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The Cardiac Monitoring Devices Market size was valued at US$ 29.15 billion in 2023 and is projected to reach US$ 45.91 billion in 2031, with a growing CAGR of 5.84% during the forecast period 2024-2031.
Emerging economies such as India and China are likely to offer a diverse range of growth prospects for market participants, owing to their huge and growing populations as well as an increasing number of hospitals and clinics. The market for cardiac monitoring devices is being driven by the rising incidence of cardiovascular disorders, rising treatment costs for cardiac diseases, increasing usage of ambulatory and home services, favorable government regulation, and technical improvements. The market for cardiac monitoring devices is being driven by the introduction of sophisticated cardiac devices such as subcutaneous ICDs, Automated External Defibrillators (AEDs), and MRI pacemakers. Cardiovascular diseases (CVDs) are the leading cause of death in the United States. According to the WHO, CVDs are responsible for one-fourth of all deaths.
The most common cause of death worldwide is cardiovascular disease (CVD).
Family history, Ethnicity, and Age are all important risk factors for CVD.
Tobacco use, high blood pressure (hypertension), high cholesterol, physical inactivity, diabetes, poor diets, and alcohol use are all risk factors.
There has been an increase in the incidence of disorders
The demand for CM and CRM devices is rising, as these devices can assist and save patients who are at high risk of cardiac arrest.
Opportunities:
When used to treat cardiac arrhythmias, CIEDs have been linked to improved survival of life.
Infections with CIEDs are particularly common in those who have an implanted cardioverter defibrillator.
Envelopes are made for cardiac implantable electronic devices (CIEDs).
Envelope reduced infection by 45% when compared to standard-of-care infection prevention alone.
Challenges
Patients and healthcare practitioners are concerned about cybersecurity vulnerabilities in medical devices, particularly CIEDs
There is the possibility of reprogramming the device as nonfunctional.
The US Food and Drug Administration (FDA) recalled almost 599,000 implantable pacemakers in 2021 owing to their potential for hacking.
COVID-19 has presented a variety of issues for clinicians who have at-risk cardiac patients who are afraid to arrange a visit. People with heart problems are worried about coronavirus, but they risk dying from an untreated, unmonitored heart ailment. Furthermore, the number of deaths from cardiac disorders outnumbers COVID-19 patients. Patients may be more hesitant to enter a hospital now than ever before, while cardiac monitoring is more vital than ever. Furthermore, those in remote areas experience greater difficulties in getting to the doctor because they may not have access to at least one cardiologist. In the event of an emergency, interns, and practitioners are taught how to use cardiac monitoring devices.
This has boosted the demand for ambulatory cardiac monitoring devices. However, in order to limit the infection, strict controls for travel, manufacturing, supply chain, and trade have hampered the creation and dissemination of such gadgets.
Because of the hazard of coronavirus to heart patients, there has been a significant drop in admissions for cardiac arrest and failure. Furthermore, there is mounting evidence that COVID-19 has critical and perhaps long-term cardiac effects, potentially leading to a new crisis in heart failure patients. As a result, demand for ambulatory cardiac monitoring equipment is hampered at this moment. The global ambulatory cardiac monitoring devices market is likely to increase after COVID-19, thanks to rising immunization rates in many countries and advances in medicine and drug development.
Market Estimation:
The global market for ambulatory cardiac monitoring devices has been split by type and geography. ECG devices, Holter monitors, event monitors, implantable loop recorders, and mobile cardiac telemetry are several types of ambulatory cardiac monitoring devices available. ECG devices are divided into two categories: resting ECG and stress ECG.
The ECG devices segment had the greatest market share, and this trend is expected to continue throughout the forecast period. In Singapore, government backing is a major driver of the ECG devices market. Medical device exports and utilization are increasing as the domestic market and foreign investment expanded.
