Cardiac Arrhythmia Monitoring Devices Market Size By Devices (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, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Aug 2020  |  Report ID: GMI2732  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 200   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Cardiac Arrhythmia Monitoring Devices Market size valued at USD 5.5 billion in 2019 and is expected to witness CAGR of more than 6.8% from 2020 to 2026.

High demand for cardiac arrhythmia monitoring devices among patients and healthcare facilities is mainly attributed to significant increase in number of cardiovascular diseases along with changing lifestyle. Adoption of cardiac arrhythmia monitoring devices is expected to be high, specifically in hospitals, in order to manage high number of patients with critical cardiac conditions.

Cardiac Arrhythmia Monitoring Devices Market

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According to the World Health Organization (WHO), cardiovascular conditions are responsible for about 17.9 million death each year across the globe. People with severe CVD have increased risk of cardiac arrhythmia conditions such as tachycardia and bradycardia and need continuous monitoring to prevent sudden heart failure.  Thus, with rising prevalence of cardiac disorders, cardiac arrhythmia monitoring devices market will witness lucrative demand over the coming years. However, side effects of several cardiac monitors including implantable cardiac devices on patients may impede product adoption.

Cardiac Arrhythmia Monitoring Devices Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 5.7 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 6.8% 2026 Value Projection: USD 9.0 Billion
Pages: 200 Tables, Charts & Figures: 371
Geographies covered (33): U.S., Canada, UK, France, Germany, Spain, Italy, Poland, The Netherlands, Austria, Finland, Ireland, Lithuania, Luxembourg, Sweden, Denmark, China, India, Japan, Australia, Thailand, Singapore, South Korea, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, South Africa, Saudi Arabia, Kuwait, UAE
Segments covered: Device, Application, End-use
Companies covered (13): Applied Cardiac Systems, AliveCor, Biotronik, Biotricity, BioTelemetry, GE Healthcare, iRhythm Technologies, Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, St. Jude Medical (Abbott Laboratories), Spacelabs Healthcare (OSI Systems, Inc.), Welch Allyn (Hillrom Services, Inc.)
Growth Drivers:
  • Growing prevalence of cardiovascular diseases and expenditure on cardiac health globally
  • Technological advancements and introduction of innovative devices for cardiac rhythm monitoring
  • Increasing adoption of mobile and telemetry cardiac monitors
  • Expanding geriatric population base coupled with growing prevalence of obesity
Pitfalls & Challenges:
  • Lack of skilled professionals
  • Negative effects of some cardiac monitoring devices on patients

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Product innovations offering remote monitoring of cardiac data will stimulate its adoption among professionals

Technological advancements allowing remote monitoring of cardiac rhythm in patients will be the major cardiac arrhythmia monitoring devices market growth driving factor. Recent development in HIPPA-compliant technology has offered secured data transmission throughout monitoring period without delays. New emerging technologies provided effective alternatives for traditional Holter monitors that create alerts for patients with high risk of cardiac arrhythmia. Hence, remote continuous monitoring capabilities of these devices catering to the need for long-term uninterrupted cardiac rhythm management will positively influence the market growth. Strong focus on technological innovation in this field will benefit the firms in business expansion.

Integration of Holter monitoring capabilities in wearable technology will broaden its customer base

Global Cardiac Arrhythmia Monitoring Devices Market By Device

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Holter monitor held over 40% cardiac arrhythmia monitoring devices market share in 2019. Introduction of wireless wearable technology in cardiac Holter monitoring enhances its growth potential with greater accessibility to patient data.

Technological advancements resulting into high accuracy and efficiency in arrythmia detection will propel demand for these devices and thus influence the product supply in the market. Furthermore, advantages of Holter monitors in heart rhythm management without interrupting patient’s daily activities and detection of abnormalities will create demand for these devices in the forthcoming years.

With growing number of hospital visits with supraventricular tachycardia, the cardiac arrhythmia monitoring devices market will foresee tremendous demand

Tachycardia monitoring devices segment is predicted to register around 6.9% growth rate during the forecast period. As ECG is one of the most common method used in tachycardia diagnosis, increasing disease prevalence will boost its demand.

Atrial tachycardia constituted significant market share in 2019. It is form of supraventricular tachycardia (SVT) and is among the major conditions reported in intensive care unit operations. Therefore, increasing incidence of SVT will offer immense growth opportunities to cardiac arrhythmia monitoring devices in emergency situations.

