Published on : May 16, 2017
Albany, New York, May 16, 2017: The evolution of the cardiac event monitor market is driven by the growing demand for early diagnosis and prevention of various cardiovascular diseases. The report on cardiac event monitors market offers in-depth insights into the current market status, notable trends, emerging opportunities, technological advances, and competitive landscape. The research study provides a detailed analysis of the emerging monitoring modalities, market share and size of key segments, and the vendor landscape in major regions. The factors influencing the adoption of cardiac event monitoring devices by cardiologists are assessed in the study.
The growing demand for effective clinical management of cardiac event monitors among the medical fraternity is a key factor boosting the market world over. The market for cardiac event monitors stood at $1.1 billion in 2016 and is projected to reach $4.8 billion by the end of 2023. The demand for proactive diagnostics and monitoring has propelled the demand for cardiac event monitors. The increased digitization of medical devices and automation in disease monitoring devices are expected to accentuate the growth of the cardiac event monitors market. The advent of integrated monitoring devices that only monitors the vital signs for heart failure but triggers alerts to healthcare providers for timely treatments. For instance, cardiac event ambulatory monitors are useful in detecting arrhythmias and facilitates the access of treatments in real time.
The growing popularity of non-invasive monitoring technologies is anticipated to catalyze the market. For instance, recent technological advancement in medical devices has led to the design of a vital sign patch that supports continuous and minimally invasive monitoring of heart beat, respiration rate, and other parameters such as ECG read out and oxygen saturation in arterial blood. These vital information can then be transferred wirelessly to clinicians through a mobile app. Such developments augur well for the cardiac event monitoring market.
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Several players are adopting cloud-based services to facilitate the analysis of vital information collected from cardiac event monitors. This is expected to open up abundant opportunities for medical device manufacturers. The shifting focus of various healthcare providers from devices to services and software is further expected to catalyze the market growth in the coming years. Furthermore, advances in wireless technologies used in cardiac event monitors and design innovations in wearable are expected to positively impact the market along the forecast period.
Favorable reimbursement policies in various developing regions are expected to propel these regional markets. The implantable devices segment occupy a major market share. The substantial demand for implantable cardiac event monitors is propelled by their higher accuracy and reliability than other electronic cardiac event monitors.
Key market players operating in the cardiac event monitor market are Applied Cardiac Systems, Preventice Services, and MedNet. Other prominent market stakeholders include NuVasive, Inc., HSBC CardGuard, Biotronik, Biomedical Systems, AT&T, AliveCor, Applied Cardiac Systems, and OSI Systems.
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