Arrhythmia Monitoring Devices Market Size Worth USD 15.33 Billion in 2032 | Emergen Research

Vancouver, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The global arrhythmia monitoring devices market size was USD 7.43 billion in 2022 and is expected to register a rapid revenue CAGR of 7.7% during the forecast period. Increasing use of tele cardiology, increasing portability and usability of cardiac arrhythmia monitoring devices, and innovative cardiac monitoring device development are major factors driving market revenue growth.

Heart arrhythmias can now be managed with various specialized medicines. These include implantable cardiac defibrillators, synthetic pacemakers, antiarrhythmic medications, and the ablation of damaged or defective heart tissue. However, it is crucial that the right diagnosis be made in a timely manner to enable a doctor to select the best course of care for a patient. Electrocardiogram (ECG) data from cardiac monitors can be used by the doctor to either confirm or rule out the existence of an arrhythmia.

The provision of patient care in homecare settings, clinics, outpatient centers, and outdoor care models has undergone revolutionary changes due to real-time heart disease monitoring. Physicians are now able to make more accurate treatment decisions due to the combination of diagnostic equipment and real-time patient monitoring platforms. The overall effectiveness of treatment has increased as a result, and patient morbidity brought on by delayed diagnosis has decreased.

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Field of cardiac monitoring has evolved with the rise of telemedicine and widespread use of smartphone technology. Furthermore, key players in the market introducing more sophisticated and networked cardiac arrhythmia monitoring equipment is also expected to drive market revenue growth during the forecast period. Limited adoption of telemetry technology is a key factor, which could restrain market revenue growth. Automatic event-activated recorders are exempt from these restrictions because these can capture both symptomatic and asymptomatic arrhythmias.

Depending on the setting, device might not record during specific symptomatic events or might trigger prematurely (false event). The device would trigger and record because of preprogrammed rhythm specifications. Insufficient memory on the device may also cause a bogus event to overwrite a genuine event that was previously recorded. One limitation of post-symptom looping devices is that the recorder may not be activated post-event since the arrhythmia may have terminated before it did.

Segment Insights

Type Insights:

On the basis of type, the global arrhythmia monitoring devices market is segmented into Electrocardiogram Monitors (ECG), Insertable Cardiac Monitors (ICM), holter monitoring devices, event recorders, smart wearable monitor, Mobile Cardiac Telemetry (MCT) devices, portable heart monitors, heartbeat measuring instruments, and others. The holter monitoring devices segment accounted for largest revenue share in the global arrhythmia monitoring devices market in 2022 due to rising use of holter monitoring devices for a prolonged amount of time to diagnose random symptoms in patients.

Application Insights

On the basis of application, the global arrhythmia monitoring devices market is segmented into atrial fibrillation, bradycardia, conduction disorders, premature contraction, tachycardia, ventricular fibrillation, and others. The atrial fibrillation segment is expected to account for significantly large revenue share in the global arrhythmia monitoring devices market during the forecast period due to increasing introduction of pipeline products.

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Regional Insights:

North America market accounted for largest revenue share in the global arrhythmia monitoring devices market in 2022 due to increasing approvals for arrhythmic monitoring devices by the U.S. FDA. In addition, region's strong healthcare infrastructure and rising use of cutting-edge cardiovascular solutions are also expected to drive market revenue growth of this region during the forecast period. According to the Centers for Disease Control and Prevention (CDC), by 2030, 12.1 million Americans will suffer from atrial fibrillation.

Europe market accounted for second-largest revenue share in the global arrhythmia monitoring devices market in 2022 due to increasing number of procedures performed. There were 29,444 isolated coronary artery bypass grafting procedures, 35,469 isolated heart valve procedures, and 843 assist device implantations including left, right, and biventricular assist devices as well as total artificial devices registered in Germany.

Scope of Research

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Major Companies and Competitive Landscape

The global arrhythmia monitoring devices market is fragmented, with large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective arrhythmia monitoring devices products.
Some of the major companies included in the global arrhythmia monitoring devices market report are:

• Abbott
• Medtronic Plc
• Biotronik
• AliveCor, Inc.
• General Electric
• ACS Diagnostics
• Koninklijke Philips N.V.
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Boston Scientific Corporation
• BioTelemetry
• BPL Medical Technologies
• RhythMedix
• MicroPort Scientific Corp
• Lepu Medical Technology
• Shree Pacetronix

Strategic Development

• In September 2022, Medtronic, the multinational healthcare technology company launched LINQ II Insertable Cardiac Monitor (ICM) system. This is the first and only ICM to be approved by the U.S. FDA for use in pediatric patients older than 2 who have irregular heart rhythms and need continuous, long-term monitoring.
• In November 2021, Cardiologs, a French medical technology startup specializing in heart diagnostics with Artificial Intelligence (AI) and cloud computing, acquired by Philips. With cutting-edge software, electrocardiogram analysis, and reporting services, the acquisition will enhance Philips' cardiac monitoring and diagnostics offering.

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For the purpose of this report, Emergen Research has segmented the global arrhythmia monitoring devices market on the basis of type, application, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)

• • Electrocardiogram Monitors (ECG)
  • Insertable Cardiac Monitors (ICM)
  • Holter Monitoring Devices
  • Event Recorders
  • Smart Wearable Monitors
  • Mobile Cardiac Telemetry (MCT) Devices
  • Portable Heart Monitors
  • Heartbeat Measuring Instruments
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Atrial Fibrillation
  • Bradycardia
  • Conduction Disorders
  • Premature Contraction
  • Tachycardia
  • Ventricular Fibrillation
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Diagnostic Centers
  • Homecare Settings

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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