Cardiac monitoring refers to continuous or intermittent monitoring of heart activity. It is a device that measures and monitors the time, and the pressure of blood flow to the heart. Cardiac monitoring and cardiac rhythm management devices include devices, tools, and accessories that monitor each and every activity of the heart. This includes implantable devices as well as external devices, that are specifically designed to monitor the heart rhythm for example pacemakers or cardioverter defibrillators. These tools are commonly used in emergency rooms and critical care areas for continual observation of patients who are suffering from heart diseases. It allows the detection of changes in heartbeat rate, rhythm and is an essential tool for detection of life-threatening arrhythmias. Therefore, technological development in a healthcare monitoring device for better treatment of patients has given a positive impact for the growth of the global cardiac monitoring & cardiac rhythm management devices market over the forecast period of 2021-2031.
The global cardiac monitoring & cardiac rhythm management devices market is propelled by the increasing geriatric population and for the robust prevalence of cardiac disorders. Moreover, it is noted that continuous growing awareness among the patients and technological advancement for improving the healthcare monitoring devices are the important factor for making this market more demanding in the estimated period. Another prime issue which is driving the market is growing need for medical infrastructure in developing and immature countries like India, China, Brazil, and others. Adoption of new technology by the key players for developing a latest diagnostic device in an emerging economy is an essential factor fueling the growth of the global cardiac monitoring & cardiac rhythm management devices market. In addition to this, a robust government initiative for providing better care to their citizens and expansion of new MRI- branded devices are the opportunities for making the market more demanding in the near future.
The global cardiac monitoring & cardiac rhythm management devices market in the report is segmented by device type which includes electrocardiogram (ECG) devices, cardiac output monitoring devices, ventricular assist devices, packers, cardiac resynchronization therapy devices, and others. The electrocardiogram device type is further sub-segmented as stress ECG, resting ECG, ECG Holter monitors. ECG Holter monitors devices is sub-segmented by wired and wireless. Moving forward, cardiac output monitoring device type has been bifurcated into minimally invasive COM devices and non-invasive COM devices. Based on technology the market is analyzed as manual event monitors, and autodetect monitors. Furthermore, cardiac monitoring & cardiac rhythm management devices market is divided by end- user which includes hospitals & clinics, home settings, and ambulatory surgical centers (ASCS). Moreover, the global cardiac monitoring & cardiac rhythm management devices have been geographically segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Increasing number of infrastructure projects and fast-growing healthcare industries in Asia-Pacific, makes the region held the largest market share. Moreover, increasing investment by the key vendors for the development of medical devices with the help of technological advancement and low-cost treatment features are mainly driving the European and North America market. Rising prevalence of cardiac disorder and surging geriatric patient population in the U.S., Germany, Italy, and France, has therefore increased the demand for the cardiac monitoring & cardiac rhythm management devices in this region. Furthermore, the rapid growth of heart failure in countries like Brazil and Chile also creates a high demand for cardiac monitoring & cardiac rhythm management devices in Latin-America region. Likewise, new infrastructure projects and increasing investment in the manufacturing of medical devices fuels the growth of the diagnostic devices such as ECG devices and others in the Middle East and Africa region.
However, the high cost of devices and partial assurance coverage may impose a restriction on the growth of the global cardiac monitoring & cardiac rhythm management devices market.
Some of the major players in the global Cardiac Monitoring & Cardiac Rhythm Management Devices include Biomed, Inc., Berlin Heart GmbH, Biotronik SE & CO. KG, Boston Scientific Corporation, Cardiac Science Corporation, Hill-Rom Holdings, Inc., Jarvik Heart, Inc., Medtronic PLC, and Reliant Heart, Inc.
Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market: By Device Type
Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market: By Technology
Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market: By End- User
Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market: By Geography