Market Research Future Release on December 9, 2021

Market Research Future (MRFR) claims that from 2020 to 2027 (review period), the market for arrhythmia monitoring equipment will grow at a rate of 6.44%. By 2027, the global market may also reach US$8.0874 billion.

The COVID-19 outbreak has caused the arrhythmia monitoring equipment market to face a series of challenges, including travel bans and fragile supply chains. The blockade has caused a huge gap between supply and demand. The new crown pneumonia epidemic has led to a sharp drop in the manufacturing rate of various countries, causing heavy losses for major players. As economic conditions continue to deteriorate, the continuous surge in the number of SARS-CoV-2 cases is not good for the business environment. In addition, the healthcare industry is mainly focused on reducing these cases, which to a certain extent is also detrimental to the arrhythmia monitoring equipment industry.

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Having said that, as telecardiology continues to receive attention, the arrhythmia monitoring equipment industry is likely to maintain steady growth throughout the review period. People are increasingly aware of the many benefits that these devices provide, such as convenient monitoring, ease of use, and portability, which have also promoted their adoption. The latest research confirms that nearly 20% of adults worldwide are most likely to have multiple types of ventricular premature beats. Another report showed that more than 850,000 Americans are hospitalized due to arrhythmia each year. These statistics have been soaring rapidly, so advanced equipment and tools that can ensure effective and continuous monitoring are required. Expanding the elderly population, while introducing new and more innovative cardiac management monitoring equipment, should promote the growth trajectory of the global market.

The emergence of smart heart monitors, the heavy burden of heart disease, and the increase in FDA approvals can also translate into considerable revenue in the next few years. In addition, the high preference for cost-effective ECG equipment and the company's generous investment in research and development activities to launch systems with better functions should also benefit the global market in the next few years. Players frequently use strategic measures such as expansion, technological innovation, and acquisition to improve their market rankings. The company is also committed to leveraging the potential of artificial intelligence, the Internet of Things, and big data by integrating these technologies into their devices to increase their attractiveness.

The top market segments considered in arrhythmia monitoring equipment market research include equipment types, applications, and end users.

The types of devices analyzed in the report include mobile cardiac telemetry (MCT) devices, resting electrocardiograms, implantable heart monitors (ICM), dynamic electrocardiogram monitors, event monitors, etc.

Conduction disorders, premature ventricular beats (PVC), tachycardia, ventricular fibrillation (V-fib), bradycardia and atrial fibrillation (A-fib) are some of the main applications covered in the report.

Home care institutions, diagnostic centers, outpatient surgery centers (ASC), and hospitals and clinics are some of the top end users on the market. The leading position is procured by hospitals and clinics, which reached US$1.740 billion in 2018.

The arrhythmia monitoring equipment industry can be divided into Europe, Asia Pacific (APAC), MEA or the Middle East and Africa and the Americas by region.

The United States has become the most profitable market because highly innovative and effective arrhythmia options are readily available, such as artificial pacemakers, antiarrhythmic drugs, and implantable defibrillators. Favorable reimbursement policies in the region and a large number of well-known companies that have invested heavily in rigorous R&D activities have also increased their market share.

Europe is currently the second most lucrative market because the adoption rate of arrhythmia monitors in the region is significantly higher than the increasing number of heart disease cases. In 2018, due to the surge in the use of smartphone applications, which bridged the doctor-patient communication gap, Spain took the lead in the region with a 5.5% share. In addition, as clinics and hospitals strive to incorporate arrhythmia care into routine treatment procedures, the European market will certainly perform well in the next few years.

Due to the explosive population growth and the continuous surge in the use of the latest technologies (wearable devices such as fitness monitors, mobile monitoring systems, and fabric monitoring systems), the Asia-Pacific region will develop at the fastest pace in the next few years. The soaring preference for compact, home and portable surveillance equipment and improvements in reimbursement schemes will also benefit the Asia-Pacific market in the following years.

Some of the wealthy companies analyzed in the MRFR market research include Spacelabs Healthcare (US), Biotronik (Germany), Abbott Laboratories (US), Medtronic plc (Ireland), Alive Cor, Inc. (US), BioTelemetry, Inc. (US)) , Fukuda Denshi Co. Ltd (Japan), Applied Cardiac Systems Inc. (USA), Nihon Kohden Corporation (Japan), GE Healthcare (USA), etc.

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