Cardiac Monitoring Devices Market is Experiencing Rapid Growth, Propelled by Technological Advancements and Increasing Chronic Disorders.

AUSTIN, TEXAS, UNITED STATES, February 19, 2024 /EINPresswire.com/ -- The Cardiac Monitoring Devices Market, valued at USD 28.65 billion in 2022, is poised for remarkable growth, projected to reach USD 44.98 billion by 2030, with a robust CAGR of 5.8% over the forecast period from 2023 to 2030, as per the latest SNS Insider report.

The cardiac monitoring devices market is experiencing robust growth, driven by technological advancements, increasing prevalence of cardiovascular diseases, aging population, emphasis on preventive healthcare, remote patient monitoring, rising healthcare expenditure, and the shift towards patient-centric care models. As these growth factors continue to shape the healthcare landscape, the demand for innovative cardiac monitoring solutions is expected to escalate, creating significant opportunities for market players and driving further advancements in cardiac care and monitoring technologies.

Cardiac Monitoring Devices Market Report Scope

The global cardiac monitoring devices market encompasses a diverse range of segments, including cardiovascular devices, multi-parameter ECG monitors, patient monitoring devices, ambulatory cardiac monitoring, and cardiac monitors. Among these, the patient monitoring devices segment is anticipated to experience the highest CAGR due to an escalating number of chronic disorders such as stroke, coronary heart disease, sudden cardiac arrest, congenital heart diseases, and other cardiovascular conditions. Wearable patient monitoring devices and smart implants are gaining traction, especially for vital parameter monitoring, further boosting the segment's market.

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Major Key Players in the Cardiac Monitoring Devices Industry:

• Medtronic
• Nihon Kohden Corporation
• Philips Healthcare
• Boston Scientific
• Cardiac Science Corporation
• BioTelemetry (Formerly CardioNet)
• Midmark Corp.
• Sorin Group (now part of LivaNova)
• Biotronik
• Zoll Medical
• St. Jude Medical (now part of Abbott Laboratories)
• GE Healthcare
• Mortara Healthcare (now part of Hillrom)
• Spacelabs Healthcare (now part of OSI Systems)
• Schiller AG
• Lifewatch AG (now part of BioTelemetry)
• Edwards Lifesciences

Cardiac Monitoring Devices Market Analysis

The usage of Cardiac Implantable Electronic Devices (CIEDs) has significantly increased survival and quality of life in treating cardiac arrhythmias. However, CIED-associated infections pose a notable complication. Medtronic's absorbable antibacterial envelope offers a solution, stabilizing CIEDs and eluting antibiotics, minimizing infection risks. The incidence rates of CIED infections vary, with the European Heart Journal reporting percentages for pacemakers, implantable cardioverter-defibrillators, cardiac resynchronization therapy pacemakers, and CRT defibrillators. Such challenges create opportunities for innovations, driving growth in the cardiac monitoring devices market.

Cardiac Monitoring Devices Market Segmentation

By Type
• ECG Method
• Arterial Pressure Method
• Photoelectric Method
• Implantable Loop Recorders
• Mobile Cardiac Telemetry Devices
• Cardiac Output Monitoring Devices

By Product
• Hospitals
• Clinics
• Other

Segmentation Analysis

• In terms of type, the cardiovascular devices segment dominates the market, with patient monitoring devices projected to witness the highest CAGR. The demand for vital parameters monitors, wearable patient monitoring, biosensors, and smart implants intensifies, especially in applications like continuous glucose monitoring and pulsed oximetry blood pressure monitoring.
• By product type, the smart wearable monitor segment is expected to grow at the highest CAGR, driven by technological advancements and the demand for personalized patient care. The era of remote healthcare catalyzed by the COVID-19 pandemic emphasizes the need for wearable technologies in the cardiovascular community.
• Regarding applications, coronary heart diseases hold the largest market share and are anticipated to remain the leading segment by 2030. The prevalence of chronic diseases like diabetes, hypertension, and increased global mortality accelerates the number of coronary heart disease cases.

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Growth Factors

• The continuous evolution of technology is a primary driver of growth in the cardiac monitoring devices market. Innovations in wearable technologies, biosensors, and smart implants have revolutionized patient care and monitoring.
• The integration of computer vision, artificial intelligence, and data analytics into cardiac monitoring devices has enhanced diagnostic capabilities, enabling healthcare professionals to provide more accurate and timely interventions.
• The escalating prevalence of chronic disorders, including stroke, coronary heart disease, sudden cardiac arrest, and congenital heart diseases, is fueling the demand for cardiac monitoring devices. These conditions necessitate continuous monitoring to manage and mitigate risks effectively.
• Wearable patient monitoring devices, capable of monitoring vital parameters, have become essential tools in managing chronic diseases, driving the market's growth.

Key Regional Development

North America leads the cardiac monitoring devices market, holding the highest share in 2021. Factors contributing to this dominance include the rising incidence of cardiovascular diseases (CVD), increased healthcare expenditure, higher disposable income, enhanced healthcare awareness, and the availability of technologically advanced gadgets in the region.

Key Takeaways

• Technological advancements drive growth in the cardiac monitoring devices market.
• Patient monitoring devices segment leads the surge, fueled by the rising prevalence of chronic disorders.
• North America dominates the market, propelled by increased healthcare awareness and advanced technologies.

Recent Developments

• In August 2022: Merit Medical Systems, Inc. introduced the SafeGuard Focus Cool Compression Device, expanding its cardiac portfolio.
• In February 2022: Abbott achieved a significant milestone with the launch of Aveir dual-chamber leadless pacemaker system, marking a technological breakthrough in leadless pacing.

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Akash Anand
SNS Insider Pvt. Ltd
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