Global Arrhythmia Monitoring Devices Market, Type (Electrocardiogram (ECG) Monitors, Implantable Monitors, Holter Monitors, Mobile Cardiac Telemetry), Application (Tachycardia, Bradycardia, Atrial Fibrillation, Ventricular Fibrillation, Premature Contraction, Others), End User (Hospitals and Diagnostic Centers, Ambulatory Centers) – Industry Trends and Forecast to 2029
Market Analysis and Size
According to the American Heart Association, about half of all adults in the United States suffer from cardiovascular disease, affecting more than 130 million individuals by 2035. Cardiac arrhythmias, such as tachycardia and bradycardia, are more common in those with severe cardiovascular disorders, and they must be closely managed to avoid abrupt heart failure. Pre-monitoring and pre-diagnosis can help you avoid most types of cardiovascular disease. Arrhythmias, or disturbances in the heart's function, can also be prevented with early detection.
Data Bridge Market Research analyses that the global arrhythmia monitoring devices market which was USD 5.98 billion in 2021, would rocket up to USD 10.05 billion by 2029, and is expected to undergo a CAGR of 6.70% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Electrocardiogram (ECG) Monitors, Implantable Monitors), Application (Tachycardia, Bradycardia, Atrial Fibrillation), End User (Hospitals and Diagnostic Centers, Ambulatory Centers)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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iRhythm Technologies, Inc. (U.S), Medi-Lynx Cardiac Monitoring, LLC. (U.S), AliveCor, Inc. (U.S), B-Secur (U.K), CardioComm Solutions Inc. (Canada), General Electric (U.S), Medtronic (Ireland), Abbott (U.S), NIHON KOHDEN CORPORATION (Japan), Koninklijke Philips N.V. (Netherlands), Hill-Rom Services, Inc. (U.S), Biotronik (Germany), OSI Systems, Inc. (U.S), Fukuda Denshi (Japan), BioTelemetry (U.S), Spacelabs Healthcare (U.S)
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Market Opportunities
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Market Definition
Arrhythmia is an irregular heartbeat occurs when the heart beats too slowly, too rapidly, too early, or irregularly. The arrhythmia monitoring devices are used to track the heart's function, keeping a continuous record of it and assisting in reporting any deviations in the regular rhythm. Arrhythmia monitoring devices include holter monitors, resting ECGs, mobile cardiac telemetry, event monitors, and implantable cardiac monitors.
Global Arrhythmia Monitoring Devices Market Dynamics
Drivers
- Rising incidence of cardiovascular diseases
Favourable government policies, and rising adoption of low-cost ECG services among the lower-income group are the factors increasing the growth of the global arrhythmia monitoring devices market. Although, the increasing focus on technological advancements and innovations is also boosted the growth of the market.
- Development in (Health Insurance Portability and Accountability Act) HIPPA-compliant technology
Current advancements in (Health Insurance Portability and Accountability Act) HIPPA-compliant technology have enabled safe data transmission without delays during the monitoring period. New developing technologies have replaced traditional Holter monitors that generate alerts for patients at high risk of cardiac arrhythmia. As a result, the market will benefit from these devices' remote continuous monitoring capabilities, which respond to the demand for long-term uninterrupted cardiac rhythm control. A significant focus on technology innovation will help firms expand their operations in this industry.
- Technological advancements
Increase in total treatment adequacy and decrease in patient morbidity induced by late diagnosis. One of the most important factors that can boost the market in the following year is continued technological advancement that allows remote monitoring of cardiac rhythm in patients. Arrhythmia detection's high accuracy and efficiency are projected to boost demand, consequently expanding the market. Furthermore, the increased demand for continuous rhythm monitoring in emergency rooms is likely to boost the arrhythmia monitoring devices market size during the forecast period.
Opportunities
Technological improvements in arrhythmia monitoring devices, rising incidence of cardiovascular ailments, increasing desire for low-priced ECG devices, and healthcare cost containment will all drive the worldwide arrhythmia monitoring devices market forward. Government policies that favour arrhythmia monitoring equipment and rising healthcare spending in developing nations will provide opportunities for market players.
Restraints/Challenges
However, product recalls, high costs, and a lack of awareness in low-income nations will limit the global arrhythmia monitoring devices market's growth. Patients may also have trouble triggering the recorder while experiencing symptoms, resulting in a partial recording of the incident. Automatic event-activated recorders are exempt from these restrictions, which can record both symptomatic and asymptomatic arrhythmias.
This global arrhythmia monitoring devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global arrhythmia monitoring devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Arrhythmia Monitoring Devices Market
The pandemic's impact has been unprecedented and devastating, with cardiovascular equipment seeing a negative demand shock across all domains. According to the research, global demand fell dramatically in 2019 compared to the predicted average year-on-year growth. However, the industry gained traction in 2021 as a result of a sharp increase in demand and expansion. Furthermore, the global market is being propelled forward by a growth in the prevalence of chronic heart disease.
Recent Development
• In January 2020, BIOMONITOR III, a novel injectable cardiac monitor from Biotronik, allows for the detection of abnormal heart rhythms. Such new product launches, together with technology advancements, will boost the company's growth potential.
Global Arrhythmia Monitoring Devices Market Scope
The global arrhythmia monitoring devices market is segmented on the basis of type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- ECG
- Implantable Monitors
- Holter Monitors
- Mobile Cardiac Telemetry
Application
- Bradycardia
- Tachycardia
- Atrial Fibrillation
- Ventricular Fibrillation
- Premature Contraction
- Others
End-User
- Hospitals and Diagnostic Centers
- Ambulatory Centers
- Others
Global Arrhythmia Monitoring Devices Market Regional Analysis/Insights
The global arrhythmia monitoring devices market is analysed and market size insights and trends are provided by country, type, application and end-user as referenced above.
The countries covered in the global arrhythmia monitoring devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominating the market due to increasing FDA approval for arrhythmic monitoring devices. Manufacturers of medical devices are constantly investing in monitoring device research and development (R&D), resulting in continuous advancements in monitoring and diagnostic technology.
Asia-Pacific is expected the highest growth during the forecast period due to increasing population and introduction of technologies including wearables such as fitness monitors, mobile monitoring systems, and fabric monitoring systems. Furthermore, in the region, the advent of portable and home-based arrhythmia monitors is a significant medical achievement.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The global arrhythmia monitoring devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global arrhythmia monitoring devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global arrhythmia monitoring devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Global Arrhythmia Monitoring Devices Market Share Analysis
The global arrhythmia monitoring devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global arrhythmia monitoring devices market.
Some of the major players operating in the global arrhythmia monitoring devices market are:
- iRhythm Technologies, Inc. (U.S)
- Medi-Lynx Cardiac Monitoring, LLC. (U.S)
- AliveCor, Inc. (U.S)
- B-Secur (U.K)
- CardioComm Solutions Inc. (Canada)
- General Electric (U.S)
- Medtronic (Ireland)
- Abbott (U.S)
- NIHON KOHDEN CORPORATION (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Hill-Rom Services, Inc. (U.S)
- Biotronik (Germany)
- OSI Systems, Inc. (U.S)
- Fukuda Denshi (Japan)
- BioTelemetry (U.S)
- Spacelabs Healthcare (U.S)
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