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

As per the latest report released by Virtue Market Research, the global market for Lead-based Mobile Cardiac Telemetry Systems was valued at USD 2.66 billion in the year 2024. It is anticipated to attain a market size of USD 5.92 billion by the culmination of 2030. Over the forecast period spanning from 2024 to 2030, the market is predicted to exhibit a Compound Annual Growth Rate (CAGR) of 12.1%.

Market Overview:

The increasing incidence of cardiovascular ailments leading to mortality rates has brought attention to the advantages of Mobile Cardiac Telemetry (MCT) devices, thereby propelling market expansion. Moreover, sedentary lifestyles resulting in physical inactivity, coupled with rising instances of tobacco use and obesity, have contributed to an upsurge in morbidity rates related to cardiac disorders. Despite certain drawbacks such as lead failure and telemetry disruptions, lead-based MCTs, being lightweight and user-friendly, remain preferable among many patients, albeit potential hindrances to global market growth in the years ahead.

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

The global outbreak of the SARS-CoV-2 virus, causing COVID-19, has affected millions of individuals worldwide, with profound economic repercussions across various sectors, notably the medical device industry. The pandemic, which began its widespread spread in late 2019, has led to increased demand for AI telehealth services, employing artificial intelligence and deep learning technology for remote access to medical reports. In the initial stages, a combination of hydroxychloroquine and azithromycin showed promising results for patients, albeit with risks of prolonging the QT interval. In such scenarios, lead-based mobile cardiac telemetry systems have been extensively employed to remotely monitor patients, aiming to mitigate the risk of severe hospitalization and associated complications.

Market Drivers:

The escalating prevalence of arrhythmia has surged the demand for lead-based mobile cardiac telemetry systems globally:

These systems play a pivotal role in swiftly detecting arrhythmogenic risks, particularly among outpatient COVID-19 cases. Amid the pandemic's aftermath, hospitals worldwide are grappling with patient overload, underscoring the significance of remote patient monitoring through these devices, thus fueling market growth.

Heightened awareness regarding cardiac disorders in developed nations is propelling the market for lead-based mobile cardiac telemetry systems:

Government initiatives and awareness campaigns by independent health organizations have led to increased public awareness about preventive measures, regular screenings, and health check-ups. Additionally, community-level support programs and counseling sessions have further contributed to the expansion of the lead-based mobile cardiac telemetry market.

Continuous technological advancements and innovation bolster the global market for lead-based mobile cardiac telemetry systems:

The advent of sophisticated devices and technological solutions enhancing patient care is expected to drive market growth. Rapid adoption of lead-based mobile cardiac telemetry systems is attributed to their advantages such as precise dosing, controlled flow, rapid response rates, and enhanced durability and reliability, all contributing to the industry's expansion.

Market Restraints:

The substantial installation costs associated with lead-based mobile cardiac telemetry system devices, along with potential side effects, could impede market growth:

High device costs, particularly concerning therapeutic applications, are anticipated to be a significant impediment to the Lead-based Mobile Cardiac Telemetry Systems Market's growth during the forecast period.

Stringent regulatory frameworks imposed by governments pose challenges to market expansion:

The stringent regulations implemented by various governments present a notable obstacle to the Lead-based Mobile Cardiac Telemetry Systems market's growth trajectory. Additionally, the emergence of alternative solutions by local manufacturers is likely to further restrain market growth rates.

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

• Hospitals
• Cardiac Centres
• Others

The Lead-based Mobile Cardiac Telemetry Systems Market has been categorized into three segments based on end-use: Hospitals, Cardiac Centres, and Others.

The hospitals segment holds a significant position in the global lead-based mobile cardiac telemetry systems market, contributing to over 60.0% of the revenue share in 2022. This growth is primarily driven by the increasing utilization of minimally invasive surgeries within these advanced healthcare facilities. Additionally, the widespread presence and easy accessibility of hospitals make them a preferred choice over other facilities. Moreover, favorable reimbursement policies from governmental and associated authorities are expected to further boost demand in the coming years.

Predictions indicate that the cardiac centres segment will experience the most rapid growth over the forecast period. This expansion can be largely attributed to the rising number of cardiac centres and the ready availability of skilled surgeons within these facilities. Ambulatory surgical centres are also projected to gain traction during this period due to the rising demand for outpatient services globally. Additionally, factors such as cost-effective treatment options and shorter patient stay durations are fueling the growth of this segment.

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

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

The Lead-based Mobile Cardiac Telemetry Systems Market has been divided into five major regions: North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.

North America holds a dominant position in the lead-based mobile cardiac telemetry system market, capturing a significant revenue share of approximately 37.0% in 2022. This growth can be attributed to several factors such as the increasing elderly population, rising incidence of cardiac disorders, and the growth in healthcare expenditure. Furthermore, the presence of key service providers offering improved healthcare services is expected to propel market growth globally during the forecast period.

In the Asia Pacific region, the market for lead-based mobile cardiac telemetry systems is expected to witness a promising CAGR of around 13.5% over the forecast period. Factors such as poor dietary habits and the adoption of sedentary lifestyles leading to physical inactivity are contributing significantly to the increased prevalence of cardiovascular morbidities in the region. Moreover, the establishment of manufacturing hubs by various multinational companies due to lower production costs and the availability of skilled labor is further driving 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 characterized by high fragmentation and intense competition, with major players actively engaged in research and development as well as continuous technological innovation.

Recent Industry Developments:

In September 2019, iRhythm Technologies, Inc. announced a collaboration with Verily Life Sciences to integrate iRhythm’s AI-based mobile cardiac telemetry system with Verily’s data analytical technology for screening, monitoring, and diagnosing atrial fibrillation among patients.