Cardiac Monitoring and Cardiac Rhythm Management Device Market Research Report –Forecast to 2027

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 2027

ID: MRFR/MED/4871-HCR | February 2021 | Region: Global | 85 pages

Please note that the assessment period of report has been updated from 2018-2023 to 2020-2027. Cordially fill the sample form for updated data.

Market Scenario

Global cardiac monitoring and cardiac rhythm management device market is expected to grow during the forecast period (2018 to 2023) at a CAGR ~4%.

The cardiac monitoring device helps in observing the patient’s cardiac activity and the cardiac rhythm management device maintains normal cardiac rhythm in patients suffering from irregular heart rate and rhythm disorder. These devices play an important role in the treatment of serious cardiac disorders including heart failure, atrial fibrillation, atrial flutter, an indication of recent heart attack, lack of oxygen supply to cardiac muscle, and certain genetic errors, among others. Factors such as increasing cardiac disorders, changing lifestyle, technological advancements in cardiac devices, awareness regarding cardiac disorders, healthcare programs, and increasing number of unmet medical needs in developed and undeveloped countries have led to an increase in the growth of this market. However, the development of new MRI-labeled devices and the growth of the economy in the Asia-Pacific region are likely to drive the cardiac monitoring device market during the forecast period.

However, the high cost of these devices in developing nations, preference of drugs over devices in the cardiac treatment, and limited insurance coverage options are some of the factors which are hampering the growth of the market.

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

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market Share, by Region, 2018 (%)

Cardiac Monitoring and Cardiac Rhythm Management Device Market

Source: MRFR Analysis

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The cardiac monitoring and cardiac rhythm management device market 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 cardiac monitoring and cardiac rhythm management device market 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 cardiac monitoring and cardiac rhythm management device market 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.

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Devices

Pacemaker

Biventricular Pacemaker

Implantable Cardioverter Defibrillator

Implantable Cardiac Loop Recorder

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Monitoring Devices

Electrocardiogram (ECG)

Telelectro-Cardiogram

Wireless ECG

Lead ECG Test

Holter Monitor

Event Monitor

Implantable Loop Recorder

Cardiac Output Monitoring Device

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Rhythm Management (CRM) Devices

Defibrillators

Implantable Defibrillators

External Defibrillators

Pacemakers

Cardiac Resynchronization Therapy Devices

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by End-User

Hospital

Home/Ambulator

Others

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Region

Americas

North America

Canada

South America

Europe

Western Europe

Germany

France

Italy

Spain

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

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

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

Chapter 6. Global Cardiac Monitoring & Cardiac Rhythm Management Device Market, By Cardiac Device Type

6.1 Introduction

6.2 Pacemaker