Cardiac Monitoring & Cardiac Rhythm Management Devices Market By Devices for Cardiac Monitoring [Electrocardiogram (ECG) Devices, Implantable Loop Recorders (ILR), Cardiac Output Monitoring (COM) Devices, Mobile Cardiac Telemetry Monitoring (MCT/MCOT) and Event Monitors], Devices for Cardiac Rhythm Management [Pacemakers and Defibrillator], End User [Hospitals, Clinics & Cardiac Specialty Centers; Home Care Settings; and Ambulatory Care Centers] – Global Outlook & Forecast 2022 - 2030

GR - 248943 Category: Medical Devices

Number of pages: 120 | Report Format: PDF | Published date: 10 June, 2020

Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030

Report Overview

The global cardiac monitoring & cardiac rhythm management devices market was pegged at ~US$ 22 billion in 2020 and is expected to witness a CAGR of ~4.0% during the forecast period.

Market Fundamentals

Rising cases of cardiac diseases and associated risk factors are responsible for the growth of the global cardiac monitoring & cardiac rhythm management devices market. Cardiac Monitoring devices measure irregular heartbeat that happens infrequently. Heart's sinus node controls the heartbeat by releasing electrical shockwaves which move across the atria causing the heart muscle to contract and pump blood to the rest of the body. Due to a heart attack, heart muscle damage and certain medical conditions can cause an irregular heart rhythm. Cardiac monitoring devices are used to monitor heartbeat, assess the presence and severity of cardiac disease in patients, and evaluate the efficiency of drugs, interventions, operations, and device implants. Cardiac rhythm management devices include implantable devices, leads, and accessories, as well as external devices to treat and manage arrhythmia-related diseases either too slow a heart rhythm (pacemakers) or too fast a rhythm (cardioverter defibrillators), thereby helping patients to improve their overall health status. It acts whenever a cardiac monitoring device detects an irregular heartbeat, then it stimulates current and gives a shock to the heart which brings the heartbeat back to normal.

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Market Dynamics

The global cardiac monitoring & cardiac rhythm management devices market is mainly driven by growing prevalence of cardiovascular diseases, technological advancements, rising adoption of monitoring devices during the pandemic and increasing awareness among the patients. Furthermore, increasing investments, funds, and grants for research on cardiac monitoring & cardiac rhythm management devices is also playing a pivotal role in contributing to the growth of the market globally. However, recall of defective products, high cost of devices, and risk of related cybersecurity vulnerabilities are likely to restrain market growth to a certain extent. For instance, in June 2021 the WHO released a note that 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke.

Market Ecosystem

The global cardiac monitoring & cardiac rhythm management devices market has been analyzed from four perspectives: Devices for Cardiac Monitoring, Devices for Cardiac Rhythm Management, End User, and Region.

Cardiac Monitoring & Cardiac Rhythm Management Devices Market by Devices for Cardiac Monitoring

Based on devices for cardiac monitoring, the market has been segmented into electrocardiogram (ECG) devices [resting ECG, stress ECG and Holter monitors], implantable loop recorders (ILR), cardiac output monitoring (COM) devices [minimally invasive COM devices and noninvasive COM devices], mobile cardiac telemetry monitoring (MCT/MCOT) and event monitors. The electrocardiogram (ECG) devices segment accounted for the largest share in the market in 2021, owing to technological advancements in ECG devices such as portable and handheld and favorable government regulations.

Cardiac Monitoring & Cardiac Rhythm Management Devices Market by Devices for Cardiac Rhythm Management

Based on devices for cardiac rhythm management, the market has been segmented into pacemakers and defibrillator. Pacemakers are further bifurcated - by implantability [implantable pacemakers and external pacemakers] and by type [dual-chamber pacemakers, single-chamber pacemakers and biventricular/CRT pacemakers]. Whereas defibrillators are further segmented into implantable cardioverter defibrillators (ICD) [S-ICD and T-ICD] and external defibrillator [manual external defibrillator, automatic external defibrillator and wearable cardioverter defibrillator]. The defibrillator segment is expected to hold highest share during the forecast period. The growth of the segment in the global market can largely be attributed to technological advancements in defibrillators, training & awareness programs on defibrillators and growing focus on providing public-access defibrillators.

