NEW YORK, December 12, 2017 /PRNewswire/ --
According to the latest market report published by Persistence Market Research, titled 'Cardiac Arrhythmia Monitoring Devices Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)', the global cardiac arrhythmia monitoring devices market is expected to expand at a CAGR of 6.6% during the forecast period 2017-2025.
The market is segmented based on product type, application, end user and region. On the basis of product type, the market has been segmented into five segments such as implantable cardiac monitors, resting ECG devices, ECG stress test devices, mobile cardiac telemetry monitors and holter monitors. Implantable cardiac monitors segment is expected to be the fastest growing segment over the forecast period, registering the significant CAGR of 9.2% in terms of revenue, over the forecast period. Increasing demand for technologically advanced in cardiac arrhythmia monitoring devices such as implantable cardiac monitors and mobile cardiac telemetry monitors worldwide over the forecast period is expected to boost the growth of the market.
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The implantable cardiac monitors segment is expected to reach a market value of US$ 1,608.5 Mn by 2025 end. The mobile cardiac telemetry monitors segment revenue is also expected expand at significant CAGR over the forecast period. On the basis of application, the market has been segmented into atrial fibrillation, bradycardia, conduction disorders, premature contraction, tachycardia, ventricular fibrillation and others.
On the basis of end user, the market has been segmented into hospitals, ambulatory surgical centers, diagnostics centers, homecare settings, long term care centers and emergency medical services. On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia-Pacific (APAC), and the Middle East and Africa (MEA).
The increasing demand for advanced cardiac arrhythmia monitoring devices, such as such as implantable cardiac monitors and mobile cardiac telemetry monitors to monitor and detect the electrical activity of the heart is fuelling the global cardiac arrhythmia monitoring devices market. The increasing incidence of cardiovascular diseases and disorders globally include atrial fibrillation, bradycardia, conduction disorders, premature contraction, tachycardia, and ventricular fibrillation is anticipated to boost the demand for the cardiac arrhythmia monitoring devices and drives the growth for the cardiac arrhythmia monitoring devices market over a forecast period. The increasing adoption rate of low cost ECG devices and services among lower income groups from the developing regions such as Asia Pacific, is anticipated to propel the demand of the cardiac arrhythmia monitoring devices and drives the growth of the cardiac arrhythmia monitoring devices market over long run. Increasing government spending on healthcare infrastructure in developed economies and favourable reimbursement policies for treatment of is expected to bolster the growth of the global cardiac arrhythmia monitoring devices market.
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However, adverse events associated with the use of cardiac arrhythmia monitoring devices and product recall due to safety concerns, may hamper the demand for devices and restrain the growth of the market over forecast period. The dearth of trained and skilled specialists and professionals to operate, monitor and interpret the activities and signals generated by the advanced cardiac arrhythmia monitoring devices, may also hinder the growth of the global cardiac arrhythmia monitoring devices market. Unintended negative consequences of advanced ECG monitors in general care setting such as nuisance alarms, may create the alarm fatigue which is a widely recognized risk to patient health safety, are the few factors which may hinder the growth of the global cardiac arrhythmia monitoring devices market.
This report assesses trends are driving each market segment and offers analysis and insights into the cardiac arrhythmia monitoring devices market in specific regions. North America is estimated to dominate the cardiac arrhythmia monitoring devices market with a maximum value share of the overall market by the end of 2017. By 2025, North America and Europe markets are expected to account for over 58.0% share of the global cardiac arrhythmia monitoring devices market revenue. In terms of value, North America is estimated to be the dominant market, registering a CAGR of 6.6% over the forecast period.
Some key companies covered in this report include NUUBO Smart Solutions Technologies, SL, Koninklijke Philips N.V., GE Healthcare (General Electric Company), Welch Allyn - A Hill-Rom Inc. Company, Spacelabs Healthcare, Inc. (OSI Systems, Inc.), Nihon Kohden Corporation, Fukuda Denshi Co., Ltd., Biotelemetry, Inc., AliveCor, Inc., Biotronik, Inc., Medtronic Plc. and St. Jude Medical, LLC. (Abbott Laboratories).
These companies in the global cardiac arrhythmia monitoring devices market are striving to consolidate their position by means of acquiring small and large firms in the market. Companies are focusing towards increasing product development and up-gradation capacities to achieve economies of scale and to serve different markets to improve geographic footholds in the market.
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