Arrhythmia Monitoring Devices Global Market Report 2024

Arrhythmia monitoring devices play a crucial role in identifying and determining the type and cause of abnormal heart rhythms. These devices are utilized for tracking and monitoring irregular heart rhythms associated with arrhythmia, a heart condition that disrupts the pace or rhythm of the heartbeat.

The primary types of arrhythmia monitoring devices include ECG (Electrocardiogram), implantable monitors, holter monitors, and mobile cardiac telemetry. ECG is particularly effective in detecting electrical impulses generated by the heart, providing valuable insights for diagnosing various cardiac issues. Arrhythmia monitoring devices find applications in diverse cardiac conditions, including bradycardia, tachycardia, atrial fibrillation, ventricular fibrillation, premature contraction, and other related applications. These devices cater to various end-users, including hospitals and diagnostic centers, ambulatory centers, and other healthcare facilities, playing a crucial role in monitoring and managing heart-related conditions.

The arrhythmia monitoring devices market research report is one of a series of new reports that provides arrhythmia monitoring devices market statistics, including arrhythmia monitoring devices industry global market size, regional shares, competitors with an arrhythmia monitoring devices market share, detailed arrhythmia monitoring devices market segments, market trends and opportunities, and any further data you may need to thrive in the arrhythmia monitoring devices industry. This arrhythmia monitoring devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The arrhythmia monitoring devices market size has grown rapidly in recent years. It will grow from $6.98 billion in 2023 to $7.7 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The increase in the historic period can be attributed to factors such as the aging population, growth in healthcare infrastructure, the rise of personalized medicine, increased adoption of home healthcare, and augmented funding in the healthcare sector.

The arrhythmia monitoring devices market size is expected to see strong growth in the next few years. It will grow to $11.08 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be attributed to factors such as the increasing prevalence of cardiovascular diseases, the growth of telemedicine, regulatory approvals, a rise in remote patient monitoring, and overall economic growth. Key trends expected in this period involve advancements in wearable technology, the utilization of artificial intelligence and machine learning, the adoption of patient-centric solutions, integration with the Internet of Things (IoT), and a focus on preventive healthcare and health tracking.

The growth of the arrhythmia monitoring devices market is being fueled by the increasing incidence of cardiovascular diseases. These diseases, which affect the heart and blood vessels, require monitoring devices to detect irregular heart rates, a primary symptom in most cases. In August 2022, the American College of Cardiology forecasted a significant increase in cardiovascular risk factors and disease rates in the United States by 2060, with heart failure anticipated to rise by 33.4% and ischemic heart disease by 30.7%. This uptrend in cardiovascular diseases is expected to drive the demand for arrhythmia monitoring devices.

The market is set to be influenced by the aging population, leading to increased demand for arrhythmia monitoring devices. The elderly often face irregular heart rhythms such as atrial fibrillation, making monitoring devices crucial for early detection and management. Reports by the World Health Organization in October 2022 projected that by 2030, 1 in 6 people worldwide will be aged 60 years or over. The global population of people aged 60 years and older is predicted to double by 2050 to reach 2.1 billion, and individuals aged 80 years or older will triple to 426 million by 2050. This demographic shift will significantly boost the need for arrhythmia monitoring devices.

A significant trend shaping the market is technological advancements. Key companies in this sector are introducing novel technologies such as AI and enhanced detection methods to improve accuracy and efficiently manage patient data. For instance, in January 2021, SmartCardia SA launched a cloud-based AI platform and patch for real-time patient monitoring, integrating medical wearable technology with AI. The AI platform is capable of real-time detection of significant arrhythmia episodes with cardiologist-level accuracy, leveraging ECG segments labeled by qualified cardiac technicians. The accessibility of real-time data on a secure cloud enables clinicians and hospital personnel to take swift action based on the monitored data.

The arrhythmia monitoring devices market is witnessing innovation from major companies, introducing wearable and mobile products like medical-grade smartwatches to enhance their market position. A notable example is the medical-grade smartwatch - a continuous monitoring device in the form of a watch, launched through a collaboration between Xplore Lifestyle Solutions Pvt. Ltd., an India-based wellness solutions company, and Cardiac Sense, an Israel-based wearable technology provider. This groundbreaking smartwatch is the world’s first continuous monitoring device capable of distinguishing between normal and abnormal/irregular heart rhythms. Its objective is to increase awareness among individuals regarding silent and life-threatening arrhythmias, such as Atrial Fibrillation and other chronic illnesses.

In January 2021, Boston Scientific, a prominent US-based medical device company, completed the acquisition of Preventice Solutions Inc. for a deal valued at $1.22 billion. This strategic acquisition positions Boston Scientific advantageously in the rapidly growing ambulatory electrocardiography market. It complements their recent entry into the implantable cardiac monitor market and aligns with their broader strategy in the field of cardiac diagnostics and services. Preventice Solutions Inc. is a US-based provider of mobile health and remote monitoring solutions, offering a range of cardiac health services, including ambulatory cardiac monitors, short and long-term Holter monitors, cardiac event monitors, and mobile cardiac telemetry.

Major companies operating in the arrhythmia monitoring devices market include Abbott Laboratories, Medtronic PLC, Biotronik Inc., Hill-Rom Services Inc., iRhythm Technologies Inc., GE HealthCare Technologies Inc., Koninklijke Philips NV, ACS Diagnostics Inc., AliveCor Inc., Medi-Lynx Cardiac Monitoring LLC, Welch Allyn Inc., Spacelabs Healthcare Inc., Fukuda Denshi Co. Ltd., Applied Cardiac Systems Inc., BIOTRONIK SE & Co. KG, Hill-Rom Holdings Inc., Nihon Kohden Corporation, CardioNet LLC, Bardy Diagnostics Inc., BioTelemetry Inc., Boston Scientific Corporation, CardioComm Solutions Inc., Cardiac Insight Inc., Cardiac Science Corporation, Johnson & Johnson, Preventice Solutions Inc., Qardio Inc., ZOLL Medical Corporation, Stryker Corporation, Drägerwerk AG & Co. KGaA, Mindray Medical International Limited, Cardinal Health Inc., Physio-Control Corporation

North America was the largest region in the arrhythmia monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the arrhythmia monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the arrhythmia monitoring devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The arrhythmia monitoring devices market consists of sales of cardiac event monitors, loop memory monitor, patch recorder, and symptom event monitor. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.