Himanshu Patni: Cardiac Monitoring Market - Industry Size, Share, Growth & Forecast 2027

The cardiac monitoring market is expected to register a CAGR of around 6% over the period of 2021-2027. Cardiac monitoring is a process in which a device records a patient’s heart rate and rhythm and shows the electrical waveforms of the cardiovascular system for measurement and treatment. Furthermore, the market is expected to witness a significant during the forecast period owing to the rising cardiovascular diseases, heart arrhythmia, coronary heart diseases, and the growth of the geriatric population. In addition, obesity, unhealthy diet, diabetes, and hypertension contributes directly to increased risk of cardiovascular diseases.

COVID-19 has posed challenges for physicians whose cardiac patients are at-risk and reluctant to schedule an office visit has led to an increase in the preference for remote monitoring of patients with cardiovascular conditions. This shift has been adopted with a view to reduce the chances of infections due to frequent hospital and clinic visits. Various studies suggested that even a mild case of COVID-19 can increase a person’s risk of cardiovascular problems. Thus, it became important to regularly monitor the patients for any risk of cardiovascular diseases. This supported the demand for cardic monitoring devices during the pandemic and expected to witness the steady rise during the forecast period.

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According to UnivDatos Market Insights (UMI)’ research report “global cardiac monitoring market”, the market is expected to witness robust growth during the forecast period 2021-2027F. Rising incidences of cardiovascular diseases (CVDs), increasing adoption of wearable cardiac devices, and an increasing number of patient visits to hospitals and ambulatory surgery centers for diagnosis and treatment of CVDs are factors expected to drive the growth of the global cardiac monitoring market. Furthermore, cardiovascular diseases are one of the main causes of disability and death in the U.S. CVD-related diseases such as cardiac arrest, stroke, and ischemic heart disease accounted for more than 80% of deaths globally. For instance, according to the World Population Ageing Report 2019 by United Nations (UN), In 2019, there were 703 million persons aged 65 years or over in the global population. This number is projected to double to 1.5 billion in 2050.

Based on type, the market is classified into ECG monitor, event recorder, implantable cardiac loop recorder, pacemaker, defibrillator, cardiac resynchronization therapy (CRT) devices, smart wearable, and others. Amongst them, in 2020, the ECG monitor category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising incidence of patients suffering from CVDs has increased efficient diagnosis, thus creating demand for ECG machines. Additionally, the market growth is driven by the rising geriatric population coupled with rising incidences of heart and lung diseases such as coronary artery diseases (CAD) and cardiac failure or severe acute respiratory distress syndrome (ARDS). According to WHO, Cardiovascular diseases (CVDs) are the leading cause of death worldwide. Furthermore, around 17.9 million people died because of CVDs in 2019.

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Based on end-User, the market is bifurcated into hospitals and clinics, ambulatory surgery centers (ASC), home care settings, and others. In 2020, the hospitals and clinics category accounted for the majority share during the forecast period owing to the increasing construction of hospitals, the large number of patients treated at hospitals, the availability of trained professionals to operate cardiac monitoring devices, and a surge in the number of heart surgeries in the hospital setting. However, ambulatory surgical centers are also likely to witness the fastest growth during the forecast period. In the U.S., about 18 million adults aged 20 and older have coronary artery disease (CAD). Furthermore, according to American Heart Association (AHA), coronary heart diseases cause 1 in every 7 deaths in the U.S., resulting in about 366,800 deaths each year. In addition, in 2020, there were 2.2 million new cases of lung cancer reported.

North America to witness extensive growth

For a better understanding of the market adoption of the cardiac monitoring industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America); Europe (Germany, United Kingdom, France, Spain, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Rest of Asia-Pacific); and the Rest of World. In 2020. North America held the extensive market share owing to the increasing prevalence of CVDs, diabetes, and hypertension coupled with the rising geriatric population in the region. According to the US Census Bureau analysis, the elderly population is expected to nearly double in the next 25 years. In addition, according to World Population Ageing, in 2019, the elderly population of North America was 59.9 million which is expected to reach 96.2 million by 2050.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global cardiac monitoring market are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Biotronik, Livanova, Schiller, Biotelemetry, Applied Cardiac System, Hill-Rom Services

“Global Cardiac Monitoring Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Type (ECG monitors, Event Recorder, Implantable Cardiac Loop Recorder, Pacemaker, Defibrillator, Cardiac Resynchronization Therapy (CRT) Devices, Smart Wearable, and Other)

2. By End-User (Hospitals & Clinics, Ambulatory Surgery Centers (ASC), Others)

3. By Region (North America, Europe, Asia-Pacific, Rest of the World)

4. By Company (Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Biotronik, Livanova, Schiller, Biotelemetry, Applied Cardiac System, Hill-Rom Services.)

Key questions answered in the study:

1. What are the current and future trends of the global cardiac monitoring industry?

2. How the industry has been evolving in terms of equipment and application?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global cardiac monitoring industry?

5. What is the customer orientation, purchase behavior, and expectations from the global cardiac monitoring suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 CARDIAC MONITORING MARKET COVID-19 IMPACT

6 CARDIAC MONITORING MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY END-USER

9 MARKET INSIGHTS BY REGION

10 CARDIAC MONITORING MARKET DYNAMICS

11 CARDIAC MONITORING MARKET OPPORTUNITIES