MicroPort CRM announced the entry of ULYS Implantable Cardioverter Defibrillator (ICDs) and INVICTA defibrillation lead into Japan market, seeking to augment their global product offering range in October 2023.
The most recent innovation from Boston Scientific has showcased the LUX-Dx II+ insertable cardiac monitor (ICM) device. This is a cutting-edge system that ensures more extensive arrhythmias monitoring for conditions such as atrial fibrillation (AFib), cryptogenic stroke, and syncope, among others.
During May 2023, Medtronic plc declared receipt of United States Food and Drug Administration (FDA) approval for Micra AV2 and Micra VR2 being next-generation iterations of their top-rated miniaturized, leadless pacemakers. The approval can enhance the company’s cardiac rhythm management devices portfolio and create higher sales.
In 2023, Boston scientific received FDA clearance and launched the next-generation LUX-Dx II/II+ICM system designed for long-term monitoring of arrhythmias.
Abbott rolled out Asert-IQ, a Bluetooth-enabled implantable cardiac monitoring for long-term heart rhythm observations, in May 2023.
Abbott on April 2022, announced that the Aveir single-chamber (VR) leadless pacemaker had been given a nod by ASEAN authorities. It means a great leap forward both for sufferers of slow heart rhythms in America specifically and patient care generally because this approval introduces new features that patients have never seen before while treating this condition or dealing with doctors trained to address it.
Boston Scientific Corporation reached an agreement with Baylis Medical Company Inc. on advanced transseptal access solutions as well as guidewires, sheaths, and dilators used for catheter-based left-heart procedures in February 2022.
Segmentation
The global cardiac monitoring and cardiac rhythm management device market is segmented into types of cardiac devices, types of cardiac monitoring devices, types of cardiac rhythm management devices, and end-users. Further, the types of cardiac devices are segmented into pacemaker, biventricular pacemaker, implantable cardioverter defibrillator, and implantable cardiac loop recorder. Based on the types of cardiac monitoring devices the market is further segmented into electrocardiogram (ECG), Holter monitor, event monitor, implantable loop recorder, and cardiac output monitoring devices. Electrocardiogram (ECG) is further sub-segmented into telelectro-cardiogram, wireless ECG, and lead ECG test. Based on types of cardiac rhythm management devices, the market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices. Defibrillations are further sub-segmented into implantable defibrillators and external defibrillators. Based on end-user the market is segmented into hospitals, ambulatory surgical centers, and others.
Regional Market Summary
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The market of cardiac monitoring and cardiac rhythm management device in the Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada. The European cardiac monitoring and cardiac rhythm management device market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The market of cardiac monitoring and cardiac rhythm management device in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The cardiac monitoring device market in the Middle East and Africa has been segmented into the Middle East and Africa.
In terms of market value, North America will dominate the global cardiac monitoring and cardiac rhythm management device market during the forecast period. The increasing investment by North America in cardiac devices over the last few years has led to the growth of the market in this region. Increasing number of cardiac patients, better healthcare infrastructure, and advanced technology in cardiac monitoring equipment have boosted the market of cardiac monitoring and cardiac rhythm management device in North America. The European market is expected to be the second-largest cardiac monitoring device market.
The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, a growing number of surgeries due to the changing lifestyle is contributing to the growth of the market in this region. Asia-Pacific is expected to be the fastest-growing cardiac monitoring device market during the forecast period owing to the increasing prevalence of cardiac diseases, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving strong competition in the global cardiac monitoring device market by producing cost-effective products that are high in demand in local as well as global markets. The market in the Middle East and Africa is expected to account for the smallest share in the global cardiac monitoring device market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Key Players
Some of the key players in the global cardiac monitoring and cardiac rhythm management device market are Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.
America
Europe
Asia-Pacific
Middle East and Africa
Recent Development
November 2023: Medtronic announces the launch of its new Micra AV ICD, the world's smallest fully implantable pacemaker and defibrillator. The Micra AV ICD is designed to provide patients with a more comfortable and discreet way to manage their heart rhythm disorders.October 2023: Abbott launches its new Navistar ablation catheter for the treatment of atrial fibrillation. The Navistar catheter is designed to provide physicians with greater control and precision during ablation procedures.September 2023: Boston Scientific announces the launch of its new VertaFlex peripheral vascular intervention (PVI) catheter. The VertaFlex catheter is designed to provide physicians with a more flexible and maneuverable option for treating peripheral vascular disease.August 2023: Biotronik announces the launch of its new CardioMessenger Neo remote monitoring system for cardiac rhythm management devices. The CardioMessenger Neo system is designed to provide clinicians with real-time data on patient status, and to alert them to any potential problems.July 2023: Philips Healthcare announces the launch of its new IntelliVue X3 anaesthesia monitor with integrated cardiac rhythm management capabilities. The IntelliVue X3 monitor is designed to help clinicians monitor and manage patients with cardiac rhythm disorders more effectively.
| Report Attribute/Metric | Details |
| Market Size in 2032 | USD 49.38 billion |
| CAGR | 5.8% |
| Base Year | 2021 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Types and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott. |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | Increased cardiac illnesses increase in the number of unmet medical |
Cardiac Monitoring advance technologies global Market Highlights:
Frequently Asked Questions (FAQ) :
The Cardiac Monitoring and Cardiac Rhythm Management Device Market can expand at 5.8% CAGR by 2032.
Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.
increase in the number of unmet medical requirements
North America region is expected to be highly lucrative for the global Cardiac Monitoring and Cardiac Rhythm Management Device Market
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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