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Cardiac Arrhythmia Monitoring Devices Market Size, Growth, Share, Industry Analysis, Outlook Report 2024-2033
Cardiac Arrhythmia Monitoring Devices Market
The Business Research Company presents an extensive market research report on the Cardiac Arrhythmia Monitoring Devices Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The cardiac arrhythmia monitoring devices market size has grown strongly in recent years. It will grow from $7.42 billion in 2023 to $8.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased lifestyle-related risk factors, globalization of healthcare services, patient preference for home-based monitoring, awareness and screening programs, rising incidence of cardiovascular diseases.
The cardiac arrhythmia monitoring devices market size is expected to see strong growth in the next few years. It will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to expansion of telehealth services, focus on continuous monitoring, development of smart clothing for monitoring, focus on early intervention, focus on user-friendly device design, patient empowerment and engagement. Major trends in the forecast period include rise in wearable technologies, integration of artificial intelligence (ai), continuous ecg monitoring devices, miniaturization and portability, smartphone connectivity and apps, long-term monitoring solutions, innovations in implantable devices.
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Key Market Players:
Major companies operating in the cardiac arrhythmia monitoring devices market report are AliveCor Inc., Biotronik SE & Co. KG, General Electric Company, iRhythm Technologies Inc., Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, Smart Solutions Technologies S.L., Abbott Laboratories, OSI Systems Inc., Hill-Rom Holdings Inc., Applied Cardiac System Diagnostics Inc., Biotricity Inc., Boston Scientific Corporation, Medicalgorithmics S.A., Siemens AG, Edwards Lifescience Corporation, LivaNova PLC, Phoenix Heart Center, Fukuda Denshi Co. Ltd., Royal Philips, NUUBO SMART SOLUTIONS S.L, Cardiac Insight Inc., CardioComm Solutions Inc., Vascular Solutions Inc., Johnson & Johnson Services Inc., MicroPort Scientific Corporation, Osypka AG, AtaCor Medical, Spacelabs Healthcare
Market Drivers:
The growing prevalence of cardiovascular diseases is expected to propel the growth of the cardiac arrhythmia monitoring devices market going forward. Cardiovascular diseases refer to the group of diseases associated with conditions affecting the heart and blood vessels such as atherosclerosis, angina, heart attacks, aortic disease, and others. In cardiovascular diseases, cardiac arrhythmia monitoring devices help in event monitoring to keep track of the electrical activity of a patient's heart rhythm and beat (ECG) and detect or determine the risk of irregular heartbeats (arrhythmias). For instance, in April 2023, according to HMP Global, a US-based multi-accredited patient-centered education company, it is projected that the prevalence of peripheral arterial disease in the US will reach 23.8 million in 2030, from 21.0 million in 2020. Therefore, the growing prevalence of cardiovascular diseases is driving the growth of the cardiac arrhythmia monitoring devices market.
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The cardiac arrhythmia monitoring devices market covered in this report is segmented -
1) By Type: Standards in Ambulatory Cardiac Monitoring, Patient- and Event-activated Intermittent Recorders, External Loop Recorder Pre-symptom Memory Loop Cardiac Event Recorder, Post-symptom Event Recorder, Contnous Real-time Attended Remote Cardiac Monitors, Mobile Cardiac Outpatient Telemetry System, Vital Signs Transmitter (Bio Watch Medical)
2) By Device: Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram (ECG) Monitor, Other Devices
3) By Application: Tachycardia, Bradycardia, Premature Contraction, Other Applications
4) By End-use: Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings, Other End-uses
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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