Report Scope & Overview:
The Cardiac Monitoring Devices Market size was valued at US$ 28.65 billion in 2022 and is projected to reach US$ 44.98 billion in 2030, with a growing CAGR of 5.8% during the forecast period 2023-2030.
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.
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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 and save patients who are at high risk of cardiac arrest.
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.
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 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.
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.
Key Market Segmentation:
Arterial Pressure Method
Implantable Loop Recorders
Mobile Cardiac Telemetry Devices
Cardiac Output Monitoring Devices
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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.
Philips Healthcare-Company Financial Analysis
|Market Size in 2022||US$ 28.65 Billion|
|Market Size by 2030||US$ 44.98 Billion|
|CAGR||CAGR of 5.8% From 2023 to 2030|
|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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 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
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profiles
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
11.10 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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
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.
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.
We at SNS Insider have divided Primary Research into 2 parts.
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 the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
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