Cardiac Monitoring Devices Market – Innovative products By Top Industry: Philips Healthcare, Medtronic, Boston Scientific, Cardiac Science, LifeWatch, CareTaker Medical, Spacelabs

The FDA approved wireless continuous non-invasive 'Beat-by-Beat' blood pressure and heart rate monitor manufactured by CareTaker Medical based on patented finger cuff technology. The device allows physicians to remotely monitor medical-grade continuous blood pressure and heart rate from anywhere, using only a patient friendly-finger cuff.

Development of advance cardiac monitoring devices such as remote cardiac monitoring devices and wireless cardiac monitoring devices providing early detection is a major factor expected to boast the cardiac monitoring devices market growth over the forecast period. For instance, ZywiePro, the next-generation cardiac remote monitoring solution launched in 2015, leverages mobile and cloud technology to facilitate detection of cardiovascular arrhythmias. ZywiePro enables physicians to provide more personalized and effective patient care by detailed diagnostic insight into the cardiovascular health of the patients. However, factors inhibiting the cardiac monitoring devices market include high cost of device and lack of knowledge about advance cardiac monitoring devices.

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Advance cardiac monitoring devices enable physician to make accurate diagnosis and determine a treatment plan. For instance, the Reveal LINQ Insertable Cardiac Monitor manufactured by Medtronic, approved by FDA in 2014, is currently the smallest heart monitor in the market. It can diagnose the cause of infrequent, unexplained fainting spells better than conventional testing.

According to the American Heart Association (AHA), 2017, about 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease or the after-effects of stroke. AHA also stated in its report, that direct and indirect costs of cardiovascular diseases and stroke are estimated to account for US$ 316 billion, including health expenditures and lost productivity. Growth in Europe market is driven by emergence of innovative cardiac solutions offered by regional manufacturers and rising cases of cardiovascular diseases.

For instance, LifeWatch —manufacturer of two innovative Mobile Cardiac Telemetry (MCT) solutions — LifeWatch MCT 3 Lead and LifeWatch MCT 1 Lead Patch detects, records, and wirelessly transmits asymptomatic and symptomatic arrhythmia to clinicians for analysis. According to European Heart Network and European Society of Cardiology 2015, over 85 million people suffer from cardiovascular disease (CVD) every year, causing over 4 million deaths in Europe.

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Rise in incidence of cardiovascular diseases such as cardiac arrthymia, ischemic heart disease, and hypertension is expected to fuel growth of the cardiac monitoring devices market. According to World Health Organization (WHO), 2015, cardiovascular diseases was the leading cause of deaths accounting for 17.7 million deaths, globally. Furthermore, increasing applications of cardiac monitors in continuous monitoring for patients with severe electrolyte imbalances and for postoperative observation is expected to augment the market growth over the forecast period.

Asia Pacific is also expected to witness high growth. This is attributed to availability of technological advanced products and rising healthcare concern for stroke prevention associated with atrial fibrillation. According to the Japanese Heart Rhythm Society in 2017, the Asian population with atrial fibrillation (AF) is estimated to reach 72 million by 2050, of whom 2.9 million may suffer from AF-associated strokes.

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Key players in cardiac monitoring devices market are Philips Healthcare, Medtronic, Boston Scientific, Cardiac Science, LifeWatch, CareTaker Medical, Spacelabs, St. Jude Medical, Kohden, CardioNet, and Mortara Instrument.

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