Arrhythmia Market

Arrhythmia Market

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Raksha Sharma

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Vishal Golekar

The global arrhythmia market size was valued at around USD 6.43 Bn in 2022 and is likely to reach USD 11.31 Bn by 2031, expanding at a CAGR of 7.1% during 2023–2031. The market growth is attributed to the rising unhealthy lifestyle choices among the population.

Arrhythmia is a type of heart disease, which is caused due to fluctuations in the heart rhythm. It is also known as cardiac arrhythmia, dysrhythmias, or heart arrhythmias. If the heart rate is more than 100 beats per minute then it is known as tachycardia and if the heart rate is less than 60 beats per minute then it is known as bradycardia.

Global Arrhythmia Market Forecast

Some arrhythmias do not have any symptoms and due to this, the disease remains unnoticed at the initial stages. However, in some cases, symptoms may include chest pain, fluttering in the chest, fainting or dizziness, palpitation or shortness of breath, slow or rapid heartbeat, anxiety, sweating, and fatigue.

“As per the World Health Organization (WHO), the occurrence of arrhythmia in the US has shifted the figure from 2.7 million to more than 6.1 million in recent years. The WHO made its projection that the number would be over 12 million by the end of 2030”.

The COVID-19 pandemic has reduced the growth of the arrhythmia market initially. However, among further studies, researchers and scientists found that the coronavirus had the viral gene of accelerating illness of the hosts and thus a heart patient was more susceptible to the COVID-19 virus than a healthy person. Therefore, rising awareness about the prevention and treatment of arrhythmia disease has led to market growth during the pandemic.

Arrhythmia Market Dynamics

The market report has up-to-date insights that help in formulating a strategic roadmap about the estimated market scenario and performance during 2023 to 2031.

Drivers

Increasing sedentary and unhealthy lifestyles among the population, such as smoking, obesity, and excessive consumption of alcoholic beverages, tobacco, and caffeine is projected to boost the market during the forecast period. Furthermore, the rising consumption of junk food among youngsters is anticipated to increase the cholesterol level in the body, which may cause heart palpitation.

Growing prevalence of cardiac disease and various chronic conditions such as high blood pressure, diabetes, and thyroid problems are expected to propel the market growth. Moreover, the rising consumption of mood stabilizer medication among patients with coronary heart disease and chronic disease drives the market. Mood stabilizer medicines work for anxiety and stress.

“According to a study by US Food and Drugs Administration (FDA), there is a high risk of heart rhythm problems in heart disease patients who are consuming the seizure and mental health medicine Lamictal (lamotrigine)”.

Rapid growth of the healthcare industry and the 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 population especially in developing regions is anticipated to drive the market.

Restraints

 Lack of specialized medical staff acts as a major challenge that can restrict market expansion in the coming years. Only selected doctors are able to pursue the study of the heart and become cardiologists.

Arrhythmia treatment is costly and not everyone can avail it. Therefore, the high cost of arrhythmia diagnostics and treatment & remedies along with high maintenance of the cardiac arrhythmia monitoring devices are estimated to hinder the market growth.

Opportunities

Rising investment in R&D, existing ongoing research, and technological advancement are expected to create lucrative opportunities for the market players. The introduction of smartwatches, which can detect heart rate, activity run, and other features is anticipated to accelerate the market growth.

Global Arrhythmia Market Dynamics

Scope of Arrhythmia Market Report

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

Attributes

Details

Report Title

Arrhythmia Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2020–2021

Forecast Period

2023–2031

Segmentation

Type (Tachycardia and Bradycardia), Sites of Origin (Atrial Arrhythmia [Sinus Bradycardia, Sinus Tachycardia, Premature Atrial Contractions, Wandering Atrial Pacemaker, Supraventricular Tachycardia, Atrial Tachycardia, Multifocal Atrial Tachycardia, Atrial Flutter, Atrial Fibrillation, and Others], Junctional Arrhythmia [Junctional Rhythm, Junctional Tachycardia, Premature Junctional Contraction, and Others], Ventricular Arrhythmia [Premature Ventricular Contractions, Accelerated Idioventricular Rhythm, Monomorphic Ventricular Tachycardia, Polymorphic Ventricular Tachycardia, Ventricular Fibrillation, and Others], Heart Blocks [First-degree Heart Block, Second-degree Heart Block, and Third-degree Heart Block], and Fetal Arrhythmia), Method of Diagnosis (Electrocardiograms and Holter Monitors), and Treatment (Medications [Antiarrhythmic Drugs, Calcium Channel Blockers, Beta Blockers, Anticoagulants, and Dietary Supplements], Catheter Procedures, Implantable Devices, and Surgery)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Market Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Boston Scientific Corporation; Biotronik; Medtronic; iRhythm Technologies, Inc.; GE HealthCare; St. Jude Medical, Inc. (Abbott Laboratories); ACS Diagnostics; Koninklijke Philips N.V.; AliveCor, Inc.; Biotricity; NIHON KOHDEN CORPORATION; and Spacelabs Healthcare (OSI Systems, Inc.)

