monitors. Giving continuous information to healthcare professionals and patients surges demand for multi-channel remote ECG monitors. Sales of multi-channel remote ECG monitors advances due to the halted use of Holter monitors.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | US$ 187.8 million |
| Projected Forecast Value (2023) | US$ 196.2 million |
| Projected Forecast Value (2033) | US$ 313.7 million |
| Growth rate | 4.8% CAGR |
| Forecast period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Global multi-channel remote ECG monitors market grew at a CAGR of 4.5% between 2017 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 4.8% between 2023 and 2033.
According to the American Heart Association, it is mentioned that nearly half of the adults in the country have some type of cardiovascular disease (CVD), which estimates that ~6 million adults currently suffer from heart failure, and the number is projected to rise by 40% by. More than 130 million adults in the United States, i.e., 45.1% of the population, are anticipated for having some form of CVD.
Remote cardiac monitoring devices help in potentially improving outcomes by provision of accurate and early detection and lowering overall mortality and hospital admissions. Cardiologists in the United States are increasingly on the verge of the adoption of these implantable or wearable devices for providing remote healthcare diagnostics services and solutions.
Increase in Prevalence of Cardiovascular Diseases
Increasing prevalence of cardiovascular diseases increases the demand for multi-channel remote ECG monitors. Growing awareness to monitor health propels the growth of the multi-channel remote ECG monitors market share. Changing lifestyle choices causing various illnesses drive the sales of multi-channel remote ECG monitors.
Technological Developments in ECG Monitoring Devices
Technological developments in ECG monitoring devices expand the multi-channel remote ECG monitors market size. Governments collaborating with manufacturers to strengthen the health of the population globally secures the adoption of multi-channel remote ECG monitors.
Reducing hospital administrative tasks raises demand for multi-channel remote ECG monitors. Applying information technologies in medicine and manufacturing medical devices escalates sales of multi-channel remote ECG monitors. Global business prospects and competitive conditions bolster demand for multi-channel remote ECG monitors.
Delaying emergency room visits and hospitalization using the telemedicine app to digitize and automate critical tasks grows the multi-channel remote ECG monitors market size. Patients suffering from chronic diseases consider the adoption of multi-channel remote ECG monitors to avoid hospital visits to refrain from getting infected.
New Emergence of Start-ups and Collaborations
New emerging start-ups collaborating, acquiring, and partnering to make investments in developing remote patient monitoring systems broaden the multi-channel remote ECG monitors market size.
The adoption of multi-channel remote ECG monitors is increasing owing to greater access and reimbursements. Multi-channel remote ECG monitors market share excels considering the ability to monitor chronic conditions, including tracking Covid-19 symptoms.
Bridging the gap and growing communication, between doctors and patients to be monitored in real-time increases the sales of multi-channel remote ECG monitors. Cost-efficiency of wireless technologies is increasing the growth of the multi-channel remote ECG monitors market size.
Principal Consultant
Availability of Alternate ECG Monitors in the Market
Uncertain reimbursement scenario hinders the demand for multi-channel remote ECG monitors. The availability of alternate ECG monitors in the market hampers the sales of multi-channel remote ECG monitors. Adoption of multi-channel remote ECG monitors reduces due to cybersecurity vulnerabilities in medical devices.
Rising Incidences of Cardiovascular Diseases
Sales of multi-channel remote ECG monitors increase via the collaboration, acquisition, and merger by various manufacturers to advance their technology.
Rising incidences of cardiovascular diseases compel companies to gain insights into the diagnosis and monitoring of cardiac patients through the adoption of multi-channel remote ECG monitors.
Multi-channel remote ECG monitors market share shows growth owing to efforts from device manufacturers to develop advanced products.
Increase in Research and Development activities
Increasing incidence of cardiac conditions globally increases demand for multi-channel remote ECG monitors.
Popularity of remote monitors surges the integration of more than one vital single system increasing the sales of multi-channel remote ECG monitors.
