Cardiac Arrhythmia Monitoring Devices Market: Information by Devices (Holter Monitor), Application (Bradycardia), End-User (Hospitals & Clinics), and Region-Forecast till 2029

Feb 18, 2021   The global cardiac arrhythmia monitoring devices market was estimated at USD 5,200 million in 2019 and is expected to grow at 6.7% CAGR during the forecast period. The Intensifying Prevalence of Cardiovascular Disease CVD is the leading cause of death worldwide, and nearly 30 million people suffer annually from a heart attack or stroke, as per the World Health Organization (WHO). Several risk factors such as family history, age, consumption of cigarettes, hypertension, high cholesterol, obes...
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The global cardiac arrhythmia monitoring devices market was estimated at USD 5,200 million in 2019 and is expected to grow at 6.7% CAGR during the forecast period.

Cardiac-Arrhythmia-Monitoring-Devices-Market

The Intensifying Prevalence of Cardiovascular Disease

CVD is the leading cause of death worldwide, and nearly 30 million people suffer annually from a heart attack or stroke, as per the World Health Organization (WHO). Several risk factors such as family history, age, consumption of cigarettes, hypertension, high cholesterol, obesity, physical sedentariness, diabetes, unhealthy diets, and excessive alcohol consumption are numerous risk factors contributing to CVD.

As per the American Heart Association, nearly half the adults in the U.S.suffer from CVD, and by 2035, it is projected to occur in more than 130 million people. People with severe CVD are at greater risk of cardiac arrhythmias, such as tachycardia and bradycardia, and need to be continuously monitored to avert acute heart failure. It is possible to avoid most forms of CVDs by pre-monitoring and pre-diagnosis.

Likewise, with early diagnosis, irregularities in the functioning of the heart termed arrhythmias can be prevented. As a result, the market for CM & CRM products is rising as these devices help save patients at high risk of a heart attack. Thus, with the increasing prevalence of cardiac disorders, the market might witness good demand over the coming years.

Cardiac-Arrhythmia-Monitoring-Devices-Market-Growth

Product Modernizations Delivering Remote Monitoring of Cardiac Data Might Fuel Its Adoption among Healthcare Professionals

Recent arrhythmia monitoring devices development in HIPPA-compliant technology has provided secure data transmission throughout the monitoring period without delays. New-fangled emerging technologies also provide effective alternatives for traditional Holter monitors that create alerts for high cardiac arrhythmia risk patients. Hence, remote continuous monitoring capabilities of such devices catering to the need for long-term coupled with uninterrupted cardiac rhythm management may positively influence the market growth. Recently, in January 2019, Cuero Regional Hospital launchedTeleCardiology services through a partnership with Access Physician.

Innovations in cardiac arrhythmia detection systems have led to new, convenient, and portable devices. Existing and emerging market players are more focused on developing compact, lightweight, and patient-friendly devices that allow remote monitoring of cardiac indications for patients. In June 2019, Zoll Medical introduced all HFAMS, a patch-based wearable cardiac control device equipped with features to regulate heart rhythm, breathing rate, and heart rate. These technologies surge consumer demand, influencing business growth.

Global Cardiac Arrhythmia Monitoring Devices Market: Segmentation

Holter Monitoring Devices Held the Largest Share of the Market

Holter monitoring devices dominate the market as these devices can be used over long durations to detect intermittent symptoms in sick patients. They also provide more manageable and convenient surveillance to increase patient compliance and are also likely to enhance treatment outcomes.

Congenital heart disorders, coronary artery disease, elevated blood pressure, and other forms of cardiovascular diseases are typical causes of irregular heart rhythms (arrhythmias) or symptoms that may induce arrhythmias (CVD). Cardiovascular disease is the leading global cause of death, contributing to more than 17.6 million deaths per year in 2016, a figure that is projected to rise to more than 23.6 million by 2030, as reported by the American Heart Association 2019.

As per United Nations Population Fund (UNFPA) 2017 report, in India, the number of heart disease cases in elderly people is projected to be about 19.1 million by 2050, thus increasing demand for cardiac monitoring devices. Hence, with the prevalence of cardiac arrhythmia, Holter monitoring devices' demand may surge rapidly, thus positively impacting the segmental growth.