Arrhythmia Market Segment Insights

On the basis of type, the market is bifurcated into tachycardia and bradycardia. The tachycardia segment is anticipated to hold a large market share during the forecast period. Tachycardia is known as a fast heartbeat or extra beats, which is considered to be the initial stage of heart disease. The segment growth is attributed to the increasing consumption of unhealthy food at a rapid pace.

Global Arrhythmia Market Type

Based on sites of origin, the market is segmented into atrial arrhythmia, junctional arrhythmia, ventricular arrhythmia, heart blocks, and fetal arrhythmia.

The atrial arrhythmia segment is further categorized as sinus bradycardia, sinus tachycardia, premature atrial contractions, wandering atrial
pacemaker, supraventricular tachycardia,
paroxysmal atrial tachycardia, multifocal atrial tachycardia, atrial flutter, atrial fibrillation, and others. The heart block segment is further divided into first-degree heart block, second-degree heart block, and third-degree heart block.

The sinus bradycardia segment is projected to register a considerable CAGR during the projected period, due to the increasing technological advancements in the treatment of heart disease. Rising heart-related diseases and metabolic problems, such as hypothyroidism contribute to segment growth. On the other hand, the atrial tachycardia segment is projected to exhibit a high CAGR during the assessment period, due to the increasing number of arrhythmia patients.

The first-degree heart block segment is expected to expand at a significant growth rate during the projection period, due to the rapid increase in the prevalence of these diseases, especially among the youth. The segment growth is further attributed to the increasing choice of an unhealthy and sedentary lifestyle. However, the second-degree heart block segment is projected to constitute a key market share in the coming years, due to the rising cases of heart-related problems.

On the basis of method of diagnosis, the arrhythmia market is bifurcated into electrocardiograms and Holter monitors.

The electrocardiograms segment is expected
to register a robust growth rate during the forecast period, owing to the increasing usage of this equipment. Electrocardiogram (ECG) offers accurate readings for proper diagnostics and treatment plans being formulated accordingly at an initial stage. Thus, the growing requirement for accuracy and fast diagnosis demands diagnostic electrocardiography devices.


The Holter monitors segment is anticipated to grow at a rapid pace, as it utilizes for a long period of time to diagnose sporadic symptoms. It is a portable, battery-powered device, which use to record an electrocardiogram for up to 24 hours. The segment growth is further attributed to the rising adoption among heart patients, due to the ease of use and faster monitoring.

Global Arrhythmia Market Method of Diagnosis

Based on treatment, the market is segregated into medications, catheter procedures, implantable devices, and surgery.

The medications segment is further fragmented into antiarrhythmic drugs, calcium channel blockers, beta blockers, anticoagulants, and dietary supplements.


The antiarrhythmic drugs segment is anticipated to generate a major revenue share in the coming years, as it restores normal cardiac function. Thus, the increasing consumption of antiarrhythmic drugs at the initial stage to prevent life-threatening consequences boosts the market.

The calcium channel blockers and beta blockers segments are expected to expand at a rapid pace. Calcium channel blockers and beta blockers are considered first-line agents for rate control in atrial fibrillation. These drugs are effective and can be administered either orally or intravenously.

In terms of region, 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 during the forecast period, due to the presence of prominent players and the prevalence of heart rhythm disorders among a large population. Furthermore, rising investment in R&D activities for the establishment of advanced medical technologies fuels regional market growth.


In the US, more than 63% of the population is accounted for either obesity or first-degree heart blocks, which makes this region a popular market in terms of arrhythmia treatment and diagnosis.

The market in Asia Pacific is anticipated to expand at a significant CAGR during the projection period, due to the increasing number of arrhythmia and heart patients in the region. Moreover, the rising acceptance of portable monitor devices for the treatment of cardiac illness accelerates the market.

