Cardiac monitoring refers to continuous examination of cardiac activity with the help of some devices, generally an electrocardiogram (ECG). Cardiac monitoring assists a physician to assess a patient’s health with respect to his cardiac rhythm. Cardiac rhythm management devices maintain cardiac rhythm in patients suffering from rate and rhythm disorders of the heart. Both, cardiac monitoring as well as cardiac rhythm management devices help in treatment of cardiac patients ensuring that the patient has a well-functioning heart. These devices play a crucial role to cure and monitor several serious cardiac disorders, including heart failure, atrial fibrillation, atrial flutter, indications of recent heart attack, coronary ischemia, lack of oxygen supply to cardiac muscles, effects of drugs, and certain genetic errors among others.
Global cardiac monitoring & cardiac rhythm management market was valued at $19,397 million in 2015 and is expected to reach $32,216 million by 2022, growing at a CAGR of 7.6%. The volume market is poised to grow at a CAGR of 13.6% from 2016 to 2022.
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The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2022 to 2030 are viewed as the forecast period.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
The market is driven by factors such as growing incidence of cardiac disorders, new technological advancements in cardiac monitoring & cardiac rhythm management devices, awareness among patients about monitoring of the heart and treatment options for management of cardiac disorders and increasing number of unmet medical needs in developing and underdeveloped countries. However, the market is hampered by limited insurance coverage and high cost of these devices (especially in developing nations) and preference for pharmaceutical interventions (drugs) and medications over treatment devices. Conversely, development of new MRI-labeled devices and growth opportunities in the emerging economies of the Asia-Pacific and LAMEA regions are expected to provide several opportunities for market growth during the forecast period.
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The report segments the market based on product, end user, and geography. Based on product, the market is divided into ECG devices, implantable loop recorders (ILR), cardiac output monitoring (COM) devices, event monitors, pacemakers, cardiac resynchronization therapy (CRT) devices, defibrillators, and ventricular assist devices (VADs). The end user segment is categorized into hospitals & clinics, home settings, and ambulatory surgical centers (ASCs). Based on geography, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, Malaysia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Egypt, and rest of LAMEA).
CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT MARKET KEY BENEFITS:
The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets. The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities. Extensive analysis by product helps in understanding the various types of devices used for treatment and monitoring of cardiac patients. Competitive intelligence highlights the business practices followed by leading players across various regions. Comprehensive analysis of all geographical regions is provided, which helps in determining the prevailing opportunities in these geographies. Key players within the market are profiled in the report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the global market.
CARDIAC MONITORING & CARDIAC RHYTHM MANAGEMENT MARKET KEY SEGMENTS:
Electrocardiogram (ECG) Devices ECG by Type Resting ECG Stress ECG Holter Monitors Wired Wireless ECG by Lead Single Lead 3-6 Lead 12 Lead Implantable Loop Recorders (ILR) Cardiac Output Monitoring (COM) Devices Minimally Invasive COM Devices Noninvasive COM Devices Event Monitors
By Technology Manual Event Monitors Autodetect Monitors Pacemakers Implantable Pacemakers External Pacemakers Cardiac Resynchronization Therapy (CRT) Devices CRT-P (CRT with Pacemaker Function) CRT-D (CRT with Pacemaker and ICD Function) Defibrillator Implantable Cardioverter Defibrillators (ICDs) Transvenous Implantable Cardioverter Defibrillator (T-ICDs) Dual-chamber ICDs Single-chamber ICDs Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs) External Defibrillator Manual External Defibrillator Automated External Defibrillator (AEDs) Semiautomated External Defibrillator Fully Automated External Defibrillator Wearable Cardioverter Defibrillator (WCDs) Ventricular Assist Devices (VADs) Left Ventricular Assist Device (LVAD) Right Ventricular Assist Device (RVAD) Biventricular Assist Device (BIVAD)
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Hospitals & Clinics Home Settings Ambulatory Surgical Centers (ASCs)
North America U.S. Canada Mexico Europe Germany UK France Italy Spain Switzerland Rest of Europe Asia-Pacific Japan China India Australia Malaysia New Zealand Rest of Asia-Pacific LAMEA Brazil South Africa Egypt Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
Abiomed, Inc. Berlin Heart GmbH Biotronik SE & Co. KG Boston Scientific Corporation Cardiac Science Corporation General Electric Company (GE) Hill-Rom Holdings, Inc. Jarvik Heart, Inc. Koninklijke Philips N.V. LivaNova PLC Medtronic plc Nihon Kohden Corporation ReliantHeart Inc. SCHILLER AG St. Jude Medical, Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Siemens AG 3M Company Asahi Kasei Corporation Stryker Corporation Mortara Instrument, Inc. OSI Systems, Inc. Cardionet Inc.
Key Questions Answered in the Market Report
• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies? • What is the outlook for the impact market during the forecast period 2021-2030? • What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration? • What is the end user perception toward? • How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021? • What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration? • What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration? • What are the key strategies adopted by companies in the impact market? • What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030? • What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market? • Who are the key end users of pharmaceutical quality? What is their respective share in the impact market? • Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030? • Which are the key players in the impact market?
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