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

The North American Cardiac Monitoring market is segmented by Device Type, End User (Hospitals and Clinics, Home Care Settings, and Ambulatory Surgical Centers), and Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 4.5 %

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Market Overview

The North American Cardiac Monitoring market is expected to register a CAGR of nearly 4.5% during the forecast period.

The North American cardiac monitoring market is driven by an increased burden of heart diseases, the aging population, coronary heart diseases, and technological developments in cardiac monitoring devices that reduce the chances of infection, while improving the efficiency of devices. According to the American Heart Association (AHA), cardiovascular diseases account for 17.3 million deaths per year. The Centre for Disease Control and Prevention states that about 610,000 people die due to heart diseases in the United States every year, i.e., 1 in every four deaths can be attributed to cardiovascular diseases (CVDs). The rate of diagnosis for cardiovascular diseases has been increasing since the past few years, owing to advanced monitoring capabilities of several health parameters related to heart. Such factors, in accordance with cardiovascular diseases, are driving the market’s growth.

Scope of the Report

Continuous cardiac monitoring is an important tool for the clinical assessment of patients, with a variety of conditions. It allows the detection of changes in heart rate and rhythm, and is essential for detecting 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, which are covered under the scope of 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 User
Hospitals and Clinics
Home Care Settings
Ambulatory Surgical Centers
Geography
North America
United States
Canada
Mexico

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Key Market Trends

The ECG Monitor Segment is Poised to Dominate the North American Cardiac Monitoring Market

Long-term ECG monitoring is necessary for a growing population of patients with cardiovascular diseases. With the increasing prevalence of cardiovascular diseases, the demand for the procedure increases. Generally, 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, such as 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 are driving the development of ECG devices, which are likely to propel the market’s growth.

Number of Deaths due to Cardiovascular diseases (Millions)

Competitive Landscape

The North American Cardiac Monitoring market is exceptionally fragmented. It consists of numerous large, medium, and small players. The multinational players account for a substantial share of the market, globally. The companies in the cardiac monitoring market are focusing on various growth strategies, in order to enhance their market presence. The growth strategies include mergers and acquisitions, partnerships, collaborations, geographical expansions, and new product launches. For instance, in October 2017, Abbott received the US Food and Drug Administration (FDA) clearance for the Confirm Rx™ Insertable Cardiac Monitor (ICM).

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 Rising Burden of Cardiovascular Diseases

      2. 4.2.2 Advancements in 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 Forces 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 User

      1. 5.2.1 Hospitals and Clinics

      2. 5.2.2 Home Care Settings

      3. 5.2.3 Ambulatory Surgical Centers

    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

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Biotronik

      3. 6.1.3 Biotelemetry

      4. 6.1.4 Boston Scientific Corporation

      5. 6.1.5 GE Healthcare

      6. 6.1.6 Hill-Rom Holdings Inc.

      7. 6.1.7 iRhythm Technologies Inc.

      8. 6.1.8 Livanova Plc

      9. 6.1.9 Medtronic plc

      10. 6.1.10 Schiller AG

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

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

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Frequently Asked Questions

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

The North America Cardiac Monitoring Market is growing at a CAGR of 4.5% over the next 5 years.

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

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