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Global Cardiac Arrhythmia Monitoring Devices Market Size: By Type: ECG Monitors, Holter Monitors, Implantable Monitors, Mobile Cardiac Telemetry, Others; By Application: Atrial Fibrillation, Bradycardia, Premature Contraction, Tachycardia, Ventricular Fibrillation, Others; By Distribution Channels; Regional Analysis; Supplier Landscape; 2024-2032
Global Cardiac Arrhythmia Monitoring Devices Market Outlook
The cardiac arrhythmia monitoring devices market size was valued at USD 7.70 billion in 2023, driven by the rising prevalence of cardiovascular diseases. It is likely to grow at a CAGR of 7.46% during the forecast period of 2024-2032, expected to attain a value of USD 14.70 billion by 2032.
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Cardiac Arrhythmia: Insights, Types, and Management Strategies
Arrhythmia is a cardiac disease associated with an abnormal heartbeat. The heart beats either too fast or too slow, leading to irregular processing of the heart. This alteration in a heartbeat is caused due to the interruption in electrical impulses responsible for the heart's contraction and relaxation.
There are several types of arrhythmias depending on the speed of the heartbeat. If the heart beats too fast, it is called atrial fibrillation (AF). Bradycardia is another common arrhythmia in which the heart beats more slowly than usual. If the heart beats faster at rest, this type of atrial fibrillation is called supraventricular tachycardia.
There are various treatment options available for treating cardiac arrhythmia. The treatment options include antiarrhythmics, drugs and medications, and arrhythmia monitoring devices. It is essential to choose the best suitable treatment option according to the condition and severity of the cardiac arrhythmia.
Cardiac arrhythmia monitoring devices provide the best treatment opportunities for managing arrhythmia. These devices can be worn externally or implanted inside the body. The primary function of the monitoring devices is to monitor and regulate the heartbeat.
According to this cardiac arrhythmia monitoring devices market research report, the market can be categorised into the following segments:
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Market Breakup by Type
- ECG Monitors
- Holter Monitors
- Implantable Monitors
- Mobile Cardiac Telemetry
- Others
Market Breakup by Application
- Atrial Fibrillation
- Bradycardia
- Premature Contraction
- Tachycardia
- Ventricular Fibrillation
- Others
Market Breakup by Distribution Channels
- Hospitals and Clinics
- Ambulatory Surgery Centres
- Diagnostic Centres
- Homecare Settings
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Increasing Prevalence of Cardiovascular Disorders, Technological Advancements, and Increased Adoption of Telecardiology to be the Key Market Trends
Cardiac arrhythmia monitoring devices help in the diagnosis and treatment of cardiovascular disorders. The increasing prevalence of cardiovascular diseases is thus driving the cardiac arrhythmia monitoring devices market growth.
The advancements in technology and the shift of patients toward telecardiology are also responsible for propelling the cardiac arrhythmia monitoring devices market size. Telecardiology is more efficient and convenient to use. In 2020, a company, Coala Life, introduced a new telecardiology-based product that provides the real-life monitoring of heartbeat.
Furthermore, these devices are easy to use and portable, which is also increasing the adoption of these devices. For example, in 2021, a new portable and easy-to-wear cardiac monitor was discovered by RhythMedix for arrhythmia diagnosis. These kinds of developments are anticipated to boost the cardiac arrhythmia monitoring devices market growth.
The high costs of cardiac arrhythmia monitoring devices and less awareness among the general population are the limiting factors affecting the growth of the cardiac arrhythmia monitoring devices market.
Therapeutic Landscape
Cardiac arrhythmic monitoring devices assist in monitoring the rhythm throughout the day. These devices comprise intermittent and continuous tracking systems that monitor heart impulses over long periods and provide real-time data on the monitor.
With technological advancements, novel devices are being incorporated with sensors that provide live diagnosis and personalised patient care.
These devices also monitor blood pressure, heart rhythm, cardiac output, and other numerous parameters. This acts as a potential daily health check-up for the patient.
