Cardiac Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cardiac Monitoring Market is segmented by Device Type, End-User (Hospitals and Clinics, Home Care Settings and Other End-users) and Geography

Market Snapshot

cardiac monitoring market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.2 %

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Market Overview

The cardiac monitoring market is expected to grow with a healthy CAGR of nearly 5.2 % during the forecast period. The cardiac monitoring market is driven by an increase in the prevalence of heart diseases, a growing aging population who are very susceptible to coronary heart diseases, technological developments in cardiac monitoring devices that minimize the chances of infection, and improved efficiency of devices.

According to the WHO reports, cardiovascular disease is one of the leading causes of death, worldwide. It is estimated that cardiovascular diseases take the life of 17.9 million people every year (31% of all global deaths). Furthermore, cardiac monitoring is one of the most reliable and efficient options for the monitoring of various cardiac conditions.

However, rising incidences of infection, high costs associated with the monitoring and stringent regulatory procedures are likely to restrain the growth of the global cardiac monitoring market over the forecast period.

Scope of the Report

As per the scope of the report, cardiac monitoring devices are used for observation of cardiac activity. Continuous monitoring of heart is mandatory to assess patient’s condition suffering from CVD. Cardiac monitoring devices records and display pressure and electrical waveforms of the cardiovascular system for measurement and treatment. There are various types of cardiac monitors available in the market.

By Device Type
ECG Monitor
Event Recorder
Implantable Cardiac Loop Recorder
Pacemaker
Defibrillator
Cardiac Resynchronization Therapy (CRT) Devices
Smart Wearable
Other Device Types
By End-users
Hospitals and Clinics
Home Care Settings
Others End-users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

ECG Monitor is Expected to Dominate the Cardiac Monitoring Market

Cardiovascular disease (CVD) like stroke and heart disease are the leading cause of death across the globe. The increase in the incidence of cardiovascular diseases (CVD), necessitates the need for long-term ECG monitoring. 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 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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North America is Expected to Hold the Largest Market Share in the Cardiac Monitoring Market

North American holds the leading position in the cardiac monitoring market. Especially countries, like the United States and Canada, owing to a drastic increase in the patient pool of cardiovascular diseases. As per the report from the American Heart Association on heart disease and stroke, in 2017, around 800,000 deaths occurred due to cardiovascular diseases.

Furthermore, continuous advancements in the technology, growing awareness in patients about cardiac monitoring, well-established healthcare infrastructure, and favorable reimbursement policies are expected to boost the cardiac monitoring market in the North America region.

In addition, the growing economies of Asia Pacific is also expected to show high growth owing to the rising number of cardiovascular disorders and increase in disposable income.

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Competitive Landscape

The 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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Incidences of Cardiovascular Diseases

      2. 4.2.2 Advancements in the Technology

      3. 4.2.3 Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems

    3. 4.3 Market Restraints

      1. 4.3.1 Risk of Infection Due to Implantable Monitoring Devices

      2. 4.3.2 Unfavourable Reimbursement Policies

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Device Type

      1. 5.1.1 ECG Monitor

      2. 5.1.2 Event Recorder

      3. 5.1.3 Implantable Cardiac Loop Recorder

      4. 5.1.4 Pacemaker

      5. 5.1.5 Defibrillator

      6. 5.1.6 Cardiac Resynchronization Therapy (CRT) Devices

      7. 5.1.7 Smart Wearable

      8. 5.1.8 Other Device Types

    2. 5.2 By End-users

      1. 5.2.1 Hospitals and Clinics

      2. 5.2.2 Home Care Settings

      3. 5.2.3 Others End-users

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Medtronic PLC

      2. 6.1.2 Abbott Laboratories

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 GE Healthcare

      5. 6.1.5 iRhythm Technologies Inc

      6. 6.1.6 Biotronik

      7. 6.1.7 Livanova

      8. 6.1.8 Hill-Rom Holdings

      9. 6.1.9 Schiller

      10. 6.1.10 Biotelemetry

      11. 6.1.11 Applied Cardiac System

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Cardiac Monitoring Market market is studied from 2018 - 2026.

The Cardiac Monitoring Market is growing at a CAGR of 5.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, Boston Scientific  Corporation, iRhythm Technologies Inc, Biotronik, Medtronic PLC are the major companies operating in Cardiac Monitoring Market.

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