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Cardiac Monitoring Devices Market

Cardiac Monitoring Devices Market Size, Share & Segment 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), by Region | Global Market Forecast 2022-2028

Report Id: SNS/HC/1021 | May 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Cardiac monitoring devices market is expected to grow at a CAGR of 5.8% from 2022 to 2028, from USD 27.08 billion in 2021 to USD 40.19 billion in 2028. 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.

Cardiac monitoring devices market

Key Drivers/ RESTRAINTS: 

  • 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 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 Impact Analysis:

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 COVD-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.

Market Segmentation:

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

Cardiac monitoring devices market

Key Players

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.

REGIONAL ANALYSIS:

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.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The 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

Cardiac Monitoring Devices Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 27.08 Billion
Market Size by 2028 US$ 40.19 Billion
CAGR CAGR of 5.8% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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.


Frequently Asked Questions (FAQ) :

The cardiac monitoring device market was valued at USD 27.08 billion in 2021, with a projected increase to USD 40.19 billion by 2028.

North America held the highest share of the market for cardiac monitoring devices.

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

 

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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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining 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 universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

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Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

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