Incorporation of Artificial Intelligence and Machine Learning
The incorporation of artificial intelligence and machine learning in cardiac arrhythmia monitoring devices has facilitated market growth at a tremendous rate. This helps in the rapid evaluation of the monitor data and hence, helps in the early diagnosis of arrhythmias.
The prime application of wearable monitoring devices is to monitor irregular cardiac rhythms. Some arrhythmia monitoring devices are implanted inside the body and possess comprehensive therapeutic options. Implantable devices like defibrillators and pacemakers help automatically diagnose, detect, and treat bradycardia or tachycardia.
With the high treatment potential, the cardiac arrhythmia monitoring devices market possesses an excellent opportunity for healthcare industries and pharmaceutical companies in extensive therapeutic and diagnostic methods.
Clinical Trial Landscape
Increasing technological advancements have paved the way for multiple approaches to arrhythmia monitoring devices. These novel technologies provide more specific and sensitive data.
In earlier times, arrhythmia monitoring devices were required to be connected to the chest and were challenging to handle. The extensive research and development have helped in the innovation of these devices. The introduction of wearable devices has driven cardiac arrhythmia monitoring devices expansion. The clinical trials for these devices are still under process and, once passed, can provide lucrative opportunities in the healthcare sector.
Another set of clinical trials for the devices utilising artificial intelligence and machine learning are under run; this incorporation will provide more specific data and, thus, early evaluation of arrhythmia diagnosis.
Emerging Technologies: More Advanced and Highly Effective
Fitbit Heart Study is performing clinical trials to test the efficacy and accuracy of its cardiac monitoring devices. These devices are incorporated in wrist watches and monitor irregular heartbeat and blood pressure.
Cardiac arrhythmia devices in the form of patches are also being tested in the United States. Guard-AF is the study performing the clinical trials for Zio patch monitors. Once approved, these patches are used to diagnose stroke.
These novel targeted devices and technologies seem to grab the attention of key companies and investors, which will directly influence the development in this sector. This will help enable patient access and growth of the cardiac arrhythmia monitoring devices market.
Competitive Landscape
The report gives an in-depth analysis of the key players involved in the cardiac arrhythmia monitoring devices market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
- AliveCor, Inc.
- BioTelemetry, Inc.
- Fukuda Denshi Co., Ltd.
- GE Healthcare
- BIOTRONIK SE & Co. KG
- Biotricity
- iRhythm Technologies, Inc.
- Medtronic plc
- Spacelabs Healthcare
- Welch Allyn, Inc. (Hillrom Services, Inc.)
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Distribution Channels |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Supplier Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.1.1 Research Objectives