Hospital Segment to Dominate the End-User Segment

In 2019, hospitals accounted for the highest proportion of the demand for heart monitoring & cardiac rhythm control products. Factors such as the increasing prevalence of CVD, the rising amount of diagnostic patient visits to hospitals, and the increasing number of cardiac implant procedures contribute to the significant share of this segment. Arrhythmias affect more than 4 million people and result in nearly half a million deaths per year in the United States, according to the American Heart Association (AHA).

The integration between medicine and technology has seen the twenty-first century introduce once bulky, single-function devices to a mobile, portable, and multifunction platform. During the past decade, there has been a movement towards smaller, more portable, handheld ECG tracking systems. These devices can be easily incorporated inside a hospital or clinic or between patient rooms on a cart for mobility. Although the conventional 12-lead ECG device might remain the foundation of cardiac diagnostics in the clinical or hospital environment, the future of cardiac assessment might change to triage patients until these complex systems require analysis.

There is an emerging trend toward affordable wearable or smartphone-based ECG sensors in the Holter tracking and consumer industry. The modern generation of systems is cheap or often removable and is much simpler to use than conventional Holter and cardiac incident recorders. With the absence of electrode cables, devices are easily stuck on the chest of the patient. Several modern gadgets communicate with mobile phones to remove the need for an external base station hardwired in the patient's residence. These devices are expected to contribute to a broad extension of simple ECG tracking and constitute an innovative approach for cardiology patient involvement.

Regional Overview

North-America-Lead-Cardiac-Arrhythmia-Monitoring-Devices-Mark

Global Cardiac Arrhythmia Monitoring Devices to Witness Rapid Growth in the North American Market

The rising prevalence of CVD is a crucial factor responsible for market growth. According to the American Heart Association (AHA), around 8, 36,546 people die annually from CVD in the U.S, and nearly 92.1 million Americans suffer from some cardiovascular disease. According to the CDC's statistics, around 2.7-6.1 million individuals in the U.S. have Atrial Fibrillation.

The rising penetration of innovative cardiovascular technologies and sophisticated healthcare facilities is another critical factor responsible for regional market dominance. Mobile Cardiac Outpatient Telemetry (MCOT) is experiencing a high rate of adoption in the U.S. With the need for more affordable options, G.E. Healthcare has introduced the portable MAC 800 ECG.

In May 2019, AliveCorreceived FDA approval from the U.S. for KardiaMobile 6L, the 1st6-lead personal ECG device to capture full information using a form factor. This approach also helped broaden the product range of the company's wireless devices business. Abbott obtained US FDA approval for the Confirm Rx Insertable Cardiac Monitor in October 2017 (ICM). Therefore, this region's market is expected to see fast growth over the projected period, taking into account all the factors mentioned above.

ECG Monitor Segment in Asia-Pacific Market Is Projected to Be in a Dominant Position over Forecast Years

The escalating burden of cardiovascular diseases primarily drives the APAC cardiac arrhythmia monitoring market.  The rate of diagnosis of cardiovascular diseases increases over time due to the rising burden of cardiac diseases and the need to control mortality rate by early diagnosis and treatment for CVD with cardiac monitoring devices. According to the WHO, smoking causes around 1 million cardiovascular deaths in the Asia-Pacific region annually. The Heart Foundation states that CVD is a major cause of death in Australia, with 43,477 CVD-related deaths in 2017. The need for monitoring heart diseases ultimately increases the use of these devices.

Moreover, as the number of geriatric populations who are more prone to cardiovascular diseases is expected to increase,it ultimately surges the market's growth in the coming years. For instance, Japan has the world's fastest aging population. According to the World Ageing 2019 report, the population aged above 65 was 35.524 million in 2019 and is projected to reach 37.278 million by 2030.

The development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, is expected to drive the popularity of ECG Monitors in this region. For instance, in 2018, Qardio, Inc., received approval from Australia's Therapeutic Goods Administration (TGA) for its revolutionary ECG monitorQardioCore. Furthermore, technological advancements and product innovations in the development of ECG devices are likely to propel the market growth.

The rising incidence of heart diseases in Asia-Pacific also influences healthcare service providers to implement advanced telehealth services. Hence, the increasing usage of telecardiology is expected to drive the market studied in the future.

Competitive Landscape

Several leading players operating in the cardiac arrhythmia monitoring devices market include Koninklijke Phillips N.V., Medtronic PLC, Biotelemetry Inc., G.E. Healthcare, iRhythm Technologies, and Biotronik, among other players.

