Middle East And Africa Cardiac Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.19 Billion |
| Market Size (2029) | USD 1.38 Billion |
| CAGR (2024 - 2029) | 3.22 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East And Africa Cardiac Monitoring Market Analysis
The Middle East And Africa Cardiac Monitoring Market size is estimated at USD 1.19 billion in 2024, and is expected to reach USD 1.38 billion by 2029, growing at a CAGR of 3.22% during the forecast period (2024-2029).
- COVID-19 had a significant impact on the growth of the market initially, as there were various lockdown restrictions imposed in the region. For instance, according to the study published by PubMed in April 2021, patients infected with COVID-19 were highly prevalent with cardiovascular diseases in Saudi Arabia. The major risk factors associated with these diseases in COVID-19 patients were pneumonia and increased length of stay in the hospital. This study suggested that COVID-19 patients were at higher risk of cardiovascular diseases, which expectedly led to more adoption of cardiac monitoring devices. Thus, the pandemic affected the market significantly in the initial phase. Also, during the post-pandemic period, the increasing adoption of cardiac monitoring in the Middle East and Africa region is expected to contribute to the growth of the market.
- The market is driven by an increase in the prevalence of heart diseases, a growing aging population who are very susceptible to coronary heart diseases, and improved efficiency of devices. Countries in the Middle East and Africa have a high incidence of cardiac diseases. The rate of diagnosis of cardiovascular diseases is increasing over time due to the high incidence rate of cardiac diseases and the need to control the mortality rate through early diagnosis and treatment for cardiovascular disease with the help of cardiac monitoring devices. Hence, a rise in the incidence of cardiovascular diseases drives the market.
- Moreover, according to the United Nations Population Fund's World Population Dashboard's Statistics 2022, in the United Arab Emirates, approximately 2% of the population of the country is aged 65 years and above. In addition, as per the same source, approximately 4% of the population of the country will be aged 65 years and above in 2022. As the geriatric population is prone to suffer from various chronic diseases such as cardiovascular diseases, the anticipated increase in population is expected to fuel the demand for patient monitoring. Other factors, such as investments in R&D for innovative product development, ease of use and portability in devices, and the demand for home-based, point-of-care, and remote monitoring cardiac systems, are the major drivers for the market.
- However, the rising rate of infections due to these devices has tremendous economic implications for hospitals.
Middle East And Africa Cardiac Monitoring Market Trends
ECG Monitor is Expected to Hold a Significant Share in the Cardiac Monitoring Market Over the Forecast Period
- The electrocardiogram (ECG monitor segment is expected to hold a significant share in the growth of the market over the forecast period due to the increasing incidence of cardiovascular diseases and technological advancements. The increase in the incidence of cardiovascular diseases (CVD) necessitates the need for long-term ECG monitoring in patients, which is the major factor driving the adoption of ECG monitors.
- For instance, according to an article published by PLOS ONE in December 2022, heart diseases and stroke are the first leading cause of death in Kuwait, and the suboptimal diet low in fruits, vegetables, whole grains, nuts, and seeds, and high in processed meats, red meats, and sugar-sweetened beverages (SSBs), contributes to the highest number of deaths from non-communicable diseases such as cardiovascular diseases. Such increasing cardiovascular disease risks are expected to contribute to the growth of the studied segment during the forecast period.
- Moreover, the geriatric population is often associated with an increased risk of cardiovascular diseases. Thus, the rising geriatric population in the region is a major factor that is expected to drive the adoption of ECG monitors. For instance, according to an article published by the International Institute on Ageing in February 2022, it is estimated that older adults in the Arab world are expected to increase in number and percentage of the general population. The source also stated that all MENA countries are likely to undergo marked changes from 2025, with those aged above sixty-four years representing the largest age group by 2050.
- Usually, ECG monitors are used in hospitals. However, with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely and on time. The increasing product launches of ECG monitors in the Middle East and Africa are expected to contribute to the growth of the studied segment. For instance, in July 2022, Huawei launched a wrist type of ECG and blood pressure monitoring device, the Watch D, in the United Arab Emirates (UAE).
- Thus, the above-mentioned factors, such as the increasing product launches, the rising geriatric population, and the rising prevalence of cardiovascular diseases, are expected to contribute to the growth of the studied segment during the forecast period.
GCC is is Expected to Hold a Significant Share in the Middle East and Africa Cardiac Monitoring Market Over the Forecast Period
- The Gulf Cooperation Council (GCC) comprises six countries: Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates (UAE), and Oman. Factors such as the growing burden of diseases in these countries, rising technological innovation, growing geriatric population, product launches, and strategic initiatives by market players, along with the increasing research and development expenditure, will drive the studied market growth during the study period.
- The increase in research and development expenditure and the presence of cardiac centers are also expected to drive the growth of the Middle East and African cardiac monitoring market. For instance, according to the data published by the Ministry of Health of Saudi Arabia in 2021, there are approximately 10 cardiac centers present in the country.
