The global cardiac arrhythmia monitoring devices market will observe a growth of CAGR of 6.9% and exhibit a market valuation of USD 8.41 bn by 2025.
The emergence of digital healthcare has led to an increase in demand for cardiac monitoring devices. This has also resulted in manufacturers introducing new products with advanced features that are affordable for all kinds of customers. The availability of affordable personal healthcare record (PHCR) services has provided access to these affordable devices for users across the world. There are many factors driving the growth of the cardiac arrhythmia monitoring devices market such as the increasing prevalence of cardiovascular diseases, the rising geriatric population, and technological advancements in the device manufacturing processes.
ResearchMoz offers an in-depth analysis of the competitive landscape and the emerging trends for this market, inclusive of market size, and factors driving the growth in the global cardiac arrhythmia monitoring devices.
Wireless Technology Drives the Cardiac Arrhythmia Monitoring Devices Market
The manufacturers are focusing on product innovation by leveraging technologies, the wireless technology is catching up in cardiac care. The new mobile or smart wearables with ECG can monitor the heart functions right from anywhere and the patient can also be monitored remotely without having to visit hospitals and clinics.
These technological advancements in the device manufacturing process to cater to the digital healthcare sector are also contributing to the growth of the global cardiac arrhythmia monitoring devices.
The high cost of these devices and the possibility of side effects may hamper the growth of this market during the forecast period.
Increasing spending on research and development will pave the way for the expansion of the global cardiac arrhythmia monitoring devices
Atrial Fibrillation Segment Boost the Sales of Cardiac Arrhythmia Monitoring Devices
With the increasing cases of atrial fibrillation, the globe witnessed atrial fibrillation 37,574 million atrial fibrillation last year. This trend will continue in the coming years and would lead to growth opportunities for cardiac Arrhythmia monitoring devices.
The availability of affordable personal healthcare record (PHCR) services has provided access to these affordable devices for users across the world, leading to the expansion of this market.
The hospital and clinics segment is expected to be the largest in terms of revenue-generating potential due to rising cases of heart diseases in elderly patients.
North America witnesses the highest number of patients with heart diseases.
The manufacturers are spending on research and development to introduce technologically advanced and patient-centric devices.
According to research, North America is predicted to dominate the cardiac arrhythmia monitoring devices market over the next few years. U.S. medical spending has risen 6.4% to $194.2 billion as a result of research and development spending. The Asia Pacific area is expected to be the fastest developing market over the forecast period. The increase in the area may be due to growing geriatric populations and lifestyle ailments resulting in heart issues. In addition, medical tourism and the introduction of new technologies in the form of smart wearables that monitor heart problems could also contribute to the expansion.
ResearchMoz offers in-depth analyses of the competitive landscape. If you are thinking about entering this market, this is the right place to start. Major players make the cardiac arrhythmia monitoring devices market fragmented and competitive. In addition, manufacturers are focused on introducing new products with enhanced functionalities and ease-of-use features to target elderly populations for smooth monitoring.
The prominent players in the global cardiac arrhythmia monitoring devices market are –
- K.uda Denshi Co., Ltd
- Jude Medical (Abbott)
- Nihon Kohden Corporation
- Spacelabs Healthcare
- Applied Cardiac Systems
- AliveCor, Inc.
The comprehensive report, provided by ResearchMoz, provides a detailed analysis of market growth, trends, problems, and more. This report provides information about the real economy and gives stakeholders and new entrants the ability to make informed decisions to succeed in this market.
Here are a few takeaways from the market-
- The cardiac arrhythmia monitoring devices market is anticipated to grow at a CAGR of 6.9% by 2025, with a market value of USD 8.41 bn.
- The cardiac arrhythmia monitoring devices market should see an increase in the coming years as new modalities are introduced in the treatment of cardiac arrhythmias. These modalities include ablation catheters that destroy specific tissues by disintegrating them in a safer, more precise and more robotically assisted manner.
- The use of wireless technology has spurred the demand for wearable ECGs (electrocardiograms) or mobile ECGs that can send data directly to doctors or hospitals from anywhere at any time. Furthermore, lifestyle diseases and risk factors such as hypertension, diabetes mellitus, obesity, high cholesterol levels, smoking, and others have all been linked to a higher chance of cardiovascular disease, prompting an upsurge in the sale of cardiac arrhythmia monitoring devices over the next few years.
- According to the report, the Asia Pacific region is predicted to grow at the fastest rate during the forecast period. The growing geriatric population and lifestyle diseases leading to heart problems may be responsible for the expansion. Further, medical tourism and the advent of new technologies in the form of smart wearables that monitor heart health may also be responsible for the growth. However, North America will dominate the market during the forecast period.
- In addition, the increasing prevalence of obesity and metabolic disorders across the globe is expected to fuel the adoption of cardiac monitoring devices in the coming years. The adoption of monitoring devices in critical care settings and emergency departments is expected to drive the growth of the cardiac arrhythmia monitoring devices market.
Type Outlook (Revenue, USD Billion)
- Holter Monitors
- Mobile Cardiac Telemetry
- Implantable Monitors
Application Outlook (Revenue, USD Billion)
- Atrial Fibrillation
- Ventricular Fibrillation
- Premature Contraction
End-use Outlook (Revenue, USD Billion)
- Hospitals & Clinics
- Diagnostic Centres
- The Netherlands
Middle East & Africa
- South Africa
- Saudi Arabia