The global cardiac arrhythmia monitoring devices market size was estimated to be USD 7.82 billion in 2023 and is expected to reach at USD 18.10 billion by 2034 with a CAGR of 7.93% during the forecast period 2024-2034. Growing adoption of telecardiology, ease of use & portability of cardiac arrhythmia monitoring devices, rising focus on development of smart cardiac monitors, increasing launch of telecardiology services, surge in mergers & acquisitions within market players, growing launch of advanced monitoring devices, and rising regulatory approvals of advanced systems are some of the key factors boosting the market growth.
Rising regulatory approvals of advanced systems is predicted to grow at fastest CAGR during the forecast period. Cardiac monitors offer physicians electrocardiogram (ECG) data that can either confirm or eliminate the possibility of an arrhythmia. The symptoms reported by the patient should enable the physician to determine the most appropriate cardiac monitoring method to optimize the chances of a successful diagnosis. Various types of devices are employed for the remote evaluation of cardiac rhythm irregularities in ambulatory patients. For instance, in May 2023, BIOTRONIK has revealed that its latest innovation, the BIOMONITOR IV implantable cardiac monitor (ICM), has received approval from the U.S. Food and Drug Administration (FDA). This device, equipped with BIOTRONIK's advanced SmartECG algorithm driven by artificial intelligence (AI), is set to be introduced for the enhancement of cardiac monitoring standards. Its debut is scheduled to take place at the 2023 Heart Rhythm Society Congress in New Orleans.
By devices, holter monitoring devices was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the rising usage in diagnosing sporadic symptoms among patients for longer durations, surge in number of people suffering from arrhythmias, increasing launch of advancements cardiac arrhythmia monitoring devices. For instance, in February 2023, Medtronic PLC has unveiled clinical data indicating that LINQ can identify atrial fibrillation in patients who have experienced ischemic shocks at a rate ten times higher than before. Additionally, continuous rhythm monitoring devices is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of chronic diseases and increasing demand for continuous monitoring devices.
By application, tachycardia was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the surge in demand for monitoring devices such as ECG devices, holter monitors, & other portable monitors, rising prevalence of atrial tachycardia, and growing approvals by regulatory bodies. For instance, in May 2023, Abbott has reported that its Assert-IQ™ insertable cardiac monitor (ICM) has obtained clearance from the U.S. Food and Drug Administration (FDA). This clearance provides physicians with a fresh choice for diagnosing and conducting extended monitoring of individuals with irregular heart rhythms. Additionally, bradycardia is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiac disorders, and growing technological advancements.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the growing prevalence of cardiac Arrhythmia, rising geriatric population, and surge in number of hospital admissions. Additionally, homecare settings is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of technologically advanced devices, rising introduction of advanced devices, and growing collaborations within market players. For instance, in March 2022, GE Healthcare has revealed a collaboration with AliveCor, which will enable patients using the AliveCor KardiaMobile 6L ECG device for ECG monitoring in home care settings to seamlessly incorporate their data into the E Healthcare MUSE Cardiac Management System. This integration will enhance physicians' ability to efficiently diagnose the condition.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in adoption of advanced cardiovascular solutions, rising healthcare infrastructure, growing demand for cardiac arrhythmia monitoring devices, and increasing approvals by regulatory bodies. For instance, in January 2022, Biotricity's Biotres Cardiac Monitoring Device has received 510(k) clearance from the US FDA for ECG and arrhythmia monitoring. This device offers a wearable Holter patch that ensures continuous recording of ECG data across three channels. This move has led to the broadening of the company's product range for wireless devices within the US market. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising development of technologies including portable & mobile monitoring systems, expanding availability of wearable, and rising launch of wearable cardiac monitoring devices. For instance, in July 2022, Xplore Lifestyle has partnered with an Israeli company to introduce CardiacSense, highly advanced cardiac and vital signs monitoring technology through a user-friendly wearable watch.
Rising regulatory approvals of advanced systems is predicted to grow at fastest CAGR during the forecast period. Cardiac monitors offer physicians electrocardiogram (ECG) data that can either confirm or eliminate the possibility of an arrhythmia. The symptoms reported by the patient should enable the physician to determine the most appropriate cardiac monitoring method to optimize the chances of a successful diagnosis. Various types of devices are employed for the remote evaluation of cardiac rhythm irregularities in ambulatory patients. For instance, in May 2023, BIOTRONIK has revealed that its latest innovation, the BIOMONITOR IV implantable cardiac monitor (ICM), has received approval from the U.S. Food and Drug Administration (FDA). This device, equipped with BIOTRONIK's advanced SmartECG algorithm driven by artificial intelligence (AI), is set to be introduced for the enhancement of cardiac monitoring standards. Its debut is scheduled to take place at the 2023 Heart Rhythm Society Congress in New Orleans.
