Selbyville, Delaware, March 23, 2022 (GLOBE NEWSWIRE) --
The cardiac arrhythmia monitoring devices market value is projected to reach USD 10.2 billion by 2028, according to a new research report by Global Market Insight Inc. Increasing number of advanced product launches with improved detection and portability features will fuel the overall industry growth.
As aging is one of the prominent factors affecting cardiac health of an individual, it is predictable to favor the product demand. In addition, obesity has consistently been associated with an increased risk for cardiovascular and metabolic diseases. Due to the high number of obese individuals, the chances of developing heart failures are increasing rapidly that will stimulate the industry scenario.
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Cardiac arrhythmia monitoring devices market size is anticipated to witness significant CAGR through 2028 driven by the innovations in monitoring devices leading to the introduction of convenient and easy to use wearable products. Existing as well as new industry players are concentrating on the development of small sized, light weight, and patient-friendly devices that allow remote monitoring of cardiac arrhythmia. Additionally, rising efforts to cater broader patient population with the development of improved infrastructure will foster the business outlook.
Some major findings of the cardiac arrhythmia monitoring devices market report include:
- Growing incidence of chronic cardiovascular diseases leading to arrhythmic conditions among adults will drive the market demand.
- Increasing prevalence of obesity and expanding baby boomer population will contribute to the disease prevalence rate.
- Rising awareness and adoption of advanced wearable and remote monitoring devices will fuel market size in the forthcoming years
- Product innovations leading to launch of novel devices will increase customer base of the operating companies.
- Advancements in healthcare technology to offer safe and effective disease monitoring will fuel the business landscape.
- With improved vaccination coverage and the availability of effective treatment, the number of COVID-19 cases were declined. This has led to continuation of cross-border as well as domestic business operations that will accelerate the overall industry demand.
Browse key industry insights spread across 150 pages with 215 market data tables & 14 figures & charts from the report, “Cardiac Arrhythmia Monitoring Devices Market Analysis, By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), Application (Tachycardia { Atrial Tachycardia, Ventricular Tachycardia}, Bradycardia, Premature Contraction), End-use (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings), Industry Analysis Report, Regional, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cardiac-arrhythmia-monitoring-devices-market
Electrocardiogram (ECG) monitor segment was valued at over USD 500 million in 2021 and is set to register a significant CAGR through 2028. Electrocardiogram (ECG) monitors are used to record the electrical signals emitted from the heart and are widely used for the measurement of heart rhythm to continuously monitor the cardiac health of patient. Thus, increasing prevalence of heart related diseases will propel the market expansion.
Cardiac arrhythmia monitoring devices market from tachycardia segment is anticipated to progress at 6.8% CAGR during the forecast period. Several patient monitoring devices such as ECG devices, Holter monitors, event recorders, or other portable monitors are recommended by healthcare professionals to diagnose specific types of tachycardia for proper disease management. Thus, with growing incidence of such conditions including atrial tachycardia, is projected to impel demand for cardiac arrhythmia monitoring devices.
Homecare settings segment is forecast to proceed at 7.4% CAGR during the analysis timeframe. Growing awareness regarding remote patient monitoring devices in developed and developing nations will drive the business outlook. Furthermore, the expansion and penetration of companies that develop portable cardiac devices allowing continuous monitoring at home settings will influence the customer preference. Therefore, introduction of such convenient, easy to use and accurate monitoring devices coupled with increasing disposable income will boost the industry landscape.
Asia Pacific cardiac arrhythmia monitoring devices market exceeded USD 1.2 billion in 2021 and projected to record a lucrative CAGR in the coming years. Rising patient population base and development of technologies including portable and mobile monitoring systems is expected to stimulate the market demand. Moreover, expanding availability of wearable, home‐based arrhythmia monitoring devices will generate the regional market revenue. In addition, business expansion by the leading as well as emerging industry players in the region owing to the high growth potential with broader patient population will spur the regional business landscape.
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Major players operating in the cardiac arrhythmia monitoring devices industry include Applied Cardiac Systems, AliveCor, Biotronik, Biotricity, GE Healthcare, iRhythm Technologies, Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, St. Jude Medical (Abbott Laboratories), Spacelabs Healthcare (OSI Systems, Inc.) and Welch Allyn (Hillrom Services, Inc.), among others. These players are implementing various strategies such as, collaborations, new product launches and partnerships to gain competitive advantage.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
