According to research report the cardiac monitoring devices market is expected to reach $30.56 billion by 2027 from $22.12 billion in 2019, at a CAGR of 4.0%. Factors such as the increasing incidence of cardiovascular diseases and technological advancements in devices are expected to propel the growth of the market.
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Objectives of the Study
• To define, describe, and forecast the cardiac monitoring market by product, end user, and region
• To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges)
• To analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze market opportunities for stakeholders and to provide details of the competitive landscape for market leaders
• To forecast the size of the cardiac monitoring market in North America, Europe, Asia, and the Rest of the World
• To profile key players and comprehensively analyze their core competencies
• To track and analyze competitive developments such as product launches, agreements, partnerships, and other developments in the cardiac monitoring and cardiac rhythm management devices market
Asia is expected to grow at the highest CAGR during the forecast period
On the basis of region, the CM & CRM devices market is segmented into North America, Europe, Asia, and RoW. Asia is expected to grow at the highest CAGR during the forecast period. Factors such as growth in the geriatric population, growing incidence of chronic diseases, rising healthcare spending, healthcare reforms for infrastructural development, growing demand for advanced technologies, and less stringent regulations are fuelling the demand for CM & CRM devices in this region.
Based on end user, the cardiac monitoring devices market is segmented into hospitals, home and ambulatory care settings, and other end users. In 2017, the hospitals segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the increasing use of these devices in hospitals, increasing burden of cardiovascular & coronary heart diseases, increasing number of patient visits to physician offices for the principal diagnosis of CVD & CHD, and growing number of cardiac implant procedures.
Based on product, the cardiac rhythm management devices market is segmented into defibrillators and pacemakers. The pacemakers segment is projected to grow at the highest CAGR during the forecast period.
Based on product, the cardiac monitoring devices market is segmented into ECG devices, ILR, event monitors, COM monitors, mobile cardiac telemetry, and smart wearable ECG monitors. The mobile cardiac telemetry segment is projected to grow at the highest CAGR during the forecast period.
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Cardiac Monitoring Devices Market Players
The cardiac monitoring devices market is dominated by players such as Medtronic (Ireland), Abbott (US), Boston Scientific (US), BIOTRONIK (Germany), GE Healthcare (US), and Philips Healthcare (Netherlands)