Cardiac Monitoring & Cardiac Rhythm Management Devices Market Supply-Demand, Industry Research and End User Analysis, Outlook 2024

"Increasing prevalence of CVD to drive the growth of this market."

The cardiac monitoring and cardiac rhythm management devices market is projected to reach USD 25.0 billion by 2024 from USD 20.7 billion in 2019, at a CAGR of 3.9%. Growth in this market is primarily driven by the increasing incidence of cardiovascular diseases; technological advancements; increasing investments, funds, and grants for research on CM & CRM devices; and the growing preference for wearable cardiac devices. However, the dearth of skilled professionals and frequent product recalls are expected to challenge market growth in the coming years

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The CM & CRM devices market comprises major players such as Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holdings (US), and Koninklijke Philips (Netherlands). The study includes an in-depth competitive analysis of these key players in the CM & CRM devices market, along with their company profiles, recent developments, and key market strategies.

"ILRs are expected to grow at the highest CAGR during the forecast period."

Based on type, the CM devices market is segmented into ECG devices, ILR, MCT, event monitors, COM devices, and smart ECG monitors. Of these, ILRs are expected to grow at the highest CAGR during the forecast period. The advantages of ILRs are a higher rate of diagnosis of heart rhythm problems than external recorders, long-term monitoring of up to three years, large storage capacity, remote monitoring, and detection & reduction of recurrent syncopes. Owing to their benefits, the demand for these devices is expected to increase across the globe

"The defibrillators segment is expected to grow at the highest CAGR during the forecast period."

Based on type, the CRM devices market is segmented into defibrillators and pacemakers. The defibrillators segment is expected to grow at the highest CAGR in the forecast period. Technological advancements in defibrillators, rising prevalence of CVDs, and the growing focus on providing public-access defibrillators are some of the major factors expected to propel the growth of this market.

"The ambulatory surgical centers segment is expected to grow at the highest CAGR during the forecast period."

The ambulatory surgical centers segment is expected to grow at the highest CAGR in the forecast period. Growing number of ASCs and physicians are realizing the benefits of performing cardiovascular procedures at ASCs, thus attributing to its high CAGR during the forecast period.

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"APAC to grow at the highest CAGR during the forecast period."

In the CM & CRM devices market, the APAC market, particularly in China, Japan, India, and the Association of Southeast Asian Nations (ASEAN) countries, is expected to witness the highest growth in the next five years. This is due to the rising prevalence of CVDs in APAC countries, attributed to the increasing adoption of sedentary lifestyles, changing diets, increasing stress, and habitual smoking and drinking.

List of Tables

Table 1 Recent Product Innovations in The CM & CRM Market
Table 2 Key Product Recalls
Table 3 Cardiac Monitoring Devices Market, By Type, 2017-2024 (USD Million)
Table 4 Ecg Devices & Event Monitors Market, 2017-2024 (Units)
Table 5 Ecg Devices Market, By Type, 2017-2024 (USD Million)
Table 6 Ecg Devices Market, By Region, 2017-2024 (USD Million)
Table 7 North America: Ecg Devices Market, By Country, 2017-2024 (USD Million)
Table 8 Europe: Ecg Devices Market, By Country, 2017-2024 (USD Million)
Table 9 APAC: Ecg Devices Market, By Country, 2017-2024 (USD Million)
Table 10 Resting Ecg Devices Market, By Region, 2017-2024 (USD Million)
Table 11 Stress Ecg Devices Market, By Region, 2017-2024 (USD Million)
Table 12 Holter Monitors Market, By Region, 2017-2024 (USD Million)
Table 13 Implantable Loop Recorders Market, By Region, 2017-2024 (USD Million)
Table 14 North America: Implantable Loop Recorders Market, By Country, 2017-2024 (USD Million)
Table 15 Europe: Implantable Loop Recorders Market, By Country, 2017-2024 (USD Million)

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List of Figures

Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Research Methodology: Hypothesis Building
Figure 4 Market Size Estimation: CRM Devices Market
Figure 5 Market Data Triangulation Methodology
Figure 6 Cardiac Monitoring Devices Market, By Type, 2019 vs. 2024 (USD Million)
Figure 7 Transvenous Implantable Cardioverter Defibrillators Market, By Type, 2019 vs. 2024 (USD Million)
Figure 8 Cardiac Monitoring and Cardiac Rhythm Management Devices Market, By End User, 2019 vs. 2024
Figure 9 Geographical Snapshot of The Cardiac Monitoring and Cardiac Rhythm Management Devices Market
Figure 10 Increasing Prevalence of Cardiovascular Diseases Will Drive Market GRoWth
Figure 11 Hospitals, Clinics, & Cardiac Centers Dominated The CM & CRM Devices Market in The APAC in 2018
Figure 12 Defibrillators to Witness The Highest Growth During The Forecast Period
Figure 13 China to Register The Highest CAGR During The Forecast Period
Figure 14 Cardiac Monitoring and Cardiac Rhythm Management Devices Market: Geographic Growth Opportunities
Figure 15 North America: Cardiac Monitoring and Cardiac Rhythm Management Devices Market Snapshot
Figure 16 France: CRM Device Implantation, 2015-2018

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