Global Arrhythmia Market Regions

Segments

The global arrhythmia market has been segmented on the basis of

Type

  • Tachycardia
  • Bradycardia

Sites of Origin

  • Atrial Arrhythmia
    • Sinus Bradycardia
    • Sinus Tachycardia
    • Premature Atrial Contractions
    • Wandering Atrial Pacemaker
    • Supraventricular Tachycardia
    • Atrial Tachycardia
    • Multifocal Atrial Tachycardia
    • Atrial Flutter
    • Atrial Fibrillation
    • Others
  • Junctional Arrhythmia
    • Junctional Rhythm
    • Junctional Tachycardia
    • Premature Junctional Contraction
    • Others
  • Ventricular Arrhythmia
    • Premature Ventricular Contractions
    • Accelerated Idioventricular Rhythm
    • Monomorphic Ventricular Tachycardia
    • Polymorphic Ventricular Tachycardia
    • Ventricular Fibrillation
    • Others
  • Heart Blocks
    • First-degree Heart Block
    • Second-degree Heart Block
    • Third-degree Heart Block
  • Fetal Arrhythmia

Method of Diagnosis

  • Electrocardiograms
  • Holter Monitors

Treatment

  • Medications
    • Antiarrhythmic Drugs
    • Calcium Channel Blockers
    • Beta Blockers
    • Anticoagulants
    • Dietary Supplements
  • Catheter Procedures
  • Implantable Devices
  • Surgery

Region

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

Key Players

  • Boston Scientific Corporation
  • Biotronik
  • Medtronic
  • iRhythm Technologies, Inc.
  • GE HealthCare
  • St. Jude Medical, Inc. (Abbott Laboratories)
  • ACS Diagnostics
  • Koninklijke Philips N.V.
  • AliveCor, Inc.
  • Biotricity
  • NIHON KOHDEN CORPORATION
  • Spacelabs Healthcare (OSI Systems, Inc.)

Competitive Landscape

Key players competing in the global arrhythmia market are Boston Scientific Corporation; Biotronik; Medtronic; iRhythm Technologies, Inc.; GE HealthCare; St. Jude Medical, Inc. (Abbott Laboratories); ACS Diagnostics; Koninklijke Philips N.V.; AliveCor, Inc.; Biotricity; NIHON KOHDEN CORPORATION; and Spacelabs Healthcare (OSI Systems, Inc.).

These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. The competitive landscape covers key insights into growth strategies adopted by major market players.

  • On October 26, 2022, Biotricity launched a Cardiac Disease Management Solution “Biocare Cardiac”. The solution combines diagnostics, disease and lifestyle management, and telemedicine for patients and cardiologists. It offers cardiovascular care and a four-month pilot with Lexington Heart Specialists in Kentucky.
  • On May 3, 2022, AliveCor launched a heart health enterprise solution “KardiaComplete”. The solution is designed for people who are diagnosed with arrhythmia and hypertension. It improves health outcomes and reduces cardiac care costs.
Global Arrhythmia Market Key Players
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Arrhythmia Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Arrhythmia Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Arrhythmia Market - Supply Chain
  4.5. Global Arrhythmia Market Forecast
     4.5.1. Arrhythmia Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Arrhythmia Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Arrhythmia Market Absolute $ Opportunity
5. Global Arrhythmia Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Arrhythmia Market Size and Volume Forecast by Types
     5.3.1. Tachycardia
     5.3.2. Bradycardia
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Arrhythmia Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Arrhythmia Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Arrhythmia Demand Share Forecast, 2019-2026
7. North America Arrhythmia Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Arrhythmia Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Arrhythmia Market Size and Volume Forecast by Types
     7.4.1. Tachycardia
     7.4.2. Bradycardia
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Arrhythmia Demand Share Forecast, 2019-2026
8. Latin America Arrhythmia Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Arrhythmia Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Arrhythmia Market Size and Volume Forecast by Types
     8.4.1. Tachycardia
     8.4.2. Bradycardia
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Arrhythmia Demand Share Forecast, 2019-2026
9. Europe Arrhythmia Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Arrhythmia Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Arrhythmia Market Size and Volume Forecast by Types
     9.4.1. Tachycardia
     9.4.2. Bradycardia
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Arrhythmia Demand Share Forecast, 2019-2026
10. Asia Pacific Arrhythmia Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Arrhythmia Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Arrhythmia Market Size and Volume Forecast by Types
     10.4.1. Tachycardia
     10.4.2. Bradycardia
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Arrhythmia Demand Share Forecast, 2019-2026
11. Middle East & Africa Arrhythmia Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Arrhythmia Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Arrhythmia Market Size and Volume Forecast by Types
     11.4.1. Tachycardia
     11.4.2. Bradycardia
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Arrhythmia Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Arrhythmia Market: Market Share Analysis
  12.2. Arrhythmia Distributors and Customers
  12.3. Arrhythmia Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Boston Scientific Corporation
     12.4.2. Biotronik
     12.4.3. Medtronic
     12.4.4. iRhythm Technologies, Inc.
     12.4.5. GE HealthCare
     12.4.6. St. Jude Medical, Inc. (Abbott Laboratories)
     12.4.7. ACS Diagnostics
     12.4.8. Koninklijke Philips N.V.
     12.4.9. AliveCor, Inc.
     12.4.10. Biotricity
     12.4.11. NIHON KOHDEN CORPORATION
     12.4.12. Spacelabs Healthcare (OSI Systems, Inc.)

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