North America, Europe, Asia Pacific, and the Rest of the World make up the cardiac monitoring devices market. North America held the highest share of the market for cardiac monitoring devices in 2021. The rising incidence of CVD, rising healthcare expenditure, rising disposable income, rising healthcare awareness, and the availability of technologically advanced gadgets in the region all contribute to this market segment's substantial share.
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Key Players:
The major players are Medtronic, Nihon Kohden Corporation, Philips Healthcare, Boston Scientific, Cardiac Science Corporation, BioTelemetry (Formerly CardioNet), Midmark Corp., SORIN GROUP, BIOTRONIK, Zoll Medical, St. Jude Medical, GE Healthcare, Mortara Healthcare, Spacelabs Healthcare, Schiller AG, Lifewatch AG, Edwards Life Sciences, and Others.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 29.15 Billion |
| Market Size by 2031 | US$ 45.91 Billion |
| CAGR | CAGR of 5.84% From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By type (ECG Method, Arterial Pressure Method, Photoelectric Method, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Cardiac Output Monitoring Devices) • By Product (Hospitals, Clinics, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Medtronic, Nihon Kohden Corporation, Philips Healthcare, Boston Scientific, Cardiac Science Corporation, BioTelemetry (Formerly CardioNet), Midmark Corp., SORIN GROUP, BIOTRONIK, Zoll Medical, St. Jude Medical, GE Healthcare, Mortara Healthcare, Spacelabs Healthcare, Schiller AG, Lifewatch AG, Edwards Life Sciences, and Others. |
| DRIVING FACTORS | • The most common cause of death worldwide is cardiovascular disease (CVD). • Family history, Ethnicity, and Age are all important risk factors for CVD. • Tobacco use, high blood pressure (hypertension), high cholesterol, physical inactivity, diabetes, poor diets, and alcohol use are all risk factors. |
| Restraints | • There has been an increase in the incidence of disorders • The demand for CM and CRM devices is rising, as these devices can assist save patients who are at high risk of cardiac arrest. |
Ans:- The Cardiac Monitoring Devices Market size was valued at US$ 28.65 billion in 2022.
Ans:- The Cardiac Monitoring Devices Market is to grow at a CAGR of 5.8% over the forecast period 2023-2030.
The top key players in the cardiac monitoring device market are Medtronic, Nihon Kohden Corporation, Philips Healthcare, Boston Scientific, Cardiac Science Corporation, BioTelemetry (Formerly CardioNet), and Midmark Corp.
The Market is divided into two segments by type, by product.
Manufacturer and service provider, research institutes, university and private libraries, suppliers, and distributors.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Cardiac Monitoring Devices Market Segmentation, by type
8.1 ECG Method
8.2 Arterial Pressure Method
8.3 Photoelectric Method
8.4 Implantable Loop Recorders
8.5 Mobile Cardiac Telemetry Devices
8.6 Cardiac Output Monitoring Devices
9. Global Cardiac Monitoring Devices Market Segmentation, by Product
9.1 Hospitals
9.2 Clinics
9.3 Other
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11. Company Profiles
11.1 Medtronic
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Nihon Kohden Corporation
11.3 Philips Healthcare
11.4 Boston Scientific
11.5 Cardiac Science Corporation
11.6 BioTelemetry (Formerly CardioNet)
11.7 Midmark Corp.
11.8 SORIN GROUP
11.9 BIOTRONIK
11.10 Zoll Medical
11.11 St. Jude Medical
11.12 GE Healthcare
11.13 Mortara Healthcare
11.12 Spacelabs Healthcare
11.15 Schiller AG
11.16 Lifewatch AG
11.17 Edwards Life Sciences
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
13. Conclusion
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Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
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By Type
ECG Method
Arterial Pressure Method
Photoelectric Method
Implantable Loop Recorders
Mobile Cardiac Telemetry Devices
Cardiac Output Monitoring Devices
By Product
Hospitals
Clinics
Other
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
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Company Information
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