Remote Cardiac Monitoring Market Report 2024

The remote cardiac monitoring market size has grown exponentially in recent years. It will grow from $5.08 billion in 2023 to $6.21 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth observed in the historical period can be attributed to several factors, the rising prevalence of cardiovascular diseases worldwide, an increase in the global elderly population, favorable regulatory approvals for healthcare technologies, growing awareness about preventive healthcare measures, and substantial investment and funding directed towards health-tech startups.

The remote cardiac monitoring market size is expected to see exponential growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. The anticipated growth in the forecast period can be attributed to several key factors, expanding healthcare infrastructure, heightened awareness in emerging economies, the continued growth of telehealth services, increasing consumer adoption of wearable health technologies, and efforts to reduce healthcare costs by minimizing hospital readmissions. Major trends expected in this period include the seamless integration of AI and machine learning algorithms with telehealth platforms, enhancements in data security and privacy measures, the development of personalized monitoring solutions, greater utilization of cloud-based platforms for data storage and analytics, and ongoing technological advancements in remote healthcare technologies.

The remote cardiac monitoring market is set to grow significantly due to the increasing prevalence of cardiovascular diseases. These conditions, which encompass a range of heart and blood vessel disorders such as coronary artery disease, heart failure, arrhythmias, and hypertension, are on the rise due to factors such as unhealthy diets, sedentary lifestyles, obesity, diabetes, and aging populations. Remote cardiac monitoring plays a crucial role in continuous, real-time tracking of heart health, enabling early detection, timely intervention, and improved disease management. For example, a report from the American College of Cardiology projected substantial increases in cardiovascular risk factors in the US by 2060, highlighting the growing need for such monitoring solutions.

Leading companies in the remote cardiac monitoring sector are focusing on advanced technological solutions to enhance the accuracy and convenience of cardiac health monitoring. This includes innovations such as ultrasound systems, which are vital for ultrasound imaging in medical diagnostics. For instance, Royal Philips launched the Ultrasound Compact System 5000 Series in December 2022. This system offers high-quality diagnostic imaging, portability, compatibility with various transducers, and features Collaboration Live telemedicine software for real-time remote consultations. It emphasizes both performance and flexibility, supporting enhanced diagnostic capabilities in various settings.

In September 2022, PrepMD RMS LLC, a US-based provider of remote monitoring solutions, acquired LindaCare Inc. This strategic move expands PrepMD RMS's portfolio of remote cardiac monitoring technologies and software solutions. LindaCare Inc., based in Belgium, specializes in medical software development for remote cardiac monitoring, enhancing PrepMD's capability to deliver comprehensive cardiac clinical solutions to healthcare providers worldwide.

Major companies operating in the remote cardiac monitoring market are Abbott Laboratories, Honeywell International Inc., Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, ZOLL Medical Corporation, Boston Scientific Corporation, Hill-Rom Holdings Inc., Masimo Corporation, Biotronik SE, Nihon Kohden Corporation, OSI Systems Inc., Irhythm Technologies Inc., BioTelemetry Inc., Spacelabs Healthcare Inc., AMC Health, Huma Limited, Alivecor Inc., Contec Medical Systems Co. Ltd., InfoBionic Inc., Bardy Diagnostics Inc., ChroniSense Medical Ltd., Ejenta Inc., Cardiomo Care Inc., Vitls Inc.

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

The countries covered in the remote cardiac monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Remote cardiac monitoring utilizes technology to continuously track a patient's heart activity from a distance, typically through wearable devices or implanted monitors. These devices transmit real-time data on heart rhythms and other vital signs to healthcare providers for analysis and prompt intervention. The goal of remote cardiac monitoring is to deliver ongoing and precise cardiac care, facilitating early detection of arrhythmias, heart attacks, and other cardiovascular issues. This approach aims to enhance patient outcomes and reduce the necessity for frequent in-person visits.

The primary components of remote cardiac monitoring include devices, software, and associated services. Remote cardiac monitoring devices encompass wearable or implantable technologies that monitor and transmit real-time heart activity data to healthcare providers, enabling continuous remote monitoring and management of cardiac health. These devices are employed in monitoring conditions such as bradycardia, tachycardia, atrial and ventricular fibrillation, among others. End users of remote cardiac monitoring include hospitals, clinics, emergency settings, homecare environments, and other healthcare facilities.

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

The remote cardiac monitoring market consists of revenues earned by entities by providing services such as continuous ECG monitoring, mobile cardiac telemetry, holter monitoring, and wearable device integration. The market value includes the value of related goods sold by the service provider or included within the service offering. The Information technology market also includes sales of implantable loop recorders, remote pacemaker and ICD monitors, cardiac event recorders and related services. 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.


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