The market for cardiac monitoring devices is expected to grow from its current value of US$ 25 billion in 2023 to US$ 45 billion by 2033. The market for cardiac monitoring devices is anticipated to grow globally between 2023 and 2033 at a CAGR of 6%.
The electrical activity of the heart is monitored and recorded using cardiac monitoring devices, which are medical tools or gadgets. These tools are crucial for identifying and evaluating a variety of heart disorders, including arrhythmias, myocardial infarction, and other anomalies. They are essential in the early diagnosis and treatment of cardiovascular illnesses, assisting medical practitioners in giving precise diagnoses and effective treatment regimens.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭::https://www.factmr.com/connectus/sample?flag=S&rep_id=8802?PJ
Integration of heart monitoring devices with telemedicine platforms has gained momentum, enabling real-time monitoring and remote consultations with healthcare professionals. AI-driven algorithms are being developed to enhance the accuracy of heart rhythm analysis and detect abnormalities, further improving the efficacy of heart monitoring devices.
The move towards remote patient monitoring is another element boosting market revenue growth. Due to advancements in telemedicine, remote heart monitoring devices are growing in popularity. By using these devices, patients can monitor their heart rhythms at home instead of having to travel to the hospital.
An increase in patients with arrhythmias and significant technological advancements are driving the demand for holter monitoring devices. Additionally, they provide quick monitoring to improve patient compliance and treatment outcomes. The cost-effectiveness of holter monitors is a factor in revenue growth, which raises the adoption rate of procedures. They provide the advantage of cardiac rhythm treatment without interfering with a patient’s regular activities.
It is anticipated that the development of technologically advanced monitoring tools, such as wireless monitors that benefit from early detection, will accelerate industry growth. Due to longer life expectancies and ongoing technological improvements that have increased their capabilities and use, the use of heart monitoring devices has considerably increased in recent years.
𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲
• The global heart monitoring devices market is valued at US$ 25 billion in 2023.
• Worldwide sales of heart monitoring devices are predicted to rise at a CAGR of 6% from 2023 to 2033.
• Global heart monitoring device demand is set to reach a market value of US$ 45 billion by 2033.
• North America leads the global market with 40% share in 2023.
• Holter monitoring devices account for 50% share of the global market in 2023.
“Demand for heart monitoring devices in hospitals is being driven by increasing need for accurate and timely cardiac arrhythmia diagnosis as well as the availability of qualified healthcare professionals and specialized cardiac monitoring units. Easy accessibility of reimbursement policies for cardiac implants and growing usage of monitoring devices in response to an increase in hospitalizations are also driving market growth,” says a Fact.MR analyst
𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭
• Stryker Corporation
• Medtronic
• Bexen Cardio
• Zoll Medical Corporation
• Abbott Laboratories
• AliveCor, Inc.
• Boston Scientific Corporation
• GE Healthcare
• iRhythm Technologies, Inc.
• TZ Medical Inc.
• Biotronik, Inc.
𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐰𝐢𝐬𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
Will the United States Continue to Be a Major Market for Heart Monitoring Devices ?
Governmental efforts to treat cardiovascular diseases have increased.
The occurrence of cardiac arrhythmias is rising, telemedicine is being used more frequently, and there is an increase in demand for technology for remote cardiac monitoring in the US. The expansion of the industry is being fueled by an increase in government financing and programmes for the management and treatment of cardiovascular illnesses.
The increased usage of cutting-edge cardiovascular disease monitoring and diagnostic technologies is predicted to drive profitable market expansion in the United States. An increase in healthcare spending and an increase in disposable income are further variables impacting market expansion.
𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲
According to this latest study by Fact.MR, a market research and competitive intelligence provider, key manufacturers are focusing on developing compact, lightweight, and wearable heart monitoring devices to enhance patient comfort and compliance. To create cutting-edge technology and increase their revenue shares, major firms are spending on R&D.
For instance,
• In 2020, a direct-to-patient telecardiology service was introduced by Coala Life. The product is an electrocardiogram (ECG) monitor that runs on a smartphone without a patch and can identify the most prevalent cardiac arrhythmias in real-time.
𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐇𝐞𝐚𝐫𝐭 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭
• By Type:
• Electrocardiogram (ECG) Monitors
• Insertable Cardiac Monitors (ICM)
• Holter Monitoring Devices
• Event Recorders
• Mobile Cardiac Telemetry (MCT) Devices
• Smart Wearable Monitors
• Portable Heart Monitors
• Heart Beat Measuring Instruments
• Others
• By Application:
• Bradycardia
• Tachycardia
• Arrhythmia
• Atrial & Ventricular Fibrillation
• Others
• By End User:
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Home Care Settings
• By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫
Fact.MR, in its new offering, presents an unbiased analysis of the global heart monitoring devices market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the heart monitoring devices market based type (electrocardiogram (ECG) monitors, insertable cardiac monitors (ICM), holter monitoring devices, event recorders, mobile cardiac telemetry (MCT) devices, smart wearable monitors, portable heart monitors, heart beat measuring instruments, others), application (bradycardia, tachycardia, arrhythmia, atrial & ventricular fibrillation, others), and end user (hospitals & clinics, ambulatory surgical centers, home care settings), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬:https://www.factmr.com/connectus/sample?flag=RC&rep_id=8802?PJ
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