Cardiac Monitoring Devices Market Analysis & Forecast 2024-2030

Global Cardiac Monitoring Devices Market is expected to reach USD 36452.85 million by 2030 with CAGR of 5.7% between 2024 and 2030

Overview

Cardiac Monitoring Devices are generally used in emergency rooms and ICU’s cardiac monitoring helps in continuous observation of patients and allows for quick identification of changes in heart rhythm to quickly start treatment for any medical ailment. Cardiac monitoring has become a very important tool for patients with arrhythmia, myocardial infarction, and heart disease. It is also useful for observation of postoperative patients, patients at risk of electrolyte imbalances, and other patients with a high risk of arrhythmia. The growing prevalence of cardiac diseases, rise in a sedentary lifestyle, and increasing obese population are some major drivers for the growth of the Global Cardiac Monitoring Devices Market.  

According to WHO (World Health Organization), cardiovascular diseases are the number 1 cause of death worldwide. Around 17.9 million people died from cardiovascular diseases in 2016, representing 31% of all global deaths. However, a lack of experienced healthcare professionals with knowledge of cardiac rhythm management devices and high costs might hamper the growth of the market. Technological advancements in accuracy, speed of monitoring, and integration of m-health solutions are expected to offer several opportunities for the market in the forecast period.  

 

Product types & Competitive analysis

Based on product types segment, Cardiac Monitoring Devices Market is segmented into ECG devices, implantable loop recorders, cardiac output monitoring, event monitors, defibrillators, pacemakers, and cardiac resynchronization therapy (CRT) devices. By product types, the ECG Devices segment is expected to account for the largest revenue share in the year 2022. The growth in the segment was due to the rising number of cardiovascular diseases such as coronary heart disease, congenital heart disease, improving medical infrastructure, and heart disease-related deaths in developing economies.  

According to World Health Organization worldwide around 75% of deaths associated with cardiovascular diseases take place in low- and middle-income countries. The Event Monitors segment is projected to experience the fastest growth and captures significant market share during the forecast period 2023-2029. Competitive analysis included in the research study helps the user to understand key players market positioning and marketing strategies. Companies are manufacturing products with developments in speed, the accuracy of results, design, and new features such as remote patient monitoring, m-Health, and telehealth applications.  

For instance, in October 2020 Medtronic launched the world’s first pacemaker that can connect directly with patients’ smartphones and tablets. The Azure pacemaker with BlueSync technology allows secure wireless communication via Bluetooth Low Energy and remote monitoring via the Medtronic CareLink Network, providing accurate alerts to the patient that can be checked by a healthcare professional at any time. Many companies are offering smaller, easy-to-use devices with lesser electrodes and wires which provide superior care. These cardiac monitoring devices offer greater flexibility, superior displays, and innovative software.  

 

Application & Regional analysis

Based on applications the market is divided into hospitals, ambulatory care & others. Hospitals play a very important part in monitoring cardiac health. Patients suffering from heart disease require continuous monitoring and care in emergencies and frequently need hospital stays. Hospitals have all the essential infrastructure, equipment, and supplies to provide proper care to the patient suffering from heart disease which is driving the growth of this segment. Home and ambulatory care were the fastest-growing application segments are projected to grow at the highest CAGR in the Market during 2023-2029.  

 

The regional outlook of the research study is based on an analysis of the market in North America, Europe, Asia Pacific, Middle East, South America, Africa & Rest of the World. North America dominated the Global Cardiac Monitoring Devices Market and accounted for a major share of the global revenue in 2022. The region has a higher incidence rate of chronic heart diseases; an advanced healthcare system, better diagnostic facilities, and faster adoption of new technologies which is expected to lift the growth of the cardiac monitoring devices market in the near future. Chronic heart diseases are responsible for the majority of death and disability in the United States. According to CDC America (Centers for Disease Control and Prevention), Heart diseases are the major cause of death for both men and women in the United States around 655,000 Americans die from heart-related disease every year which is 1 in every 4 deaths. The United States is the leading country in terms of revenue generation in North America.  

The Asia Pacific is expected to witness the fastest growth in the forecast period 2023-2029 owing to rapid development in healthcare infrastructure, increasing burden of heart diseases, growing geriatric population, and a substantial increase in the disposable income in the Asia Pacific region. According to WHO (World Health Organization) population in South-East Asia is ageing at a faster rate. The percentage of people aged 60 or above was 9.8% in 2017 it is projected to increase to 13.7% in 2030 and 20.3% in 2050. The European market accounts for a significant market share and witnessed strong growth in the last few years owing to a rise in obesity increase in cardiovascular disease patients and the prevalence of diabetes. According to WHO (World Health Organization), there are about 60 million people with diabetes in the European Region which is about 10.3% of men and 9.6% of women aged 25 years and above. Nearly 50% of people with diabetes as a medical condition die of cardiovascular disease.  

 

Global Cardiac Monitoring Devices Market : Product Types

• ECG devices
• Implantable loop recorder
• Cardiac output monitoring
• Event monitors
• Defibrillators
• Pacemakers
• Cardiac Resynchronization Therapy (CRT) devices

Global Cardiac Monitoring Devices Market : Application

• Hospitals
• Ambulatory Care
• Others

Global Cardiac Monitoring Devices Market : Competitive Analysis

The report includes accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study constitutes of the following key players in the Global Cardiac Monitoring Devices Market :

• Abbott
• Biotronik
• Medtronic
• GE Healthcare
• Boston Scientific Corporation
• Hill-Rom
• Spacelabs Healthcare

Geographical analysis of Global Cardiac Monitoring Devices Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Cardiac Monitoring Devices Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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