Industry Background:
The global Cardiac Monitoring market is expected to witness high growth in the forecasted period due to increasing incidences of cardiac diseases. Cardiac monitoring is the process of continuous or intermittent monitoring of heart activity, generally by electrocardiography, with an assessment of the patient's condition relative to their cardiac rhythm. It is one of the most reliable and efficient options for the monitoring of various cardiac conditions. the global market is driven by an increasingly aging population who are very susceptible to coronary heart diseases, growth in the prevalence of heart diseases, technological developments in cardiac monitoring devices that minimize the chances of infection, and improved efficiency of devices.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Medtronic (Ireland), Boston Scientific (United States), Abbott Laboratories (United States), GE Healthcare (United States), BIOTRONIK (Germany), Hill-Rom Holding (United States), Koninklijke Philips (Netherlands), iRhythm Technologies Inc (United States) and Livanova (United Kingdom) |
According to AMA, the market for Cardiac Monitoring is expected to register a CAGR of 5.2% during the forecast period to 2027. This growth is primarily driven by Increasing Concern of Cardiovascular Diseases and Growing Inclination towards Wearable Cardiac Devices.
Globally, a noticeable market trend is evident Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems
The Health Care Technology sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Medtronic (Ireland), Boston Scientific (United States), Abbott Laboratories (United States), GE Healthcare (United States), BIOTRONIK (Germany), Hill-Rom Holding (United States), Koninklijke Philips (Netherlands), iRhythm Technologies Inc (United States) and Livanova (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On15th July 2019, BIOTRONIK received FDA Clearance for the BIOMONITOR III injectable cardiac monitor (ICM). BioMonitor III is designed to document suspected arrhythmia or unexplained syncope with increased clarity, enabling fast diagnosis and appropriate treatment.
On 15th March 2019, Biotronik announced U.S. Food and Drug Administration (FDA) approval of the Acticor and Rivacor high-voltage cardiac rhythm management (CRM) device families for the treatment of patients with cardiac arrhythmias.
Influencing Trend:
Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems and Increasing Expenditure, Funds, and Grants for Research on CM & CRM Devices
Market Growth Drivers:
Increasing Concern of Cardiovascular Diseases and Growing Inclination towards Wearable Cardiac Devices
Challenges:
Unfavorable Reimbursement Policies and Frequent Product Recalls
Restraints:
Growing Concern Regarding Risk of Infection Due to Implantable Monitoring Devices and Increasing Incidences of Cied Infections
Opportunities:
Growing Demand due to Technological Advancement
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Cardiac Monitoring Market
- Analysis about New Entrants in Cardiac Monitoring Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Cardiac Monitoring Study Sheds Light on
The Cardiac Monitoring Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cardiac Monitoring industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cardiac Monitoring industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.