Cardiac Arrhythmia Monitoring Devices Market Analysis And Forecast To 2031: By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), By Application (Tachycardia, Bradycardia, Prema

Cardiac Arrhythmia Monitoring Devices Market Analysis And Forecast To 2031: By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), By Application (Tachycardia, Bradycardia, Premature Contractions), By End-use (Hospitals and Clinics, Diagnostics Centers, Ambulatory Surgical Centers, Homecare Settings), And Region

The global cardiac arrhythmia monitoring devices market was valued at USD 6.4 billion in 2021 and it is anticipated to grow up to USD 10.3 billion by 2031, at a CAGR of 5.5% during the forecast period.

Cardiac arrhythmia monitoring devices are mainly used for monitoring patients with high risk of arrhythmic conditions. These devices help healthcare professionals in monitoring irregular heartbeat for better diagnosis and treatment of CVD patients to reduce associated mortalities.

Market Trends and Drivers

Development of technologically advanced monitoring devices including wireless monitors that offers benefit of early detection is expected to augment the industry growth. The use of cardiac rhythm monitoring (CRM) devices has significantly surged in the recent years due to rising life expectancy and constant advancements that have extended their abilities and scope. Recent developments in CRM devices are positively impacting the rate of product approval in developed markets that will further strengthen the industry growth potential. For instance, Medtronic has received approval for its exclusive device named CareLink SmartSync Device Manager that assists healthcare professionals to program and handle data from its BlueSync-equipped implanted CRM device. Thus, aforementioned industry developments are anticipated to impel the market expansion.

Market Restraints and Challenges

The key restraints and challenges in the Cardiac Arrhythmia Monitoring Devices market are the high cost of the devices, the lack of trained personnel to operate the machines, and the limited availability of the devices in developing countries.

Global Cardiac Arrhythmia Monitoring Devices Market Segmental Overview

The report analyses the global cardiac arrhythmia monitoring devices market based on device, application, end-user, and region.

Global Cardiac Arrhythmia Monitoring Devices Market by Device

Based on device, it is segmented into Holter monitor, event recorder, mobile cardiac telemetry, implantable cardiac monitor, electrocardiogram (ECG) monitor and others. Among these, Holter monitor accounted for significant market share in 2021. The segment growth is attributable to the higher disease prevalence due to the increasing consumption of unhealthy food and hectic lifestyle affecting cardiac health and that leads to cardiac blockages and arrests. Furthermore, the Holter monitor offers advantage of cardiac rhythm management without interfering with a patient's daily activities and assist in detection of abnormal heart rhythm at early stage. The revenue growth is further accompanied by cost-effectiveness of these devices contributing to the increasing adoption rate in procedures.

Global Cardiac Arrhythmia Monitoring Devices Market by Application

Based on the application, he cardiac arrhythmia monitoring devices market is segmented into tachycardia, bradycardia, premature contraction, and others. The tachycardia monitoring devices segment is forecast to grow at highest CAGR during the analysis timeframe. Increasing adoption of technologically advanced products for the disease monitoring is expected to boost the demand for tachycardia monitoring devices in the forthcoming years. Atrial tachycardia accounted for a majority share in 2021 and is expected to witness lucrative growth in near future. It is a form of supraventricular tachycardia,that requires intensive treatment for better outcomes. Cardiac arrhythmia monitoring devices play a significant role in better diagnosis and treatment of the disease. Thus, with increasing risk of tachycardia, the cardiac arrhythmia monitoring devices market is projected to witness considerable growth in near future.

Global Cardiac Arrhythmia Monitoring Devices Market by End-user

With regards to end-user, the cardiac arrhythmia monitoring devices market is divided into hospitals and clinics, diagnostics centers, ambulatory surgical centers, homecare settings and others. The hospitals and clinics segment dominated the market in 2021 and is anticipated to witness substantial growth during the forecast period. Rising prevalence of cardiac arrhythmia across the globe coupled with increasing geriatric pool will drive the hospital admission rates for the treatment. Additionally, in emergency hospitalizations, healthcare professionals require cardiac rhythm monitors to analyse the probable risk of cardiac arrhythmia. Furthermore, arrhythmia is one of the most severe conditions in critically ill COVID-19 patients. As a result, the prevalence of COVID-19 has also driven the supply of cardiac monitoring devices in hospitals. Thus, the rising adoption of monitoring devices in response to increasing hospitalizations will impel the market statistics.

