The global cardiac arrhythmia monitoring devices market size is projected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing instance of heart attack and stroke and rising awareness among individual to track and manage their health.
Around 30% of all deaths worldwide are caused by cardiovascular disorders, with heart disease accounting for the major share. Elevated cholesterol levels, diabetes, cigarette smoking, obesity, and hypertension are all risk factors for heart disease. The frequency of these elements varies demographically, i.e., by region, gender ratio, and ethnicity. Ischemic heart disease is the most common kind of heart disease, accounting for 46% of all cardiovascular deaths in men and 38% in women.
Moreover, increase in the number of instances of heart failure, there has been a large increase in the demand for heart transplantation. However, due to a lack of available heart donors and a long waiting list, death rates have increased.
An irregular heartbeat is referred to as cardiac arrhythmia (uh-RITH-me-uh). Heart rhythm issues (heart arrhythmias) develop when the electrical signals that coordinate the heart's beats malfunction.
Cardiac arrhythmia monitoring is the continuous monitoring of cardiac activity using electrocardiography techniques to study the heart rhythm and detect irregularities in the heart's functioning. Cardiac monitoring is an important element of healthcare diagnostics since it allows us to understand numerous bodily processes by carefully evaluating the heart rhythm.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing investment for the development of devices is projected to boost the market during the forecast period.
- Expansion of healthcare infrastructure and leading companies focusing on the development of next generation cardiac monitoring devices are anticipated to fuel the market in the coming years.
- Rising incidence of cardiovascular disease are expected to drive the market in coming years.
- Rising popularity of non-invasive, portable, and implantable technologies has propelled the market.
- Increasing usage of telecardiology is expected to drive the market.
- Growing government funding and initiatives are projected to surge the market during the forecast period.
- High cost of devices is expected to hamper the market growth.
Scope of the Report
The report on global cardiac arrhythmia monitoring devices markets the includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Global Cardiac Arrhythmia Monitoring Devices Market - Italy Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Service Providers (Mobile Cardiac Telemetry Monitoring Service Providers and Independent Diagnostic Testing Facilities/Clinics), Devices (Continuous Rhythm Monitoring Devices, Holter Monitoring Devices, Event Monitoring Devices, Other Devices)
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Country Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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GE Healthcare; Boston Scientific Corporation; Abbott Laboratories; Medtronic; and Biotronik
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Global Cardiac Arrhythmia Monitoring Devices Market Segment Insights
The mobile cardiac telemetry monitoring service providers segment is estimated to account for a major market share
Based on service providers, the cardiac arrhythmia monitoring devices market is divided into mobile cardiac telemetry monitoring service providers and independent diagnostic testing facilities/clinics. The mobile cardiac telemetry monitoring service providers segment is expected to hold a key share of the market during the forecast period owing to offer the patient with mobility and real-time data to the clinicians The increased diagnostic output of MCT devices over regular cardiac monitoring devices is projected to generate considerable patient demand.
The holter monitoring devices segment is expected to grow at a robust pace
On the basis of types, the cardiac arrhythmia monitoring devices market is segmented into continuous rhythm monitoring devices, holter monitoring devices, event monitoring devices, and others. The holter monitoring devices segment is expected to represent a key share of the market in the coming years due to these devices can be used for extended periods of time to diagnose sporadic symptoms in individuals. They also provide faster and more convenient monitoring, which increases patient compliance and is expected to improve treatment outcomes.
North America is anticipated to dominate the market
On the basis of regions, the cardiac arrhythmia monitoring market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to enhancing use of innovative cardiovascular solutions and complex healthcare infrastructure.
Segments
The global cardiac arrhythmia monitoring devices market has been segmented on the basis of
Service Providers
- Mobile Cardiac Telemetry Monitoring Service Providers
- Independent Diagnostic Testing Facilities/Clinics
Devices
- Continuous Rhythm Monitoring Devices,
- Holter Monitoring Devices
- Event Monitoring Devices
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- GE Healthcare
- Boston Scientific Corporation
- Abbott Laboratories
- Medtronic
- Biotronik
Competitive Landscape
Key players competing in the cardiac arrhythmia monitoring devices market include GE Healthcare; Boston Scientific Corporation; Abbott Laboratories; Medtronic; and Biotronik.
The cardiac arrhythmia monitoring devices market competitive, with numerous local producers competing against multinational firms. As a result, market players are pursuing mergers, acquisitions, and partnerships to broaden their product offerings and customer base, therefore increasing their market share.
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