Luton, Bedfordshire, United Kingdom, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Cardiac Monitoring Devices market.
Global Cardiac Monitoring Devices Market size was valued at USD 29.5 billion in 2020 and is expected to grow $43.34 by 2028 at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2028
Top Companies covered in Cardiac Monitoring Devices market are Medtronic, Abbott, Boston Scientific Corporation, GE Healthcare, BIOTRONIK, and Koninklijke Philips N.V.
A cardiac event monitor is a device used to record the heart's electrical activity (ECG) and keeps track of the heartbeat and rhythm. Important heart health data can be tracked, recorded, and sent to patients’ doctors using a cardiac monitoring gadget, which reduces the need for frequent visits to the doctor's office, allowing the care team to monitor patients’ heart health from a distance.
In terms of revenue, cardiac rhythm management devices conquered the market with around 68.3% share in 2019. The high share is attributable to the introduction of technologically advanced cardiac rhythm management devices such as fitness trackers and smartwatches, which can enhance Atrial Fibrillation (AFib) detection and screening.
The cardiac monitoring devices are further divided into implantable loop recorder (ILR), event monitors, ECG, mobile cardiac telemetry, and others. The Electrocardiography (ECG) segment dominated the cardiac monitoring devices market with around 34.4% share in 2019. Government initiatives, technological advancements, regional expansions, and commercialization of new products, are likely to boost the market for cardiac monitoring and cardiac rhythm management in the forthcoming years.
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Industry Insights:
Abbott:
In July 2021, Abbott launched the Jot Dx insertable cardiac monitor in the US market to detect irregular heart rhythms.
Medtronic
Medtronic Announces FDA Clearance and Results of Artificial Intelligence Algorithms for Cardiac Monitoring- Medtronic plc, the global leader in medical technology, today announced U.S. Food and Drug Administration (FDA) clearance for two AccuRhythm™ AI algorithms for use with the LINQ II™ insertable cardiac monitor (ICM).
Regional Insights:
The European Society of Cardiology on 21st April 2020, suggested that CVD patients are expected to show vulnerability in case of COVID-19 infection. It is challenging to predict the exact Coronavirus pandemic curve in the world. However, looking at the grim situation, especially in the U.S. and Europe, the peak demand for critical care equipment is anticipated to rise at an exponential rate in 2020.
North America dominated the market with a share of around 37.3% in 2020. The growth can be attributed to growing disposable income, increasing elderly population, rapid technological advancements such as long battery life, miniaturization, leadless or biocompatible materials, and improving rate of government regulatory approvals.
Asia Pacific is expected to exhibit lucrative growth in the market for cardiac monitoring and cardiac rhythm management over the forecast period. Increasing demand for a better healthcare system and huge untapped opportunities are propelling growth.
As a part of Cardiac Monitoring Devices market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2020-2021 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2028 |
| Regions Covered |
|
| By Type/function |
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| By Application |
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| CAGR (XX%) | 608 % (Current Market Analysis) |
| Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
| Delivery Format | PDF, and Excel through Email |
Browse Detailed Research Insights with TOC:
https://exactitudeconsultancy.com/reports/1508/cardiac-monitoring-devices-market/#report-details
Key benefits of the report:
-This study presents the analytical representation of the global Cardiac Monitoring Devices market along with the current trends and future estimates to determine the forthcoming investment pockets.
-The research report presents information related to key drivers, restraints, and opportunities along with thorough analysis of the global Cardiac Monitoring Devices market share.
-The current market is qualitatively and quantitatively analyzed from 2022 to 2028 to highlight the global Cardiac Monitoring Devices market business scenario.
-Porter’s five forces analysis illustrates the strength of buyers and suppliers in the market.
-The report provides a detailed global Cardiac Monitoring Devices market analysis based on competitive landscape.
Frequently Asked Questions about This Report:
- Who are the leading market players active in the Cardiac Monitoring Devices market?
- What the current trends will influence the market in the coming years?
- What are the driving features, restraints, and opportunities in the market?
- What are the predictions for the future that would help in taking further strategic steps?
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The expansion of the industry can be attributed to the rise in demand for monitoring devices used to measure, distribute, record, and display a variety of biometric data, including blood pressure, temperature, and blood oxygen saturation level. The main aim of these monitors is to give warning of early or dangerous deterioration in critically ill patients. Monitors are generally of two types, bedside monitors and remote monitors.
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Point-of-Care Diagnostics Market
The growing importance of POC diagnostics in environmental monitoring and public health also demands the integration of technologies that facilitate easy networking, further making it convenient for healthcare professionals to interpret test results accurately. Point-of-Care Diagnostics is medical diagnostic testing performed outside the clinical laboratory in close proximity to where the patient is receiving care.
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Cardiovascular Information System Market
Cardiovascular information systems offer an ideal workflow, which allows easy access of information to the staff for complete visibility of a patient's health history. These information systems enable to view current & historical images and data in multiple locations in real-time, which simplifies virtual cardiac care.
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