Arrhythmia Monitoring Devices Market Overview
The MRFR research report suggests that the arrhythmia monitoring devices market is projected to cross a market size of over USD 8,087.4 Million at a CAGR of approximately 6.44% during the assessment timeframe.
Cardiac arrhythmia refers to a condition with an irregular heartbeat. The condition is also called cardiac dysrhythmia. The global arrhythmia monitoring devices market has witnessed enormous growth in recent times attributed to the ongoing development of smart cardiac monitors, rising usage of telecardiology, and the transportability of cardiac arrhythmia monitoring devices. On the other hand, high costs linked to remote cardiac arrhythmia monitoring are anticipated to impede the growth of the arrhythmia monitoring devices market over the forecasted era.
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The global arrhythmia monitoring devices market has been fragmented into several segments based on device type, application, end-user, and region.
Based on device type, the arrhythmia monitoring devices market is split into Holter monitor, implantable cardiac monitor (ICM), event monitor, mobile cardiac telemetry (MCT) devices, resting ECG, and others.
By application, the global market for arrhythmia monitoring devices is bifurcated into conduction disorders, premature ventricular contractions (PVC), bradycardia, ventricular fibrillation (V-fib), atrial fibrillation (A-fib), tachycardia, and others.
Based on end-user, the arrhythmia monitoring devices market is divided into home care settings, diagnostic centers, ambulatory surgery centers (ASC), hospitals & clinics, and others.
Arrhythmia Monitoring Devices Market Regional Analysis
The global arrhythmia monitoring devices market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The North American region is projected to lead the global arrhythmia monitoring devices market over the review timeframe. The regional market’s growth is being driven by the growing awareness created by several initiatives by private firms and governments. Furthermore, the growing number of collaborations between research labs and institutions will propel the regional market’s growth.
The European regional market for arrhythmia monitoring devices will likely secure the second position globally. The regional market’s growth is being driven by the occurrences of cardiac disorders across the region.
The Asia-Pacific regional arrhythmia monitoring devices market will record the highest growth rate over the forecasted era. The regional market’s growth is being driven by the increasing disposable income, developing healthcare infrastructure, rising integration of the latest technologies, increasing geriatric population, and availability of portable and home-based arrhythmia monitors.
The Middle East & African region is likely to witness steady growth given the presence of untapped market opportunities and limited access and healthcare affordability.
Arrhythmia Monitoring Devices Market Competitive Analysis
The arrhythmia monitoring devices market has an intensely competitive landscape. The players across the global market are adopting several strategies such as partnerships, mergers, and acquisitions. The list of leading players in the global arrhythmia monitoring devices market includes Biotronik (Germany), Nihon Kohden Corporation (Japan), Applied Cardiac Systems Inc. (US), BioTelemetry Inc. (US), Spacelabs Healthcare (US), GE Healthcare (US), Alive Cor Inc. (US), Medtronic plc (Ireland), Fukuda Denshi Co. Ltd (Japan), Abbott Laboratories (US), and several others.
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MediLynx Cardiac Monitoring, LLC, has announced MEDICALgorithmics S.A., its parent company, has a broad patent (US Patent No. 11,183,305) for full-disclosure (continuous) ECG streaming, analysis, and monitoring from a remote location.
RhythMedix, a medical device manufacturer, has introduced its next-generation wearable novel cardiac telemetry monitor equipped with a 4G cellular connectivity for arrhythmia detection. The latest RhythmStar refers to a device, which is subtly worn for extensive remote monitoring without needing an extra phone or communication device.
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