Market Insight
The global arrhythmia monitoring devices market is anticipated to grow at a robust CAGR of 6.44%, with achieving a valuation of USD 8,087.4 million during the forecast period (2018-2024). This report detail is gathered by Market Research Future (MRFR).
A cardiac arrhythmia is referred to a condition which is related to an irregularity in heartbeats that is either too slow or fast. Due to such medical issue, arrhythmia monitoring devices are used to identify the type and the cause of irregular heart rhythms. Therefore, a significant factor, such as the development of smart cardiac monitors, is contributing remarkably to the growth of global arrhythmia monitoring devices market during the forecast period.
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Market Drivers & Trends
Arrhythmia monitoring devices play a pivotal role in diagnosing cardiovascular conditions and checking their progress. Their use in tracking the heartbeat of patient and alerting medical authorities in cases of emergency has become widely prevalent in medical establishments globally, which is leading to the progress of global arrhythmia monitoring devices market. Increasing technological advancements in arrhythmia monitoring devices are also to be a key driver for market growth during the approaching years.
The efficient arrhythmia monitoring devices are also likely to be rewarded as successful in the global arrhythmia monitoring devices market due to the increasing use of telecardiology, ease of its usage and rising healthcare expenditure in crucial regions are anticipated to propel the market significantly. Furthermore, other factors boosting the arrhythmia monitoring devices market growth, include growing FDA approvals, increasing adoption of low-cost electrocardiogram (ECG) devices, and growing the geriatric population.
Despite the drivers, on the flip side, factors such as high cost of remote cardiac arrhythmia monitoring, and product recalls are likely to impede the growth of the global arrhythmia monitoring devices market over the assessment period.
Market Segmentation
The global arrhythmia monitoring devices market includes segments such as device type, application, and end user.
In terms of device type, the market has been segmented into resting ECG, event monitor, implantable cardiac monitor (ICM), Holter monitor, mobile cardiac telemetry (MCT) devices, others.
In terms of application, the market has been segmented into tachycardia, bradycardia, atrial fibrillation (A-fib), ventricular fibrillation (V-fib), premature ventricular contractions (PVC), conduction disorders, and others.
In terms of end user, the market has been segmented into hospitals & clinics, diagnostic centers, home care settings, ambulatory surgery centers (ASC), and others. Wherein the hospitals and clinics segment acquired a market value of USD 1,740.0 Million in 2018.
Regional Outlook
Geographically, the global arrhythmia monitoring devices market has covered vital regions of the Americas, Europe, Asia-Pacific, and the Middle East and Africa. Among them, the market in the Americas is leading due to the factors such as the increase in the cases of cardiovascular diseases, growing awareness by several government organizations and private healthcare organizations as well as increased collaborations between research labs and institutions.
Arrhythmia monitoring devices market in the European region is the second largest market due to the growing occurrences of cardiac disorders. In this region, Spain recorded a 5.5% market share in 2018, which has increased significantly by the years.
On the other hand, Asia Pacific has the fastest growing market growth rate owing to the developing healthcare infrastructure and increasing disposable income. Furthermore, the Middle East and Africa are expected to observe a steady growth due to the existence of limited access to these devices and healthcare affordability among the population.
Key Players
The well-known players in the global arrhythmia monitoring devices market are Biotronik (Germany), Abbott Laboratories (US), Medtronic plc (Ireland), GE Healthcare (US), BioTelemetry, Inc. (US), Applied Cardiac Systems, Inc. (US), Alive Cor, Inc. (US), Nihon Kohden Corporation (Japan), Fukuda Denshi Co. Ltd (Japan) and Spacelabs Healthcare (US).
Industry News
July 1, 2019 – Biotronik announced the European market release of its new injectable cardiac monitor (ICM), Biomonitor III, following CE mark approval. This novel device is designed to help patients with irregular heart rhythms by documenting suspected arrhythmia or unexplained syncope with augmented clarity.
TABLE OF CONTENTS
1 Executive Summary$ 1,350.00
2 Market Introduction$ 0.00
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 Market Structure 18
3 Research Methodology$ 0.00
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 22
3.5 Forecast Model 22
4 Market Dynamics$ 950.00
4.1 Overview 23
4.2 Drivers 24
4.2.1 Rising Prevalence Rate Of Cardiac Diseases 24
4.2.2 Increasing FDA Approvals 24
4.2.3 Surge In The Adoption Of Low-Cost Electrocardiogram (ECG) Devices 24
4.2.4 Increasing Geriatric Population 24
4.3 Restraints 26
4.3.1 Increase In Product Recalls 26
4.3.2 Complications Related To Devices 26
4.4 Opportunities 27
4.4.1 Increasing Technological Advancements 27
5 Market Factor Analysis
…Continued
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