Global Cardiac Arrhythmia Monitoring Devices Market is expected to reach $XX Mn by 2026 from $XX Mn in 2019, at a CAGR of 6.9% during the forecast period.
Global Cardiac Arrhythmia Monitoring Devices Market Overview:
Cardiac arrhythmia monitoring devices detect and alarm the heartbeats that are irregular being either too slow or too fast. This device records heart, rhythm, and abnormalities in heart functioning. Heart rhythm problems occur during the electrical impulses, which coordinate heartbeats that don’t work properly, causes the heart to beat either too slow or too fast.
Global Cardiac Arrhythmia Monitoring Devices Market Dynamics:
Increasing occurrences of cardiovascular and rising cases of atrial fibrillation, which is a common type of arrhythmia, are the major drivers for the market growth.
Atrial fibrillation is a rapid heart rate caused by chaotic electrical impulses in the atria. According to the Centres for Disease Control and Prevention (CDC), approximately 2 % of people younger than 65 years old are affected by atrial fibrillation, while about 9 % of people ages 65 and older have it. In 2018, 175,326 deaths were registered due to atrial fibrillation in the United States.
Hence, it has increased demand for the adoption of cardiac arrhythmia monitoring devices, which in turn fuels the market growth. An increase in smoking, rise in consumption of alcohol and caffeine, changing lifestyle, rise in obese population and other factors causing arrhythmia also drive the demand for monitoring devices for continuous diagnosis. Technological advancements, rising investments in connected devices, cardiology informatics, and mobile solutions for advanced cardiac care positively influence the market growth.
In June 2019, Zoll Medical announced the launch of Zoll HFAMS, a patch-based wearable heart control system that manages heart rhythm, respiratory rate, and heart rate. Customer demand would rise as a result of such advances, affecting business growth even more. However, certain factors like the high cost of these monitoring devices, lack of skilled professionals and negative effects of some cardiac monitoring devices may restrain the market from growing.
The report has profiled fifteen key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing RD activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for a future hot spot in APAC region.
Global Cardiac Arrhythmia Monitoring Devices Market Segment Analysis:
The global Cardiac Arrhythmia Monitoring Devices Market is segmented on the basis of device, application and end-users.
Based on Devices, the Holter monitor segment dominated the global market in the year 2019 by holding a share of 25.19%. The segment growth is attributed to the introduction of wireless wearable technology in cardiac Holter monitoring. These devices can be used for diagnosing sporadic symptoms in suffering patients for longer durations. They also offer faster and convenient monitoring to increase patient compliance and are likely to enhance treatment outcome.
According to the news released on February 2021, Remote cardiac monitoring vendor RhythMedix released its next-generation RhythmStar wearable device with built-in 4G cellular connectivity. The novel cardiac telemetry monitor is discreetly worn for extended remote monitoring without the need for an additional phone or communication device.
Based on the Application, the Atrial Fibrillation segment is expected to dominate the global market during forecast years as it is the most common type of arrhythmia. It has a high risk of stroke and blood clotting. In many cases, it remains undiagnosed in clinical practices with conventional monitoring, resulting in inadequate treatment at the right time. Therefore, monitoring of atrial fibrillation requires enhanced technological devices for diagnosis that can help overcome limitations imposed by conventional technologies.
Global Cardiac Arrhythmia Monitoring Devices Market
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Global Cardiac Arrhythmia Monitoring Devices Market Regional Insights:
Global Cardiac Arrhythmia Monitoring Devices Market 1
North America is expected to dominate the global Cardiac Arrhythmia Monitoring Devices market.
Due to the increasing adoption of advanced cardiovascular solutions and well-established healthcare infrastructure, the market in the US region is expected to witness lucrative growth. Other factors increasing incidence of cardiovascular diseases, increasing healthcare expenditure, growing disposable income and growing healthcare awareness are the factors contributing to the market growth.
According to the American Heart Association (AHA), about 8,36,546 individuals die from cardiovascular diseases in the United States each year and nearly 92.1 million Americans are living with some form of cardiovascular disease. As per the estimates of the CDC, around 2.7-6.1 million people in the United States have Atrial Fibrillation (Afib). This increasing number of individuals is found driving the overall market.
The report also helps in understanding the Global Cardiac Arrhythmia Monitoring Devices Market dynamics, structure by analyzing the market segments and project the Global Cardiac Arrhythmia Monitoring Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Cardiac Arrhythmia Monitoring Devices Market make the report investor’s guide.
Global Cardiac Arrhythmia Monitoring Devices Market Key Developments:
• In May 2019, a next-generation heart monitor for cardiac arrhythmia detection was launched in U.S. and Europe by Abbott. This launch offered business expansion in developing economies.
• In January 2020, Biotronik launched a new injectable cardiac monitor, BIOMONITOR III. This device allows the detection of irregular heart rhythm. This new technological development will increase the growth potential of the company.
Global Cardiac Arrhythmia Monitoring Devices Market Scope: Inquire before buying
Global Cardiac Arrhythmia Monitoring Devices Market 2
Global Cardiac Arrhythmia Monitoring Devices Market, by Region:
• North America
• South America
Global Cardiac Arrhythmia Monitoring Devices Market Key Players:
• GE Healthcare
• Fukuda Denshi Co., Ltd.
• Biotronik, Inc.
• Abbott Laboratories
• Biotelemetry, Inc.
• Spacelabs Healthcare, Inc.
• AliveCor, Inc.
• NUUBO Smart Solutions Technologies
• Koninklijke Philips N.V.
• Medronic, Plc.
• Welch Allyn – A Hill-Rom Inc. Company
• Nihon Kohden Corporation
• ACS Diagnostics
• Asahi Kasei Corporation
• MicroPort Scientific Corporation