Luton, Bedfordshire, UK, Oct. 27, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consulting arm of Improve Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on Cardiac Monitoring Devices Market.
Global Cardiac Monitoring Devices Market size was valued at USD 29.5 Billion in 2020 and is projected to grow USD 43.34 by 2028 at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2028
Major companies covered in Cardiac Monitoring Devices market are Medtronic, Abbott, Boston Scientific Corporation, GE Healthcare, BIOTRONIK and Koninklijke Philips NV
A cardiac event monitor is a device used to record the heart’s electrical activity (ECG) and track heartbeats and rhythm. Important heart health data can be tracked, recorded and sent to patients’ doctors using a heart monitoring gadget, reducing the need for frequent visits to the doctor’s office, allowing the healthcare team to monitor patient heart health remotely.
In terms of revenue, cardiac rhythm management devices captured the market with a share of around 68.3% in 2019. This high share is attributed to the introduction of technologically advanced cardiac rhythm management devices such as fitness trackers and smartwatches, which can improve atrial fibrillation (AFib). detection and screening.
Cardiac monitoring devices are further divided into implantable loop recorder (ILR), event monitors, ECG, mobile cardiac telemetry and others. The electrocardiography (ECG) segment dominated the cardiac monitoring devices market with a share of approximately 34.4% in 2019. Government initiatives, technological advancements, regional expansions and the commercialization of new products are expected to boost the cardiac monitoring and cardiac rhythm management market in the coming years.
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In July 2021, Abbott launched the Jot Dx insertable heart monitor in the US market to detect irregular heart rhythms.
Medtronic Announces FDA Clearance and Results of Artificial Intelligence Algorithms for Cardiac Monitoring– Medtronic plc, the global medical technology leader, today announced US Food and Drug Administration (FDA) clearance for two AccuRhythm™ AI algorithms for use with the Insertable Cardiac Monitor (ICM) LINQ II™.
The European Society of Cardiology on April 21, 2020 suggested that patients with cardiovascular disease should show vulnerability in the event of COVID-19 infection. It is difficult to predict the exact curve of the coronavirus pandemic around the world. However, considering the grim situation, especially in the US and Europe, the peak demand for critical care equipment is expected to increase at an exponential rate in 2020.
North America led the market with a share of approximately 37.3% in 2020. The growth can be attributed to increasing disposable income, increasing elderly population, rapid technological advancements such as long battery life, miniaturization, lead-free or biocompatible materials, and improved government rate. regulatory approvals.
The Asia-Pacific region is expected to show lucrative growth in the cardiac monitoring and cardiac rhythm management market over the forecast period. Growing demand for a better healthcare system and huge untapped opportunities are driving growth.
Within the scope of Cardiac Monitoring Devices market segmentation, our study presents market analysis based on type, market application and historical data:
|Attributes||Details (current scenario)|
|CAGR (XX%)||608 % (Analysis of the current market)|
|Personalization available||Yes, the report can be customized according to your needs. (Free 15% customization)|
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Key benefits of the report:
-This study presents the analytical representation of the Global Cardiac Monitoring Devices Market along with current trends and future estimations to determine future pockets of investment.
-The research report presents information related to key drivers, restraints, and opportunities, along with an in-depth analysis of the global Cardiac Monitoring Devices market share.
-The current market is analyzed qualitatively and quantitatively from 2022 to 2028 to highlight the business scenario of the global Cardiac Monitoring Devices market.
– Porter’s Five Forces analysis illustrates the strength of buyers and suppliers in the market.
-The report provides a detailed analysis of the Global Cardiac Monitoring Devices Market based on the competitive landscape.
Frequently asked questions about this report:
- Who are the major market players active in the Cardiac Monitoring Devices Market?
- What are the current trends that will influence the market in the coming years?
- What are the driving characteristics, restraints and opportunities of the market?
- What are the predictions for the future that would help take further strategic action?
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