Increasing Research and Development activities to design novel sensor-based patient monitoring systems bolsters the multi-channel remote ECG monitors market size.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Increasing Demand for Wireless and Portable Systems
North America is expected to dominate the multi-channel remote ECG monitors, with an expected market share of 39.4%. Within North America, the United States is expected to hold a market share of 36.6%.
Increasing incidence of chronic diseases, demand for wireless and portable systems escalates the sales of multi-channel remote ECG monitors, in this region. Presence of sophisticated reimbursement structures aimed at reducing expensive expenditure propels the growth of the multi-channel remote ECG monitors market size.
Rise in Mortality Rates and Demand for Inexpensive Treatment
Europe is the succeeding dominating market with a share of 28.1%, with the United Kingdom considered to expand at a CAGR of 3.0%. High mortality rates and rising demand for inexpensive treatment in several Western European countries contribute to market growth.
In-house monitoring, supportive central data management systems, and rising accuracy and efficiency of remote patient monitoring further fuel market growth.
High Mortality Rate Raises the Demand of the Market
Asia is expected to witness significant growth due to the presence of untapped markets and opportunities, especially in India expanding at a CAGR of 4.2%, and China expanding at a CAGR of 5.1%.
Owing to Japan’s high mortality rate and wide old age population (65+), the region is anticipated to be a jet revenue generator with a value share of 7.5%.
Wireless Product is the Most Preferred Product Type
Growth of the market is helped by the rise in the number of older people, with the surge in the high number of people with cardiovascular diseases, and the regular release of new products by key market players. Wireless products thus, hold a market share of 66.8%.
Hospitals Hold a Dominant Position in this Market
Hospitals are accounted for 48.5% of the total market share and the trend is expected to continue over the forecast period. High admission rates of patients for proper treatment within hospital settings across the globe will continue pushing sales in this segment over the forecast period.
Some of the key participants of the multi-channel remote ECG monitors market are:
They assist significantly in the manufacturing, and distribution of multi-channel remote ECG monitors, as well as spread awareness of its key features, which eventually expands the market size. Some of the recent developments in the multi-channel remote ECG monitors market are:
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.8% from 2023 to 2033 |
| Expected Value in 2023 | US$ 196.2 million |
| Projected Value in 2033 | US$ 313.7 million |
| Base Year for Estimation | 2022 |
| Historical Data Available For | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative units | Revenue in US$ million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Countries Profiled |
|
| Key Companies Profiled |
|
| Customization & Pricing | Available upon Request |
The hospital sector holds high revenue potential.
The United States, the United Kingdom, and Germany are estimated to dominate the global market.
The market is forecast to register a CAGR of 4.8% through 2033.
During 2018 to 2022, the market registered a CAGR of 4.5%.
The growing number of patients enhance treatment processes disrupts the current market trends.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Wired 5.3.2. Wireless 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Hospitals 6.3.2. Clinics 6.3.3. Lifestyle 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA. 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Application 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Type 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Application 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Type 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Application 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Type 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Application 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Type 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Type 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA. 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Type 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Type 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Type 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Type 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Type 15.5.2.2. By Application 15.6. United Kingdom. 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Type 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Type 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Type 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Type 15.9.2.2. By Application 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Type 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Type 15.11.2.2. By Application 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Type 15.12.2.2. By Application 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Type 15.13.2.2. By Application 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Type 15.14.2.2. By Application 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Type 15.15.2.2. By Application 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Type 15.16.2.2. By Application 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Type 15.17.2.2. By Application 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Type 15.18.2.2. By Application 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Type 15.19.2.2. By Application 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Type 15.20.2.2. By Application 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Type 15.21.2.2. By Application 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Type 15.22.2.2. By Application 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Type 15.23.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Type 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Shenzhen Mindray Bio-Medical Electronics Co. Ltd 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Nihon Kohden Corporation 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Omron Corporation 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. OSI Systems Inc 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Koninklijke Philips N.V 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. F. Hoffmann-La Roche Ltd 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Welch Allyn 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Smiths Medical 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Abbott 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Boston Scientific Corporation 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Healthcare
December 2021
REP-GB-452
September 2023
239 pages
Explore Healthcare Insights
View Reports
Multi-channel Remote ECG Monitors Market
