Asia-Pacific Cardiac Monitoring - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Asia-Pacific Cardiac Monitoring - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Asia-Pacific Cardiac Monitoring Market size is estimated at USD 4.65 billion in 2024, and is expected to reach USD 6.16 billion by 2029, growing at a CAGR of 5.77% during the forecast period (2024-2029).

Cardiac monitoring devices are used to monitor and diagnose various abnormalities or disorders of the heart. The cardiac monitoring market is driven by rising burden of cardiovascular diseases, a growing ageing population who are very susceptible to coronary heart diseases, technological developments in cardiac monitoring devices that minimise the chances of infection, and improved efficiency of devices. Smoking is one of the major underlying causes of lung cancer and cardiac diseases. According to World Health Organisation (WHO), smoking causes around 1 million cardiovascular deaths in Asia-Pacific region each year. More than 1 in 5 cardiovascular diseases, such as heart attack and stroke, result from smoking. The Heart Foundation states that CVD is a major cause of death in Australia, with 43,477 deaths attributed to CVD in 2017. The rate of diagnosis of cardiovascular diseases is increasing over time due to rising burden of cardiac diseases and the need to control mortality rate by early diagnosis, and treatment for CVD with the help of cardiac monitoring devices. The other factors, such as technological advancements and the demand for home-based, point of care and remote monitoring cardiac systems are also anticipated to drive the market in the forecast period.

Asia-Pacific Cardiac Monitoring Market Trends

ECG Monitor Segment is Expected to Show Better Growth in the Forecast Years

Based on Device type, the market is segmented into ECG Monitor, Event Recorder, Implantable Cardiac Loop Recorder, Pacemaker, Defibrillator, CRT Devices, Smart Wearable and others. The ECG devices can be used for the continuous monitoring of patients suffering from CVD and for the detection of problems when they are usually easier to treat, while avoiding life-threatening and expensive emergency admissions.Thedevelopment of commercially advanced devices,with enabled Bluetooth sensor technology and mobile app technology is expected to drive the popularity of ECG Monitors. In 2018, Qardio, Inc., received the approval from Australia's Therapeutic Goods Administration (TGA) for QardioCore, its revolutionary ECG monitor.Furthermore, technological advancements and product innovations taking place in the development of ECG devices are likely to propel the market growth.

Asia-Pacific Cardiac Monitoring Industry Overview

The major players into the Asia-Pacific cardiac monitoring market are Abbott Laboratories, Biotronik, Boston Scientific Corporation, GE Healthcare, Hill-Rom Holdings, Inc., Medtronic PLC, MicroPort Scientific, Schiller AG.

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