Cardiac Monitoring Devices Market : Emerging Market Trends, Top Growing Segments and Future Developments
According to the new market research report Cardiac Monitoring Devices Market is projected to reach USD 26.8 billion by 2025 from USD 22.1 billion in 2020, at a CAGR of 4.0% from 2020 to 2025.
Browse and in-depth TOC on "Cardiac Monitoring and Rhythm Management Devices Market"
336 - Tables
40 - Figures
266 - Pages
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The growth of this market is driven by the increasing prevalence of
cardiovascular diseases; availability of reimbursement for CM & CRM
devices; launch of innovative products by market players; increasing
investments, funds, and grants for research on CM & CRM devices; and
the growing preference for wearable cardiac devices.
"North America commanded the largest share of the Cardiac Monitoring Devices Market in 2020."
On the basis of region, the Cardiac Rhythm Management Devices Market is
segmented into North America, Europe, Asia Pacific, and Rest of the
World. In 2019, North America commanded the largest share of the market.
The large share of this market segment can be attributed to the
increasing incidence of CVD, increasing healthcare expenditure, growing
disposable income, growing healthcare awareness, and the availability of
technologically advanced devices in the region.
"ECG Devices is expected to hold the largest share of the Cardiac Monitoring and Rhythm Management Devices Market in 2020"
On the basis of cardiac monitoring devices by type, the market is
segmented into ECG devices, event monitors, implantable loop recorders
(ILRs), cardiac output monitoring (COM) devices, mobile cardiac
telemetry (MCT) devices, and smart ECG monitors. In 2019, the ECG
devices segment accounted for the largest share of the market. The large
share of this segment can be attributed to technological advancements
such as the incorporation of advanced algorithms and workflow
improvement features, such as simplified operations, touchscreen
systems, portability, wireless features, and better connectivity with
cardiovascular information systems (CVIS), electronic medical records
(EMRs), and ECG management systems.
"Defibrillators is expected to hold the largest share of the cardiac rhythm management devices market in 2020"
On the basis of cardiac rhythm management devices by type, the market
is segmented into defibrillators and pacemakers. In 2019, the
defibrillators segment accounted for the largest market share. This
segment is also projected to register the highest CAGR during the
forecast period. Factors such as technological advancements in
defibrillators, rising prevalence of CVD, and growing focus on providing
public-access defibrillators are driving the growth of this market.
"Hospitals segment commanded the largest share of the Cardiac Monitoring and Rhythm Management Devices Market in 2020"
By end user, the cardiac rhythm management devices market is segmented
into hospitals; clinics, cardiac centers, and ambulatory surgery centers
(ASCs); and other end users. Hospitals accounted for the largest share
of the market in 2019. The large share of this segment can be attributed
to factors such as the increasing prevalence of CVD, the growing number
of patient visits to hospitals for diagnosis, increasing number of
cardiac implant procedures, and the availability of reimbursement for
these procedures across developed markets
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The major players operating in this Cardiac Monitoring and Rhythm Management Devices Market
are Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories
(US), GE Healthcare (US), BIOTRONIK (Germany), and Koninklijke Philips
(Netherlands), Asahi Kasei Corporation (Japan), MicroPort Scientific
Corporation (China), Hill-Rom Holdings (US), Nihon Kohden (Japan),
SCHILLER AG (Switzerland), BioTelemetry (US), BPL Medical Technologies
(India), ACS Diagnostics (US), Shenzhen Mindray Bio-Medical Electronics
(China), Lepu Medical Technology (China), Shree Pacetronix (India),
OSYPKA (Germany), and BTL t(US), Alivecor, Inc. (US), Amiitalia (Italy),
Bexen Cardio (Spain), Narang Medical Limited (India), MeTrax GmbH
(Germany), and Progetti Srl (Italy).
Key developments:
> In 2020, Abbott Laboratories launched Gallant implantable cardioverter defibrillator (ICD) in Europe.
>
In 2019, ZOLL Medical (an Asahi Kasei Group Company) acquired Cardiac
Science, a leading provider of automated external defibrillators (AEDs),
related services, and accessories. This acquisition strengthened ZOLL
Medical’s position in the AED segment.
> In 2018, BIOTRONIK has
become the exclusive US distributor for InfoBionic’s MoMe Kardia
external cardiac diagnostic monitor. This has helped the company expand
its product portfolio of cardiovascular solutions to support physicians
in providing the best care as fast and efficiently as possible.
>
In 2017, Nihon Kohden opened a sales branch in Kenya. This initiative
has helped the company to hold a strong customer base in the Middle East
and Africa region.
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