By devices, holter monitoring devices was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the rising usage in diagnosing sporadic symptoms among patients for longer durations, surge in number of people suffering from arrhythmias, increasing launch of advancements cardiac arrhythmia monitoring devices. For instance, in February 2023, Medtronic PLC has unveiled clinical data indicating that LINQ can identify atrial fibrillation in patients who have experienced ischemic shocks at a rate ten times higher than before. Additionally, continuous rhythm monitoring devices is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of chronic diseases and increasing demand for continuous monitoring devices.
By application, tachycardia was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the surge in demand for monitoring devices such as ECG devices, holter monitors, & other portable monitors, rising prevalence of atrial tachycardia, and growing approvals by regulatory bodies. For instance, in May 2023, Abbott has reported that its Assert-IQ™ insertable cardiac monitor (ICM) has obtained clearance from the U.S. Food and Drug Administration (FDA). This clearance provides physicians with a fresh choice for diagnosing and conducting extended monitoring of individuals with irregular heart rhythms. Additionally, bradycardia is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cardiac disorders, and growing technological advancements.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global cardiac arrhythmia monitoring devices market in 2023 owing to the growing prevalence of cardiac Arrhythmia, rising geriatric population, and surge in number of hospital admissions. Additionally, homecare settings is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of technologically advanced devices, rising introduction of advanced devices, and growing collaborations within market players. For instance, in March 2022, GE Healthcare has revealed a collaboration with AliveCor, which will enable patients using the AliveCor KardiaMobile 6L ECG device for ECG monitoring in home care settings to seamlessly incorporate their data into the E Healthcare MUSE Cardiac Management System. This integration will enhance physicians' ability to efficiently diagnose the condition.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in adoption of advanced cardiovascular solutions, rising healthcare infrastructure, growing demand for cardiac arrhythmia monitoring devices, and increasing approvals by regulatory bodies. For instance, in January 2022, Biotricity's Biotres Cardiac Monitoring Device has received 510(k) clearance from the US FDA for ECG and arrhythmia monitoring. This device offers a wearable Holter patch that ensures continuous recording of ECG data across three channels. This move has led to the broadening of the company's product range for wireless devices within the US market. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising development of technologies including portable & mobile monitoring systems, expanding availability of wearable, and rising launch of wearable cardiac monitoring devices. For instance, in July 2022, Xplore Lifestyle has partnered with an Israeli company to introduce CardiacSense, highly advanced cardiac and vital signs monitoring technology through a user-friendly wearable watch.
Segmentation: Cardiac Arrhythmia Monitoring Devices Market Report 2022 - 2033
Cardiac Arrhythmia Monitoring Devices Market Analysis & Forecast by Devices 2023 - 2034 (Revenue USD Bn)
- Continuous Rhythm Monitoring Devices
- Holter Monitoring Devices
- Event Monitoring Devices
- Other
Cardiac Arrhythmia Monitoring Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Tachycardia
- Bradycardia
- Premature Contraction
- Others
Cardiac Arrhythmia Monitoring Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Clinics
- Homecare Settings
- Ambulatory Surgical Centres
- Diagnostics Centre
- Others
Cardiac Arrhythmia Monitoring Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cardiac Arrythmia Monitoring Devices Market: Devices Estimates & Trend Analysis
8. Cardiac Arrythmia Monitoring Devices Market: Application Estimates & Trend Analysis
9. Cardiac Arrythmia Monitoring Devices Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Cardiac Arrythmia Monitoring Devices Market
12. Europe Global Cardiac Arrythmia Monitoring Devices Market
13. Asia Pacific Global Cardiac Arrythmia Monitoring Devices Market
14. Latin America Global Cardiac Arrythmia Monitoring Devices Market
15. MEA Global Cardiac Arrythmia Monitoring Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medi-Lynx
- Fukuda Denshi
- Biotronik
- AliveCor Inc.
- Medtronic PLC
- ACSDiagnostics
- Welch Allyn
- GE Healthcare
- Abbott Laboratories
- Koninklijke Philips NV
- Spacelabs Healthcare Inc.
- iRhythm Technologies Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 7.82 Billion |
| Forecasted Market Value ( USD | $ 18.1 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
