Remote Cardiac Monitoring: Shaping the Future of Healthcare

The Business Research Company recently released a comprehensive report on the Global Remote Cardiac Monitoring Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The remote cardiac monitoring market size has grown exponentially in recent years. It will grow from $5.08 billion in 2023 to $6.21 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to increasing prevalence of cardiovascular diseases, global increase in the elderly population, favorable regulatory approvals, growing awareness about preventive healthcare, significant investment and funding in health-tech startups.

The remote cardiac monitoring market size is expected to see exponential growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to increasing healthcare infrastructure, awareness in emerging economies, continued rise of telehealth services, growing consumer interest in wearable health tech, and efforts to reduce healthcare costs by minimizing hospital readmissions. Major trends in the forecast period include seamless integration of AI and machine learning algorithms with telehealth platforms, data security and privacy enhancements, development of personalized monitoring solutions, increased use of cloud-based platforms for data storage and analytics, technological advancements.

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Market Drivers and Trends:

The increasing prevalence of cardiovascular diseases is expected to propel the growth of the remote cardiac monitoring market going forward. Cardiovascular diseases are a group of disorders involving the heart and blood vessels, including conditions such as coronary artery disease, heart failure, arrhythmias, and hypertension. Cardiovascular diseases are rising due to factors such as unhealthy diets, physical inactivity, increased prevalence of obesity and diabetes, and aging populations. Remote cardiac monitoring is required for cardiovascular diseases to enable continuous, real-time tracking of heart health, allowing for early detection, timely intervention, and better management of these conditions. For instance, in August 2022, a report published by the American College of Cardiology, a US-based non-profit medical association, projected significant increases in cardiovascular risk factors in the US by 2060, with diabetes rising by 39.3% to 55 million individuals and stroke cases increasing by 33.8% to 15 million. Therefore, the rising prevalence of cardiovascular diseases will drive the remote cardiac monitoring market.

Major companies operating in the remote cardiac monitoring market are developing technologically advanced solutions, such as ultrasound systems, to enhance the accuracy and convenience of cardiac health monitoring. An ultrasound system refers to a medical device used for performing ultrasound imaging. For instance, In December 2022, Royal Philips launched the Ultrasound Compact System 5000 Series, offering premium diagnostic quality, portability, compatibility with EPIQ Elite and Affiniti transducers, and featuring Collaboration Live telemedicine software for real-time remote consultations. It provides access to premium cart-based diagnostic quality, emphasizing portability and versatility while maintaining high image fidelity and performance.

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Major Key Players of the Market:

Abbott Laboratories, Honeywell International Inc., Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, ZOLL Medical Corporation, Boston Scientific Corporation, Hill-Rom Holdings Inc., Masimo Corporation, Biotronik SE, Nihon Kohden Corporation, OSI Systems Inc., Irhythm Technologies Inc., BioTelemetry Inc., Spacelabs Healthcare Inc., AMC Health, Huma Limited, Alivecor Inc., Contec Medical Systems Co. Ltd., InfoBionic Inc., Bardy Diagnostics Inc., ChroniSense Medical Ltd., Ejenta Inc., Cardiomo Care Inc., Vitls Inc.

Remote Cardiac Monitoring Market 2024 Key Insights:

• The remote cardiac monitoring market size is expected to see exponential growth in the next few years. It will grow to $13.92 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%.
• Rising Prevalence Of Cardiovascular Diseases Fuels Growth In Remote Cardiac Monitoring Market
• Technological Advancements In The Remote Cardiac Monitoring Market
• North America was the largest region in the remote cardiac monitoring market in 2023

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