The cardiac monitoring & cardiac rhythm management devices market is expected to be valued at USD 29.32 billion in 2027 from USD 21.75 billion in 2019, registering a CAGR of 4.1% through the forecast period according to a recent report by Emergen Research. The growth of this market can be attributed to the increasing prevalence among the ageing population of cardiovascular diseases. Growth in the market is most likely to be driven by increasing investments in the research and development of cardiac monitoring & cardiac rhythm management devices to improve device efficiency. The development of cardiac monitoring & cardiac rhythm management devices over the forecast period is expected to fuel the emergence of advanced, minimally invasive technologies. In addition, the increasing preference of patients for wearable cardiac devices is expected to increase the demand for advanced cardiac devices.
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Key Highlights From Report
- Abbott Laboratories launched a new, smarter heart monitor in May 2019 to better detect arrhythmias, which can benefit people with irregular heartbeats.
- In 2019, the ECG devices sub-segment held a 48.8% market share. The increasing prevalence of cardiovascular diseases among the ageing population has led to the adoption of ECG devices.
- Defibrillators revenue share is projected to expand over the forecast period with the fastest CAGR of 4.4%. It is expected that technological developments in defibrillators will drive the segment’s growth.
- Due to the existence of favourable reimbursement policies in hospitals, the hospital sub-segment held the largest market share of the cardiac monitoring & cardiac rhythm management devices in 2019.
- Due to the increasing government initiatives to improve healthcare systems, the Asia Pacific cardiac monitoring & cardiac rhythm management devices market is expected to record significant growth over the forecast period.
- Key participants 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, and Nihon Kohden Corporation, among others.
Emergen Research has segmented the Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market on the basis of type, product, end-user, 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-User Outlook (Revenue, USD Billion; 2017-2027)
- Ambulatory Surgery Centers, and Cardiac Centers
- Other End Users
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/cardiac-monitoring-and-cardiac-rhythm-management-devices-market