North America Cardiac Monitoring Devices Market Trends, Size, Segment and Growth by Forecast to 2030

The North America cardiac monitoring devices market is projected to grow significantly, reaching US 16.43 billion by 2028, up from US 16.43 billion by 2028,up from US 10.52 billion in 2021, reflecting a compound annual growth rate (CAGR) of 6.6% during the forecast period (2021-2028). Cardiac monitoring devices, such as cardiac event monitors, are essential for tracking heart activity, including heart rate and rhythm, over extended periods. These devices are particularly useful for monitoring intermittent symptoms and transmitting real-time data to healthcare providers, reducing the need for frequent in-person visits.

The market is analyzed across various segments, including type, product type, application, end user, and country (United States, Canada, and Mexico). The report highlights market trends, technological advancements, competitive dynamics, and key players shaping the industry.

Full Report Link - https://www.businessmarketinsights.com/reports/north-america-cardiac-monitoring-devices-market

Market Drivers

1. Rising Prevalence of Cardiovascular Diseases (CVDs)
Cardiovascular diseases, including coronary heart disease, stroke, and heart failure, are a leading cause of death in North America. Key statistics driving the demand for cardiac monitoring devices include:

• 795,000 people in the U.S. suffer a stroke annually, with 610,000 being first-time occurrences.

• By 2035, over 130 million Americans (45.1% of the population) are projected to have some form of CVD.

• Coronary heart disease (CHD) accounted for 42.1% of CVD-related deaths in 2018.

Risk factors such as obesity, diabetes, hypertension, and unhealthy lifestyles further exacerbate the burden of CVDs. Early diagnosis and proactive monitoring are critical to preventing complications, fueling the adoption of cardiac monitoring devices.

2. Technological Advancements and Product Launches
The market is characterized by rapid innovation, with companies investing heavily in R&D to develop advanced, user-friendly, and effective monitoring solutions. Recent developments include:

• Medtronic: Launched the SonarMed airway monitoring system (May 2021) and received FDA clearance for AccuRhythm AI algorithms (July 2021) for use with its LINQ II insertable cardiac monitor.

• Abbott: Introduced the Jot Dx implantable cardiac monitor (July 2021), featuring advanced arrhythmia detection and remote monitoring capabilities.

• MicroPort CRM: Received approval for its Alizea Bluetooth-enabled pacemaker (January 2022), enhancing remote monitoring capabilities.

• Shenzhen Carewell Electronics: Launched AI-powered NeoEC GT180 and NeoECGS120 ECG tablets (June 2021), enabling smart diagnostics.

These innovations, coupled with increasing regulatory approvals, are driving market growth.

3. Impact of COVID-19
The pandemic accelerated the adoption of remote patient monitoring (RPM) technologies, including cardiac monitoring devices. RPM solutions enabled healthcare providers to monitor patients remotely, reducing hospital visits and minimizing exposure risks. This shift is expected to have a lasting impact, with continued demand for wearable and portable monitoring devices.

Market Segmentation
1. By Type
The market is segmented into:
• Cardiovascular Devices: Held the largest market share in 2020, driven by the widespread use of ECG devices, pacemakers, and defibrillators.
• Patient Monitoring Devices: Expected to grow at the highest CAGR, fueled by the rising prevalence of chronic diseases and the need for continuous monitoring.
• Ambulatory Cardiac Monitoring: Includes event recorders and implantable loop recorders, gaining traction for long-term monitoring.
• Multi-Parameter ECG Monitors and Cardiac Monitors: Used for comprehensive heart health assessment.

2. By Product Type
• Standard Monitors: Dominated the market in 2020, widely used in hospitals and clinics.
• Smart Wearable Monitors: Expected to grow at the fastest CAGR, driven by the increasing popularity of wearable health technologies and the shift toward personalized, remote patient care.

3. By Application
• Coronary Heart Diseases: Held the largest market share in 2020 and is expected to remain the dominant segment due to the high prevalence of risk factors like diabetes and hypertension.
• Arrhythmia, Stroke, and Heart Failure: Significant segments driven by the need for early detection and management.

4. By End User
• Hospitals: The largest end-user segment, as hospitals are the primary centers for CVD diagnosis and treatment.
• Ambulatory Surgery Centers (ASCs) and Clinics: Growing adoption of outpatient monitoring solutions.
• Home Care: Increasing demand for remote monitoring devices, especially post-COVID-19.

Competitive Landscape

The North America cardiac monitoring devices market is highly competitive, with key players focusing on product launches, mergers and acquisitions, and technological advancements to strengthen their market position. Major companies include:

• Medtronic
• Abbott
• Boston Scientific Corporation
• iRhythm Technologies, Inc.
• GE Healthcare
• Biotronik, Inc.
• Koninklijke Philips N.V.
• MicroPort Scientific Corporation
• Asahi Kasei Corporation

Strategic Insights

To succeed in this dynamic market, stakeholders should:
1. Invest in R&D: Develop innovative, AI-powered, and user-friendly monitoring solutions.

2. Expand Remote Monitoring Capabilities: Capitalize on the growing demand for RPM technologies.

3. Focus on Emerging Markets: Explore opportunities in underserved regions within North America.

4. Leverage Data Analytics: Use advanced analytics to improve diagnostic accuracy and patient outcomes.

5. Collaborate with Healthcare Providers: Build partnerships to integrate monitoring devices into clinical workflows.

Market Outlook

The North America cardiac monitoring devices market is poised for robust growth, driven by the rising burden of cardiovascular diseases, technological advancements, and the shift toward remote patient monitoring. With a projected CAGR of 6.6%, the market offers significant opportunities for innovation and expansion. Stakeholders who embrace data-driven strategies and focus on patient-centric solutions will be well-positioned to thrive in this evolving landscape.

Report Scope
Attribute Details
Market Size (2021) US$ 10.52 Billion
Market Size (2028) US$ 16.43 Billion
CAGR (2021-2028) 6.6%
Historical Data 2019-2020
Forecast Period 2022-2028
Segments Covered Type, Product Type, Application, End User, Country
Regions Covered United States, Canada, Mexico
Key Players Medtronic, Abbott, Boston Scientific, iRhythm Technologies, GE Healthcare

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This release was published on openPR.