Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
In recent years, the market trends of cardiac monitoring and cardiac rhythm management devices have seen significant development. People demand more advanced cardiac monitoring as healthcare evolves. cardiac monitoring technologies are used because cardiac problems are becoming increasingly widespread. These devices may help doctors monitor and treat various cardiac conditions in real time.
Modern technology is bringing new ideas to heart monitoring and rhythm regulation. Smartphones and fitness applications now feature heart health tracking capabilities for daily monitoring. These gadgets are using AI and machine learning to diagnose issues better. This detects issues early and customizes treatment.
Remote patient monitoring has become a focal point when looking at market trends for cardiac devices. Cardiac monitoring too has not been left behind by this situation accelerated by COVID-19 pandemic. Remote monitoring enables healthcare providers to monitor patients’ cardiac health away from clinical settings hence leading to timely interventions and better patient outcomes. This trend is particularly important for individuals with chronic heart conditions who need constant surveillance without making frequent trips to hospitals.
Patient-centered care is another notable advancement in this industry where manufacturers are targeting designing user-friendly, portable non-intrusive devices that can easily merge into patient’s daily lives. Patient centricity furthermore enhances experience while encouraging good adherence to compliance rules during the periodical check-ups only but also improves overall patient compliance rates thus enhancing outcomes.Furthermore,
The market for implanted cardiac rhythm control devices like pacemakers and ICDs is expanding. More advanced remote programming and control products have evolved. Moreover, miniaturization technology applied during production means that patients now receive less invasive implantation procedures, hence reducing the discomforts and recovery periods associated with them.
In terms of market segmentation, the Asia-Pacific region is emerging as a significant player in the cardiac monitoring and rhythm management devices market. This has been due to growing cases of cardiovascular diseases coupled with increased health care awareness and infrastructure development within the region. Additionally, collaborations and partnerships between international and local players are fostering innovation and market expansion in this dynamic region.
However, there are challenges such as high costs and reimbursement issues that hinder market growth. Especially in developing economies, affordability remains an issue for advanced cardiac monitoring devices as well as rhythm management ones. Therefore, addressing these challenges through cost effective solutions and strategic alliances is anticipated to enhance market accessibility as well as penetration.
Cardiac Monitoring advance technologies global Market Highlights:
Cardiac Monitoring and Cardiac Rhythm Management Device Market Overview
Cardiac Monitoring Advance Technologies Global Market Size was valued at USD 27.67 Billion in 2023. The Global Cardiac Monitoring Advance Technologies Global industry is projected to grow from USD 29.76 Billion in 2024 to USD 49.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.8% during the forecast period (2024 - 2032). The cardiac monitoring equipment aids in the observation of the patient's cardiac activity, while the cardiac rhythm management device assists patients with irregular heart rates and rhythm disorders maintain a normal cardiac rhythm. Heart failure, atrial fibrillation, atrial flutter, an indication of a recent heart attack, lack of oxygen delivery to cardiac muscle, and some genetic defects are among the major cardiac illnesses treated using these devices.
Medtronic officially unveiled Penditure Exclusion System Left Atrial Appendage (LAA) in the US in December 2023.
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.
Increased cardiac illnesses, changing lifestyles, technological improvements in cardiac devices, knowledge of cardiac disorders, healthcare programs, and an increase in the number of unmet medical requirements in both developed and developing countries have all contributed to the market's expansion. During the forecast period, however, the development of novel MRI-labeled devices and the growth of the Asia-Pacific economy are expected to drive the cardiac monitoring device market. Family history, ethnicity, and age are all important risk factors for Cardiac Monitoring and Cardiac Rhythm Management Device Market. The use of tobacco, high blood pressure (hypertension), high cholesterol, obesity, physical inactivity, diabetes, poor diets, and alcohol use are all risk factors. There has been an increase in the incidence of diseases such as hypertension, diabetes, dyslipidemia, and obesity as a result of lifestyle changes, all of which contribute to the rising incidence of Cardiac Monitoring and Cardiac Rhythm Management devices around the world.
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.
Cardiac Monitoring and Cardiac Rhythm Management Device Market Segment
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Devices Outlook
- Pacemaker
- Biventricular Pacemaker
- Implantable Cardioverter Defibrillator
- Implantable Cardiac Loop Recorder
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Monitoring Devices Outlook
- Electrocardiogram (ECG)
- Telelectro-Cardiogram
- Wireless ECG
- Lead ECG Test
- Holter Monitor
- Event Monitor
- Implantable Loop Recorder
- Cardiac Output Monitoring Device
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Rhythm Management (CRM) Devices Outlook
- Defibrillators
- Implantable Defibrillators
- External Defibrillators
- Pacemakers
- Cardiac Resynchronization Therapy Devices
Cardiac Monitoring and Cardiac Rhythm Management Device End-User Outlook
- Hospital
- Home/Ambulator
- Others
Cardiac Monitoring and Cardiac Rhythm Management Device Region Outlook
America
- North America
- US
- Canada
- South America
Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Middle East and Africa
- Middle East
- 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.
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