Geographical Analysis of Global Cardiac Arrhythmia Monitoring Devices Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America cardiac arrhythmia monitoring devices market revenue is poised to grow significant CAGR during the forthcoming years. This can be credited to the increasing prevalence of cardiovascular diseases coupled with growing awareness regarding the advanced monitoring techniques will boost the regional market growth. According to the CDC, about 12.1 million people in the U.S. are expected to have atrial fibrillation (AFib) by 2030. This is anticipated to augment the demand for cardiac arrhythmia monitoring devices. Additionally, presence of major market players involved in the commercialization of advanced devices will also boost regional market expansion. Moreover, developed healthcare infrastructure leading to the rising adoption of technologically advanced cardiac arrhythmia monitoring devices is forecast to propel the regional market demand.

Major Players in the Global Cardiac Arrhythmia Monitoring Devices Market

The key players in the cardiac arrhythmia monitoring devices market are

COVID-19 Impact

The COVID 19 pandemic had a moderately positive impact on the adoption of cardiac arrhythmia monitoring devices in 2020. Furthermore, the reducing number of COVID-19 patients and the continuation of all healthcare services has influenced product demand. Several healthcare businesses are collaborating to increase the manufacturing capacity of cardiac arrhythmia monitoring equipment such as Holter monitors, patches, and wearable ECG, among others, in order to provide medical treatment while keeping track of patients' development. As a result of the reducing number of COVID-19 infections among the population, the market will witness rapid expansion in the near future.

Recent Developments

• In November 2021, Philips signed agreement to acquire Cardiologs, a medical technology company focused on transforming cardiac diagnostics using cloud technology and artificial intelligence (AI). This acquisition complements the company’s product portfolio of cardiac monitoring and diagnostics devices, thereby offering revenue growth opportunities in the market.
• In February 2020, AliveCor received approval from the Federal Commission for the Protection Against Sanitary Risk (COFEPRIS) to launch KardiaMobile in Mexico. The company has partnered with Inpharamo to implement the medical-grade ECG across the country. This has enabled company to expand its global footprint as well as customer base in the market.

Frequently Asked Questions

Q1. How big is the cardiac arrhythmia monitoring devices market?Ans. The global cardiac arrhythmia monitoring devices market size was USD 6.4 billion in 2021 and is anticipated to reach USD 10.9 billion in 2031, growing at a rate of 5.5% from 2022 to 2031.Q2. What is the cardiac arrhythmia monitoring devices market growth rate?Ans. The growth rate of the cardiac arrhythmia monitoring devices market is 5.5%.Q3. Which region holds a major market share for the market?Ans. North America holds a major market share of the cardiac arrhythmia monitoring devices market in 2021.Q4. Which segment accounted for the largest cardiac arrhythmia monitoring devices market share?Ans. By end user, the hospitals & clinics segment accounted for the largest cardiac arrhythmia monitoring devices market share.Q5. Who are the key players in the flexible endoscopes market?Ans. The global cardiac arrhythmia monitoring devices market report includes players such as Q6. What are the factors driving the cardiac arrhythmia monitoring devices market growth?Ans. The major factors driving the growth of the market are growing prevalence of cardiovascular diseases and expenditure on cardiac health globallyQ7. What are the key growth strategies of cardiac arrhythmia monitoring devices market players?Ans. The key growth strategies of cardiac arrhythmia monitoring devices market players are product launch and product approval.Q8. Which region will provide more business opportunities for the cardiac arrhythmia monitoring devices market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the cardiac arrhythmia monitoring devices market during the forecast period.

Please Note: This report will be delivered by publisher within 3-4 business days of order confirmation.