Market Analysis: Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
The Cardiac Monitoring & Cardiac Rhythm Management Devices Market accounted to USD 23.22 billion in 2016 growing at a CAGR of 5.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
Cardiac monitoring is the process in which cardiac activity is examined and cardiac rhythm management is required to manage the rhythm disorders of the heart. The devices used in the treatment of serious cardiac disorders, including heart failure, atrial fibrillation, atrial flutter, indications of recent heart attack, coronary ischemia, lack of oxygen supply to cardiac muscles, effects of drugs, and certain genetic errors among others. Rise in the incidences of cardiovascular disorders and favorable government regulation and technological advancements are the vital drivers for this market.
Major Market Drivers and Restraints:
- Increasing prevalence of cardiovascular diseases.
- Technological advancements of cardiovascular devices.
- Increasing demand of private institutional nursing and home-based setting devices.
- Stringent government regulations
- Scarcity of skilled professionals with expertise in electrocardiography and cardiac monitoring.
Market Segmentation: Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
The cardiac monitoring & cardiac rhythm management devices market is segmented on the basis of product type into cardiac monitoring and cardiac rhythm management (CRM). The cardiac monitoring segment is sub-segmented into ECG devices, implantable loop recorders, cardiac output monitoring (COM) devices, event monitors and cardiac rhythm monitoring into defibrillators, pacemakers, cardiac resynchronization therapy devices.
The ECG devices are further segmented on the basis of type and lead type. The segmentation of ECG devices on the basis of by type ECG devices includes resting ECG, stress ECG and holter monitor. Holter monitor is further segmented into wired and wireless. On the basis of lead type the market is segmented into single-lead ECG devices, 3 to 6-lead ECG devices and 12-lead ECG devices. Cardiac output monitoring devices are further segmented on the basis of type into minimally invasive COM devices and noninvasive COM devices. The event monitors segment is further sub-segmented into type and technology. On the basis of type the event monitors is segmented into pre-symptom and post-symptom and on the basis of by technology the event monitors is segmented into manual event monitors and auto-detect monitors.
The cardiac rhythm monitoring segment is segmented on the basis of type which includes defibrillators, pacemakers and cardiac resynchronization therapy devices.
The defibrillators are further segmented into implantable cardioverter defibrillators and external defibrillators. Implantable cardioverter defibrillators are further sub-segmented into transvenous implantable cardioverter defibrillator, dual-chamber ICDs and single-chamber ICDs. External defibrillators are further sub-segmented into manual external defibrillators, automated external defibrillators and wearable cardioverter defibrillator. Automated external defibrillators are further sub segmented into semi-automated external defibrillator and fully automated external defibrillator. Pacemakers are further segmented on the basis of implantability, technology and type. On the basis of implantability, pacemakers are segmented into implantable pacemakers and external pacemakers. By technology pacemakers are segmented into dual-chamber pacemakers and single-chamber pacemakers. By Type the pacemakers are further sub segmented into traditional pacemakers and remote pacemakers. Cardiac Resynchronization Therapy Devices are further sub segmented into cardiac resynchronization therapy defibrillators and cardiac resynchronization therapy pacemakers.
By End User the market is segmented into ambulatory care centers, home care settings, cardiac surgery centers, hospitals, clinics.
On the basis of geography, cardiac monitoring & cardiac rhythm management devices market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
The cardiac monitoring & cardiac rhythm management devices market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Cardiac Monitoring & Cardiac Rhythm Management Devices Market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors:Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
Some of the major players operating in cardiac monitoring & cardiac rhythm management devices market are Medtronic, Abbott, Boston Scientific Corporation , GE Company, Koninklijke Philips N.V., Biotronik SE & Co., KG, Mortara Instrument, Schiller, ABIOMED, Hill-Rom, NIHON KOHDEN CORPORATION, ReliantHeart Inc., Siemens AG, 3M, Berlin Heart GmbH, Jarvik Heart, Inc., Stryker, Asahi Kasei Corporation, LivaNova PLC, A BioTelemetry, Inc. Company, OSI Systems, Inc., Midmark Corp., ZOLL Medical Corporation, LifeWatch, Edwards Lifesciences Corporation and Getimge AB among others.
Research Methodology: Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request for Analyst call or drop down your Inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.