Cardiac Arrhythmia Monitoring Devices Market size worth over $9bn by 2026

Cardiac Arrhythmia Monitoring Devices Market size is set to surpass USD 9 billion by 2026, according to a new research report by Global Market Insights, Inc.

According to the Centers for Disease Control and Prevention (CDC), cardiac disorders are one of the leading causes of death among women and men in the U.S. Every year, nearly six million people die from cardiac diseases. High mortality rate requires for better and effective devices for earl diagnosis of cardiac disorders. Adoption of unhealthy lifestyle such as smoking, excessive drinking and lack of physical activity is further influencing the prevalence of heart disorders.


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Rising and research and development expenditure will boost the market growth

The American Heart Association (AHA) has collaborated with different government organizations for various funding programs. For instance, in 2016, the American Heart Association advocated CDC Heart Disease and Stroke Prevention for USD 130 million. Such funding helps the organization to operate efficiently for better outcomes for the patients. Furthermore, various initiatives by the government helps the companies in expanding their product portfolio, thereby strengthening its market position in the industry. Moreover, increasing healthcare expenditure and various initiatives and campaigns undertaken by the government will propel the market expansion.

Growing awareness about remote monitoring and advanced medical devices will drive the adoption of MCT

Mobile cardiac telemetry segment accounted for 16.6% market share in 2019 owing to benefits such as reduced hospital visits, time, and cost effectivity. According to the research studies, patients undergoing remote monitoring have more probability of survival than those that are not routinely monitored.

Browse key industry insights spread across 200 pages with 360 market data tables & 11 figures & charts from the report, Cardiac Arrhythmia Monitoring Devices Market Size, By Device (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, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026 in detail along with the table of contents:

Increasing incidence of bradycardia globally will foster the market demand

Bradycardia application segment valuation was more than USD 215 million in 2019due to significant rise in patients suffering from bradycardia and adoption of advanced cardiac monitoring equipment. Rising preference for remote patient monitoring, less hospital visits and increasing demand for cost effective treatment for bradycardia patients will further augment the market size.

Skilled workforce and advanced infrastructure will fuel the ambulatory surgical centres segment growth

Ambulatory surgical centres held over 24% market revenue share in 2019 led by growing geriatric population with cardiac disorders, rising demand for skilled healthcare professionals and increasing awareness about advanced treatment options to reduce hospital visits.

Increasing penetration of market players in the U.S. will influence the market revenue

U.S cardiac arrhythmia monitoring devices market size exceeded USD 2.1 billion in 2019. There are several established companies in the U.S., whereas newer firms are also setting up their business in wearable cardiac device space in the country. Also, as per the CDC, the U.S. government spends around USD 219 billion on cardiovascular disorders. With growing mortality, the need for better treatment methods will grow, thereby escalating the demand of cardiac arrhythmia monitoring devices in the country.

New product development will support the market growth

Some of the notable players operating in the market include Koninklijke Philips N.V., GE Healthcare, Medtronic and Abbott among other players. Launch of new products and strategic alliances are the key strategies adopted by these firms to enhance their market footprint and achieve significant market share. For instance, in July 2020, Abbott received FDA clearance for its implantable heart rhythm devices. The new device can link to MyMerlinPusle app and provide information about patient’s heart health. This strategy is aimed to expand its product portfolio in cardiac division.

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