Need for continuous cardiac rhythm monitoring in emergency department will foster the market revenue

Hospitals and clinics segment size in the cardiac arrhythmia monitoring devices market was over USD 2.5 billion in 2019. Rising prevalence of cardiac rhythm disorders has led to an increase in number of emergencies requiring continuous cardiac rhythm monitoring.

Healthcare professionals require cardiac rhythm monitors to analyse percent of cardiac arrhythmia risk in critical situations. Moreover, arrhythmia is among the severe conditions in critically ill patients with COVID-19 infection. Therefore, prevalence of COVID-19 will also propel cardiac monitoring devices supply in hospitals. Thus, rising adoption of monitoring devices in hospitals pertaining to escalating hospital admissions will positively impact the market growth.

Rising healthcare spending and incidence of cardiovascular diseases in the Europe

Europe Cardiac Arrhythmia Monitoring Devices Market By Country

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Europe cardiac arrhythmia monitoring devices market revenue exceeded USD 1.7 billion in 2019. Growing healthcare spending leading to adoption of recent technologies and demand for telehealth products are growth driving factors in countries such as Germany, UK, France and Italy. Rising government funding in science and technology will further increase the purchasing power of healthcare facilities.

According to the European Society of Cardiology, CVDs are responsible for about 3.9 million deaths in the European region. People with CVDs experience sudden heart stroke and some patient witness reoccurrence of heart stroke. Need for frequent cardiac rhythm monitoring in such patients will augment the demand for mobile cardiac monitors in the region.

Eminent market players are focusing on innovative product introductions that will enhance their business growth potential

Some of the leading players operating in the cardiac arrhythmia monitoring devices market include Koninklijke Phillips N.V., Medtronic PLC, Biotelemetry Inc., GE Healthcare, iRhythm Technologies and Biotronik among other players. These market players are adopting various inorganic growth strategies to obtain competitive advantage and strengthen their market position.

Some of the recent industry developments:

  • In January 2020, Biotronik announced the launch of new injectable cardiac monitor, BIOMONITOR III, allowing detection of irregular heart rhythm. Such new product launches with technological development will increase growth potential of the company.
  • In May 2019, Abbott announced the launch of next-generation heart monitor for cardiac arrhythmia detection in U.S. and Europe. This launch has offered business expansion opportunities to the firm in emerging economies.   

The cardiac arrhythmia monitoring devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:

Market, By Devices

  • Holter Monitor
  • Event Recorder
  • Mobile Cardiac Telemetry
  • Implantable Cardiac Monitor
  • Electrocardiogram (ECG) Monitor
  • Others

Market, By Application

  • Tachycardia
  • Atrial Tachycardia
  • Ventricular Tachycardia
  • Bradycardia
  • Premature Contractions
  • Others

Market, By End-use

  • Hospitals and Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Homecare Settings
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
    • Poland
    • The Netherlands
    • Austria
    • Finland
    • Ireland
    • Lithuania
    • Luxembourg
    • Sweden
    • Denmark
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Thailand
    • Singapore
    • South Korea
  • Latin America
    • Brazil
    • Chile
    • Colombia
    • Ecuador
    • Mexico
    • Peru
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Kuwait
    • UAE

Frequently Asked Questions (FAQ) :

The market size of cardiac arrhythmia monitoring devices valued at USD 5.5 billion in 2019.
The industry share of cardiac arrhythmia monitoring devices is expected to witness CAGR of more than 6.8% from 2020 to 2026.
Holter monitor accounted for 40% of market share in 2019 and will depict appreciable demand owing to the launch of wearable technology in these products that enhances their potential.
Tachycardia monitoring devices segment may drive the market trends with an anticipated 6.9% CAGR through 2026, driven by rising prevalence of tachycardia and developments in ECG technology.
Hospitals and clinics segment may depict extensive demand for these devices, owing to increasing prevalence of cardiac rhythm disorders and rise in cardiac emergencies. Hospitals & clinics segment was worth USD 2.5 billion in 2019.
These devices will gain massive popularity in Europe driven by rising healthcare spending and adoption of technologically advanced products. Europe market revenue crossed USD 1.7 billion in 2019.?

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 200
  • Tables: 360
  • Charts / Figures: 11
  • Companies covered: 13
  • Countries covered: 33

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