Recent Developments

  • In January 2020, Biotronik launched a new injectable cardiac monitor, BIOMONITOR III. This device enables the detection of irregular heart rhythms.
  • In May 2019, Abbott launched a next-generation heart monitor for cardiac arrhythmia detection in U.S. and Europe.

Key Players

  • Biotronik
  • Abbott Laboratories
  • Medtronic plc
  • G.E. Healthcare
  • BioTelemetry, Inc.
  • Applied Cardiac Systems, Inc.
  • Alive Cor, Inc.
  • Nihon Kohden Corporation
  • Fukuda Denshi Co. Ltd.
  • Spacelabs Healthcare

Global Cardiac Arrhythmia Monitoring Devices Market: Segmentation

By Devices

  • Holter Device
  • Event Recorder
  • Mobile Cardiac Telemetry Monitors
  • Implantable Cardiac Monitors
  • Electrocardiogram (ECG) Monitors
  • Others

By Application

  • Bradycardia
  • Tachycardia
  • Atrial Fibrillation (A.F.)
  • Ventricular Fibrillation (V.F.)
  • Premature Ventricular Contractions (PVC)
  • Others

By End-User

  • Hospitals & Clinics
  • Diagnostic Centers
  • Ambulatory Surgery Centers (ASC)
  • Homecare Settings
  • Others

By Region

  • America
  • Europe
  • Asia-Pacific
  • The Middle-East and Africa

Frequently Asked Questions (FAQs)

The global cardiac arrhythmia monitoring devices market was estimated at USD 5,200 million in 2019 and is expected to grow at 6.7% CAGR during the forecast period.
The increasing prevalence of cardiac disorders, the rising penetration of innovative cardiovascular technologies, increasing usage of telecardiology are the key factors expected to drive Cardiac Arrhythmia Monitoring Devices Market during the forecast period.
North America is expected to hold the highest market share in Cardiac Arrhythmia Monitoring Devices Market.
Biotronik, Abbott Laboratories, Medtronic plc, G.E. Healthcare, BioTelemetry, Inc., Applied Cardiac Systems, Inc., Alive Cor, Inc., Nihon Kohden Corporation, Fukuda Denshi Co. Ltd. are the top players in Cardiac Arrhythmia Monitoring Devices Market.
In 2019 Global Cardiac Arrhythmia Monitoring Devices Market was valued at USD 5,200 million.
Holter Monitoring Devices Segment is expected to be the leading segment in Cardiac Arrhythmia Monitoring Devices Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
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The global cardiac arrhythmia monitoring devices market was estimated at USD 5,200 million in 2019 and is expected to grow at 6.7% CAGR during the forecast period.

Cardiac-Arrhythmia-Monitoring-Devices-Market

The Intensifying Prevalence of Cardiovascular Disease

CVD is the leading cause of death worldwide, and nearly 30 million people suffer annually from a heart attack or stroke, as per the World Health Organization (WHO). Several risk factors such as family history, age, consumption of cigarettes, hypertension, high cholesterol, obesity, physical sedentariness, diabetes, unhealthy diets, and excessive alcohol consumption are numerous risk factors contributing to CVD.

As per the American Heart Association, nearly half the adults in the U.S.suffer from CVD, and by 2035, it is projected to occur in more than 130 million people. People with severe CVD are at greater risk of cardiac arrhythmias, such as tachycardia and bradycardia, and need to be continuously monitored to avert acute heart failure. It is possible to avoid most forms of CVDs by pre-monitoring and pre-diagnosis.

Likewise, with early diagnosis, irregularities in the functioning of the heart termed arrhythmias can be prevented. As a result, the market for CM & CRM products is rising as these devices help save patients at high risk of a heart attack. Thus, with the increasing prevalence of cardiac disorders, the market might witness good demand over the coming years.

Cardiac-Arrhythmia-Monitoring-Devices-Market-Growth

Product Modernizations Delivering Remote Monitoring of Cardiac Data Might Fuel Its Adoption among Healthcare Professionals

Recent arrhythmia monitoring devices development in HIPPA-compliant technology has provided secure data transmission throughout the monitoring period without delays. New-fangled emerging technologies also provide effective alternatives for traditional Holter monitors that create alerts for high cardiac arrhythmia risk patients. Hence, remote continuous monitoring capabilities of such devices catering to the need for long-term coupled with uninterrupted cardiac rhythm management may positively influence the market growth. Recently, in January 2019, Cuero Regional Hospital launchedTeleCardiology services through a partnership with Access Physician.

