Market Trends of Ambulatory Cardiac Monitoring Industry
This section covers the major market trends shaping the Ambulatory Cardiac Monitoring Market according to our research experts:
ECG Monitors is Expected to Hold a Significant Share in the Ambulatory Cardiac Monitoring Market Over the Forecast Period.
- As there is an increase in the incidence of cardiovascular diseases (CVD), long-term ECG monitoring is necessary, thereby contributing to the growth of the ECG monitor segment. Usually, this procedure is possible in hospitals. However, with the introduction of wireless ECG, doctors can monitor and diagnose patients remotely and on time. There are two different types of ECG monitors available in the market: ECG Monitors and diagnostic ECG systems.
- Several market players developed wireless ECG monitors. These devices can be used for continuously monitoring patients suffering from CVD and for detecting problems when they are usually easier to treat while avoiding life-threatening and expensive emergency admissions.
- Frequent product launches in the respective segment are one of the major factors driving the market. For instance, in October 2022, Dozee planned to launch an ambulatory electrocardiogram (ECG) path to monitor patients with cardiovascular disease. This easy-to-use ECG patch augments the company's artificial intelligence (AI)-powered remote patient monitoring system to play a vital role in assisting healthcare professionals in identifying early signs of cardiac disorders. Also, in January 2022, Philips launched a 12-lead electrocardiogram (ECG) solution for use at home in decentralized clinical trials in January 2022.
- Similarly, in September 2021, Vitsa Health, in partnership with CradioScan Lts, launched an innovative ambulatory ECG monitoring service that allows patients to self-refer to an ECG monitor and apply it from the comfort of their homes. Thus, the factors such as practical and long-term ECG monitoring coupled with frequent product launches are expected to drive the ambulatory cardiac monitoring market during the forecast period.
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North America is Expected to Dominate the Ambulatory Cardiac Monitoring Market Over the Forecast Period.
- The North American region is expected to witness significant growth due to the increasing prevalence of cardiovascular disease, growing technological advancements, rapid economic growth, and favorable government initiatives. For instance, the data published by Organization for Economic Co-operation and Development in 2021 mentioned that the geriatric population aged over 65 or over in the United States is 16.8%. Such an increase in the geriatric population leads to the rising demand for cardiac pacemakers, thereby contributing to market growth.
- Additionally, increasing product approvals and product launches are expected to reinforce growth prospects in the North American region over the forecast period. For instance, in January 2022, Medilynx cardiac monitoring received a broad patent in the United States for continuous ECG streaming, analysis, and monitoring from a remote location. Also, in May 2021, Vital Connect launched its latest cardiac monitoring patch, the VitalPatch RTM, for patients who require extended Holter monitoring.
- Furthermore, in July 2021, Abbot launched the JotDx, the company's insertable cardiac monitor, in the United States. The Jot Dx ICM gives clinicians and hospitals control over how they manage the flow of information through a unique feature to view heart conditions. Hence, the increasing prevalence of cardiovascular diseases, rising demand for effective ambulatory cardiac monitoring, and product launches are expected to drive market growth in this region during the forecast period.
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