DALLAS, July 3, 2015 /PRNewswire/ --
According to a new market research report "Cardiac Monitoring & Cardiac Rhythm Management Market ECG, Implantable Loop Recorder, Manual Event Monitor, Cardiac Output Monitoring, Defibrillator, Implantable Cardioverter Defibrillator, Dual Chamber Pacemaker, CRT-D, CRT-P - Global Forecast to 2020", published by MarketsandMarkets, the global Cardiac Monitoring (CM) and Cardiac Rhythm Management (CRM) Devices Market is poised to reach $26,646.5 Million by 2020 from $21,137.7 Million in 2015, at a CAGR of 4.7% from 2015 to 2020.
Browse 107 market data Tables and 22 Figures spread through 250 Pages and in-depth TOC on "Cardiac Monitoring Market"
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Factors such as increasing incidences of cardiovascular diseases, technological advancement such as mobile cardiac telemetry, and emergence of private institutional nursing and home care are driving the CM and CRM Devices Market. However, dearth of skilled healthcare professionals with expertise in electrocardiography (ECG) and cardiac monitoring, and pressure to contain healthcare costs hampering complete adoption of advanced technologies are the major factors restraining the growth of the market.
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In this report, CM and CRM Devices Market is segmented on the basis of products, end users, and regions. The CM devices segment is categorized into electrocardiogram (ECG) devices, event monitors, implantable loop recorders (ILR), and cardiac output monitoring (COM) devices.
The ECG devices segment is expected to account for the largest share in 2015. This segment will also be the fastest-growing product segment during the forecast period. Prime factors contributing to the growth of the product segment includes rise in the incidence rates of lifestyle diseases including cardiovascular diseases and launch of technologically advanced products offering ambulatory care. The CRM devices segment is categorized into defibrillators, pacemakers, and cardiac resynchronization therapy (CRT) devices. The defibrillator segment is expected to account for the largest share in 2015 and will also be the fastest-growing product segment during the forecast period.
On basis of end users this market is categorized in home/ambulatory settings, hospitals, and other end users (research institutes and laboratories). The home/ambulatory settings segment is expected to account for largest share in 2015. This segment will also be the fastest-growing segment during the forecast period owing to increased preference of devices enabling ambulatory monitoring. This is resulting in precise monitoring over longer duration and diagnosis of cardiovascular diseases at much earlier stage leading to prevention of serious events.
On the basis of regions, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the CM and CRM Devices Market in 2015, followed by Europe. However, Asia is expected to register the highest growth rate during the forecast period, owing to the emerging markets such as China, and India. Factors such as increased spending power of people, growing healthcare awareness is resulting in adoption of technologically advanced monitoring. Moreover, as the markets in the U.S. and Europe are getting mature, a majority of markets players are expected to shift their focus on emerging markets.
Major players operating in the Cardiac Monitoring Market are Medtronic Inc. (U.S.), GE Healthcare (U.K.), Boston Scientific Corporation (U.S.), Philips Healthcare (Netherlands), and St. Jude Medical Inc. (U.S.).
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