Global Cardiac Monitoring and Cardiac Rhythm Management Devices Market – Industry Trends and Forecast to 2029

Market Analysis and Insights : Global Cardiac Monitoring and Cardiac Rhythm Management Devices Market

Data Bridge Market Research analyses that the cardiac monitoring and cardiac rhythm management devices market to be grow at a CAGR of 4.45% in the forecast period of 2022-2029 and is expected to reach the USD 30.70 billion by 2029.

The heart's rhythm and function are controlled and managed with a cardiac rhythm management device. These devices are employed if the user has any arrhythmia-related disorders, such as cardiac arrests, heart failure, or cardiac arrhythmias. It is usually inserted near the heart in the chest cavity. These devices have primarily been employed for patients with cardiovascular disorders, as they aid in the normalization and management of heart function.

The rise in the prevalence of cardiovascular disorders will act as a major factor influencing the growth of cardiac monitoring and cardiac rhythm management devices market. Furthermore, increasing investments associated with the development of advanced technology, and rising sedentary lifestyle are the major drivers that will enhance the growth of cardiac monitoring and cardiac rhythm management devices market. Other significant factors such as growing geriatric population and increase in the incidences of infection will cushion the market growth rate. Another significant factor is the rising funds, investments and grants for research on cardiac monitoring and cardiac rhythm management devices will drive the market’s growth rate.

Moreover, the rise in research and development activities and the launch of innovative products will provide beneficial opportunities for the cardiac monitoring and cardiac rhythm management devices market growth.

However, high cost involved with the devices and unfavourable reimbursement policies are the factors that will obstruct the market growth. Also, rising excise tax and the lack of skilled professionals and expertise in cardiac rhythm management devices and electrocardiography will challenge the market of cardiac monitoring and cardiac rhythm management devices.  

This cardiac monitoring and cardiac rhythm management devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cardiac monitoring and cardiac rhythm management devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Cardiac Monitoring and Cardiac Rhythm Management Devices Market Scope and Market Size

The cardiac monitoring and cardiac rhythm management devices market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

Based on product type, the cardiac monitoring and cardiac rhythm management devices market is segmented into cardiac monitoring, and cardiac rhythm management (CRM). Cardiac monitoring segment is further sub-segmented into ECG, implantable loop recorders, COM, and event monitors. The ECG devices are classified on the basis of type and lead type. The segmentation of ECG devices on the basis of by type includes resting ECG, stress ECG and holter monitor. Holter monitor is further divided into wired and wireless. The segmentation of ECG devices on the basis of by lead type includes single-lead ECG devices, 3 to 6-lead ECG devices and 12-lead ECG devices. Cardiac rhythm management (CRM) segment is further sub-segmented into defibrillators, pacemakers, and cardiac resynchronization therapy. The defibrillators are further sub-segmented into implantable cardioverter defibrillators and external defibrillators. Implantable cardioverter defibrillators are divided into transvenous implantable cardioverter defibrillator, dual-chamber ICDs and single-chamber ICDs. External defibrillators are divided into manual external defibrillators, automated external defibrillators and wearable cardioverter defibrillator. Pacemakers are further sub-segmented on the basis of implantability, technology and type. On the basis of implantability, pacemakers are divided into implantable pacemakers and external pacemakers. By technology pacemakers are divided into dual-chamber pacemakers and single-chamber pacemakers. By type the pacemakers are divided into traditional pacemakers and remote pacemakers. Cardiac resynchronization therapy devices are further sub-segmented into cardiac resynchronization therapy defibrillators and cardiac resynchronization therapy pacemakers.

On the basis of end user, the cardiac monitoring and cardiac rhythm management devices market is segmented into ambulatory centers, home care, cardiac centers, hospitals, clinics and others.

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Country Level Analysis

The cardiac monitoring and cardiac rhythm management devices market is analysed and market size insights and trends are provided by country, product type and end user as referenced above.

The countries covered in the cardiac monitoring and cardiac rhythm management devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cardiac monitoring and cardiac rhythm management devices market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing prevalence of heart failure and arrhythmia, rising geriatric population and growing patient awareness about the accessibility of treatment choices in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the rising prevalence of cardiovascular diseases, increasing stress and changing diet. Other factors such as growing adoption of sedentary lifestyle and continuous smoking and drinking will also expand the cardiac monitoring and cardiac rhythm management devices market in this region.

The country section of the cardiac monitoring and cardiac rhythm management devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The cardiac monitoring and cardiac rhythm management devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac monitoring and cardiac rhythm management devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac monitoring and cardiac rhythm management devices market. The data is available for historic period 2010 to 2020.

Competitive Landscape and Global Cardiac Monitoring and Cardiac Rhythm Management Devices Market Share Analysis

The cardiac monitoring and cardiac rhythm management devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to cardiac monitoring and cardiac rhythm management devices market.

Some of the major players operating in the cardiac monitoring and cardiac rhythm management devices market are Medtronic, Abbott, Boston Scientific Corporation , GE Company, Koninklijke Philips N.V., BIOTRONIK SE & Co KG, SCHILLER, ABIOMED, Hill-Rom Services, Inc., NIHON KOHDEN CORPORATION, Siemens, 3M, Berlin Heart, BioTelemetry, a Philips Company, Jarvik Heart, Inc., Stryker, Asahi Kasei Corporation, LivaNova PLC, OSI Systems, Inc., Midmark Corp., ZOLL Medical Corporation, LifeWatch, Edwards Lifesciences Corporation and Getimge AB, among others.

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