Cardiac Monitoring & Cardiac Rhythm Management - Global Market Outlook (2019-2027)
"According to Stratistics MRC, the Global Cardiac Monitoring & Cardiac Rhythm Management Market is accounted for $25,152.56 million in 2019 and is expected to reach $48,665.45 million by 2027 growing at a CAGR of 8.6% during the forecast period. The rising rate of cardiac disorders, patient awareness, and the growing number of unmet medical needs in developing and underdeveloped countries are the major factors propelling the growth of the market. However, limited insurance coverage options and the high cost of these devices are hampering the growth of the market.
The cardiac monitoring enables the observing of a patient’s cardiac activity. Cardiac rhythm management maintains a normal cardiac rhythm in patients suffering from irregular heart rate and rhythm disorder. The cardiac monitoring & cardiac rhythm management include devices that help the patients to manage and treat arrhythmia-related diseases. These devices play a crucial role in the treatment of serious cardiac disorders, including indications of recent heart attack, fibrillation, heart failure, coronary ischemia, atrial flutter, lack of oxygen supply to cardiac muscles, effects of drugs, and certain genetic errors among others.
Based on the product, the defibrillators segment is expected to grow at a significant market share during the forecast period owing to the rising demand for quality medical care, growing adoption of technologically advanced defibrillators, and high incidence of cardiovascular diseases (CVDs) and sudden cardiac arrest (SCA). Moreover, the growing focus of private & public organizations and key market players on public access defibrillators fuels the growth of the market. Besides, enhancing the ability of industry, promoting innovation in next-generation external defibrillators to improve safety and effectiveness, identifying and addressing problems associated with devices by the FDA, and focusing on the SCA are anticipated to create lucrative opportunities for the defibrillators.
By geography, North America is anticipated to hold considerable market share during the forecast period due to the increasing elderly population, rising disposable income, rapid technological advancements such as miniaturization, long battery life, leadless or biocompatible materials, and improving the rate of management rigid approvals. The incidence of cardiac disorders, such as heart failure, cardiac arrests, and cardiac arrhythmias, is increasing at a rapid rate in the U.S., which is further boosting the growth of the market for cardiac monitoring and cardiac rhythm management in the North America region.
Some of the key players profiled in the Cardiac Monitoring & Cardiac Rhythm Management Market include Stryker Corporation, St. Jude Medical, Inc., Siemens AG, SCHILLER AG, ReliantHeart Inc., OSI Systems, Inc., Nihon Kohden Corporation, Mortara Instrument, Inc., Medtronic plc, LivaNova PLC, Koninklijke Philips N.V., Jarvik Heart, Inc., Hill-Rom Holdings, Inc., General Electric Company (GE), Cardionet Inc., Cardiac Science Corporation, Boston Scientific Corporation, Biotronik SE & Co. KG, Berlin Heart GmbH, Asahi Kasei Corporation, Abiomed, Inc., and 3M Company.
End Users Covered:
• Hospitals, Clinics, & Cardiac Centers
• Home Settings
• Ambulatory Surgical Centers (ASCs)
• Implantable Loop Recorders (ILR)
• Cardiac Output Monitoring (COM) Devices
• Event Monitors
• Electrocardiogram (ECG) Devices
• Mobile Cardiac Telemetry
• Smart Wearable ECG Monitors
• Cardiac Resynchronization Therapy (CRT) Devices
• Ventricular Assist Devices (VADs)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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