Mobile Cardiac Telemetry Systems Market Growth & Trends
The global mobile cardiac telemetry systems market size is expected to reach USD 2.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 12.1% from 2022 to 2030. Increasing prevalence of the cardiovascular disorder, need for effective arrhythmia management, and technological advancement in telemetry devices are driving the market.
Increasing demand for real-time cardiac monitoring and self-care management is boosting the demand for mobile cardiac telemetry devices. In addition, the presence of advanced healthcare infrastructure, high disposable income in the developed countries is further propelling the revenue. Moreover, these devices were found to help monitor COVID-19 patients taking azithromycin and hydroxychloroquine medication which is expected to boost the market revenue. The market is technology-driven and the key industry players are continuously trying to develop user-friendly devices to sustain their market share.
The mobile cardiac telemetry devices read cardiac rhythm with the help of external devices consisting of metal sensors. In addition, some of the monitoring functions offered by smartphones use photo-plethysmography through phone cameras to detect atrial fibrillation. In a study published in December 2017, wireless ECG delivered a performance accuracy of 91.62% corresponding to hospital diagnostic standards while providing portable monitoring.
In April 2020, Medicomp, Inc. partnered with the Lenox Hill Hospital to monitor heart’s electrical conduction of COVID-19 patients with certain medication by its TelePatch- Mobile Cardiac Telemetry (MCT), which is expected to increase the adoption of this device in the forthcoming years.
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Mobile Cardiac Telemetry Systems Market Report Highlights
In terms of revenue, lead-based dominated the application segment in 2021 owing to its accuracy and ease of use. Moreover, the product is cost-effective as compared to patch-based which is further propelling the demand
The patch-based segment is expected to show lucrative growth over the forecast period. The growth can be attributed to its increased adoption in outpatient facilities and ambulatory centers
On basis of end-use, hospitals held the largest revenue share in 2021 owing to an increased number of minimally invasive surgeries within these facilities
The cardiac centers’ segment is expected to witness the fastest growth over the forecast period owing to its associated advantages such as reduced wait times, availability of skilled professionals, and shorter stay duration
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