Trends
Cardiac arrhythmia monitoring devices market to surpass USD 10.3B
The global cardiac arrhythmia monitoring devices market was valued at USD 6.4 billion in 2021 and it is anticipated to grow up to USD 10.3 billion by 2031, at a CAGR of 5.5% during the forecast period.
Cardiac arrhythmia monitoring devices are mainly used for monitoring patients with high risk of arrhythmic conditions. These devices help healthcare professionals in monitoring irregular heartbeat for better diagnosis and treatment of CVD patients to reduce associated mortalities.
Market trends and drivers
Development of technologically advanced monitoring devices including wireless monitors that offers benefit of early detection is expected to augment the industry growth. The use of cardiac rhythm monitoring (CRM) devices has significantly surged in the recent years due to rising life expectancy and constant advancements that have extended their abilities and scope.
Recent developments in CRM devices are positively impacting the rate of product approval in developed markets that will further strengthen the industry growth potential. For instance, Medtronic has received approval for its exclusive device named CareLink SmartSync Device Manager that assists healthcare professionals to program and handle data from its BlueSync-equipped implanted CRM device. Thus, aforementioned industry developments are anticipated to impel the market expansion.
Cardiac arrhythmia monitoring devices market segmentation
By product
- Holter Monitor
- Event Recorder
- Mobile Cardiac Telemetry
- Implantable Cardiac Monitor
- Electrocardiogram (ECG) Monitor
- Others
By application
- Tachycardia
- Bradycardia
- Premature Contraction
- Others
By end-user
- Hospitals and Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
- Homecare Settings
- Others
Major players in the global cardiac arrhythmia monitoring devices market
The key players in the cardiac arrhythmia monitoring devices market are Applied Cardiac Systems, AliveCor, Biotronik, Biotricity, GE Healthcare, iRhythm Technologies, Koninklijke Philips N.V., Medtronic plc., Nihon Kohden Corporation, and St. Jude Medical, among others.
Market trends and drivers
Development of technologically advanced monitoring devices including wireless monitors that offers benefit of early detection is expected to augment the industry growth. The use of cardiac rhythm monitoring (CRM) devices has significantly surged in the recent years due to rising life expectancy and constant advancements that have extended their abilities and scope. Recent developments in CRM devices are positively impacting the rate of product approval in developed markets that will further strengthen the industry growth potential. For instance, Medtronic has received approval for its exclusive device named CareLink SmartSync Device Manager that assists healthcare professionals to program and handle data from its BlueSync-equipped implanted CRM device. Thus, aforementioned industry developments are anticipated to impel the market expansion. Global Insight Services
