UNITED STATES MOBILE CARDIAC TELEMETRY DEVICES MARKET IS EXPECTED TO FORESEE SIGNIFICANT GROWTH DURING THE FORECAST PERIOD. NORTH AMERICA TO WITNESS THE HIGHEST GROWTH
United States Mobile Cardiac Telemetry Devices Market is expected to reach the market valuation of USD XX billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX billion 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.
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The rising prevalence of cardiovascular disorders is one of the reasons driving the Mobile Cardiac Telemetry Devices market. Another factor driving the growth of the United States Mobile Cardiac Telemetry Devices systems market is the rising prevalence of heart valve disease along with the growing geriatric population. For instance, according to the United Nations, in 2019, 13.2% of the worldwide population was aged 60 years or above.
The COVID19 has resulted in a profound re-evaluation of the advantages and costs of cardiovascular care. The pandemic has been a devastating disease worldwide. COVID-19 affected 185 countries and >3000000 patients worldwide in 2020. Despite of the disruption in the supply chain, the COVID-19 outbreak has boosted the demand for Mobile Cardiac Telemetry Devices as the among patients with COVID-19, there is a high prevalence of cardiovascular disease, and >7% of patients experience myocardial injury from the infection (22% of severely ill patients). CVD has been more prevalent in patients with advancing age, a functionally impaired immune system, or elevated levels of ACE2, and patients with CVD having a predisposition to COVID-19.
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Furthermore, the United States was the country with the highest number of confirmed cases and deaths due COVID-19. As per Statista, there were around 34 million cases of COVID-19 infection in the United States as of 13th July 2021. Following reasons has surged the demand for mobile cardiac telemetry devices in the region.
Based on technology, the market is fragmented into lead-based and patch-based. The lead-based segment dominated the market in 2020 and generated the total revenue of USD XX billion. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. However, the patch-based devices are anticipated to grow by the highest CAGR.
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The various end-user wherein Mobile Cardiac Telemetry Devices is utilized includes hospitals, ambulatory surgical Centres, and home settings. In 2020, hospitals segment accounted for a maximum market revenue share of XX% and is expected to remain dominant during the analyzed period owing to the increased number of CVD cases in the United States. In 2018, 30.3 million people in the United States were diagnosed with heart disease. Heart disease is the leading cause of death in the United States, with 647,000 deaths each year.
Additionally, the report provides detailed initiatives that are being taken in the field of Mobile Cardiac Telemetry Devices. The market is classified into distinct regions Mid-West United States, South United States, North-East United States, and West United States has been conducted. North-East United States dominated the market and generated revenue of USD XX billion in 2020 owing to the important competitors, and high healthcare expenditure.
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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&A’s along with partnerships have been undertaken by these players to develop Mobile Cardiac Telemetry Devices.
United States Mobile Cardiac Telemetry Devices Market Segmentation
Market Insight, by Technology
Market Insight, by End-User
- Ambulatory Surgical Centers
- Home settings
Market Insight, by Region
- Mid-West United States
- South United States
- North-East United States
- West United States
Top Company Profiles
- BioTelemetry Inc.
- Hill-Rom Holdings Inc
- Koninklijke Philips N.V.
- Preventice Solution