- Moreover, the prevalence of various risk factors for developing cardiovascular diseases and the rising geriatric population in the region is expected to drive the growth of the market in this region. According to an article published by the Obesity Society in September 2022, a research model was formed which predicted that 80.07% of female United Arab Emirates nationals will become overweight or obese and 60.19% will be obesity by 2070, and the population with abnormal eating behavior will increase to 15% by 2070. Such a prevalence of obesity is expected to drive the demand for cardiac monitoring in the GCC region, thereby contributing to the growth of the market.
Middle East And Africa Cardiac Monitoring Industry Overview
The studied market is moderately consolidated in nature and consists of a few major players. The companies have been following various strategies such as acquisitions, partnerships, investments in research activities, and new product launches to sustain themselves among the competitors in the market. The major players include GE Healthcare, Medtronic, Abbott Laboratories, Boston Scientific Corporation, etc. Some of the strategies implemented include agreements, collaborative models, business expansion, and product development.
Middle East And Africa Cardiac Monitoring Market Leaders
Boston Scientific Corporation
iRhythm Technologies Inc
Biotronik
Abbott Laboratories
Medtronic PLC
*Disclaimer: Major Players sorted in no particular order
Middle East And Africa Cardiac Monitoring Market News
- January 2023: UltraLinQ announced that they are going to launch new cardiac monitoring products at Arab Health 2023.
- May 2022: Tamer, the Middle East's healthcare company, partnered with Huma to bring a "hospitals at home" technology platform with remote patient monitoring for the people in Saudi Arabia. This health program will begin with support for patients with cardiovascular diseases.
- January 2022: UPOlife launched a new product, the UPOlife Wearable Biosensor Patch, at the Arab Health 2022. The UPOlife Wearable Biosensor Patch is a disposable medical-grade heart health monitoring device with internal data storage for up to 7 days.
MEA Cardiac Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 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
4.3 Market Restraints
4.3.1 Unfavourable Reimbursement Policies and Risk of Infection Due to Implantable Monitoring Devices
4.4 Porter's Five Forces 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 (Market Size by Value - USD)
5.1 By Device Type
5.1.1 ECG Monitor
5.1.2 Event Recorder
5.1.3 Implantable Cardiac Loop Recorder
5.1.4 Pacemaker
5.1.5 Smart Wearable
5.1.6 Other Device Types
5.2 By End-users
5.2.1 Hospitals and Clinics
5.2.2 Home Care Settings
5.2.3 Others End-users
5.3 Geography
5.3.1 GCC
5.3.2 South Africa
5.3.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Abbott Laboratories
6.1.3 Boston Scientific Corporation
6.1.4 GE Healthcare
6.1.5 Biotronik
6.1.6 iRhythm Technologies Inc
6.1.7 Baxter (Hill-Rom Holdings)
6.1.8 Schiller AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Middle East And Africa Cardiac Monitoring Industry Segmentation
Cardiac monitoring devices are used for the observation of cardiac activity. Continuous monitoring of the heart is mandatory to assess a patient's condition suffering from CVD. Cardiac monitoring devices record and display pressure and electrical waveforms of the cardiovascular system for measurement and treatment.
The Middle East and Africa cardiac monitoring market is segmented by device type (ECG monitor, event recorder, implantable cardiac loop recorder, pacemaker, smart wearable, other device types), end-user (hospitals and clinics, home care settings, and other end-users), and geography (GCC, South Africa and Rest of Middle East and Africa).
The report offers the value (in USD) for the above segments.
| By Device Type | |
| ECG Monitor | |
| Event Recorder | |
| Implantable Cardiac Loop Recorder | |
| Pacemaker | |
| Smart Wearable | |
| Other Device Types |
| By End-users | |
| Hospitals and Clinics | |
| Home Care Settings | |
| Others End-users |
| Geography | |
| GCC | |
| South Africa | |
| Rest of Middle East and Africa |
MEA Cardiac Monitoring Market Research FAQs
How big is the Middle East And Africa Cardiac Monitoring Market?
The Middle East And Africa Cardiac Monitoring Market size is expected to reach USD 1.19 billion in 2024 and grow at a CAGR of 3.22% to reach USD 1.38 billion by 2029.
What is the current Middle East And Africa Cardiac Monitoring Market size?
In 2024, the Middle East And Africa Cardiac Monitoring Market size is expected to reach USD 1.19 billion.
Who are the key players in Middle East And Africa Cardiac Monitoring Market?
Boston Scientific Corporation, iRhythm Technologies Inc, Biotronik, Abbott Laboratories and Medtronic PLC are the major companies operating in the Middle East And Africa Cardiac Monitoring Market.
What years does this Middle East And Africa Cardiac Monitoring Market cover, and what was the market size in 2023?
In 2023, the Middle East And Africa Cardiac Monitoring Market size was estimated at USD 1.15 billion. The report covers the Middle East And Africa Cardiac Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Middle East And Africa Cardiac Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Middle East and Africa Cardiac Monitoring Industry Report
Statistics for the 2024 Middle East And Africa Cardiac Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Middle East And Africa Cardiac Monitoring analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
