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Mobile Cardiac Telemetry Systems Market To Reach Value Of Around USD 1,546.4 Million By 2027 – Medtronic, BioTelemetry, Medicomp, Preventice Services, Medi-Lynx, Zoll Medical Corporation, Welch Allyn

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Mobile Cardiac Telemetry Systems Market To Reach Value Of Around USD 1,546.4 Million By 2027 – Medtronic, BioTelemetry, Medicomp, Preventice Services, Medi-Lynx, Zoll Medical Corporation, Welch Allyn

April 17
22:22 2019
Mobile Cardiac Telemetry Systems Market To Reach Value Of Around USD 1,546.4 Million By 2027 - Medtronic, BioTelemetry, Medicomp, Preventice Services, Medi-Lynx, Zoll Medical Corporation, Welch Allyn

The List of Companies

Medtronic,
BioTelemetry Inc.
Applied Cardiac Systems, Inc
Medicomp Inc
Preventice Services, LLC
The Scottcare Corporation
Medi-Lynx (Subisidiary Of Medicalgorithmics, S.A)
Zoll Medical Corporation
Welch Allyn
Telerhythmics, LLC.

According to a new market research study titled Mobile Cardiac Telemetry Systems Market – Rising prevalence of cardiovascular diseases is driving the market for mobile cardiac telemetry systems over the forecast period. The report highlights the trends prevalent in the global mobile cardiac telemetry systems market and the factors driving the market along with those that act as deterrents to its growth.

The mobile cardiac telemetry systems market by technology is segmented into lead based and patch based systems. In 2018, the mobile cardiac telemetry systems with lead-based segment held the largest market share of 60.1% of the mobile cardiac telemetry systems market, by technology. This segment is also expected to dominate the market in 2027 owing to advancements in ambulatory cardiac monitoring, and increasing rate of heart rhythm disorders. Moreover, the patch-based segment is anticipated to witness the fastest growth rate of 12.7% during the forecast period, 2019 to 2027 owing to advances in the technology of wearable cardiac monitors.

Key factors driving the market are rising prevalence of cardiovascular diseases, benefits of monitoring patients with mobile cardiac telemetry (MCT), and rising geriatric population. However, factors such as stringent regulations for approval, and technical problems associated with the mobile cardiac telemetry (MCT) are likely to restrain the market growth to a certain extent.

Some of the prominent players operating in mobile cardiac telemetry systems market are, Medtronic, BioTelemetry Inc., Applied Cardiac Systems, Inc, Medicomp Inc, Preventice Services, LLC, The Scottcare Corporation, Medi-Lynx (Subsidiary Of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC. The market players are focused on bringing new and innovative products and services to sustain their position in the market. For instance, in May 2018, Medtronic discontinued marketing for its SEEQ Mobile Cardiac Telemetry (MCT) System to concentrate support on its Reveal LINQ Insertable Cardiac Monitor (ICM) System.

 

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According to the European Cardiovascular Disease Statistics 2017, in Europe, every year cardiovascular disease (CVD) causes 3.9 million deaths and more than 1.8 million deaths in the European Union (EU). Furthermore, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the U.S. which is around half of the US adult population, suffers from cardiovascular disease.

Owing to the rising cases of cardiovascular diseases across various countries, the need and demand for the mobile cardiac telemetry systems for the treatment of the CVD is expected to increase in the coming years.

 

Increasing Medical Tourism in Emerging Nations

Medical tourism is one of the driving factor that is leading to the growth of the mobile cardiac telemetry systems. The medical tourism is rising in the North American and in Asia Pacific regions. Along with these regions the Middle East region is focusing more for the rise in the medical tourism.

Additionally, government authorities in Asia Pacific are focusing on strengthening their medical tourism sector, thereby maximizing the flow of revenue.

Whereas, Poland has slowly arisen as a favorite medical tourism destination in Europe. For instance, in Poland, the costs medical treatments are often lower by 60-80% compared to the same benefits in the rest of the EU countries. The major reason for the growth of the tourism is Poland’s recognition and acceptance to the European Union. The rising medical tourism in the emerging nations such as Poland is anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.

 

Technology Insights

The mobile cardiac telemetry systems market by technology is segmented into lead based and patch based systems. In 2018, the mobile cardiac telemetry systems with lead based segment held a largest market share of 60.1% of the mobile cardiac telemetry systems market, by technology. This segment is also expected to dominate the market in 2027 owing to advancements in ambulatory cardiac monitoring, and increasing rate of heart rhythm disorders. Moreover, the patch-based segment is anticipated to witness the fastest growth rate of 12.7% during the forecast period, 2019 to 2027 owing to advances in the technology of wearable cardiac monitors.

 

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