Global Cardiac Arrhythmia Monitoring Devices Market is expected to grow at a CAGR of 7% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Cardiac Arrhythmia Monitoring Devices Market by Devices (Event Recorder, Mobile Cardiac Telemetry, Holter Monitor, Electrocardiogram Monitor, Implantable Cardiac Monitor, Others), Application (Atrial Tachycardia, Tachycardia, Bradycardia, Ventricular Tachycardia, Premature Contractions, Others), End-User (Diagnostics Centers, Hospitals and Clinics, Homecare Settings, Ambulatory Surgical Centers, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global cardiac arrhythmia monitoring devices market is expected to grow from USD 5.7 billion in 2019 to USD 9.79 billion by 2027, at a CAGR of 7% during the forecast period 2020-2027. North America holds the largest market share, owing to the presence of strong players, good reimbursement policy, and a rapidly ageing population. The market in Europe is expected to witness significant growth, owing to increasing demand for telehealth products, growing healthcare spending leading to the adoption of recent technologies, and rising government funding in science and technology.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the notable players in the market are Medtronic PLC, Koninklijke Phillips N.V., Biotronik, GE Healthcare, iRhythm Technologies, and Biotelemetry Inc. In May 2019, AliverCor received approval from US FDA for KardiaMobile 6L, the first six-lead personal ECG device that uses a form factor to gather maximum information. This helped in expanding the company’s wireless devices market product portfolio.
The devices segment includes event recorder, mobile cardiac telemetry, holter monitor, electrocardiogram monitor, implantable cardiac monitor, and others. The holter monitor segment holds the largest share, owing to the introduction of wireless wearable technology in cardiac holter monitoring. Technological advancements have resulted in high accuracy and efficiency in arrhythmia detection. The application segment includes atrial tachycardia, tachycardia, bradycardia, ventricular tachycardia, premature contractions, and others. The tachycardia segment holds the largest share, owing to increasing disease prevalence and increasing use of ECG in tachycardia diagnosis. Based on end-user, the market is segmented into diagnostics centers, hospitals and clinics, homecare settings, ambulatory surgical centers, and others. Hospitals and clinics segment holds the largest share, owing to the rising prevalence of cardiac rhythm disorders and an increase in the number of emergencies requiring continuous cardiac rhythm monitoring.
The factors driving the market are increasing adoption of mobile and telemetry cardiac monitors, growing prevalence of cardiovascular diseases and expenditure on cardiac health, expanding geriatric population, and technologically advancements and introduction of innovative devices for cardiac rhythm monitoring. Lack of skilled professionals and negative effects of some cardiac monitoring devices on patients restrains the market growth. Alternatives for traditional holter monitor will provide market growth opportunities.
About the report:
The global cardiac arrhythmia monitoring devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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