Innovations in cardiac arrhythmia detection systems have led to new, convenient, and portable devices. Existing and emerging market players are more focused on developing compact, lightweight, and patient-friendly devices that allow remote monitoring of cardiac indications for patients. In June 2019, Zoll Medical introduced all HFAMS, a patch-based wearable cardiac control device equipped with features to regulate heart rhythm, breathing rate, and heart rate. These technologies surge consumer demand, influencing business growth.

Global Cardiac Arrhythmia Monitoring Devices Market: Segmentation

Holter Monitoring Devices Held the Largest Share of the Market

Holter monitoring devices dominate the market as these devices can be used over long durations to detect intermittent symptoms in sick patients. They also provide more manageable and convenient surveillance to increase patient compliance and are also likely to enhance treatment outcomes.

Congenital heart disorders, coronary artery disease, elevated blood pressure, and other forms of cardiovascular diseases are typical causes of irregular heart rhythms (arrhythmias) or symptoms that may induce arrhythmias (CVD). Cardiovascular disease is the leading global cause of death, contributing to more than 17.6 million deaths per year in 2016, a figure that is projected to rise to more than 23.6 million by 2030, as reported by the American Heart Association 2019.

As per United Nations Population Fund (UNFPA) 2017 report, in India, the number of heart disease cases in elderly people is projected to be about 19.1 million by 2050, thus increasing demand for cardiac monitoring devices. Hence, with the prevalence of cardiac arrhythmia, Holter monitoring devices' demand may surge rapidly, thus positively impacting the segmental growth.

Hospital Segment to Dominate the End-User Segment

In 2019, hospitals accounted for the highest proportion of the demand for heart monitoring & cardiac rhythm control products. Factors such as the increasing prevalence of CVD, the rising amount of diagnostic patient visits to hospitals, and the increasing number of cardiac implant procedures contribute to the significant share of this segment. Arrhythmias affect more than 4 million people and result in nearly half a million deaths per year in the United States, according to the American Heart Association (AHA).

The integration between medicine and technology has seen the twenty-first century introduce once bulky, single-function devices to a mobile, portable, and multifunction platform. During the past decade, there has been a movement towards smaller, more portable, handheld ECG tracking systems. These devices can be easily incorporated inside a hospital or clinic or between patient rooms on a cart for mobility. Although the conventional 12-lead ECG device might remain the foundation of cardiac diagnostics in the clinical or hospital environment, the future of cardiac assessment might change to triage patients until these complex systems require analysis.

There is an emerging trend toward affordable wearable or smartphone-based ECG sensors in the Holter tracking and consumer industry. The modern generation of systems is cheap or often removable and is much simpler to use than conventional Holter and cardiac incident recorders. With the absence of electrode cables, devices are easily stuck on the chest of the patient. Several modern gadgets communicate with mobile phones to remove the need for an external base station hardwired in the patient's residence. These devices are expected to contribute to a broad extension of simple ECG tracking and constitute an innovative approach for cardiology patient involvement.

Regional Overview

North-America-Lead-Cardiac-Arrhythmia-Monitoring-Devices-Mark

Global Cardiac Arrhythmia Monitoring Devices to Witness Rapid Growth in the North American Market

The rising prevalence of CVD is a crucial factor responsible for market growth. According to the American Heart Association (AHA), around 8, 36,546 people die annually from CVD in the U.S, and nearly 92.1 million Americans suffer from some cardiovascular disease. According to the CDC's statistics, around 2.7-6.1 million individuals in the U.S. have Atrial Fibrillation.

The rising penetration of innovative cardiovascular technologies and sophisticated healthcare facilities is another critical factor responsible for regional market dominance. Mobile Cardiac Outpatient Telemetry (MCOT) is experiencing a high rate of adoption in the U.S. With the need for more affordable options, G.E. Healthcare has introduced the portable MAC 800 ECG.

In May 2019, AliveCorreceived FDA approval from the U.S. for KardiaMobile 6L, the 1st6-lead personal ECG device to capture full information using a form factor. This approach also helped broaden the product range of the company's wireless devices business. Abbott obtained US FDA approval for the Confirm Rx Insertable Cardiac Monitor in October 2017 (ICM). Therefore, this region's market is expected to see fast growth over the projected period, taking into account all the factors mentioned above.

