Rising prevalence of cardiovascular diseases has led to rise in demand for cardiac monitoring devices such as ECG, mobile cardiac telemetry devices, and others.
Rising prevalence of cardiovascular diseases has led to rise in demand for cardiac monitoring devices such as ECG, mobile cardiac telemetry devices, and others
The global cardiac monitoring market size is expected to reach USD 32.18 Billion in 2030 and register a revenue CAGR of 3.8% over the forecast period, according to latest report by Reports and Data. Rapid technological developments in healthcare sector and increasing launch of advanced and innovative cardiac monitoring devices are factors driving market revenue growth. Cardiac monitoring generally refers to continuous monitoring of heart rate or activity by Electrocardiogram (ECG) or any other cardiac monitoring devices according to patient’s condition. Various types of cardiac monitoring devices have been developed, manufactured, and procured on a mass scale in several hospitals, clinics, and ambulatory surgery centers to help discover cardiac arrhythmias and other heart conditions, which help determine heart health. Development in hardware and software of cardiac monitoring devices over the period has introduced new features within the device which has helped in understanding of prominent technicalities of functioning of the heart.
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Some Key Highlights from the Report
- Clinics, cardiac centers, and ambulatory surgery centers segment is expected to register significant growth rate during the forecast period. Traveling long distances to hospitals has been difficult for people in rural areas which has led to development of small clinics, cardiac centers, and surgery centers to promote diagnosis and treatment with less healthcare expenditure. Doctors are facilitating this healthcare infrastructure due to increase in population worldwide facing cardiac issues. These institutes also create mass health awareness programs, which help to drive knowledge among people. Increasing preference for mobile cardiac monitoring devices is allowing physicians to procure these devices in the centers for immediate monitoring of patients, which is expected to boost market growth during the forecast period.
- ECG devices segment accounted for largest market revenue share in 2021, due to numerous technological advancements in healthcare sector, such as incorporation of advanced algorithms and workflow improvement features including simplified operations, touchscreen systems, better connectivity, wireless features, and electronic medical records. ECG machine helps in painless and quick detection of the condition of heart with electrical signals. ECG machines are standard equipment, which are used to monitor the heart in operating rooms and ambulances.
- Market in North America accounted for largest revenue share in 2021, due to increase in geriatric population, rapid development in cardiac monitoring devices such as long battery life, miniaturization, leadless or biocompatible materials, and improving rate of government regulatory approvals. In addition, presence of well-developed healthcare infrastructure, skilled professionals, and rising investment by government and private organizations in research activities for development of advanced health monitoring devices are contributing to growth of market in this region.
- In July 2021, Nihon Kohden Digital Health Solutions Inc., the U.S. local development subsidiary of Nihon Kohden, acquired 100% shares of Advanced Medical Predictive Devices, Diagnostics, and Displays, Inc. With this acquisition, Nihon Kohden’s long-term vision is to create innovative healthcare monitoring devices to solve global medical problems and to give better future to people suffering from various diseases.
- Major companies in the global market report include Boston Scientific Corporation, Biotronik, Nihon Kohden Corporation, Abbott, Stryker, Asahi Kasei Corporation, Hill-Rom Services, Inc., BPL Medical Technologies Pvt Ltd., Microport Scientific Corporation, and Medtronic PLC.
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For the purpose of this report, Reports and Data has segmented the cardiac monitoring market based on product type, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2019–2030)
- ECG Devices
- Implantable Loop Recorders
- Mobile Cardiac Telemetry Devices
- Cardiac Output Monitoring Devices
- Event Monitors
- Others
End-use Outlook (Revenue, USD Million; 2019–2030)
- Hospitals
- Clinical, Cardiac Centers and Ambulatory Surgery Centers
- Others
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Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2022–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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