Cardiac Arrhythmia Monitoring Devices Market Revenue to Cross USD 9 Bn by 2026: Global Market Insights, Inc.
Homecare settings segment size in the cardiac arrhythmia monitoring devices market is predicted to reach USD 950 million by 2026, led by growing awareness about remote patient monitoring devices in developing countries.
SELBYVILLE, Del., Aug. 20, 2020 /PRNewswire/ -- According to the latest report "Cardiac Arrhythmia Monitoring Devices Market by Devices (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), Application (Tachycardia {Atrial Tachycardia, Ventricular Tachycardia}, Bradycardia, Premature Contractions), By End-use (Hospitals and Clinics, Diagnostics Centers, Ambulatory Surgical Centers, Homecare Settings), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of cardiac arrhythmia monitoring devices will cross $9 billion by 2026. The rising number of novel product launches with enhanced detection and portability features will spur the market growth.
Adoption of unhealthy habits such as smoking, excess consumption of a sugar-rich diet, alcoholism and lack of physical activity form the key factors leading to several cardiovascular diseases (CVDs). Thus, lifestyle changes are subsequently leading to greater cases of CVDs, especially cardiac arrhythmias. With the growing burden of atrial fibrillation, bradycardia, atrial flutter, among others, the demand for continuous diagnosis and monitoring of cardiac parameters will robustly grow in the coming years.
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Innovations in cardiac arrhythmia monitoring devices leading to the introduction of novel, convenient and wearable devices will pave the way for the market expansion. Existing and new industry participants are focusing on developing small, light-weight and patient-friendly devices that facilitate remote monitoring of patient's cardiac indicators. In June 2019, Zoll Medical announced the launch of Zoll HFAMS, a patch-based wearable heart management system that is designed to manage heart rhythm, respiratory rate, and heart rate with several other functions. Such innovations will increase customer preference, further impacting market growth.
The mobile cardiac telemetry segment is poised to witness over an 8% growth rate through 2026 due to rapidly increasing investment in mobile cardiac telemetry devices offering superior features compared to traditional monitoring devices. Mobile cardiac telemetry devices detect asymptomatic, as well as symptomatic, arrhythmias. Besides, these devices allow unrestricted movement and wirelessly transmit cardiac data in real time.
The tachycardia application segment dominated around 87% of the cardiac arrhythmia monitoring devices market share in 2019. Tachycardia is an anomaly in heart rhythm wherein the heart beats at a faster pace than normal. To diagnose a specific type of tachycardia and for proper disease management, healthcare professionals recommend monitoring devices such as ECG devices, Holter monitors, event recorders or other portable monitors.
The home care setting's segment size in the cardiac arrhythmia monitoring devices market is predicted to reach USD 950 million by 2026, led by growing awareness about remote patient monitoring devices in developing countries. Additionally, increasing availability and penetration of companies manufacturing wearable cardiac devices that enable continuous monitoring even at home drives customer preference.
Europe's cardiac arrhythmia monitoring devices market valuation was more than USD 1.7 billion in 2019 on account of the growing geriatric patient pool and the presence of prominent industry players. Also, the rising pervasiveness of chronic heart disorders owing to increasing obesity and the adoption of smoking will influence the demand for monitoring devices. Moreover, the increasing number of COVID-19 patients requiring remote monitoring of cardiac parameters will propel the European industry.
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Major players operating in the global cardiac arrhythmia monitoring devices market include GE Healthcare, Philips, Abbott, Medtronic, and Nihon Kohden, among other players. Established companies are broadening their market presence by adopting several strategies such as augmentation of their product portfolio for business expansion. For instance, in July 2020, Biotronik received FDA approval for Biomonitor III, which is a newer version of the BIOMONITOR injectable cardiac monitor. The new product launch strategy will help the company widen its product portfolio and strengthen its market position.
Table of Contents (ToC) of the report:
Chapter 3. Cardiac Arrhythmia Monitoring Devices Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026 (USD Million)
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By devices
3.4.2. By application
3.4.3. By end-use
3.5. COVID-19 impact analysis
3.6. Regulatory landscape
3.7. Technology landscape
3.7.1. Upcoming technologies
3.8. Industry SWOT analysis
3.9. Porter's analysis
3.10. Competitive landscape, 2019
3.11. PESTEL analysis
Browse the Complete Table of Contents (ToC) at
https://www.gminsights.com/toc/detail/cardiac-arrhythmia-monitoring-devices-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Global Cardiac Arrhythmia Monitoring Devices Market growth predicted at 6.8% through 2026: GMI
Major cardiac arrhythmia monitoring devices market players include GE Healthcare, Philips, Abbott, Medtronic, and Nihon Kohden.
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SOURCE Global Market Insights, Inc.
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