Global cardiac monitoring market is estimated to be USD 22.64 bn in 2021

The “Global Cardiac Monitoring & Cardiac Rhythm Management Market (2021-2026) by Product, Type, End-user, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis” report has been added.

The Global Cardiac Monitoring & Cardiac Rhythm Management Market is estimated to be USD 22.64 Bn in 2021 and is expected to reach USD 28.62 Bn by 2026, growing at a CAGR of 4.8%.

The increasing instance of cardiovascular disorders is one of the foremost factors driving the cardiac rhythm management devices market. The implantable device technology uses complementary metal-oxide-semiconductor (CMOS) which are vulnerable to damage by the therapeutic doses of radiation, but it can vary according to the type of device in use. This factor is one of the major factors that limits the scope of using cardiac rhythm management devices, as the implants are highly sensitive and their malfunctioning may have serious consequences. On the other hand, the high cost of these devices with limited insurance coverage is limiting the growth of the market.

Market Segmentation
By Product, the market is classified into ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Cardiac Output Monitoring Devices, Event Monitors and Smart ECG Monitors.

By Type, the market is classified into Defibrillators, Pacemakers and Others.

By End User, the market is classified amongst Hospitals, Clinics, Cardiac Centres, Ambulatory Surgery Centers, and Other End Users.

By Geography, North American region holds the largest share and is the dominating region in the cardiac monitoring and cardiac rhythm management devices market followed by Europe.

Recent Developments
1. In October 2020, Healthcare major Abbott confirmed its launch of next-generation heart rhythm management devices in India. The company introduced its new Implantable Cardioverter Defibrillator (ICD) and Cardiac Resynchronisation Therapy Defibrillator (CRT-D) devices for people with abnormal heart rhythms and heart failure. The devices also offered new opportunities for patient engagement and remote monitoring through smartphone connectivity and connected applications.

2. In December 2020, CardioComm, a global provider of consumer heart monitoring and electrocardiogram (‘ECG’) device and software solutions, confirmed its technology integration agreement with LiveCare Corp. (‘LiveCare’) and a Value-Added Reseller and Distribution Agreement with Alliance Tele-Med (‘Alliance’), to provide integrated ECG monitoring through the LiveCare Link+ device and telemedicine platform.

Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Business Wire