US Mobile Cardiac Telemetry Devices Market: Current Analysis and Forecast (2021-2027)

Report Description

US Mobile Cardiac Telemetry Devices Market was valued at US$ 200 million in 2020. Mobile Cardiac Telemetry (MCT) technology allows the monitoring of the patient over 24 hours due to its compact design. Heart disease is one of the leading causes of death globally. More than 46% of US adults are estimated to suffer from hypertension. The rising worldwide demand for United States Mobile Cardiac Telemetry Devices systems is because of the increasing prevalence of cardiovascular disorders, associated mortality has increased awareness about the benefits, and upsurge in venture capital investments. For instance, the medical technology venture capital investment all over the world was valued at 5.7 billion U.S. dollars in 2019 which rose to 6.3 billion U.S. dollars in 2020. In addition to this, the largest increase in the MedTech venture capital investment was seen during the years 2016 and 2017.

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The growing prevalence of heart valve disease coupled with the rising geriatric population is another factor contributing to the growth of the United States Mobile Cardiac Telemetry Devices systems market. For instance, according to the United Nations, in 2019, 13.2% of the worldwide population was aged 60 years or above. Further, it is anticipated that nearly 21.4% of the total worldwide population will be aged 60 years or over by 2050. Given these facts, there is an increase in the number of people who are not suitable for open-heart surgeries. As a result, there is an increase in the adoption of minimally invasive surgical procedures such as United States Mobile Cardiac Telemetry Devices procedures augmenting the growth of the United States Mobile Cardiac Telemetry Devices market globally.

Heart Health in the United States, 2021

BioTelemetry Inc., Biotricity, Comarch, Hill-Rom Holdings Inc, Infobionic, Koninklijke Philips N.V., Medicalgorithmics, Medicomp, and Preventice Solution are some of the prominent players operating in the United States Mobile Cardiac Telemetry Devices market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst technology, Lead-Based segment holds the major share”

Based on the technology, the market is fragmented lead-based, and patch-based. The lead-based segment dominated the market with a share of XX% in 2020 and is expected to grow at the highest CAGR during the forecast period owing to the continuous advancements and user-friendly function. However, patch-based devices are anticipated to grow by the highest CAGR.

“Amongst end-user, hospitals acquired largest market”

Further, based on end-user, the market is hospitals, ambulatory surgical centers, and home settings. In 2020, hospitals accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period.

“North-East US signifies one of the largest markets of US Mobile Cardiac Telemetry Devices Market”

For a better understanding of the market adoption of United States Mobile Cardiac Telemetry Devices procedures, the market is analyzed based on its worldwide presence in the countries such as Mid-West United States, South United States, North-East United States, and West United States. North-East United States dominated the market and generated revenue of USD XX million in 2020 government support for advanced research and increasing awareness regarding the benefits offered by mobile cardiac telemetry devices, which is fueling market expansion.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

Customization Options:

US Mobile Cardiac Telemetry Devices Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the United States Mobile Cardiac Telemetry Devices Market were the three major steps undertaken to create and analyze the adoption of Mobile Cardiac Telemetry Devices for the different diseases across major regions of United States. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Mobile Cardiac Telemetry Devices sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the US Mobile Cardiac Telemetry Devices through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the US Mobile Cardiac Telemetry Devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are technology and end-user. Further country-level analyses were conducted to evaluate the overall adoption of US Mobile Cardiac Telemetry Devices in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of US Mobile Cardiac Telemetry Devices. Further, we conducted factor analysis using dependent and independent variables such as increasing cardiovascular disease incidences and the growing geriatric population. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the US Mobile Cardiac Telemetry Devices industry across the region.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the US Mobile Cardiac Telemetry Devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets across the United States. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (USD) and the adoption rate of US Mobile Cardiac Telemetry Devices across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the US Mobile Cardiac Telemetry Devices market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the US Mobile Cardiac Telemetry Devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and application end-user of the US Mobile Cardiac Telemetry Devices market.

Main Objective of the US Mobile Cardiac Telemetry Devices Market Study

The current & future market trends of US Mobile Cardiac Telemetry Devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of US Mobile Cardiac Telemetry Devices in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of application and technology
• Define and analysis of the regulatory framework for the US Mobile Cardiac Telemetry Devices industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the US Mobile Cardiac Telemetry Devices market for the major region
• Major regions studied in the report include Mid-West United States, South United States, North-East United States, and West United States
• Company profiles of the US Mobile Cardiac Telemetry Devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry