Cardiac Monitoring Devices Market: Trends, Growth, and Forecast 2024-2031

Market Size
The Cardiac Monitoring Devices Market size was valued at USD 7,696.50 million in 2021 and is estimated to reach a compound annual growth rate (CAGR) of 5.90% over the forecast period 2024-2031.

Cardiac monitoring devices aid in the ongoing observation of a patient's heart electrical activity, represented as pressure waveforms. The functioning of these devices relies on both continuous and sporadic heart activity, typically via electrocardiography. These devices are commonly employed to identify heart irregularities and assist in managing severe cardiac conditions like heart failure and atrial fibrillation, among others.

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Market Dynamics
The market growth is being driven by the increasing demand for home-based, point-of-care, and remote cardiac monitoring systems.

Advancements in technology have led to more sophisticated methods of remotely monitoring heart failure. This should facilitate earlier detection of decompensation, improved adherence to lifestyle modifications, and interventions such as changes in diuretic dosage that can reduce hospitalization needs. As per the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death worldwide, with approximately 30 million people experiencing a heart attack or stroke each year. The American Heart Association states that nearly half of the adults in the US have some form of CVD. By 2035, it is projected that over 130 million adults, or 45.1% of the US population, will have some form of CVD.

Primary risk factors for CVD include family history, ethnicity, and age. Other risk factors encompass tobacco use, high blood pressure (hypertension), high cholesterol, obesity, physical inactivity, diabetes, unhealthy diets, and alcohol consumption. Lifestyle changes have led to an increase in the prevalence of diseases such as hypertension, diabetes, dyslipidemia, and obesity, which also contribute to the global rise in CVD incidence.

Most types of CVDs can be prevented through early monitoring and diagnosis. Similarly, heart function abnormalities, known as arrhythmias, can be prevented with early detection. As a result, the demand for Cardiac Monitoring (CM) & Cardiac Rhythm Management (CRM) devices is on the rise, as these devices can potentially save patients at high risk of cardiac arrest. These factors are expected to drive the market growth in the forecast period.

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Market Segmentation

By Product Type
Resting ECG Devices
Stress ECG Devices
ECG Holter Monitors
Event Monitoring Systems
Implantable Loop Recorder
Cardiac Output Monitoring Devices
Mobile Cardiac Telemetry Devices
Others

By End User
Hospital
Ambulatory Surgical Centers

Market Key Players
Major players are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, iRhythm Technologies Inc, Biotronik, Livanova, Hill-Rom Holdings, Schiller, and Biotelemetry.

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