Vancouver, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) -- The Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market will be worth USD 29.32 Billion by 2027, according to the current analysis by Emergen Research. The growth of this market can be attributed to the presence of favorable reimbursement policies. Favorable government regulations, such as funds and grants for the research on cardiac monitoring, are expected to drive the market's growth.
Unhealthy lifestyle habits, greater exposure to stress, and rapid urbanization in emerging economies are most likely to increase the incidences of cardiovascular disorders, leading to the rising adoption of cardiac monitoring & cardiac rhythm management devices. There is an increase in the adoption of ambulatory and home services among patients suffering from cardiovascular disorders due to the ease of treatment and cost-effectiveness of services.
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The high cost of cardiac monitoring & cardiac rhythm management devices and the stringent regulatory framework regarding product approvals are expected to hamper the demand for cardiac monitoring & cardiac rhythm management devices over the forecast period.
Key Highlights From The Report
- In February 2019, GE Healthcare formed a partnership with Preventice Solutions to give clinician tools to follow patients with known or suspected Atrial fibrillation virtually from hospital to home.
- The ECG devices segment held the largest market share of 48.8% in 2019. The increasing need among patients with strokes, heart attack, and arrhythmias for continuous heart rate monitoring has increased the utilization of ECG devices.
- The Defibrillators segment is predicted to grow with the fastest CAGR of 4.4% over the forecast period. The increasing adoption of automated external defibrillators is expected to drive the demand for defibrillators.
- The Hospital segment is estimated to be the fastest-growing segment over the forecast period due to the increasing initiatives of the hospitals to improve patient care.
- North America accounted for the largest market share of the Cardiac Monitoring & Cardiac Rhythm Management Devices Market in 2019 due to increasing incidences of cardiovascular diseases among the rising geriatric population in the region.
- Key participants include Medtronic PLC, GE Healthcare, Abbott Laboratories, Koninklijke Philips N.V., Boston Scientific Corporation, Biotronik, Hill-Rom Holdings, Inc., Asahi Kasei Corporation, Microport Scientific Corporation, and Nihon Kohden Corporation, among others.
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Emergen Research has segmented the Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market on the basis of type, product, end-user, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Mobile Cardiac Telemetry Devices
- Implantable Loop Recorders
- Event Monitors
- ECG Devices (Stress ECG Devices, Resting ECG Devices, Holter Monitors)
- Cardiac Output Monitoring Devices
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Pacemakers (External Pacemakers and Implantable pacemakers)
- Defibrillators (External Defibrillators and Implantable Cardioverter Defibrillators)
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Clinics, Ambulatory Surgery Centers, and Cardiac Centers
- Hospitals
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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