Mobile Cardiac Telemetry Systems Market Outlook and Strategic Insights And Key Business Influencing Factors To 2027
The Mobile Cardiac Telemetry Systems market was valued at US$ 564.77 million in 2018 and it is projected to reach US$ 1,546.43 million by 2027; it is expected to grow at a CAGR of 12.4% from 2019 to 2027.
Mobile cardiac telemetry systems is denoted as MCT or MCOT, it is most loved technology by the ambulatory cardiac monitoring sector. The device offers advanced real-time analysis technology and enables the cost reduction for the diagnosis by electrocardiographic for the outpatients. This are small portable device that can be carried along anywhere. It delivers advantages to both the patient and the physician that can lead to more efficient care. The growth of the Mobile Cardiac Telemetry Systems in healthcare market is attributed to the rising prevalence of cardiovascular diseases, benefits of monitoring patients with mobile cardiac telemetry (MCT), and rising geriatric population. However, during the forecast period the market is likely to get negatively impacted due to the factors such as stringent regulations for approval and technical problems associated with the mobile cardiac telemetry (MCT).
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Key Findings from The Mobile Cardiac Telemetry Systems Market
- In terms of technology, the Mobile Cardiac Telemetry Systems in healthcare market is segmented into lead based, and patch based. In 2018, the lead based segment held a largest market share of 60.14% of the mobile cardiac telemetry systems market, by technology.
- In terms of end user, the Mobile Cardiac Telemetry Systems in healthcare market is segmented into hospitals, ambulatory centers, cardiac centers. In 2018, the hospitals held a largest market share of 61.73% of the mobile cardiac telemetry systems market, by end user.
- 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 (Subisidiary Of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC.
- The market players are focused towards 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.
Growing Applications of Mobile Cardiac Telemetry Systems in Healthcare to Drive Mobile Cardiac Telemetry Systems in Healthcare Market Growth
Cardiovascular diseases (CVDs) are the disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease and other conditions. Some of the major factors which leads to the death and difficulties are use of tobacco, unhealthy diet, and physical inactivity which increases the risk of heart attacks and strokes. CVDs are the leading cause of death across the globe, it affects more people as compared to any other disease. According to the World Health Organization’s Fact sheet on cardiovascular diseases, in 2016, approximately 17.9 million people died from CVDs, which was 31.0% of all the global deaths. Among these approximately 85% were due to heart attack and stroke. Heart attacks and strokes are mainly caused due to fatty deposits that block the blood vessels that prevents blood from flowing to the heart or brain. Strokes are also caused due to bleeding from a blood vessel in the brain or from blood clots. Heart attacks and strokes are caused due to increased consumption of tobacco use, unhealthy diet and obesity, physical inactivity and rising alcohol consumption, hypertension, and diabetes.
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). The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. CVD is the major reason of the death in men and women in all countries. 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.
The mobile cardiac telemetry (MCT) system is a small sensor and monitor that patients wear in their day to day life. Whenever cardiac events occur, MCT instantaneously transmits the data to a center for analysis and response, which in turn sends a report along with graphs and trends to the patient’s physician for diagnosis and therapy management. Use of MCT instead of an Event or a Holter monitor leads to better outcomes regarding diagnostic yield, management of arrhythmia through the use of antiarrhythmic drugs, and cost savings in the hospital for ablation, CABG, heart/pericardium, and valve/septa procedures. The MCT offers up to 30 days of retrievable ECG data, A-Fib onset and offset, episode, daily summary, and Urgent notifications, and full disclosure report on demand. It is an advanced algorithm that computes heart rate and detects asymptomatic and symptomatic arrhythmia at a wide variety of rates and durations.
The rising population of the elderly people is the major cause of the heart diseases. The heart disease are mostly pone to the elderly people due to weak immunity and major other health problems. According to the United Nation’s World Population Ageing 2017 report, in 2017, there are 962 million people across the globe aged 60 years or over and the number is expected to reach nearly 2.1 billion by 2050.
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