IndustryARC, in its latest report, predicts that Cardiac Monitoring & Cardiac Rhythm Management Market size is estimated to reach $27.8 billion by 2027, growing at a CAGR of 4.1% during the forecast period 2022-2027. The Emerging Application of ambulatory and home services for cardiac monitoring and supportive reimbursement policies are set to propel the growth of the Cardiac Monitoring & Cardiac Rhythm Management Market during the forecast period 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
1. Geographically, North America Cardiac Monitoring & Cardiac Rhythm Management Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increased patient pool of cardiovascular diseases and cardiac abnormalities like arrhythmias requiring application of implantable loop recorders in the North American region.
2. Cardiac Monitoring & Cardiac Rhythm Management Market growth is being driven by the increasing predominance of heart ailments requiring the application of devices like implantable loop recorders and an expanding population of the elderly who are very vulnerable to coronary heart disease. However, the growing occurrences of contamination, the soaring costs related to cardiac monitoring, and the binding regulatory procedures are some of the major factors hampering the growth of the Cardiac Monitoring & Cardiac Rhythm Management Market.
3. Cardiac Monitoring & Cardiac Rhythm Management Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Cardiac Monitoring & Cardiac Rhythm Management Market report.
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Segmental Analysis:
1. Cardiac Monitoring & Cardiac Rhythm Management Market based on products can be further segmented into Electrocardiogram Devices, Implantable Loop Recorders, Cardiac Output Monitoring Devices, Event Monitors, Pacemakers, Defibrillators, and Others.
2. Electrocardiogram Devices segment is estimated to grow with the fastest CAGR of 5.9% during the forecast period 2022-2027 owing to the increasing predominance of cardiovascular diseases requiring the application of long-term electrocardiography.
3. Cardiac Monitoring & Cardiac Rhythm Management Market based on end-user can be further segmented into Hospitals, Clinics, Ambulatory Surgical Centers, and Others. Clinics segment is estimated to grow with the fastest CAGR of 6.3% during the forecast period 2022-2027 owing to the expanding application of electrocardiography and implantable loop recorders as required for the treatment of patients in clinics.
4. North America (Cardiac Monitoring & Cardiac Rhythm Management Market) held the largest share with 33% of the overall market in 2021. Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the growing count of cardiovascular ailments in the Asia-Pacific region.
Competitive Landscape:
The top 5 players in the Cardiac Monitoring & Cardiac Rhythm Management industry are –
1. ZOLL Medical Corporation
2. BIOTRONIK
3. GE Healthcare
4. Microport Scientific Corporation
5. Berlin Heart GmBH
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