The South America cardiac arrhythmia monitoring devices market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.1% during 2023–2031. The growth of the market is attributed to the increased requirement for sturdy and high-quality products in the healthcare sector.
Cardiac monitoring is not essential but is required continuously for cardiac arrhythmia. As cardiac arrhythmia is not curable, it’s not practical to retain a patient in the hospital for extremely long duration period, and nor it’s practical to ask a patient to visit the hospital every day.
Thus, the preferred way to continuously monitor the patients suffering from cardiac arrhythmia is through remote patient monitoring by using the cardiac arrhythmia monitoring devices.
Market Drivers, Restraints, Trends, and Opportunities
Ease of use and portability of cardiac arrhythmia monitoring devices and development of smart cardiac monitors are driving the South America cardiac arrhythmia monitoring devices market.
High cost of cardiac arrhythmia monitoring devices can restrain the market growth.
The COVID-19 outbreak has increased the burden on the healthcare sector owing to rising incidence of cardiovascular diseases due to the virus. This, in turn, has positively influence the market growth.
Increasing government support and rising number of investment in the healthcare sector are anticipated to fuel the growth of the market.
Ongoing technological advancements and improvement in the healthcare sector are proliferating the growth of the market.
Increasing investment of the government and private players to develop the healthcare sector are speculated to drive the market growth.
Scope of South America Cardiac Arrhythmia Monitoring Devices Market Report
The report on the South America cardiac arrhythmia monitoring devices market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Cardiac Arrhythmia Monitoring Devices Market - South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
Devices (Event Monitoring Devices, Continuous Rhythm Monitoring Devices, Holter Monitoring Devices, Other Devices) and Service Providers (Mobile Cardiac Telemetry Monitoring Service Providers, Independent Diagnostic Testing Facilities/Clinics)
Brazil, Argentina, and Rest of South America
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Abbott Laboratories, GE Healthcare, Medtronic PLC, Boston Scientific Corporation, and Koninklijke Philips Nv
South America Cardiac Arrhythmia Monitoring Devices Market Segment Insights
Holter monitoring devices segment to dominate the market share
Based on devices, the market is segregated as event monitoring devices, continuous rhythm monitoring devices, holter monitoring devices, and others. The holter monitoring devices segment is expected to dominate the market during the forecast period.
This type of device is used for diagnosing sporadic symptoms in patients. It also offers faster and convenient monitoring to increase patient compliance and is expected to enhance the treatment outcome. On the other hand, the continuous rhythm monitoring devices is expected to grow at a steady rate during the forecast period.
Mobile cardiac telemetry monitoring service providers segment to account a large market share
On the basis of service providers, the 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 projected to account for a large market share during the forecast period.
Conversely, the latter segment is expected to grow at a substantial rate in the projected timeline. This is due to rising awareness about the disease and increasing screening in emerging economies.
The market in Brazil to exhibit a high CAGR
In terms of geography the market is classified as Brazil, Argentina, and Rest of South America. The market in Brazil is projected to exhibit a high CAGR during the forecast period owing to the increasing demand for cardiac arrhythmia monitoring devices to rising cases of cardiac arrhythmia in the country. Rising improvement in the healthcare scenario is boosting the growth of the market in Brazil.
- Event Monitoring Devices
- Continuous Rhythm Monitoring Devices
- Holter Monitoring Devices
- Other Devices
- Mobile Cardiac Telemetry Monitoring Service Providers
- Independent Diagnostic Testing Facilities/Clinics
- Rest of South America
Some of the major players in the market are Abbott Laboratories, GE Healthcare, Medtronic PLC, Boston Scientific Corporation, koninklijke philips nv.
The majority of the cardiac arrhythmia monitoring devices are being manufactured by the global key players. Companies are engaging in partnerships, acquisitions, and mergers to expand their market share.