ECG Monitor Segment in Asia-Pacific Market Is Projected to Be in a Dominant Position over Forecast Years

The escalating burden of cardiovascular diseases primarily drives the APAC cardiac arrhythmia monitoring market.  The rate of diagnosis of cardiovascular diseases increases over time due to the rising burden of cardiac diseases and the need to control mortality rate by early diagnosis and treatment for CVD with cardiac monitoring devices. According to the WHO, smoking causes around 1 million cardiovascular deaths in the Asia-Pacific region annually. The Heart Foundation states that CVD is a major cause of death in Australia, with 43,477 CVD-related deaths in 2017. The need for monitoring heart diseases ultimately increases the use of these devices.

Moreover, as the number of geriatric populations who are more prone to cardiovascular diseases is expected to increase,it ultimately surges the market's growth in the coming years. For instance, Japan has the world's fastest aging population. According to the World Ageing 2019 report, the population aged above 65 was 35.524 million in 2019 and is projected to reach 37.278 million by 2030.

The development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, is expected to drive the popularity of ECG Monitors in this region. For instance, in 2018, Qardio, Inc., received approval from Australia's Therapeutic Goods Administration (TGA) for its revolutionary ECG monitorQardioCore. Furthermore, technological advancements and product innovations in the development of ECG devices are likely to propel the market growth.

The rising incidence of heart diseases in Asia-Pacific also influences healthcare service providers to implement advanced telehealth services. Hence, the increasing usage of telecardiology is expected to drive the market studied in the future.

Competitive Landscape

Several leading players operating in the cardiac arrhythmia monitoring devices market include Koninklijke Phillips N.V., Medtronic PLC, Biotelemetry Inc., G.E. Healthcare, iRhythm Technologies, and Biotronik, among other players.

Recent Developments

  • In January 2020, Biotronik launched a new injectable cardiac monitor, BIOMONITOR III. This device enables the detection of irregular heart rhythms.
  • In May 2019, Abbott launched a next-generation heart monitor for cardiac arrhythmia detection in U.S. and Europe.

Key Players

  • Biotronik
  • Abbott Laboratories
  • Medtronic plc
  • G.E. Healthcare
  • BioTelemetry, Inc.
  • Applied Cardiac Systems, Inc.
  • Alive Cor, Inc.
  • Nihon Kohden Corporation
  • Fukuda Denshi Co. Ltd.
  • Spacelabs Healthcare

Global Cardiac Arrhythmia Monitoring Devices Market: Segmentation

By Devices

  • Holter Device
  • Event Recorder
  • Mobile Cardiac Telemetry Monitors
  • Implantable Cardiac Monitors
  • Electrocardiogram (ECG) Monitors
  • Others

By Application

  • Bradycardia
  • Tachycardia
  • Atrial Fibrillation (A.F.)
  • Ventricular Fibrillation (V.F.)
  • Premature Ventricular Contractions (PVC)
  • Others

By End-User

  • Hospitals & Clinics
  • Diagnostic Centers
  • Ambulatory Surgery Centers (ASC)
  • Homecare Settings
  • Others

By Region

  • America
  • Europe
  • Asia-Pacific
  • The Middle-East and Africa

Frequently Asked Questions (FAQs)

The global cardiac arrhythmia monitoring devices market was estimated at USD 5,200 million in 2019 and is expected to grow at 6.7% CAGR during the forecast period.
The increasing prevalence of cardiac disorders, the rising penetration of innovative cardiovascular technologies, increasing usage of telecardiology are the key factors expected to drive Cardiac Arrhythmia Monitoring Devices Market during the forecast period.
North America is expected to hold the highest market share in Cardiac Arrhythmia Monitoring Devices Market.
Biotronik, Abbott Laboratories, Medtronic plc, G.E. Healthcare, BioTelemetry, Inc., Applied Cardiac Systems, Inc., Alive Cor, Inc., Nihon Kohden Corporation, Fukuda Denshi Co. Ltd. are the top players in Cardiac Arrhythmia Monitoring Devices Market.
In 2019 Global Cardiac Arrhythmia Monitoring Devices Market was valued at USD 5,200 million.
Holter Monitoring Devices Segment is expected to be the leading segment in Cardiac Arrhythmia Monitoring Devices Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.