Arrhythmia Market by Sites of Origin Atrial (Sinus Bradycardia, Premature Atrial Contractions, Wandering Atrial Pacemaker, and Atrial Tachycardia), Test Equipment (Electrocardiogram and Holter Monitor), Types (Extra Beats, Supraventicular Tachycardias, Ventricular Arrhythmias, and Bradyarrhythmias), Heart Blocks (First Degree Heart Block, Second Degree Heart Block, and Third Degree Heart Block), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global arrhythmia market size is projected to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the technological development of devices and equipment available to identify symptoms of arrhythmia and its immediate treatment.

Arrhythmia is a type of heart disease, which is caused due to fluctuations of heartbeat rhythm. Most arrhythmias do not show any symptoms and due to which, the disease remains unnoticed at the initial stages apart from simply detecting whether the odd heart rate is either going too fast or slow. As per the estimation of World Health Organization (WHO), the occurrence of arrhythmia in the US has shifted the figure from 2.7 million to more than double at 6.1 million in the recent years. The health organization made its projection that the number would be over 12 million by 2030.

The COVID-19 pandemic has reduced the growth of the global arrhythmia market initially. However, upon further studies, researchers and scientists found out that the coronavirus had the viral gene of accelerating illness of the hosts and a heart patient was more susceptible to the COVID-19 virus than that of a healthy person. This led to the growth of the market due to increasing focus on arrhythmia diagnostics for the prevention and treatment of diseases.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing number of arrhythmia cases due to sedentary and unhealthy lifestyle such as smoking, obesity, and disproportionate alcohol is projected to boost the market growth during the forecast period.
• Rapid growth of the healthcare industry and introduction of new arrhythmia devices act as major factors driving the market expansion.
• Growing awareness of advanced technology and treatment methods for arrhythmia among a large number of population especially in developing regions present key drivers for the market.
• High cost of arrhythmia diagnostics and treatment & remedies along with high maintenance of the arrhythmia devices are estimated to impede the market expansion.
• Lack of specialized medical staff present as main challenge that can restrict the market expansion in the coming years. Only a selected few doctors are able to pursue the study of heart and become cardiologists.
• R&D investment and technological advancement are expected to offer significant opportunities for the market players. The introduction of smart watches which can detect heart rate, activity run, and other features are expected to propel the market expansion.

Scope of Arrhythmia Market Report

The report on the global arrhythmia market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Arrhythmia Market Segment Insights

Sinus Bradycardia to dominate the global arrhythmia market
On the basis of sites of origin atrial, the global arrhythmia market is segmented into sinus bradycardia, premature atrial contractions, wandering atrial pacemaker, and atrial tachycardia. The sinus bradycardia is expected to constitute a large market share during the forecast period due to the increasing technological advancements in the treatment of this disease. On the other hand, the atrial tachycardia segment is projected to exhibit a high CAGR during this forecast period due to the increasing number of arrhythmia patients.

Electrocardiogram segment is expected to grow at a rapid pace
Based on test equipment, the market is bifurcated into electrocardiogram and holter monitor. The electrocardiograms segment is expected to grow at a rapid pace during the forecast period owing to the usage of these equipment, which are easy to use and offer accurate readings for proper diagnostics and treatment plans being formulated accordingly. The holter monitor segment, on the other hand, is anticipated to exhibit a robust CAGR during this forecast period due to their mass production of electrocardiogram testing devices by manufacturers.

Extra beats segment is projected to account for a large revenue share
On the basis of types, the global arrhythmia market is divided into extra beats, supraventicular tachycardias, ventricular arrhythmias, and bradyarrhythmias. The extra beats segment is anticipated to hold a large market share during the forecast period due to the increasing occurrence of this kind of disease, which is considered to be the initial stage of heart diseases. Meanwhile, the ventricular arrhythmias segment is projected to constitute a major share of the market in the coming years as gradual development of new devices to treat this diseases efficiently and cost effectively.
 

First degree heart block segment to exhibit a robust CAGR
Based on heart blocks, the market is segmented into first degree heart block, second degree heart block, and third degree heart block. The first degree heart block segment is anticipated to exhibit a robust CAGR during the forecast period due to the rapid increase in prevalence of these diseases, especially among the youths who are leading unhealthy and sedentary lifestyle. The second degree heart block segment is projected to constitute a key market share during the forecast period due to the rising cases of heart-related problems.

North America is anticipated to dominate the market
On the basis of regions, the global arrhythmia market is categorized as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. North America is anticipated to dominate the market share during the forecast period due to the rapid acceleration of research and development activities in this field in the region. In the US, more than 63% of the population are accounted for either obesity or first degree heart blocks, making this region a popular market in terms of arrhythmia treatment and diagnosis. On the other hand, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period due to the increasing number of the arrhythmia patients in the region.
 

Segments

Segments Covered in the Report
The global arrhythmia market has been segmented in terms of

Sites of Origin Atrial

• Sinus Bradycardia
• Premature Atrial Contractions
• Wandering Atrial Pacemaker
• Atrial Tachycardia

Test Equipment

• Electrocardiogram
• Holter Monitor

Types

• Extra Beats
• Supraventicular Tachycardias
• Ventricular Arrhythmias
• Bradyarrhythmias

Heart Blocks

• First Degree Heart Block
• Second Degree Heart Block
• Third Degree Heart Block

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Boston Scientific Corp.
• Medtronic plc.
• St. Jude Medical, Inc.

Competitive Landscape

Major players competing in the global arrhythmia market are Boston Scientific Corp.; Medtronic plc; and St. Jude Medical, Inc. Some of these players are engaging in proactive optimization of their business operation by expanding portfolios. They are also involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, Boston Scientific Corp. introduced a new model of pacemaker on January 2021, which was considered to be one of the lightest products, and can also be connected by smartphone and other smart devices, called the ACCOLADE.