About Cardiac Monitoring Devices
According to World Health Organization (WHO), cardiovascular diseases (CVDs) are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. The cardiac monitoring device is a device that allows for the continuous monitoring of the heart's activity through electrocardiography (ECG/EKG). This device continuously records every heartbeat of the patient. These devices are used to diagnose a heart condition and help to manage a heart problem.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
CAGR | 4.1% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cardiac Monitoring Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), GE Healthcare (United States), Medtronic (Ireland), Boston Scientific (United States), BIOTRONIK (Germany), Koninklijke Philips (Netherlands), Asahi Kasei Corporation (Japan), MicroPort Scientific Corporation (China), Hill-Rom Holdings (United States), Nihon Kohden (Japan), SCHILLER AG (Switzerland), ACS Diagnostics (United States), Shenzhen Mindray Bio-Medical Electronics (China), BioTelemetry (United States) and BPL Medical Technologies (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Shree Pacetronix (India), OSYPKA (Germany), Alivecor, Inc. (United States) and Lepu Medical Technology (China).
Segmentation Overview
AMA Research has segmented the market of Global Cardiac Monitoring Devices market by Type (ECG Monitor, Pacemaker, Event Recorder, Implantable Cardiac Loop Recorder, Defibrillator, Smart Wearable and Cardiac Resynchronization Therapy (CRT) Devices), Application (Hospitals, Clinics, Home Care Settings and Other) and Region.
On the basis of geography, the market of Cardiac Monitoring Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Cardiac Monitoring Devices Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increased Prevalence of the Cardiovascular Diseases among People
- Rise in the Number of Hospitals and Clinics
- Growing Demand for Cardiac Monitoring Devices from Developing Countries such as China and India
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Influencing Trends | - Increasing Awareness among People about Cardiovascular Diseases
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Restraints | - High Cost of the Cardiac Monitoring Devices
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Road Blocks / Challenges | - Lack of Healthcare Infrastructure in Under Developed Countries
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Gaps & Opportunities | - Growth in the Healthcare Industry Worldwide
- Growing Geriatric Population Worldwide
- Rise in the Research and Development Activities
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Market Leaders and their expansionary development strategies
In 2021, iRhythm Technologies Inc. has received US FDA 510k approval for a new and improved design of its flagship monitor. Zio Ambulatory Heart Monitoring Patch detects AFib. The new monitor improves compliance and provides patient comfort, the company said.
In 2021, Angel Medical Systems Inc is US FDA approved for an enhanced real-time cardiac monitor for acute coronary syndrome (ACS) events. The device is the world's first implantable heart detection monitor and patient alert system for ACS events, including silent heart attacks. This is a second-generation device with enhancements such as ease-of-use adaptations and an updated long-life battery that could potentially improve the lifespan of the implanted device., In 2021, AliveCor's electrocardiogram (ECG) device, the KardiaMobile 6L, is 510(k) approved by the US Food and Drug Administration (FDA). The KardiaMobile 6L is the first portable ECG device to receive FDA approval for the measurement of QTc in patients. and In 2020, Abbott Laboratories introduces the Gallant implantable defibrillator (ICD) in Europe.
Key Target Audience
Cardiac Monitoring Devices Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.