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

The North American cardiac monitoring devices market is projected to grow from US$ 10.52 billion in 2021 to US$ 16.43 billion by 2028, with a compound annual growth rate (CAGR) of 6.6% during the forecast period.

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Cardiac event monitors track the heart's electrical activity (ECG), monitoring heartbeat and rhythm over an extended period. These devices are particularly useful for detecting irregular symptoms that do not occur daily. By utilizing real-time tracking and recording, cardiac monitoring systems enable healthcare providers to remotely assess patients' heart health, reducing the need for frequent in-person visits.

The North American cardiac monitoring devices market is segmented by type, product type, application, end user, and country. Geographically, the market is categorized into the United States, Canada, and Mexico. This report provides a comprehensive analysis of market trends, technological advancements, and key market dynamics, along with an in-depth assessment of the competitive landscape featuring the industry's leading players.

Market Insights

Increase in Incidence of Cardiovascular Diseases Drives North America Cardiac Monitoring Devices Market Growth

Every 40 seconds, someone in the United States gets a stroke. A stroke kills someone every 4 minutes. A stroke affects more than 795,000 people in the United States each year. The first or new strokes account for around 610,000 of these. The growing prevalence of cardiovascular diseases (CVDs) such as coronary heart diseases, sudden cardiac arrest, congenital heart diseases, heart failure, pulmonary hypertension, and pulmonary artery pressure (PA) is encouraging the introduction of improved monitoring methods. The simplicity of use and the ability of the quick detection of cardiovascular diseases (CVDs) are adding to the popularity of cardiac monitoring devices. According to the World Health Organization (WHO), ~30 million people experience a stroke each year. Moreover, the American Heart Association states more than 130 million people in the US, i.e., 45.1% of the population, are projected to have a type of CVD by 2035. In 2018, Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke, high blood pressure, heart failure, diseases of the arteries, and other CVD. A few of the primary risk factors of CVDs include family history, ethnicity, and age; other risk factors include tobacco consumption, hypertension, obesity, high cholesterol, physical inactivity, diabetes, unhealthy diets, and alcohol consumption. Most CVD cases can be prevented through proactive monitoring and early diagnosis, which bolsters the need for cardiac monitoring devices.

Rise in Number of Product Launches and Approvals Contributes Significantly to Market Growth

The North America cardiac monitoring devices market is characterized by the presence of many small and big companies. To increase their market share, market players are adopting strategies such as new product launches, regional expansions, and technological advancements. Cardiac monitoring devices are safer and more effective than ever with continued innovation and technological advances, leading to increased acceptance of cardiac monitoring devices. Prominent players are investing in R&D to develop advanced technologies and improve their revenue shares.

Here are some recent developments in the North American cardiac monitoring devices market:

• May 2021: Medtronic launched the SonarMed airway monitoring system in the US, the first device using acoustic technology to detect endotracheal tube (ETT) obstructions in real time.

• July 2021: Medtronic received FDA clearance for two AccuRhythm AI algorithms for the LINQ II insertable cardiac monitor, enhancing diagnostic accuracy using AI.

• July 2021: Abbott introduced Jot Dx, its latest implantable cardiac monitor, enabling remote arrhythmia detection with improved diagnostic accuracy through its "Key Episodes" feature and SyncUP service.

• January 2022: MicroPort CRM received approval from Japan's PMDA for Alizea, a Bluetooth-enabled implantable pacemaker for optimized remote monitoring.

• June 2021: Shenzhen Carewell Electronics launched NeoEC GT180 and NeoECGS120 ECG tablets, supporting AI-powered diagnostics via the AIECG platform.

Type Insights

Based on type, the North America cardiac monitoring devices market is segmented into cardiovascular devices, multi-parameter ECG monitors, patient monitoring devices, ambulatory cardiac monitoring, and cardiac monitors. In 2020, the cardiovascular devices segment held the largest share of the market. Further, the market for the patient monitoring devices segment is expected to grow at the highest CAGR during 2021-2028. With a growing prevalence of chronic disorders such as stroke, coronary heart disease, sudden cardiac arrest, and congenital heart diseases, the demand for patient monitoring devices is increasing. Temperature monitoring, continuous glucose monitoring, and pulsed oximetry blood pressure monitoring are several applications of wearable patient monitoring, biosensors, and smart implants.

Product Type Insights

Based on product type, the North America cardiac monitoring devices market is segmented into portable monitor, smart wearable monitor, and standard monitor. In 2020, the standard monitor segment held the largest share of the market. Moreover, the market for the smart wearable monitor segment is expected to grow at the fastest CAGR during 2021-2028. The PMMA is a plastic with excellent mechanical properties and minimal toxicity. The growing trend of smart wearable is encouraging the usage of commercial smart wearable monitors for health management. In the era of remote and personalized patient care, especially catalyzed by the COVID-19 pandemic, there is a high demand for wearable technologies for a wide range of clinical applications.

Application Insights

Based on application, the North America cardiac monitoring devices market is segmented into coronary heart diseases, sudden cardiac arrest, stroke, arrhythmia, congenital heart diseases, heart failure, pulmonary hypertension, heart function (HF/LVEDP), pulmonary artery pressure (PA), and others. The coronary heart diseases segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. The increased prevalence of diabetes, hypertension, and high cholesterol levels is contributing to the growing risk of cardiovascular disease and accelerating the cases of coronary heart diseases.

End User Insights

Based on end user, the North America cardiac monitoring devices market is segmented into hospitals, ambulatory surgery centers (ASCs), and clinics. The hospitals segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. Hospitals are the primary healthcare centers where cardiovascular diseases, including coronary heart diseases, stroke, sudden cardiac arrest, and arrhythmia, are extensively treated.

Strategic Insights

Product launches and mergers and acquisitions are the highly adopted strategies by the players operating in the North America cardiac monitoring devices market. A few of the recent key product developments are listed below:

• In July 2021, Abbott launched the Jot Dx insertable cardiac monitor in the US market to detect irregular heart rhythms.

• In July 2021, the US Food and Drug Administration (FDA) approved two AccuRhythm AI algorithms for use with the LINQ II insertable cardiac monitor (ICM). AccuRhythm AI uses artificial intelligence (AI) to improve the accuracy of heart rhythm event data acquired by LINQ II, allowing physicians to better diagnose and treat aberrant heart rhythms.

Cardiac Monitoring Devices - Market Segmentation

The North America cardiac monitoring devices market is segmented by type, product type, application, and end user.

• By Type: Cardiovascular devices (event monitors, ECG, cardiac catheters, stents, defibrillators, guidewires, pacemakers, heart valves, etc.), patient monitoring devices (cardio monitoring, anesthesia monitoring, hemodynamic monitoring, fetal and neonatal monitoring, stress management, etc.), multi-parameter ECG monitors, cardiac monitors (CEM holter, extended holter/AECG, etc.), ambulatory cardiac monitoring (event recorders, implantable loop recorders, mobile cardiac telemetry, etc.), and others.

• By Product Type: Standard monitors, portable monitors, and smart wearable monitors.

• By Application: Coronary heart disease, stroke, sudden cardiac arrest, arrhythmia, heart failure, pulmonary hypertension, congenital heart diseases, pulmonary artery pressure (PA), heart function (HF/LVEDP), and others.

• By End User: Hospitals, clinics, ambulatory surgery centers, cardiac centers, home care, and others.
• By Country: US, Canada, and Mexico.

North America Cardiac Monitoring Devices Strategic Insights

Strategic insights for the North America Cardiac Monitoring Devices provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Cardiac Monitoring Devices Regional Insights

The geographic scope of the North America Cardiac Monitoring Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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