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Cardiac Monitoring & Cardiac Rhythm Management Devices Market Size to Reach USD 29.32 Billion in 2027 | Emergen Research

November 25th, 2021 Emergen Research Releases

Increasing incidences of cardiovascular disorders, development of new MRI-labeled devices, and rise in the use of ambulatory services for cardiac monitoring are some key factors expected to drive market growth

According to Emergen Research, the global cardiac monitoring & cardiac rhythm management devices market size was USD 21.75 billion in 2019 and is expected to reach USD 29.32 Billion in 2027 and register a revenue CAGR of 4.1% during the forecast period, 2020-2027.

Market Dynamics:

Cardiac rhythm management (CRM) devices are small battery-operated devices that are implanted in the body and connected to the heart. They assist with the monitoring and regulation of your heart rhythm. Implantable cardioverter defibrillators and pacemakers are the two most common types of cardiac rhythm management devices. Continuous cardiac monitoring help to detect irregular heartbeats that occur infrequently. It helps to recognize deteriorating conditions that may lead to a life-threatening arrhythmia and immediate recognition of cardiac arrest. Increasing awareness regarding benefits of continuous heart monitoring and technological advancements in cardiac monitoring and cardiac rhythm management devices (such as touchscreen systems) are major factors expected to positively impact market revenue growth.

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In addition, increasing incidence of heart failure, rising preference for remote monitoring and unhealthy diet habits are other factors expected to drive market revenue growth during the forecast period. According to recent report by World Health Organization (WHO), every year 17.9 million people die from cardiovascular diseases (CVDs), an estimated 32% of all deaths globally. Further, growing healthcare awareness, increasing healthcare expenditure, rising number of cardiac implant procedures and grants for research on CRM devices are other factors expected to boost market growth. However, high cost of cardiac monitoring devices, stringent government regulatory framework are factors that can hamper market growth to a certain extent during the forecast period.

COVID-19 Impact Analysis

  • Social distancing and restrictions severely disrupted businesses and operations
  • Lockdowns caused disruptions in transportation and logistics
  • Impacted manufacturing activities and mining operations globally
  • Took a toll on economy of various countries
  • Caused sudden and drastic downturn in economic activity
  • Disrupted agriculture, fisheries, dairy, and other sectors
  • Caused loss of employment and financial crisis
  • Supply impacts were further compounded owing to reduced disposable income
  • Emergence of variants continue to cause concerns and impact normal routines

Defibrillators Segment Revenue to Expand at a Rapid CAGR:

Defibrillators segment is expected to register a rapid revenue CAGR over the forecast period due to technological developments in defibrillators and large scale adoption of automated external defibrillators due to its advantages. AEDs (automated external defibrillators) are small, portable devices that can deliver an electric shock to a person’s heart. This shock helps the heart to return to a normal beating rhythm by analyzing abnormal electrical impulses.

Hospital Segment to Register Significant Revenue Growth:

Hospital segment is expected to register significant revenue growth over the forecast period owing to presence of favorable medical reimbursement policies, government initiatives to improve patient care, innovations in advanced cardiac devices and rise in number of patient visits due to increasing awareness of regular health checkups.

North America to Account for Largest Revenue Share:

North America is expected to account for largest revenue share in the global market over the forecast period due to increasing healthcare expenditure, availability of technologically advanced cardiac monitoring devices, and rising incidence of CVD.  Further, presence of favorable reimbursement policies, growing geriatric population and implementation of AI technologies are some other factors expected to contribute to market growth in the region.

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Major Companies in the Market Include:

  • Medtronic Plc
  • Ge Healthcare
  • Abbott Laboratories
  • Koninklijke Philips N.V.
  • Boston Scientific Corporation
  • Biotronik
  • Hill-Rom Holdings, Inc.
  • Asahi Kasei Corporation
  • Microport Scientific Corporation
  • Nihon Kohden Corporation

For the purpose of this report, Emergen Research has segmented the cardiac monitoring & cardiac rhythm management devices market on the basis of type, product, end use, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

  • Mobile Cardiac Telemetry Devices
  • Implantable Loop Recorders
  • Event Monitors
  • ECG Devices (Stress ECG Devices, Resting ECG Devices, Holter Monitors)
  • Cardiac Output Monitoring Devices

 Product Outlook (Revenue, USD Billion; 2017-2027)

  • Pacemakers (External Pacemakers and Implantable pacemakers)
  • Defibrillators (External Defibrillators and Implantable Cardioverter Defibrillators)

End Use Outlook (Revenue, USD Billion; 2017-2027)

  • Clinics, Ambulatory Surgery Centers, and Cardiac Centers
  • Hospitals
  • Other End Users

 

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends:   https://www.emergenresearch.com/industry-report/cardiac-monitoring-and-cardiac-rhythm-management-devices-market

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Turkey
    • Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research | Web: www.emergenresearch.com

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

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