Cardiac Monitoring Devices Market Size, Share Trends, and Global Forecast
According to research report the cardiac monitoring devices market is
expected to reach $30.56 billion by 2027 from $22.12 billion in 2019, at a CAGR
of 4.0%. The scope of the report includes cardiac monitoring and cardiac rhythm
management devices used for continuous monitoring, detection, and treatment of
heart activities and abnormal heart rhythm (electric heart patterns). Factors driving the growth of this market include increasing
incidence of cardiovascular diseases and technological advancements in devices.
However, price sensitivity and limited reimbursements for remote cardiac
monitoring devices are expected to restrain the growth of the CM & CRM devices
market.
Based on end user, the cardiac monitoring and cardiac rhythm
management devices market is segmented into hospitals, home and ambulatory care settings, and other end
users. In 2017, the hospitals segment accounted for the largest share of the
market. The large share of this segment can primarily be attributed to the
increasing use of these devices in hospitals, increasing burden of
cardiovascular & coronary heart diseases, increasing number of patient
visits to physician offices for the principal diagnosis of CVD & CHD, and
growing number of cardiac implant procedures.
Based on product, the cardiac rhythm management devices market
is segmented into defibrillators and pacemakers. The pacemakers segment is projected
to grow at the highest CAGR during the forecast period.
The
rising geriatric population (heart tissue degeneration is a major cause of high
blood pressure) and increasing incidence of hypertension are the major factors
driving the demand for pacemakers.
Based on product, the cardiac monitoring devices is segmented
into ECG devices, ILR, event monitors, COM monitors, mobile cardiac telemetry,
and smart wearable ECG monitors. The mobile cardiac telemetry segment is projected
to grow at the highest CAGR during the forecast period. Factors such as quick
and enhanced diagnosis compared to other short & longer-term monitoring
modalities and huge potential for reducing healthcare costs are driving the
growth of the market.
Download Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=55
Asia is expected to grow at the highest CAGR
during the forecast period
On the basis of
region, the CM & CRM devices market is segmented into North America,
Europe, Asia, and RoW. Asia is expected to grow at the highest CAGR during the
forecast period. Factors such as growth in the geriatric population, growing
incidence of chronic diseases, rising healthcare spending, healthcare reforms
for infrastructural development, growing demand for advanced technologies, and
less stringent regulations are fuelling the demand for CM & CRM devices in
this region.
CM & CRM Devices Market Players
The cardiac
monitoring and cardiac rhythm management devices market is dominated by players
such as Medtronic (Ireland), Abbott (US), Boston Scientific (US), BIOTRONIK
(Germany), GE Healthcare (US), and Philips Healthcare (Netherlands)
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
newsletter@marketsandmarkets.com
Comments
Post a Comment