Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "Global Cardiac Arrhythmia Monitoring Devices Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Cardiac Arrhythmia Monitoring Devices Market is estimated to reach US$ 9.03 billion by 2027. The report estimates that the market is expected to expand at a CAGR of 8.6% during 2021-2027.
Over the years, a range of cardiac arrhythmia monitoring devices has been developed to manage cardiac arrhythmias. Besides, cardiac arrhythmia monitoring devices are used to provide the physicians with data that can either affirm or rule out the existence of an arrhythmia. Further, fewer cardiac monitors and recorders increasingly used to give the patients more selective recording. In addition, with an impressive technological advancement, the global cardiac arrhythmia monitoring devices market is set to chart an enviable growth trajectory over the forecast period of 2021 to 2027.
Impact of COVID-19 on Growth Trends
The impact of COVID-19 has been unprecedented and staggering, with cardiovascular devices witnessing a negative demand shock across all areas amid the pandemic. Based on the analysis, the global demand saw a massive decline in 2019 compared to the expected average year-on-year growth. However, in 2021 the market gained its momentum with the sudden rise attributable to its demand and growth. Further, the development of the global market is driven by a significant increase in the prevalence of chronic heart diseases.
Worldwide Cardiac Arrhythmia Monitoring Devices Market Size was US$ 5.5 Billion in 2021
Factors driving the market growth include advances in cardiac arrhythmia monitoring devices, favorable rebates for treatment, expanding incidences of cardiovascular diseases. Apart from that, extending the emphasis on containment of healthcare costs, increasing the adoption rate of low-cost ECG services among the lower-income group, and favorable government policies for startup firms are some of the other factors.
Mobile Cardiac Telemetry Monitors Grow at the Highest Rate
In the report, by type, the analyst has covered ECG Monitors, Implantable Monitors, Holter Monitors, Mobile Cardiac Telemetry, and Others. As per the analysis, mobile cardiac telemetry monitor segments in the type category are anticipated to expand at the highest rate across the forecast period. Mobile cardiac telemetry monitoring devices monitor the electrical activity in the heart for an extended time. Moreover, the device can also detect, record, and wirelessly transmit asymptomatic and symptomatic arrhythmia to a monitoring station for analysis.
End-users Insights: Hospitals have the Dominant Market Share
Hospitals are the dominant end-users in the cardiac arrhythmia monitoring devices market. The rising prevalence of cardiac rhythm disorders has led to increased emergencies requiring continuous cardiac rhythm monitoring. In hospitals, healthcare professionals utilize cardiac rhythm monitors to analyze cardiac arrhythmia risk in critical situations. Remarkably, the need for constant cardiac rhythm monitoring in the emergency department will foster the market revenue.
Ventricular Tachycardia Foresees Tremendous Demand
As per the analysis, Atrial tachycardia constituted the most dominant market share throughout. Atrial tachycardia is a condition of supraventricular tachycardia (SVT) and is an actual condition reported in intensive care unit operations. Therefore, increasing the incidence of SVT will offer immense growth opportunities to cardiac arrhythmia monitoring devices in emergencies.
Asia Pacific, the Hotspots for Investment Opportunities
Asia Pacific countries like China, Japan, and India, are the hotspots for investment prospects because of the higher growth rate of diagnosis, treatment, research activities, quality improvisations, increasing partnerships, and healthcare modernization. To expand the revenue share, EGC monitoring device companies are focusing on the evolution of advanced ECG monitoring like implantable cardiac monitors and cardiac telemetry monitors with avant-garde facilities that will indirectly pump the market for cardiac arrhythmia monitoring devices and also promote the services and software market over the forecast period.
Competitive Landscape
The global key players manufacture the majority of cardiac arrhythmia monitoring devices. Key leaders with more funds for research and an adequate distribution system have established their position in the market. Moreover, the global market is witnessing an emergence of some small players due to the rise of awareness, further helping the market grow. The major players covered in the report include Abbott Laboratories, GE Healthcare, Koninklijke Philips N.V., Medtronic PLC, Asahi Kasei Corporation, Boston Scientific Corporation, HILL-ROM HOLDINGS, INC, and Nihon Kohden.
This research report provides a detailed analysis of Cardiac Arrthymia Monitoring Device Industry.
Type - Market has been covered from 5 viewpoints:
- ECG Monitors
- Implantable Monitors
- Holter Monitors
- Mobile Cardiac Telematory
- Others
End-user - Market has been covered from 8 viewpoints:
- Hospitals
- Clinics
- Laboratories
- LTC
- Homecare
- ASC
- Cathlabs
- EMS
Application - Market has been covered from 5 viewpoints:
- Tachycardia
- Atrial Tachycardia
- Ventricular Tachycardia
- Bradycardia
- Premature Contraction
Region - Market has been covered from 5 viewpoints:
- North America
- Latin America
- Europe
- Asia-Pacific
- Rest of the World
Key Players Analysis
- Abott Laboratories
- GE Healthcare
- Koninklijke Philips N.V.
- Medtronic PLC
- Asahi Kasei Corporation
- Boston Scientific Corporation
- Hill-Rom Holdings, Inc.
- Nihon Kohden
Company Insights:
- Business Overview
- Recent Developments
- Sales Analysis
For more information about this report visit https://www.researchandmarkets.com/r/2huz45
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