1.1.2 Key Findings of the Report
1.2 Limitations of the Study and Scope for Future Research
2 Research Methodology
3 Executive Summary
4 Global Cardiac Arrhythmia Monitoring Devices Market
4.1 Global Cardiac Arrhythmia Monitoring Devices Market Overview
4.2 Global Cardiac Arrhythmia Monitoring Devices Market Analysis
4.2.1 Market Overview
4.2.1.1 Global Cardiac Arrhythmia Monitoring Devices Market Historical Value (2017-2023)
4.2.1.2 Global Cardiac Arrhythmia Monitoring Devices Market Forecast Value (2024-2032)
4.3 Global Cardiac Arrhythmia Monitoring Devices Market by Type
4.3.1 Market Overview
4.3.1.1 ECG Monitors
4.3.1.2 Holter Monitors
4.3.1.3 Implantable Monitors
4.3.1.4 Mobile Cardiac Telemetry
4.3.1.5 Others
4.4 Global Cardiac Arrhythmia Monitoring Devices Market by Application
4.4.1 Market Overview
4.4.1.1 Atrial Fibrillation
4.4.1.2 Bradycardia
4.4.1.3 Premature Contraction
4.4.1.4 Tachycardia
4.4.1.5 Ventricular Fibrillation
4.4.1.6 Others
4.5 Global Cardiac Arrhythmia Monitoring Devices Market by Distribution Channels
4.5.1 Market Overview
4.5.1.1 Hospitals and Clinics
4.5.1.2 Ambulatory Surgery Centres
4.5.1.3 Diagnostic Centres
4.5.1.4 Homecare Settings
4.6 Global Cardiac Arrhythmia Monitoring Devices Market by Region
4.6.1 Market Overview
4.6.1.1 North America
4.6.1.2 Europe
4.6.1.3 Asia Pacific
4.6.1.4 Latin America
4.6.1.5 Middle East and Africa
4.6.2 North America
4.6.2.1 Historical Trend (2017-2023)
4.6.2.2 Forecast Trend (2024-2032)
4.6.2.3 Break Up by Country
4.6.2.3.1 United States of America
4.6.2.3.2 Canada
4.6.3 Europe
4.6.3.1 Historical Trend (2017-2023)
4.6.3.2 Forecast Trend (2024-2032)
4.6.3.3 Break Up by Country
4.6.3.3.1 United Kingdom
4.6.3.3.2 Germany
4.6.3.3.3 France
4.6.3.3.4 Italy
4.6.3.3.5 Others
4.6.4 Asia Pacific
4.6.4.1 Historical Trend (2017-2023)
4.6.4.2 Forecast Trend (2024-2032)
4.6.4.3 Break Up by Country
4.6.4.3.1 China
4.6.4.3.2 Japan
4.6.4.3.3 India
4.6.4.3.4 ASEAN
4.6.4.3.5 Australia
4.6.4.3.6 Others
4.6.5 Latin America
4.6.5.1 Historical Trend (2017-2023)
4.6.5.2 Forecast Trend (2024-2032)
4.6.5.3 Break Up by Country
4.6.5.3.1 Brazil
4.6.5.3.2 Argentina
4.6.5.3.3 Mexico
4.6.5.3.4 Others
4.6.6 Middle East and Africa
4.6.6.1 Historical Trend (2017-2023)
4.6.6.2 Forecast Trend (2024-2032)
4.6.6.3 Break Up by Country
4.6.6.3.1 Saudi Arabia
4.6.6.3.2 United Arab Emirates
4.6.6.3.3 Nigeria
4.6.6.3.4 South Africa
4.6.6.3.5 Others
5 Trade Data Analysis by HS Code
5.1 Cardiac Monitoring Devices- 90189099
5.2 ECG Machines- 90181100
5.3 Heart Rate Monitors- 90318000
6 Current Scenario Evaluation and Regulatory Framework
6.1 Emerging Therapies and Clinical Trials Synopsis
6.2 Patent Landscape
6.2.1 Patent Overview
6.2.1.1 Patent Status and Expiry
6.2.1.2 Timelines from Device Development to Commercial Launch
6.2.1.3 New Device Application
6.2.1.3.1 Documentation and Approval Process
6.3 Cost of Treatment
6.4 Regulatory Framework
6.4.1 Regulatory Overview
6.4.1.1 US FDA
6.4.1.2 EU EMA
6.4.1.3 INDIA CDSCO
6.4.1.4 JAPAN PMDA
6.4.1.5 Others
7 Global Cardiac Arrhythmia Monitoring Devices Market Dynamics
7.1 Market Drivers and Constraints
7.2 SWOT Analysis
7.3 Porter’s Five Forces Model
7.4 Key Demand Indicators
7.5 Key Price Indicators
7.6 Industry Events, Initiatives, and Trends
7.7 Value Chain Analysis
8 Supplier Landscape
8.1 AliveCor, Inc.
8.1.1 Company Overview
8.1.2 Product Portfolio
8.1.3 Demographic Reach and Achievements
8.1.4 Mergers and Acquisitions
8.1.5 Certifications
8.2 BioTelemetry, Inc.
8.2.1 Company Overview
