Market Trends of Global Cardiac Monitoring Industry
This section covers the major market trends shaping the Cardiac Monitoring Market according to our research experts:
ECG Monitor is Expected to Witness Healthy Growth Over The Forecast Period
ECG Monitors record the electrical signal from the heart to detect heart abnormalities. 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 by the key market players taking place in the ECG devices are likely to propel the market growth. For instance, in May 2022, AliveCor launched KardiaMobile Card. It is a credit card-sized, slimmest personal ECG device created to improve health outcomes and lower the price of cardiac treatment. A single-lead ECG of medical grade is delivered in 30 seconds via the KardiaMobile Card, which fits comfortably into any wallet.
Also, in November 2020, VitalConnect, Inc., a developer of remote and in-hospital wearable biosensor technology, launched its VitalPatch RTM cardiac monitoring solution. VitalPatch RTM monitors for 21 cardiac arrhythmias through a unique AI-based ECG analysis solution and captures data on four key vital signs, providing a thorough understanding of a patient's state.
Therefore, there is a growth in the ECG Monitor segment of the studied market over the forecast period.
North America is Expected to Dominate the Cardiac Monitoring Market Over the Forecast Period
North America is expected to dominate the market owing to factors such as the rising incidence of cardiovascular diseases, growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States.
The Centers for Disease Control and Prevention (CDC)'s article titled "Heart Disease Facts" published in September 2020, stated that every year about 805,000 Americans have a heart attack. With the increasing burden of heart disease, there is a need for the proper treatment and monitoring of cardiac diseases and hence are expected to show growth over the forecast period.
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. For instance, in July 2021 Abbott launched Jot Dx, the insertable cardiac monitor (ICM) in United States. This technology allows for remote detection and improved diagnostic accuracy of cardiac arrhythmias in patients.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
