Global Cardiac Arrhythmia Monitoring Device Market Analysis
Cardiac Arrhythmia Monitoring Device Market is expected to be US$ 11.55 billion by 2032 from US$ 6.21 billion in 2023, with a CAGR of 7.14% during 2024 to 2032.
Cardiac Arrhythmia Monitoring Device Outlooks
A cardiac arrhythmia monitoring device is a device that is used in diagnosing and recording any abnormality in the heartbeat. Equipment including Holter monitor, event monitoring, and implantable loop monitors record the electrical activity of the heart and help identify some of the arrhythmias like the atrial fibrillation, bradycardia, and tachycardia. These devices enable the doctors to detect the dysrhythmias, select the optimal course of action, and favor the patients’ prognosis due to timely actions. Physicians use this data to identify root of the symptoms, decide on the kind of treatment required, evaluate the impact of the intervention methods, and avoid the health risks such as stroke or heart failure.Driving Forces for Cardiac Arrhythmia Monitoring Device
The frequency of cardiac arrhythmia is increasing: The demand for cardiac arrhythmia monitoring devices is on the rise owing to higher incidence of cardiac arrhythmias, longer life expectancy of the global population, and need for advanced monitoring solutions. These tools are very important when it comes to promising diagnosis in the beginning, constant monitoring and timely follow up, hence improving the lot of the patient. According to the American Heart Association, it is expected that in the year 2035, more than 130 million Americans will be dealing with cardiovascular disease and this has led to the increase in the incidents of cardiac arrhythmia. Thus, they are likely to require constant supervision to avoid heart failure in this population as well as deal with other emergent health conditions. Cardiac arrhythmias indicated in the early phases should be recognized quickly for the prevention of the disappointing function of the heart in patients who already have severe cardiovascular diseases. Thus, monitoring of this vulnerable population is central to the practice, and recent advances of sophisticated monitoring systems underscore the imperative nature of this function in cardiovascular care.Rising healthcare spending: The overall advancement in the global investment in healthcare has indeed boosted the growth of the cardiac arrhythmia monitoring tool market. In more developed countries the emphasis is made on constant monitoring due to large stakes in modern medical equipment like cardiac monitoring devices. Higher health care expenditures are used to incorporate new monitoring devices which are needed to enhance patient’s performance as well as to avoid the development of severe genius seizures and other complications in patients with undiagnosed heart rhythms. Also, increased spending gives the workforce a chance to install effective and modern machines, thus growing the quality of services provided to the patients.
Technological Advancements: Monitoring technology has greatly enhanced the diagnostic procedures as well as the management of patients with cardiac arrhythmias. ILRs, for instance, can be implanted and are mobile, as well as wearable monitors that allow for long term consistent tracking and therefore more precise detection of the arrhythmias and faster creation of treatment strategies. The imposition of wireless connectivity in combination with cloud-based platforms has improved patients’ care. Modern cardiac arrhythmia monitoring devices that have longer battery time and higher accuracy of the data analysis algorithm are becoming more and more useful for patients. This has led to the expected growth in the market and contributes to ongoing research and development activities to cater the growing demand of good monitoring solution around the world.
North America Cardiac Arrhythmia Monitoring Device Market
The North American CAMD market has witnessed much growth and especially the USA being the leading market. Cardiovascular diseases continue to increase in frequency, enhanced monitoring devices become more and more available, and the population ages; these factors create a large trend. Being a country with a highly developed health care system and a significantly high health care cost, the USA has a large and significant role in the advancement and growth of the market. They are Holter monitors, event recorders, implantable loop recorders; All are real-time monitoring system in the diagnosis and management of arrhythmia.New products such as wireless monitoring and wearable technology have improved the ease of use and adherence to prescribed treatments hence increasing the market potential for the industry. Also, growing knowledge about early diagnosis and prevention has put pressure on the use of such devices. Static key market players are geared towards innovation that comes with improved efficiency and ease of use of the devices. Last but not the least, USA market also benefits from the supportive regulatory laws and reimbursable medical expenses. The North American market is currently on the rise and will open more potential for growth due to advancement in technology and health care.
Cardiac Arrhythmia Monitoring Device Company Analysis
The major players of Cardiac Arrhythmia Monitoring Device Market are Abbott Laboratories, GE Healthcare, Koninklijke Philips N. V, Medtronic PLC, Asahi Kasei Corporation, Boston Scientific Corporation, iRhythm Technologies, and Nihon Kohden. Such companies focus on developing and supplying professional and high-quality cardiac arrhythmia monitoring equipment for practitioners and individuals.Cardiac Arrhythmia Monitoring Device Company News
In October 2023, Boston Scientific created the LUX-Dx II+ Insertable Cardiac Monitor (ICM) System, a next-generation insertable monitor designed for long-term arrhythmia monitoring associated with conditions such as atrial fibrillation (AF), syncope, and cryptogenic stroke.In July 2022, Xplore Lifestyle introduced a smartwatch with medical-grade functionality for ongoing cardiac health monitoring. This watch - which was developed in partnership with the Israeli company Cardiac Sense - is claimed to be the first wearable medical-grade continuous monitoring device ever. This medical device can differentiate between a normal cardiac rhythm, namely atrial fibrillation (AFib), and an arrhythmia, an abnormal or irregular heartbeat.
In November 2021, Cardiologs, a French medical technology startup that uses AI and cloud computing to diagnose heart problems, agreed to buy Philips. With cutting-edge software, electrocardiogram (ECG) analysis, and reporting services, the acquisition will enhance Philips' cardiac monitoring and diagnostics offering.
In March 2021, iRhythm Technologies Inc., a Leading provider of digital healthcare solutions with an emphasis on improving cardiac care, was granted two new 510(k) clearances: one for enhanced AI capabilities and the other for a new and improved design of its flagship monitor, the new Zio monitor.
Type - Market breakup in 5 viewpoints:
1. ECG monitors2. Implantable monitors
3. Holter monitors
4. Mobile cardiac telematory
5. Others
Application - Market breakup in 5 viewpoints:
1. Tachycardia2. Atrial Tachycardia
3. Ventricular Tachycardia
4. Bradycardia
5. Premature Contraction
End User - Market breakup in 3 viewpoints:
1. Hospitals & Clinics2. Diagnostic Centers
3. Others
Country - Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
6. Rest of the world
All the key players have been covered from 4 Viewpoints:
- Business Overview
- Product Portfolio
- Recent Development & Strategies
- Revenue Analysis
Key Players Analysis:
1. Abott Laboratories2. GE healthcare
3. Koninklijke Philips N.V.
4. Medtronic PLC
5. Asahi Kasei Corporation
6. Boston scientific corporation
7. iRhythm Technologies
8. Nihon kohden
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Cardiac Arrthymia Monitoring Devcice Market
4. Market Dynamics
6. Share Analysis
7. Type
8. Application
9. End User
10. Countries
11. Porter’s Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
Companies Mentioned
- Abott Laboratories
- GE healthcare
- Koninklijke Philips N.V.
- Medtronic PLC
- Asahi Kasei Corporation
- Boston scientific corporation
- iRhythm Technologies
- Nihon kohden
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.21 Billion |
| Forecasted Market Value ( USD | $ 11.55 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