8.2.2 Product Portfolio
8.2.3 Demographic Reach and Achievements
8.2.4 Mergers and Acquisitions
8.2.5 Certifications
8.3 Fukuda Denshi Co., Ltd.
8.3.1 Company Overview
8.3.2 Product Portfolio
8.3.3 Demographic Reach and Achievements
8.3.4 Mergers and Acquisitions
8.3.5 Certifications
8.4 GE Healthcare
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Demographic Reach and Achievements
8.4.4 Mergers and Acquisitions
8.4.5 Certifications
8.5 BIOTRONIK SE & Co. KG
8.5.1 Company Overview
8.5.2 Product Portfolio
8.5.3 Demographic Reach and Achievements
8.5.4 Mergers and Acquisitions
8.5.5 Certifications
8.6 Biotricity
8.6.1 Company Overview
8.6.2 Product Portfolio
8.6.3 Demographic Reach and Achievements
8.6.4 Mergers and Acquisitions
8.6.5 Certifications
8.7 iRhythm Technologies, Inc.
8.7.1 Company Overview
8.7.2 Product Portfolio
8.7.3 Demographic Reach and Achievements
8.7.4 Mergers and Acquisitions
8.7.5 Certifications
8.8 Medtronic plc
8.8.1 Company Overview
8.8.2 Product Portfolio
8.8.3 Demographic Reach and Achievements
8.8.4 Mergers and Acquisitions
8.8.5 Certifications
8.9 Spacelabs Healthcare
8.9.1 Company Overview
8.9.2 Product Portfolio
8.9.3 Demographic Reach and Achievements
8.9.4 Mergers and Acquisitions
8.9.5 Certifications
8.10 Welch Allyn, Inc. (Hillrom Services, Inc.)
8.10.1 Company Overview
8.10.2 Product Portfolio
8.10.3 Demographic Reach and Achievements
8.10.4 Mergers and Acquisitions
8.10.5 Certifications
9 Recommendations and Discussion
10 Pricing Models and Strategies (Additional Insight)
10.1 Overview
10.2 Cost Model
10.2.1 Manufacturing Cost Analysis
10.2.2 Procurement Cost Analysis
10.2.3 Clinical Trial Cost Factors
10.3 Pricing Strategies
10.3.1 Competitor Pricing Analysis
10.3.2 Key Assessment of Product Attributes
10.3.3 Pricing Benchmark
11 Global Cardiac Arrhythmia Monitoring Devices Distribution Model (Additional Insight)
11.1 Overview
11.2 Potential Distributors
11.3 Key Parameters for Distribution Partner Assessment
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The market size was valued at USD 7.70 billion in 2023, driven by the rising prevalence of cardiovascular diseases.
The market is anticipated to grow at a CAGR of 7.46% during the forecast period of 2024-2032 to attain a value of USD 14.70 billion by 2032.
The key market drivers are the rising technological advancements, increasing prevalence of cardiovascular disorders, and rising awareness of telecardiology.
Based on the type, the market is categorised into ECG Monitors, holter monitors, implantable monitors, and mobile cardiac telemetry, among others.
Based on the type, the market is segmented into atrial fibrillation, bradycardia, premature contraction, tachycardia, and ventricular fibrillation, among others.
The distribution channels in this market are hospitals and clinics, ambulatory surgery centres, diagnostic centres, and home care settings.
The different regions in this market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Antiarrhythmic devices are devices used for diagnosing and treating cardiac arrhythmias.
Yes, artificial intelligence is incorporated into cardiac arrhythmia monitoring devices to provide more precise data in lesser time.
The key players in this market are AliveCor, Inc., BioTelemetry, Inc., Fukuda Denshi Co., Ltd., GE Healthcare, BIOTRONIK SE & Co. KG, Biotricity, iRhythm Technologies, Inc., Medtronic plc, Spacelabs Healthcare, and Welch Allyn, Inc. (Hillrom Services, Inc.), among others.
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