Cardiac Monitoring & Cardiac Rhythm Management Devices Market by End User

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Based on end user, the cardiac monitoring & cardiac rhythm management devices market has been segmented into hospitals, clinics & cardiac specialty centers; home care settings; and ambulatory care centers. Hospitals, clinics & cardiac specialty centers segment holds the largest share in the market. The growth of the segment can mainly be attributed to the growing number of patients visiting hospitals for diagnosis, increasing number of cardiac implant procedures and availability of reimbursements across developed countries.

Cardiac Monitoring & Cardiac Rhythm Management Devices Market by Region

Based on region, the global cardiac monitoring & cardiac rhythm management devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the global cardiac monitoring & cardiac rhythm management devices market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to increasing healthcare expenditure, growing prevalence of cardiovascular diseases in the region and rapid adoption of technologically advanced products. Moreover, factors like growing awareness among the patients and ease access to the treatment choices are also expected to contribute to the market growth in the region.

Competitive Landscape

Some of the prominent players operating in the cardiac monitoring & cardiac rhythm management devices market includes:-

GENERAL ELECTRIC COMPANY
Abbott
Boston Scientific Corporation
Koninklijke Philips N.V.
Medtronic
Shenzhen Mindray Bio-Medical Electronics Co., Ltd
SCHILLER
BIOTRONIK
BPL Medical Technologies
NIHON KOHDEN CORPORATION, among others.

Strategic Developments

In March 2022 Biotronik procured CE approval for HeartInsight which is a remote heart failure (HF) management solution. It accurately identifies patients at higher risk of heart failure decompensation early. Compared to other available solutions, HeartInsight provides the earliest notification, median advance notice of 42 days before an impending HF hospitalization, which allows clinicians to proactively care for their patients
In Oct 2020, Abbott launched new implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices in India for people with abnormal heart rhythms and heart failure
In Jan 2020, Biotronik announced the market launch of its new injectable cardiac monitor (ICM), BIOMONITOR III in Japan. This novel device is designed to help patients with irregular heart rhythms by documenting unexplained syncope with increased clarity
In May 2019, Abbott Launched Next Generation Confirm RX Implantable Cardiac Monitor. This smartphone compatible ICM offers more accurate, 24/7 monitoring of heart rhythm disorders

Report Scope

Report Attribute	Details
Revenue forecast in 2031	~US$ 30 billion
Market size value in 2020	~US$ 22 billion
Growth Rate	CAGR of ~4.0% from 2022 to 2030
Base year for estimation	2021
Forecast period	2022-2030
Segments covered	Devices for Cardiac Monitoring, Devices for Cardiac Rhythm Management, End User
Regional scope	North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Frequently Asked Questions About This Report

The global cardiac monitoring & cardiac rhythm management devices Market was anticipated to clock ~US$ 22 billion in 2021

The cardiac monitoring & cardiac rhythm management devices market is projected to reach ~US$ 30 billion by 2030

The global cardiac monitoring & cardiac rhythm management devices market is mainly driven by the growing prevalence of cardiovascular diseases, technological advancements, rising adoption of monitoring devices due to COVID-19, and increasing awareness among the patients.

GENERAL ELECTRIC COMPANY, Abbott, Boston Scientific Corporation, Koninklijke Philips N.V., Medtronic, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, SCHILLER, BIOTRONIK, BPL Medical Technologies, NIHON KOHDEN CORPORATION

The growth rate of cardiac monitoring & cardiac rhythm management devices market is CAGR of ~4.0% between 2022-2030

North America held the largest share of the global cardiac monitoring & cardiac rhythm management devices market in 2021

