Cardiac Arrhythmia Monitoring Devices Market Size By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), By Application (Tachycardia {Atrial Tachycardia, Ventricular Tachycardia}

Cardiac Arrhythmia Monitoring Devices Market Size By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), By Application (Tachycardia {Atrial Tachycardia, Ventricular Tachycardia}, Bradycardia, Premature Contractions), By End-use (Hospitals and Clinics, Diagnostics Centers, Ambulatory Surgical Centers, Homecare Settings), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The cardiac arrhythmia monitoring devices market is expected to witness sturdy growth by 2028 owing to recent technological advancements in medical devices around the world. Additionally, widespread adoption of telemetry and mobile cardiac monitors is likely to foster market development over the forecast period.

Rapid roll out of smart wearable devices to provide personalized patient care in view of increasing decentralization and adoption of remote healthcare services catalyzed by the COVID-19 pandemic has augmented industry uptake in recent years.

The cardiac arrhythmia monitoring devices market has been segregated on the basis of end-use, device, application, and region. From the device perspective, the market has further been bifurcated into implantable cardiac monitor, ECG (electrocardiogram) monitor, event recorder, mobile cardiac telemetry, Holter monitor, and others (patch).

In 2021, the event recorder sub-segment attained a revenue share of nearly 18% in the market and is slated to grow at a robust pace through the review period. This growth is attributed to the increasing rate of product launches and the rising prevalence of heart-related disorders. Moreover, the ease-of-use and portability of event recorders would boost consumer preference for these devices, which is likely to accelerate segmental growth in the coming time period.

In terms of application, the cardiac arrhythmia monitoring devices market has been classified into premature contraction, tachycardia, bradycardia, and others. In 2021, the premature contraction sub-segment was valued at around USD 300 million and is projected to expand at a significant CAGR through the stipulated timeline. Growing disease prevalence rates and mounting risk of cardiomyopathy are estimated to bolster market development. In addition, high accuracy of advanced devices in disease monitoring is set to fuel segmental growth over 2022-2028.

With respect to end-use, the market has been divided into homecare settings, hospitals and clinics, ambulatory surgical centers, diagnostic centers, and others. The cardiac arrhythmia monitoring devices industry share from the diagnostic centers sub-segment is anticipated to expand at a CAGR of approximately 6.7% over the analysis timeframe owing to growing research activities and improving healthcare infrastructure. Moreover, notable expansion of diagnostic capabilities and the proliferating facility network are slated to propel industry uptake over the forthcoming years.

On the regional front, the Latin America cardiac arrhythmia monitoring devices market is poised to grow at more than 5.9% CAGR through the estimated timeframe due to increasing awareness among patients regarding various cardiac arrhythmia monitoring devices and expanding geriatric population worldwide. In addition, surging penetration of leading companies in the LATAM region and rising incidences of atrial flutter and atrial fibrillation are speculated to drive regional market expansion.