According to the analysis by Reports and Data, the Global Cardiac Monitoring Market size was valued at USD 19.71 billion in 2019 and is anticipated to reach USD 26.83 billion by 2027 registering a CAGR of 3.9%. Cardiac monitoring is a continuous or intermittent monitoring of the heart, which is examined using ECG. The rise in heart-related diseases, obesity, growing elderly population, lifestyle changes, consumption of alcohol, and the advancements in the healthcare sector are factors boosting the cardiac monitoring market.
Key players of the cardiac monitoring market include:
- Medtronic (Ireland)
- Boston Scientific (U.S.)
- Abbott Laboratories (U.S.)
- GE Healthcare (U.S.)
- BIOTRONIK (Germany)
- Hill-Rom Holding (U.S.)
- Koninklijke Philips (Netherlands)
- Livanova (U.K.)
- Schiller AG (Switzerland)
- Biotelemetry (U.S.)
- Applied Cardiac System (U.S.)
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WHO reported that the rise in heart related diseases is the leading cause of death globally. Cardiac diseases cause the death of an estimated 17.9 million people each year. Cardiac monitoring is one of the best options for tracking various heart dysfunctions. Obesity affects vascular health and leads to a higher risk of cardiovascular disease. Obesity result in an increase in blood volume and cardiac output and these changes elevate stress on arterial wall, vessel wall thickness and diameter, smooth muscle cell proliferation, and eventually lead to heart-related disorders. Unfortunately, WHO estimates that in 2019, nearly 38.2 million children under the age of 5 were overweight or obese. The prevalence is expected to grow steadily, leading to increasing incidences of heart-related disorders, thus stimulating the demand in the cardiac monitoring market.
Besides the larger target population, favorable reimbursement policies is another major factor driving the cardiac monitoring market. North America dominated the cardiac monitoring market in 2019, with a revenue of USD 8.69 billion. Due to the higher occurrence of obesity and related heart problems, and the adoption of developed technologies, the region is expected to remain dominant over the coming years. Development of advanced products in the field is another major driving factor enhancing market growth. For instance, in March 2020, QT Medical, a U.S.-based company, launched a home ECG test that offers a cost-effective alternative for skilled nursing facilities and telehealth service providers. However, high expenditure of diagnosis, treatment, and strict regulatory product approval procedures are the primary restraint to this market.
The COVID-19 Impact:
The pandemic outbreak of COVID-19 is expected to stimulate the market for cardiac monitoring. The virus attacks the respiratory system of the body leading to altered cardiac activity. Thus, it is important to monitor the vital signs or cardiac monitoring for any arrhythmia. Also, patients with heart-related disorders are vulnerable to infection leading to high concern. To maintain the appropriate supply-demand balance, various regulatory bodies have eased guidance for the clearance of cardiac monitoring products. For instance, the FDA granted VitalConnect with Emergency Utilization Approval (EUA) to monitor cardiac activities in COVID-19 patients.
Additionally, researchers are working to develop desirable treatments by launching new drugs or extending applications of existing drugs such as antimalarial or anti-retroviral drugs. Besides, the development of remotely monitoring products to continue the diagnosis of vital signs for critical patients as well as infected patients and avoid accidental infection by market players is estimated to enhance the growth further.
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For the purpose of this report, Reports and Data has segmented the Cardiac monitoring Market on the basis of types, end-use, and region:
Type Outlook (Revenue in Million USD; 2017–2027)
- ECG devices
- Product
- Resting ECG Devices
- Stress ECG Devices
- Holter Monitors
- Lead
- Single Lead ECG Wires
- ECG Lead Wires
- Others
- Event Monitors
- Product
- Pre Symptom Loop
- Post Symptom Loop
- Technology
- Auto Detect
- Manual Detect
- Cardiac output monitoring
- Invasive Cardiac Output Monitoring
- Non-Invasive Cardiac Output Monitoring
- Implantable Loop Recorders
- Mobile Cardiac Telemetry Monitoring(MCT)
- Smart wearable ECG monitors
- Cardiac Rhythm Monitors
- Defibrillators
- Implantable Cardioverter Defibrillators
- External Defibrillators
- Pacemaker
- Defibrillators
- Product
- Product
End-Use Outlook (Revenue in Million USD; 2017–2027)
- Hospitals
- Clinics
- Ambulatory Surgical Centers,
- Home Care Settings
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Regional Outlook (Revenue in Million USD; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
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