Cardiac Monitoring Market - Global Outlook & Forecast 2022-2027

Cardiac Monitoring Market - Global Outlook & Forecast 2022-2027

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Cardiac Monitoring Market Report

COVID-19 led to an increasing preference for remote monitoring patients with cardiovascular conditions. The government and some vendors have also taken various steps to raise awareness among patients and the public. September marks National Atrial Fibrillation (AF) Awareness Month, a critically important time for the Heart Rhythm Society to raise awareness for this life-threatening arrhythmia. The market is expected to grow significantly during the forecast period due to increasing technological advancements, new product launches, increasing elderly population, and reimbursement policies for implantable cardiac monitors & other ambulatory devices. Moreover, the COVID-19 impact will result in AI-based cardiac monitoring devices gaining traction across all regions.

The cardiac monitoring market is expected to grow at a CAGR of 5.86% during the forecast period

MARKET OPPORTUNITIES AND GROWTH DRIVERS

• Technological Advancements in Cardiac Monitoring
• Increase in Demand for Compact, Mobile, & Wearable Cardiac Monitors
• Artificial Intelligence in Cardiac Monitoring
• The increasing global prevalence of cardiovascular diseases
• Growing Popularity of Smart Wearable Cardiac Monitoring Devices

The Global Cardiac Monitoring Market is segmented based on Product, Mode, End-user, and Geography. Based on products, the global cardiac monitoring is segmented into resting ECG, stress ECG, cardiac event monitors, Holter monitors, output monitoring devices, implantable cardiac monitoring devices, and mobile cardiac telemetry. The resting ECG segment accounted for a major share of 38.95% in 2021. In developing countries, physicians are forced to use resting ECG devices instead of the latest high-end devices due to the cost-effective factor. This is driving growth in resting ECG devices sales.

Based on mode, the global cardiac monitoring market is segmented into standard and ambulatory. The ambulatory cardiac monitoring market will grow with an absolute rate of 79.5% in the forecast period. Based on end-user, the global Cardiac Monitoring market is segmented into hospitals, specialty cardiac centers and clinics, diagnostic centers and others.The hospital segment had the highest share amongst end-users.

BY GEOGRAPHY

• North America, Europe, APAC, Latin America, Middle East & Africa

North America is a major revenue contributor and is the fastest-growing market for cardiac monitoring devices. The presence of a large pool of patients with atrial fibrillation requiring cardiac monitoring devices, higher acceptance of advanced and innovative cardiac monitoring devices, and high awareness toward the availability of advanced treatment options using devices for atrial fibrillation and stroke have collectively supported North America’s dominance in the global market.

VENDOR LANDSCAPE

Major vendors in the cardiac monitoring market include Abbott, Boston Scientific, Medtronic, GE Healthcare, Philips Healthcare, Mortara Instrument and Welch Allyn owned by Hill-Rom Services, Spacelabs Healthcare owned by OSI Systems, and iRhythm Technologies.

THE REPORT INCLUDES:

1. The analysis of the global cardiac monitoring market provides market size and growth rate for the forecast period 2022-2027.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the cardiac monitoring market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of the global cardiac monitoring market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.