Wearable Ambulatory Monitoring Devices Market Analysis

Global Wearable Ambulatory Monitoring Device Market Overview

Wearable Ambulatory Monitoring Device Market Size was valued at USD 2.38 Billion in 2023. The Wearable Ambulatory Monitoring Device market industry is projected to rise from USD 2.57 Billion in 2024 to USD 4.47 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 7.14% during the forecast period (2024 - 2032).Increased cases of cardiovascular diseases and technological advancement in ambulatory devices, and the requirement for quick and precise diagnosis are the key market drivers enhancing market growth. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Wearable Ambulatory Monitoring Device Market Trends

• The growing frequency of cardiovascular diseases is driving the market growth

Market CAGR for wearable ambulatory monitoring devices is being driven by the rising frequency of cardiovascular diseases. The rising adoption of sedentary lifestyle is causing increased cases of diseases related to the heart. The post-pandemic scenario has increased awareness of the benefits of the adoption of ambulatory cardiac monitoring devices to monitor remote patient continuously. Technological advancement and its increased adoption by healthcare have led to an increase in requirement for wearable ambulatory monitoring devices globally.

The constant monitoring of patients with heart disease is crucial. Cardiac monitoring devices are important in monitoring patients and reducing heart failure and other risks. Over 795,000 Americans have a recurring or new stroke every year, among which 90% of strokes are because of modifiable risk factors, and 74% are due to behavioral risk factors. Wearable ambulatory monitoring devices can help in detecting these risk causes earlier with the physiological changes tracking in order to detect CVD early. Hence the increasing occurrence of CVDs is anticipated to fuel the demand for and use of ambulatory monitoring devices to create an environment favorable for the market to spread throughout the forecast period. There is increased innovatory development in wearable ambulatory monitoring devices, which will eventually enhance the growth of the market throughout the forecast period.

The ECG devices utilize electrical impulses to record heartbeats, then amplified and displayed on an ECG display. The detection of different heart diseases and arrhythmias is done using ECG, helping to choose the best treatment. With the use of portable ECG, electrocardiograms can be obtained. Different smart portable EKG monitoring devices are present like the EMAY Portable EKG Monitoring Device, which is tiny enough to fit in the pockets of people and are smartphone compatible. Thus, driving the Wearable Ambulatory Monitoring Device market revenue.

Wearable Ambulatory Monitoring Device Market Segment Insights

Wearable Ambulatory Monitoring Device Product Insights

The Wearable Ambulatory Monitoring Device market segmentation, based on product, includes ECG Devices, Holter Monitor, Event Monitors, Implantable loop Recorders, and Mobile Cardiac Telemetry. The ECG devices segment dominates the market, accounting for the largest market revenue owing to the rise in the incidences of cardiovascular disease & hypertension globally, along with the ease of access, better accuracy capabilities of the devices, and continuous monitoring. The mobile cardiac telemetry segment is anticipated to be the rapid growing during the forecast period as their demand is anticipated to grow owing to the growing preference for on-the-go monitoring devices.

Wearable Ambulatory Monitoring Device End User Insights

The Wearable Ambulatory Monitoring Device market segmentation, based on end users, includes Ambulatory Care Centers, Hospitals & Clinics, and Others. The hospitals & clinics segment dominates the market due to the growing incidence of cardiovascular disorders and the rising requirement for continuous supervision in critical cardiac situations. The ambulatory care centers segment is foreseen to grow at a fast rate throughout the forecast years because there is a in the population of geriatric people because people above 65 years of age are susceptible to heart-related conditions. The interests of geriatric people are catered by ambulatory care centers as they offer a more efficient, cost-effective, and convenient alternative to hospital-based outpatient procedures.

Figure 1: Wearable Ambulatory Monitoring Device Market by End User, 2023 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Wearable Ambulatory Monitoring Device Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Wearable Ambulatory Monitoring Device market dominates the monitoring market due to the presence of the key market players involved in collaborations and partnerships to fortify their market spot in this region. The presence of a well-structured rule framework and reimbursement scenario in the region boosts the market growth in the region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Wearable Ambulatory Monitoring Device MARKET SHARE BY REGION 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Wearable Ambulatory Monitoring Device market accounts for the second-largest market revenue due to the rising prevalence of cardiac disorders and governmental support in R&D . Further, the German Wearable Ambulatory Monitoring Device market held the largest market share, and the UK Wearable Ambulatory Monitoring Device market was the rapid growing market in the European region.

