Global Lead-based Mobile Cardiac Telemetry Systems Market Size (2024-2030)

According to the report published by Virtue Market Research in Global Lead-based Mobile Cardiac Telemetry Systems Market was valued at USD 2.66 billion and is projected to reach a market size of USD 5.92 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 12.1 %.

Market Overview: 

The rising prevalence of cardiovascular disorders and associated mortality has raised awareness about the benefits of Mobile Cardiac Telemetry (MCT) devices, which is fuelling the market growth. Furthermore, physical inactivity due to leading a sedentary lifestyle along with increased cases of tobacco smoking and obesity has increased cardiac disorder morbidities. Also, the lead-based MCTs are light weighted, user-friendly, and therefore preferred more among several patients though there are a few disadvantages associated with lead-based MCTs such as lead failure and telemetry disruption, which can hamper the global market growth in the forthcoming years. 

COVID-19 Impact on the global Lead-based Mobile Cardiac Telemetry Systems Market: 

The COVID-19 outbreak caused due to SARS-CoV-2 had already affected millions of people globally. The extremely contagious coronavirus has also had a severe economic impact and implications on the majority of the sectors, especially the medical device industry. The outbreak of the coronavirus has broadly spread all over the world since the latter phase of 2019. Artificial intelligence with the use of deep learning technology has witnessed great success in the medical device and imaging sector due to its high ability of feature extraction through large data sets. The rising COVID-19 cases across the world and emerging AI technologies have boosted the demand for AI telehealth by providing remote access to reports. Initially, the patients showed signs of improvement with the combined usage of hydroxychloroquine and azithromycin, but it also has a risk of prolonging the QT interval. Lead-based mobile cardiac telemetry is widely used in such patients to remotely monitor their condition to reduce the chances of serious hospitalization and creating further complications. 

Market Drivers: 
The increasing incidence of arrhythmia is fuelling the demand for the lead-based mobile cardiac telemetry systems in the global market:  

The device is very helpful for the rapid detection of arrhythmogenic risks, especially for COVID-19 patients in the outpatient setting. Hospitals all-over-the world are overburdened with patients due to the pandemic and its aftermath, these devices are very helpful for remote monitoring of patients, which is further bolstering the growth of the market for the lead-based mobile cardiac telemetry system.  

Rising awareness of the disorder among people in developed nations is boosting market growth for the lead-based mobile cardiac telemetry systems: 

With the increase in awareness among people due to various steps taken by the government and independent health organizations for healthcare and well-being, more people are taking preventive measures and are going for regular check-ups, screenings, and tests. Also, several counselling programs and camps are also being organized at the community level support. These are a few factors that are leading to an increased size of the lead-based mobile cardiac telemetry market.  

The continuous innovation and advancements in technology support the market for lead-based mobile cardiac telemetry systems worldwide:  

The emergence of technologically advanced devices and sources that offer efficient patient care, is anticipated to boost the industry’s growth. The adoption of lead-based mobile cardiac telemetry systems is escalating rapidly due to the potential benefit it offers such as controlled flow, well-organized dosing, quicker response rates, and higher durability & reliability. The above-mentioned factors are likely to fuel industry expansion. 

Market Restraints: 

The high installation cost of lead-based mobile cardiac telemetry system devices and their side effects may hamper its global market size: 

The high cost associated with the devices that come with the therapeutic utilization of these devices is one of the major factors that will obstruct the growth of the Lead-based Mobile Cardiac Telemetry Systems Market during the forecast timeline. 

The strict and stringent regulatory guidelines by government is restricting the market growth: 

The stringent guidelines and rules by governments of several nations pose a major challenge to the growth of the Lead-based Mobile Cardiac Telemetry Systems market. Also, the emergence of other alternatives by local manufacturers will further act as a market restraint and impede the growth rate of the market 

LEAD-BASED MOBILE CARDIAC TELEMETRY SYSTEMS MARKET REPORT COVERAGE:

This research report on the global Lead-based Mobile Cardiac Telemetry Systems Market has been segmented and sub-segmented based on End-Use, Region, and Key Companies. 

Lead-based Mobile Cardiac Telemetry Systems Market – By End-Use. 

• Hospitals 
• Cardiac Centres 
• Others 

Based on end-use, the Lead-based Mobile Cardiac Telemetry Systems Market has been segmented into 3 segments – Hospitals, Cardiac Centres, and Others.  

The hospitals' segment dominates the global market for lead-based mobile cardiac telemetry systems and accounts for a revenue share of more than 60.0% in 2022. The growth can be primarily attributed to the rising number of minimally invasive surgeries under these advanced facilities. Moreover, hospitals are omnipresent and easily accessible making them preferable to other facilities available. Furthermore, favourable reimbursement policies by the government and associated authorities are anticipated to fuel the demand in the forthcoming years. 

The cardiac centre segment is predicted to witness the fastest growth over the outlook period. The growth can be majorly attributed to the growing number of cardiac centres and the easy availability of surgeons under these facilities. The ambulatory surgical centres are also likely to gain momentum during the outlook period due to an increased demand for outpatient services worldwide. Furthermore, cost-effective treatment facilities and preferable shorter stay duration are some factors fuelling segment growth. 

Lead-based Mobile Cardiac Telemetry Systems Market – By Region. 

• North America 
• Europe 
• Asia-Pacific 
• South America 
• Middle-East and Africa 

Based on region, the Lead-based Mobile Cardiac Telemetry Systems Market has been segmented into 5 major regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa. 

North America dominates the lead-based mobile cardiac telemetry system market and accounts for a remarkable revenue share of around 37.0% in 2022. This growth can be associated with various factors such as the growing geriatric population, increased incidence of cardiac disorders, and increasing healthcare expenditure.  Moreover, the presence of key service providers with improved healthcare services is anticipated to fuel the global market growth during the outlook period. 

In the Asia Pacific, the market for lead-based mobile cardiac telemetry systems is anticipated to exhibit a lucrative CAGR of around 13.5% in the outlook period. Factors such as poor dietary habits and the increasing adoption of a sedentary lifestyle leading to physical inactivity are contributing hugely to the increased cardiovascular morbidities in the region. Moreover, various multinational companies are setting up their manufacturing hubs in the region due to low manufacturing costs and skilled labor availability. The aforementioned factors are further propelling the demand for lead-based mobile cardiac telemetry system devices. 

Lead-based Mobile Cardiac Telemetry Systems Market – By Companies. 

1. BioTelemetry, Inc. 
2. ScottCare 
3. Biotricity Inc. 
4. Welch Allyn 
5. Applied Cardiac Systems Inc. 
6. Medicomp Inc. 
7. Preventice Solutions 
8. Telerhythmics LLC 
9. Zoll Medical Corporation 
10. iRhythm Technologies, Inc. 

The Lead-based Mobile Cardiac Telemetry Systems Market is highly fragmented and extremely competitive with key players involved in the research and development and constant technological innovation done by the major vendors. 

Recent Industry Developments: 

• In September 2019, iRhythm Technologies, Inc. announced its collaboration with Verily Life Sciences to integrate iRhythm’s AI-based mobile cardiac telemetry system with Verily’s data analytical technology to screen, monitor, and diagnose atrial fibrillation among patients.