Global Mobile Cardiac Telemetry Systems Market By Application (Lead based and Patch Based), By End User (Hospitals, Cardiac centers and Other End-user), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Mobile Cardiac Telemetry Systems Market size is expected to reach $1.4 billion by 2026, rising at a market growth of 11.3% CAGR during the forecast period. Mobile Cardiac Telemetry (MCT) is a form of real-time ECG monitoring in which the patient uses an outpatient device to monitor their ECG (electrocardiogram) data 24 hours a day for up to 30 days. This state-of-the-art technology is the most reliable and efficient method of monitoring a cardiac patient during the day and sleep.
Global Mobile Cardiac Telemetry Systems Market Size
In the cases of earlier types of monitoring, the patient would wear a device that would log all of their records, either return it to the doctor or give it to the doctor for review. This presents an apparent problem - a time gap between the presentation of the question and the doctor seeing it. MCT monitoring is remarkable as the system automatically identifies and transmits ECG rhythm to a remote diagnostic testing laboratory without any intervention of the patient. The diagnostic laboratory that receives abnormal ECG activity consists of certified and trained personnel under the general supervision of a physician.
Mobile Cardiac Telemetry Systems Market Share
Cardiac monitoring is continuous monitoring of the activity of the heart using electrocardiography techniques to understand the rhythm of the heart and to detect anomalies in the functioning of the heart. Cardiac monitoring is a critical part of the diagnosis of health care, as several functions of the body can be understood by carefully analyzing the rhythm of the heart. Remote cardiac telemetry is one of the newest developments in cardiac monitoring that enables direct control of patients situated at a distance from physicians.
Based on Application, the market is segmented into Lead based and Patch Based. Based on End User, the market is segmented into Hospitals, Cardiac centers and Other End-user. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Mobile Cardiac Telemetry Systems Market to reach a market size of $1.4 billion by 2026
Mobile Cardiac Telemetry Systems Market Cardinal Matrix
The major strategies followed by the market participants are Partnerships and Product Launches. Based on the Analysis presented in the Cardinal matrix; ScottCare Corporation is the major forerunner in the Mobile Cardiac Telemetry Systems Market. Companies such as BioTelemetry, Inc., Asahi Kasei Corporation, Hill-Rom Holdings, Inc., Applied Cardiac Systems, Inc., Medicomp, Inc., G Medical Innovations Holdings Ltd., Preventice Solutions, Inc., and Biotricity, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hill-Rom Holdings, Inc. (Welch Allyn), Asahi Kasei Corporation (Zoll Medical Corporation), ScottCare Corporation (Berkshire Hathway, Inc.), iRhythm Technologies, Inc., Biotricity, Inc., G Medical Innovations Holdings Ltd. (Telerhythmics LLC), BioTelemetry, Inc., Applied Cardiac Systems, Inc., Medicomp, Inc., and Preventice Solutions, Inc.
Recent Strategies Deployed in Mobile Cardiac Telemetry Systems Market
- Jul-2020: Biotricity signed partnership agreement with Verizon for developing EMS solutions for First Responders by integrating its Bioflux solution. Bioflux is a high-precision, single-unit mobile cardiac telemetry (MCT) device that provides real-time monitoring and transmission of patients' ECG information. Combining the Bioflux solution into Verizon's EMS platform fulfill an unmet need for First Responders, enabling them to access critical, potentially life-saving data in real-time and respond immediately in a crisis.
- Apr-2020: Medicomp, Inc. partnered with New York based Lenox Hill Hospital, part of the Northwell Health system. Following the partnership, Lenox Hill Hospital will be using Medicomp’s TelePatch mobile cardiac telemetry (MCT) monitor for measuring the heart’s electrical conduction for abnormalities in patients that have been prescribed certain medications in the treatment of COVID-19.
- Apr-2020: G Medical Innovations Holdings got FDA approval for its Prizma medical smartphone case. Prizma has been allowing consumers to turn their smartphone into a mobile medical monitor to measure a range of vital signs including temperature, heart rate, stress levels and blood oxygen saturation which can be used to detect symptoms associated with infection and chronic illness.
- Oct-2019: BioTel, a subsidiary of BioTelemetry came into partnership with MedAxiom, the nation’s leading cardiovascular healthcare membership organization and performance community. Following the partnership, BioTel Heart’s expertise around both product and deployment strategies helped accelerate the evolution and success of MedAxiom's member network in this critical and growing domain.
