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Ambulatory cardiac monitoring devices market to grow by USD 2,091.31M

The ambulatory cardiac monitoring devices market is set to grow by USD 2,091.31 million from 2022 to 2027 progressing at a CAGR of 6.28% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The rising incidence of heart disease is the key factor driving the growth of the global ambulatory cardiac monitoring devices market. In developing countries, the rising incidence of heart disease is attributed to a combination of factors, including urbanization, changing diets, and a shift towards more sedentary lifestyles. In these countries, there is also a higher prevalence of infectious diseases, which can increase the risk of developing heart disease. The growing need for effective diagnostic tools for heart disease highlights the importance of early detection and treatment. This surges the demand for ambulatory cardiac monitoring devices. Thus, the rising incidence of heart disease has led to an increase in the sale of ambulatory cardiac monitoring devices, which will positively impact the growth of the global market in focus during the forecast period.

The report on the ambulatory cardiac monitoring devices market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Ambulatory cardiac monitoring devices Market 2023-2027 – Market dynamics
Significant trend
Advancements in technology are the primary trend shaping the global ambulatory cardiac monitoring devices market growth. Wearable devices have become increasingly popular for ambulatory cardiac monitoring, providing continuous electrocardiogram (ECG) monitoring outside of a clinical setting. These devices can help detect and monitor arrhythmias, which are abnormal heart rhythms and can provide valuable information for diagnosing and managing heart conditions. For example, mobile cardiac telemetry (MCT) monitors are wearable devices that continuously monitor the heart’s electrical activity and transmit the data to a monitoring center for analysis. Similarly, some smartwatches, such as the Apple Watch and certain models of Fitbit, have built-in ECG sensors that can detect irregular heart rhythms. While these devices are not as sensitive as a Holter monitor or MCT monitor, they can provide useful information for people who are at risk of arrhythmias. Thus, increasing technological advancement in medical devices will have a positive impact on the growth of the global ambulatory cardiac monitoring devices market during the forecast period.

Key challenges
A stringent regulatory process is a major challenge impeding the growth of the global ambulatory cardiac monitoring devices market. Stringent product approval processes and safety regulations for the medical device industry make it difficult for manufacturers to launch new products in the global ambulatory cardiac monitoring devices market. The US FDA prevents unsafe and ineffective healthcare/medical devices from entering commercial use. This has resulted in many medical devices being rejected by the US FDA or facing a prolonged approval process. These devices may also require premarket approval. The failure to comply with these rules and regulations in a timely and efficient manner may delay their approval by regulatory authorities, which will further delay the introduction of new products in the market, thus affecting vendors profit margins and operations negatively, which may hamper the growth of the global market in focus during the forecast period.

Ambulatory cardiac monitoring devices market 2023-2027 : Market segmentation
The ambulatory cardiac monitoring devices market analysis includes device (ambulatory ECG devices, ambulatory cardiac event monitors, ambulatory cardiac telemetry devices, and implantable loop recorders), end-user (ambulatory care centers, hospitals, and clinics and cardiac centers), and geography (North America, Asia, Europe, and Rest of World (ROW)).

The market share growth by the ambulatory ECG devices segment will be significant for overall market growth during the forecast period. Advancements in technology have led to the development of more portable and user-friendly ambulatory ECG devices, making them more accessible to patients and healthcare providers. These devices can be worn for several days or weeks and are capable of recording and storing patient ECG data, which can be reviewed by a physician to help diagnose and manage heart conditions. Hence, the high demand for ambulatory ECG devices is expected to continue during the forecast period as the global burden of cardiovascular disease continues to rise, and more patients seek early detection and monitoring of heart conditions. Such factors will increase segment growth during the forecast period.

Companies mentioned

  • Abbott Laboratories
  • ACS Diagnostics Inc.
  • Asahi Kasei Corp.
  • Baxter International Inc.
  • BIOTRONIK SE and Co. KG
  • Fukuda Denshi Co. Ltd.
  • General Electric Co.
  • Koninklijke Philips NV
  • Medi Lynx Cardiac Monitoring, LLC
  • Medicalgorithmics SA
  • Medtronic Plc
  • Mindray Bio medical Electronics Co. Ltd
  • Nihon Kohden Corp.
  • OSI Systems Inc.
  • SCHILLER AG
  • iRhythm Technologies Inc.

Vendor offerings

  • Abbott Laboratories: The company manufactures branded generic pharmaceuticals for established and emerging markets. The company also offers ambulatory cardiac monitoring devices such as leadless pacemakers, insertable cardiac monitors, and cardiac leads.
  • ACS Diagnostics Inc.: The company offers ambulatory cardiac monitoring devices such as CORE 12 monitor, and the CORE clip holter monitor.
  • Asahi Kasei Corp.: The company offers ambulatory cardiac monitoring devices such as Zoll cardiac monitor.

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