INTRODUCTION
1. Market Ecosystem
2. Geographic Scope
3. Timeline Under Consideration
  1. Historical Years – 2020
  2. Base Year – 2021
  3. Forecasted Years – 2022 to 2030
4. Currency Used in the Report
RESEARCH METHODOLOGY
1. Research Approach
2. Data Collection Methodology
3. Data Sources
  1. Secondary Sources
  2. Primary Sources
4. Market Estimation Approach
  1. Bottom Up
  2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
PREMIUM INSIGHTS
1. Current Market Trend (COVID-19 Perspective)
2. Key Players & Their Competitive Positioning (2020)
MARKET DYNAMICS
1. Drivers
2. Restraints/Challenges
3. Opportunities
GLOBAL CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT DEVICES MARKET - ANALYSIS & FORECAST, BY DEVICES FOR CARDIAC MONITORING
1. Electrocardiogram (ECG) Devices
  1. Resting ECG
  2. Stress ECG
  3. Holter Monitors
2. Implantable Loop Recorders (ILR)
3. Cardiac Output Monitoring (COM) Devices
  1. Minimally Invasive COM Devices
  2. Noninvasive COM Devices
4. Mobile Cardiac Telemetry Monitoring (MCT/MCOT)
5. Event Monitors
GLOBAL CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT DEVICES MARKET - ANALYSIS & FORECAST, BY DEVICES FOR CARDIAC RHYTHM MANAGEMENT
1. Pacemakers
  1. By Implantability
    1. Implantable Pacemakers
    2. External Pacemakers
  2. By Type
    1. Dual-chamber pacemakers
    2. Single-chamber pacemakers
    3. Biventricular/CRT pacemakers
2. Defibrillator
  1. Implantable Cardioverter Defibrillators (ICD)
    1. S-ICD (Subcutaneous Implantable Cardioverter Defibrillators)
    2. T-ICD (Transvenous Implantable Cardioverter Defibrillators)
  2. External Defibrillator
    1. Manual External Defibrillator
    2. Automatic External Defibrillator
    3. Wearable Cardioverter Defibrillator
GLOBAL CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT DEVICES MARKET - ANALYSIS & FORECAST, BY END USER
1. Hospitals, Clinics & Cardiac Specialty Centers
2. Home Care Settings
3. Ambulatory Care Centers
GLOBAL CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT DEVICES MARKET - ANALYSIS & FORECAST, BY REGION
1. North America Cardiac Monitoring & Cardiac Rhythm Management Devices Market
  1. North America Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Country
    1. U.S.
    2. Canada
  2. North America Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Monitoring
  3. North America Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Rhythm Management
  4. North America Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By End User
2. Europe Cardiac Monitoring & Cardiac Rhythm Management Devices Market
  1. Europe Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Country/Region
    1. Germany
    2. U.K
    3. France
    4. Rest of Europe (ROE)
  2. Europe Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Monitoring
  3. Europe Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Rhythm Management
  4. Europe Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By End User
3. Asia Pacific Cardiac Monitoring & Cardiac Rhythm Management Devices Market
  1. Asia Pacific Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Country/Region
    1. China
    2. Japan
    3. India
    4. Rest of Asia Pacific (RoAPAC)
  2. Asia Pacific Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Monitoring
  3. Asia Pacific Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Rhythm Management
  4. Asia Pacific Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By End User
4. Rest of the World (RoW) Cardiac Monitoring & Cardiac Rhythm Management Devices Market
  1. Rest of the World Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Region
    1. Latin America
    2. Middle East & Africa
  2. Rest of the World Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Monitoring
  3. Rest of The World Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By Devices for Cardiac Rhythm Management
  4. Rest of The World Cardiac Monitoring & Cardiac Rhythm Management Devices Market, By End User
COMPANY PROFILES
1. General Electric Company
  1. Business Snapshot
  2. Products Offered
  3. Financial Details*
  4. Strategic Developments
2. Abbott Laboratories inc.
3. Boston Scientific Corporation
4. Koninklijke Philips N.V.
5. Medtronic PLC
6. Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
7. Schiller
8. Biotronik
9. BPL Medical Technologies
10. Nihon Kohden Corporation

*Insights on financial performance is subject to availability of information in public domain

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Report Overview

Report Scope

Frequently Asked Questions About This Report

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