- Aug-2019: Zoll Medical Corporation completed the acquisition of Cardiac Science Corporation, a leading provider of automated external defibrillators (AEDs), related services, and accessories. This acquisition supported Zoll's vision of providing integrated, innovative acute, and resuscitation care for all.
- Jun-2019: Zoll Medical Corporation took over TherOx, Inc., a company focused on improving treatment of acute myocardial infarction (AMI) and markets systems to deliver SuperSaturated Oxygen (SSO2) Therapy. This acquisition expanded the Zoll product portfolio in support of excellence for patients and caregivers.
- Mar-2019: Hill-Rom Holdings announced a definitive agreement to acquire Voalte Inc., a developer of in real-time, mobile healthcare communications. The acquisition aims to accelerate Hill-Rom's leadership in care communications and would advance the company's digital and mobile communications platform and capabilities.
- Jan-2019: BioTelemetry signed an agreement to acquire Geneva Healthcare, Inc., the leading provider of remote monitoring for implantable cardiac devices. The acquisition would further solidify its leadership position in remote cardiac monitoring.
- May-2018: Preventice Solutions collaborated with GE Healthcare. The collaboration was aimed to provide customers with an extension of the hospital heart station and to expand GE Healthcare ECG services into the home, creating a more holistic solution for monitoring ambulatory ECG patients. The collaboration delivers a unified solution for providing in-hospital ECG, long-term Holter, cardiac Event Monitoring (CEM) & Mobile Cardiac telemetry (MCT) results into a single portal utilizing the GE Healthcare MUSE cardiac management system.
- Jul-2017: BioTelemetry completed the acquisition of LifeWatch AG, a leading healthcare technology and solutions company. This acquisition strengthened its preeminent position as the leader in wireless medicine, created the foremost connected health platform, significantly enhanced its ability to improve quality of life and reduce cost of care.
- Jun-2017: ScottCare introduced TeleSense, the second generation mobile cardiac telemetry (MCT) monitor. This new version of mobile cardiac telemetry monitor delivers great flexibility in terms of monitoring modalities as it is capable of performing a 24 hour Holter monitoring study, cardiac event monitoring & mobile cardiac telemetry monitoring
- Feb-2017: Hill-Rom Holdings acquired Mortara Instrument, Inc., a leader in diagnostic cardiology and patient monitoring solutions, technologies and devices. The acquisition strengthened its subsidiary Welch Allyn's franchise by adding Mortara Instrument's experienced team, breadth of diagnostic cardiology and patient monitoring offerings and best-in-class ability to integrate with electronic medical record (EMR) systems.
Scope of the Mobile Cardiac Telemetry Systems Market Analysis
- Lead based
- Patch Based
- Cardiac centers
- Other End-user
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Hill-Rom Holdings, Inc. (Welch Allyn)
- Asahi Kasei Corporation (Zoll Medical Corporation)
- ScottCare Corporation (Berkshire Hathway, Inc.)
- iRhythm Technologies, Inc.
- Biotricity, Inc.
- G Medical Innovations Holdings Ltd. (Telerhythmics LLC)
- BioTelemetry, Inc.
- Applied Cardiac Systems, Inc.
- Medicomp, Inc.
- Preventice Solutions, Inc.
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Mobile Cardiac Telemetry Systems Market Related Reports:
What would be the value of global mobile cardiac telemetry systems market by 2026?
The mobile cardiac telemetry systems market is projected to reach USD 1.4 billion by 2026.
What are the factors that anticipated to drive mobile cardiac telemetry systems market trends?
There are several reason that cause high demand of this market one of them is growing medical tourism in emerging nations.
Who are the leading players in mobile cardiac telemetry systems market?
Hill-Rom Holdings, Inc. (Welch Allyn), Asahi Kasei Corporation (Zoll Medical Corporation), ScottCare Corporation (Berkshire Hathway, Inc.), iRhythm Technologies, Inc., Biotricity, Inc., G Medical Innovations Holdings Ltd. (Telerhythmics LLC), BioTelemetry, Inc., Applied Cardiac Systems, Inc., Medicomp, Inc., and Preventice Solutions, Inc.
Which segment dominated the mobile cardiac telemetry systems market in 2019?
The hospital segment dominated the market with a substantial market share. The growth of this segment can be associated with a rise in the amount of minimally invasive surgeries in these facilities.
At what CAGR is the mobile cardiac telemetry systems market estimate to grow in the forecast period?
The expected CAGR of mobile cardiac telemetry systems market is 11.3% from 2020 to 2026.