GE HealthCare (US) and Koninklijke Philips N.V. (Netherlands) are Leading Players in the Holter ECG Market
The global Holter ECG market is projected to reach USD 558 million by 2027 from USD 416 million in 2022, at a CAGR of 6.1% during the forecast period. Factors such as the increasing number of patients suffering from cardiovascular disease (CVD) and the need for early diagnosis are driving the growth of this market.
The Holter ECG market is highly consolidated and is dominated by various players. The major players operating in this market are GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Nihon Kohden Corporation (Japan), OSI Systems, Inc. (US), and Hill-Rom Holdings, Inc. (Baxter International Inc.) (US). These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the Holter ECG market.
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GE HEALTHCARE (US)
GE HealthCare accounted for a major share of the Holter ECG market in 2021. GE is a major player in this market due to its vast product portfolio. GE has a global distribution partner network in more than 140 countries and provides expertise and services to customers in nearly every corner of the globe. The company adopts inorganic growth strategies to increase its market share. For instance, in 2021, GE HealthCare and the American College of Cardiology (ACC) partnered to build a roadmap for AI in cardiac care and develop new strategies for improved health outcomes. The company intends to partner with new businesses to complement its existing business segments. Such developments enable the company to add innovative technologies and products to its portfolio, which, in turn, will strengthen its presence in the market.
KONINKLIJKE PHILIPS N.V. (NETHERLANDS)
Koninklijke Philips N.V. focuses on innovation to maintain its market share and significantly invests in R&D activities for this purpose. This investment is used to develop new and innovative products. The company’s position in this market can also be attributed to its strong sales and distribution network across the globe, enabling it to market its products in various countries effectively. The company works in partnership with third parties to offer integrated solutions. Philips is active in over 100 countries, including the US, China, India, Japan, France, Canada, and South Africa. The company has over 93 manufacturing facilities in 25 countries, including the Netherlands, Germany, the US, China, Finland, Israel, and Brazil.
NIHON KOHDEN CORPORATION (JAPAN)
Nihon Kohden focuses on expanding its geographic presence by acquiring major companies. The company adopts expansions and product launches as a dominant strategy to increase its growth in Japan as well as international markets. Nihon Kohden has a wide presence across many countries, including the US, Canada, Mexico, Brazil, Colombia, Japan, France, Germany, and Italy. The company operates its global businesses through its key sales subsidiaries.
Related Reports:
Holter ECG Market by Product (Wired Holter ECG, Wireless Holter ECG, Software), Lead Type (Patch Type 1-Lead, 3-Lead, 6-Lead, 12-Lead), EndUser (Hospitals and Specialty Clinics, Ambulatory Surgical Centers), & Region - Global Forecast to 2027
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