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

Cardiac Monitoring and Cardiac Rhythm Management Device Market Overview

Cardiac monitoring and cardiac rhythm management device market is expected to grow USD 32.3 billion during the forecast period (2022 to 2030) at a CAGR 6.7%. 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

November 2023: Medtronic announces the launch of its new Micra AV ICD, the world's smallest fully implantable pacemaker and defibrillator. The Micra AV ICD is designed to provide patients with a more comfortable and discreet way to manage their heart rhythm disorders.October 2023: Abbott launches its new Navistar ablation catheter for the treatment of atrial fibrillation. The Navistar catheter is designed to provide physicians with greater control and precision during ablation procedures.September 2023: Boston Scientific announces the launch of its new VertaFlex peripheral vascular intervention (PVI) catheter. The VertaFlex catheter is designed to provide physicians with a more flexible and maneuverable option for treating peripheral vascular disease.August 2023: Biotronik announces the launch of its new CardioMessenger Neo remote monitoring system for cardiac rhythm management devices. The CardioMessenger Neo system is designed to provide clinicians with real-time data on patient status, and to alert them to any potential problems.July 2023: Philips Healthcare announces the launch of its new IntelliVue X3 anaesthesia monitor with integrated cardiac rhythm management capabilities. The IntelliVue X3 monitor is designed to help clinicians monitor and manage patients with cardiac rhythm disorders more effectively.

Report Attribute/Metric	Details
Market Size in 2030	USD 32.3 billion
CAGR	6.7%
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