Cardiac Arrhythmia Monitoring Devices Market Analysis

Cardiac Arrhythmia Monitoring Devices Market Analysis

Based on device, the cardiac arrhythmia monitoring devices market is segmented into Holter monitor, event recorder, mobile cardiac telemetry, implantable cardiac monitor, electrocardiogram (ECG) monitor and others. The Holter monitor segment was valued at over USD 2.8 billion in 2021 and is expected to foresee significant growth during the forecast timeframe. The segment growth is attributable to the higher disease prevalence due to the increasing consumption of unhealthy food and hectic lifestyle affecting cardiac health and that leads to cardiac blockages and arrests.
 

Furthermore, the Holter monitor offers advantage of cardiac rhythm management without interfering with a patient's daily activities and assist in detection of abnormal heart rhythm at early stage. The revenue growth is further accompanied by cost-effectiveness of these devices contributing to the increasing adoption rate in procedures.
 

Based on application, the cardiac arrhythmia monitoring devices market is segmented into tachycardia, bradycardia, premature contraction, and others. The tachycardia monitoring devices segment is forecast to grow at 6.8% CAGR during the analysis timeframe. The segment is further subclassified into atrial tachycardia and ventricular tachycardia. Increasing adoption of technologically advanced products for the disease monitoring is expected to boost the demand for tachycardia monitoring devices in the forthcoming years.
 

Atrial tachycardia accounted for a majority share in 2021 and is expected to witness lucrative growth in near future. It is a form of supraventricular tachycardia, that requires intensive treatment for better outcomes. Cardiac arrhythmia monitoring devices play a significant role in better diagnosis and treatment of the disease. Thus, with increasing risk of tachycardia, the cardiac arrhythmia monitoring devices market is projected to witness considerable growth in near future.
 

Based on end-use, the cardiac arrhythmia monitoring devices market is segmented into hospitals and clinics, diagnostics centers, ambulatory surgical centers, homecare settings and others. The hospitals and clinics segment dominated the market with more than 45% revenue share in 2021 and is anticipated to witness substantial growth during the forecast period. Rising prevalence of cardiac arrhythmia across the globe coupled with increasing geriatric pool will drive the hospital admission rates for the treatment.
 

Additionally, in emergency hospitalizations, healthcare professionals require cardiac rhythm monitors to analyse the probable risk of cardiac arrhythmia. Furthermore, arrhythmia is one of the most severe conditions in critically ill COVID-19 patients. As a result, the prevalence of COVID-19 has also driven the supply of cardiac monitoring devices in hospitals. Thus, the rising adoption of monitoring devices in response to increasing hospitalizations will impel the market statistics.
 

North America region held over 35% revenue share in overall cardiac arrhythmia monitoring devices market in 2021. Increasing prevalence of cardiovascular diseases coupled with growing awareness regarding the advanced monitoring techniques will boost the regional market growth. According to the CDC, about 12.1 million people in the U.S. are expected to have atrial fibrillation (AFib) by 2030. This is anticipated to augment the demand for cardiac arrhythmia monitoring devices.
 

Additionally, presence of major market players involved in the commercialization of advanced devices will also boost regional market expansion. Moreover, developed healthcare infrastructure leading to the rising adoption of technologically advanced cardiac arrhythmia monitoring devices is forecast to propel the regional market demand.