The Asia-Pacific Wearable Ambulatory Monitoring Device Market is expected to grow at the rapid CAGR from 2024 to 2032. This is due to the developing infrastructure of healthcare, rising occurrence of cardiovascular disorders, growing population, and rising disposable income. Moreover, China’s Wearable Ambulatory Monitoring Device market held the largest market share, and the Indian Wearable Ambulatory Monitoring Device market was the fastest-growing market in the Asia-Pacific region.

Wearable Ambulatory Monitoring Device Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Wearable Ambulatory Monitoring Device market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Wearable Ambulatory Monitoring Device industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Wearable Ambulatory Monitoring Device industry to benefit clients and increase the market sector. In recent years, the Wearable Ambulatory Monitoring Device industry has offered some of the most significant advantages to medicine. Major players in the Wearable Ambulatory Monitoring Device market, including Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Koninklijke Philips NV, Medtronic, Nihon Kohden Corporation, Fakuda Denshi, ZOLL Medical Corporation, BioTelemetry Inc, Biotronik, and others, are trying to increase market demand by investing in research and development operations.

Abbott Laboratories is a US company of healthcare, popular for its medical devices and nutritional products. The company specializes in diagnostics, cardiovascular, diabetes, and neuromodulation products. It also manufactures nutrition brands, including, Ensure, Pedialyte, Glucerna, and Similac. In July 2021, the launch of its latest implantable cardiac monitor (ICM), the Jot DX, was announced by Abbott Laboratories in the US. The Jot Dx ICM can be used by doctors and hospitals to view all abnormal cardiac rhythm data or use the 'Key Episodes' option to inform through an extraordinary feature that simplifies recorded arrhythmia rhythm. The remote detection of cardiac arrhythmias in patients is allowed by this technology and also enhanced diagnostic accuracy. A personalized service, SyncUp offers customized education and training to assist patients in connecting to and staying connected to the ICM, utilized by Jot Dx ICM.

The GE Healthcare is a medical technology and digital solutions innovator. The company provides clinicians to make faster, more known decisions via intelligent devices, data analytics, services, and applications, helped by its Edison intelligence platform. The company works for precise health, helping drive productivity and enhanced outcomes for patients, health systems, and researchers, and providers throughout the world. In June 2022, the launch of Portrait Mobile was announced by GE Healthcare, which is a wireless patient monitoring system that allows continuous monitoring throughout a patient's stay. The system assists clinicians in detecting patient deterioration. The early detection of deterioration in patients can help minimize the length of stay and intensive care unit (ICU) admissions and enhance patient outcomes.

Key Companies in the Wearable Ambulatory Monitoring Device market include

• Abbott Laboratories


• Boston Scientific Corporation


• GE Healthcare


• Koninklijke Philips NV


• Medtronic


• Nihon Kohden Corporation


• Fukuda Denshi


• ZOLL Medical Corporation


• BioTelemetry Inc


• Biotronik

Wearable Ambulatory Monitoring Device Industry Developments

May 2021:The chest monitoring devices and wearable continuous ambulatory blood pressure were launched by Biobeat.

January 2021:Preventive Solutions (US) Inc. was acquired by Boston Scientific Corporation to broaden its rhythm management diagnostics portfolio and capabilities. This acquisition will provide Boston Scientific with a foothold in the fast-growing ambulatory electrocardiography market.

February 2021:The acquisition of BioTelemetry Inc. was announced by Koninklijke Philips NV, which is a cardiac monitoring and diagnostics provider in the US. This is anticipated to strengthen Philips’ cardiac care product portfolio with the addition of Holter monitoring of BioTelemetry to short-term &long-term administration, event recorder solutions, and mobile cardiac outpatient.

Wearable Ambulatory Monitoring Device Market Segmentation

Wearable Ambulatory Monitoring Device Product Outlook

• ECG Devices


• Holter Monitor


• Event Monitors


• Implantable loop Recorders


• Mobile Cardiac Telemetry

Wearable Ambulatory Monitoring Device End User Outlook

• Ambulatory Care Centers


• Hospitals & Clinics


• Others

Wearable Ambulatory Monitoring Device Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America