Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Cardiac Device (Pacemaker and Others), by Cardiac Monitoring (Electrocardiogram), by CRM (Defibrillators and Others), by End-User (Hospitals and Others)–Global Forecast Till 2030
ID: MRFR/MED/4871-HCR | 85 Pages | Author: Rahul Gotadki | May 2023
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Global Cardiac Monitoring and Cardiac Rhythm Management Device Market
Cardiac monitoring and cardiac rhythm management device market is expected to grow at USD 32.1 billion at a CAGR 6.5% by 2030.
$32.1 billion
6.5%
North America
2022-2030
Cardiac Monitoring and Cardiac Rhythm Management Device Market Overview
Cardiac monitoring and cardiac rhythm management device market is expected to grow USD 32.1 billion during the forecast period (2022 to 2030) at a CAGR 6.5%. The cardiac monitoring equipment aids in the observation of the patient's cardiac activity, while the cardiac rhythm management device assists patients with irregular heart rates and rhythm disorders maintain a normal cardiac rhythm. Heart failure, atrial fibrillation, atrial flutter, an indication of a recent heart attack, lack of oxygen delivery to cardiac muscle, and some genetic defects are among the major cardiac illnesses treated using these devices. Increased cardiac illnesses, changing lifestyles, technological improvements in cardiac devices, knowledge of cardiac disorders, healthcare programs, and an increase in the number of unmet medical requirements in both developed and developing countries have all contributed to the market's expansion. During the forecast period, however, the development of novel MRI-labeled devices and the growth of the Asia-Pacific economy are expected to drive the cardiac monitoring device market. Family history, ethnicity, and age are all important risk factors for Cardiac Monitoring and Cardiac Rhythm Management Device Market. The use of tobacco, high blood pressure (hypertension), high cholesterol, obesity, physical inactivity, diabetes, poor diets, and alcohol use are all risk factors. There has been an increase in the incidence of diseases such as hypertension, diabetes, dyslipidemia, and obesity as a result of lifestyle changes, all of which contribute to the rising incidence of Cardiac Monitoring and Cardiac Rhythm Management devices around the world.
Segmentation
The global cardiac monitoring and cardiac rhythm management device market is segmented into types of cardiac devices, types of cardiac monitoring devices, types of cardiac rhythm management devices, and end-users. Further, the types of cardiac devices are segmented into pacemaker, biventricular pacemaker, implantable cardioverter defibrillator, and implantable cardiac loop recorder. Based on the types of cardiac monitoring devices the market is further segmented into electrocardiogram (ECG), Holter monitor, event monitor, implantable loop recorder, and cardiac output monitoring devices. Electrocardiogram (ECG) is further sub-segmented into telelectro-cardiogram, wireless ECG, and lead ECG test. Based on types of cardiac rhythm management devices, the market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices. Defibrillations are further sub-segmented into implantable defibrillators and external defibrillators. Based on end-user the market is segmented into hospitals, ambulatory surgical centers, and others.
Regional Market Summary
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The market of cardiac monitoring and cardiac rhythm management device in the Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada. The European cardiac monitoring and cardiac rhythm management device market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The market of cardiac monitoring and cardiac rhythm management device in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The cardiac monitoring device market in the Middle East and Africa has been segmented into the Middle East and Africa.
In terms of market value, North America will dominate the global cardiac monitoring and cardiac rhythm management device market during the forecast period. The increasing investment by North America in cardiac devices over the last few years has led to the growth of the market in this region. Increasing number of cardiac patients, better healthcare infrastructure, and advanced technology in cardiac monitoring equipment have boosted the market of cardiac monitoring and cardiac rhythm management device in North America. The European market is expected to be the second-largest cardiac monitoring device market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, a growing number of surgeries due to the changing lifestyle is contributing to the growth of the market in this region. Asia-Pacific is expected to be the fastest-growing cardiac monitoring device market during the forecast period owing to the increasing prevalence of cardiac diseases, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving strong competition in the global cardiac monitoring device market by producing cost-effective products that are high in demand in local as well as global markets. The market in the Middle East and Africa is expected to account for the smallest share in the global cardiac monitoring device market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Key Players
Some of the key players in the global cardiac monitoring and cardiac rhythm management device market are Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.
Cardiac Monitoring and Cardiac Rhythm Management Device Market Segment
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Devices Outlook
- Pacemaker
- Biventricular Pacemaker
- Implantable Cardioverter Defibrillator
- Implantable Cardiac Loop Recorder
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Monitoring Devices Outlook
- Electrocardiogram (ECG)
- Telelectro-Cardiogram
- Wireless ECG
- Lead ECG Test
- Holter Monitor
- Event Monitor
- Implantable Loop Recorder
- Cardiac Output Monitoring Device
Cardiac Monitoring and Cardiac Rhythm Management Device Types of Cardiac Rhythm Management (CRM) Devices Outlook
- Defibrillators
- Implantable Defibrillators
- External Defibrillators
- Pacemakers
- Cardiac Resynchronization Therapy Devices
Cardiac Monitoring and Cardiac Rhythm Management Device End-User Outlook
- Hospital
- Home/Ambulator
- Others
Cardiac Monitoring and Cardiac Rhythm Management Device Region Outlook
America
- North America
- US
- Canada
- South America
Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Middle East and Africa
- Middle East
- Africa
Recent Development
The MoMe Kardia external cardiac diagnostic monitor from InfoBionic became the sole US distributor for BIOTRONIK in 2018. This has allowed the company to extend its cardiovascular solution portfolio, allowing physicians to provide the finest care as quickly and efficiently as possible. Nihon Kohden created a sales branch in Kenya in 2017. This approach has aided the company's ability to maintain a solid consumer base across the Middle East and Africa. Gallant, an implantable cardioverter-defibrillator (ICD), will be available in Europe in 2020, according to Abbott Laboratories.
Intended Audience
- Government and Academic Institutes
- Research Laboratories
- Diagnostic Centers and Research Institutes
- Cardiac Monitoring and Cardiac Rhythm Management Device Manufacturers
- Healthcare Providers
- Medical Device Manufacturers
- Research Institutes and Academic Centers
- Contract Research Organizations (CROs)
- Government Associations
- Market Research and Consulting
Report Scope:
| Report Attribute/Metric | Details |
| Market Size in 2030 | USD 32.1 billion |
| CAGR | 6.5% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Types and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott. |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | Increased cardiac illnesses increase in the number of unmet medical |
Frequently Asked Questions (FAQ) :
The Cardiac Monitoring and Cardiac Rhythm Management Device Market can expand at 6.5% CAGR by 2030.
Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.
increase in the number of unmet medical requirements
North America region is expected to be highly lucrative for the global Cardiac Monitoring and Cardiac Rhythm Management Device Market
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