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The Market is segmented by Device Type, End-User (Hospitals and Clinics, Home Care Settings and Ambulatory Surgical Centers) and Geography
The key factors propelling the growth of the market is the growing incidences of cardiovascular diseases, advancements in the technology and the demand for home-based, point of care, and remote monitoring cardiac systems during the forecast period.
Coronary heart disease (CHD) is found to be the most common type of heart disease. According to the British Heart Foundation Centre in 2018, there are around 7.4 million people living with heart and circulatory diseases in the United Kingdom. More than 43,000 people under the age of 75 in the United Kingdom die from heart and circulatory diseases each year.
There is also an increase in the prevalence of obesity among adults and youth that is one of the leading cause for cardiovascular diseases, which in turn boosts the market growth. Thus as the incidence of cardiovascular diseases is increasing, the awareness of people about health is increasing, thus prompting people to search for easier and accessible diagnostics or treatment methods, such as cardiac monitoring devices, which are easy to use. Hence the market is expected to witness high growth due to the increase in cardiovascular diseases, over the forecast period.
As per the scope of the report, cardiac monitoring devices are used to monitor and diagnose various abnormalities or disorders of the heart and the overall cardiovascular system. Continuous cardiac monitoring is an important tool in the clinical assessment of patients with a variety of conditions. It allows the detection of changes in heart rate and rhythm and is essential in the detection of life-threatening arrhythmias. This is achieved using a cardiac monitor, connected to a cable lead and skin electrodes, which captures the electrical activity predominantly through a single view. There are various types of cardiac monitors available in the market.
|By Device Type|
|Implantable Loop Recorder|
|Cardiac Resynchronization Therapy (CRT) Devices|
|Smart Wearable Devices|
|Other Device Types|
|By End User|
|Hospitals and Clinics|
|Home Care Settings|
|Ambulatory Surgical Centers|
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It has been observed that every year cardiovascular disease (CVD) are found to cause 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). CVD accounts for 45% of all deaths in Europe.
As there is an increase in the incidence of cardiovascular diseases (CVD), long-term ECG monitoring is being required. Usually, this procedure is possible in hospitals. However, with the introduction of wireless ECG, the doctors can monitor and diagnose the patient remotely and on time. There are two different types of ECG monitors available in the market namely the monitoring ECG systems and diagnostic ECG systems.
The development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, is anticipated to drive the popularity of the ECG monitors segment, globally. Furthermore, technological advancements and product innovations taking place in the development of ECG devices are likely to propel the market growth.
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The Europe cardiac monitoring market is exceptionally fragmented and focused because of the presence of many large, medium, and small players. The multinational players possess a substantial share of the worldwide market. The companies in the cardiac monitoring market are focusing on various growth strategies, like M&A, partnerships, collaborations, geographical expansions, and new product launches to enhance their market presence.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidences of Cardiovascular Diseases
4.2.2 Advancements in the Technology
4.2.3 Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems
4.3 Market Restraints
4.3.1 Risk of Infection due to Implantable Monitoring Devices
4.3.2 Unfavorable Reimbursement Policies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 ECG Monitor
5.1.2 Event Recorder
5.1.3 Implantable Loop Recorder
5.1.6 Cardiac Resynchronization Therapy (CRT) Devices
5.1.7 Smart Wearable Devices
5.1.8 Other Device Types
5.2 By End User
5.2.1 Hospitals and Clinics
5.2.2 Home Care Settings
5.2.3 Ambulatory Surgical Centers
184.108.40.206 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Medtronic Plc
6.1.3 Boston Scientific Corporation
6.1.4 GE Healthcare
6.1.5 Philips Healthcare
6.1.7 Hill-Rom Holdings
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
* List Not Exhaustive