Ambulatory Cardiac Monitoring Devices Market (By Type: ECG Devices, Holter Monitors, Event Monitors, Implantable Loop Recorders, and Mobile Cardiac Telemetry) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

Published Date : Jul 2021 | No. of Pages : 150+ Pages | Category : Healthcare

The global ambulatory cardiac monitoring devices market value reached at US$ 13.4 billion in 2020 and projected to surpass around US$ 28.7 billion by 2030.

Ambulatory cardiac monitor tracks and records heart activity during the day. Most devices are about the size of a mobile phone. Rise in prevalence of cardiac disorders, aging population, and increase in access to healthcare are key factors propelling the global ambulatory cardiac monitoring devices market. Obesity, diabetes mellitus, smoking, high cholesterol, high blood pressure, and sedentary lifestyles are the leading causes of heart failure. The rise in the number of people affected by these diseases fuels the demand for ambulatory cardiac monitoring devices.

The utilization of implantable cardiac monitors has increased to keep track of the irregularity of heart rhythm compared to Holter and other external patch. Insertable cardiac monitors (ICMs, or implantable loop recorders, ILRs) are small subcutaneous devices that continuously monitor the heart rhythm and record events for several years. Insertable cardiac monitors are commonly used to monitor patients with syncope or stroke of unknown origin for infrequent rhythm abnormalities, as well as for long-term monitoring of atrial fibrillation post ablation. ICMs i.e., insertable cardiac monitors, are small, subcutaneously implanted devices offering continuous ambulatory electrocardiogram (ECG) monitoring with a lifespan of up to three years.

Rise in Demand for Prolonged ECG Monitoring, Self-Care Management to Drive Global Market

The steady increase in the usage of ambulatory cardiac monitors for the treatment of cardiac arrhythmia and other cardiac diseases is expected to drive the global market during the forecast period. Ambulatory cardiac monitors are for external as well as internal use. For instance, implantable loop recorders can be implanted subcutaneously with a battery life of three years. This results in prolonged monitoring of electrical activity in the heart. This, in turn, boosts the demand for implantable cardiac monitors. Ambulatory cardiac monitors also promote self-care management, owing to continuous monitoring and reporting of irregular heartbeats to the physician. These monitors have made data transmission easier.

Most people have cellphones with them all the times and hence, it is feasible to consider mHealth as an effective mechanism not only to transmit real-time ECG data to a healthcare provider and receive immediate feedback, but also to improve patient engagement and self-management.

Increase in Burden of Cardiovascular Diseases, Early Detection to Track Heart Conditions to Propel Global Market

Ambulatory cardiac monitoring devices help monitor the heart continuously, which leads to the detection of chronic heart conditions such as stroke and heart failure. By focusing on functional and structural abnormalities of the arteries and heart, it should, therefore be possible to identify and track the progression of disease.

Prominent Regions

In terms of region, the global ambulatory cardiac monitoring devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 

North America dominated the global ambulatory cardiac monitoring devices market in 2020, followed by Europe and Asia Pacific. North America is projected to be a highly attractive market from 2021 to 2031. Significant revenue from the region can be attributed to increase in government and private funding and large volume of tests performed for cardiac diseases. Moreover, high prevalence of heart failure due to aging population and changes in dietary habits are anticipated to drive the global ambulatory cardiac monitoring devices market in North America.

The ambulatory cardiac monitoring devices market in Asia Pacific is expected to be driven by high adoption of ambulatory cardiac monitoring devices. According to a study published in the Radcliffe Cardiology journal, heart failure is a major health problem in Asia Pacific and its prevalence seems to be higher than countries in the West. Rise in awareness about heart failure and risk of sudden cardiac arrest associated with this condition propels the market in the region.

Key Players

    • Abbott
    • Boston Scientific Corporation
    • GE Healthcare
    • Hill-Rom Holdings
    • Koninklijke Philips N.V.
    • Medtronic
    • Nihon Kohden Corporation
    • Asahi Kasei Medical Co., Ltd.

Market Segmentation

By Type

    • ECG Devices
      • Resting ECG Devices
      • Stress ECG Devices
    • Holter Monitors
    • Event Monitors
    • Implantable Loop Recorders
    • Mobile Cardiac Telemetry

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

 

In this study, the years considered to estimate the market size are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2030

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

 


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