Cardiac Monitoring Market Size Expected to Reach USD 26.83 Billion by 2027 | Global Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by Reports And Data

Cardiac Monitoring Market Size Expected to Reach USD 26.83 Billion by 2027 | Global Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by Reports And Data
Rise in the cardiovascular disorders worldwide, rising geriatric population, growing prevalence of obesity, favorable reimbursement policies increasing strategic initiatives such as product launch or collaboration, lifestyle changes like smoking are key factors contributing to a high CAGR of the Cardiac monitoring market during the forecast period.

According to the current analysis of Reports and Data, the global Cardiac Monitoring Market valued at USD 19.71 billion in 2019 and is expected to reach USD 26.83 billion by the year 2027 at a CAGR of 3.9%. Cardiac monitoring is referred to as continuous or intermittent monitoring of the activity of the heart, which is generally examined using ECG. The rise in heart related diseases, growing elderly population, obesity, lifestyle changes like smoking, consumption of alcohol, and the advancements in treatments are the factors for boosting the cardiac monitoring market.

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Leading Players Profiled in the Report Include:

Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), Hill-Rom Holding (US), and Koninklijke Philips (Netherlands), Cardiac Science, Livanova, Schiller AG, Biotelemetry, Applied Cardiac System are the key players of the Cardiac monitoring market.

The WHO has reported that the rise in heart related diseases is the primary cause of death globally. It is estimated that cardiovascular diseases cause the death of 17.9 million people every year; it includes 31% of all global deaths. Cardiac monitoring is one of the most efficient and proficient options for the tracking of various heart dysfunctions. Obesity often affects the vascular health and an increased risk of cardiovascular disease (CVD). Obesity or overweight eventually result in an increase in total blood volume and cardiac output, and these hemodynamic changes elevate arterial wall stress, smooth muscle cell proliferation, vessel wall thickness and diameter, and eventually lead to heart related disorders. In 2019, around 38.2 million children under the age of 5 years were overweight or obese according to the WHO. The prevalence is expected to grow continuously leading to rising incidences of heart related disorder thus the demand for cardiac monitoring is estimated to boom rapidly.

Further key findings from the report suggest

  • In June 2020, Boston Scientific received U.S. Food and Drug Administration (FDA) 510(k) clearance for the LUX-Dx Insertable Cardiac Monitor (ICM) System, a new, long-term diagnostic device implanted in patients to detect arrhythmias associated with conditions such as atrial fibrillation (AF), cryptogenic stroke and syncope
  • In May 2020, Bardy Diagnostics has received CE mark certification for the 14-day version of the Carnation Ambulatory Monitor (CAM) patch, the p-wave centric ambulatory cardiac patch monitor and to detect arrhythmia. The company also is expected to bring remotely managed product to monitor patients in COVID-19 crisis with least exposure
  • There was a discovery of a novel ECG-based algorithm in 2019 by Ekos a digital health company that had received the approval of U.S. Food and Drug Administration (USFDA) for a simple screening test for heart failure. In the case of heart disorders, the algorithm inspects 15 seconds of ECG data, which is collected from the Eko Duo digital stethoscope. This data can be obtained by physical examination and will help to identify the reduction of left ventricular ejection fraction (LVEF), which is a measure commonly used to diagnose patients with heart failure
  • Recent researchers have developed a method that would help drivers, military personnel, and athletes to track their heart conditions. Researchers have defined that mobile ECG devices have offered a lot of opportunities for detecting atrial fibrillation, which is the most common heart disorder. These devices will help in the prevention of strokes and lower hospitalizations. It is the first research in which an ear has been used for the detection of ECG signals, this research has been present at the annual congress of the European Heart Rhythm Association 2019 in Lisbon
  • Royal Philipswith the Governments of Ethiopia and the Netherlands had signed in the year 2018 a seven-year agreement to build Ethiopia’s first specialized Cardiac Care Center as there is a severe shortage of cardiac monitoring devices in Ethiopia. the agreement was valued for approximately 40 million euros, Philips had given the responsibility for the design, construction, equipping and commissioning of the hospitals
  • Based on the type segment ECG device type accounted USD 7.16 billion in 2019. The development of technologically advanced products and cost-effective availability of products are major factors driving the market growth

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For the purpose of this report, Reports and Data has segmented the Cardiac monitoring market on the basis of types, end use and region:            

Type Outlook (Revenue in Million USD; 2017–2027)

  • ECG devices
    • Product
      • Resting ECG Devices
      • Stress ECG Devices
      • Holter Monitors
    • Lead
      • Single Lead ECG Wires
      • ECG Lead Wires
      • Others
    • Event Monitors
      • Product
        • Pre Symptom Loop
        • Post Symptom Loop
      • Technology
        • Auto Detect
        • Manual Detect
      • Cardiac output monitoring
        • Invasive Cardiac Output Monitoring
        • Non-Invasive Cardiac Output Monitoring
      • Implantable Loop Recorders
      • Mobile Cardiac Telemetry Monitoring(MCT)
      • Smart wearable ECG monitors
      • Cardiac Rhythm Monitors
        • Defibrillators
          • Implantable Cardioverter Defibrillators
          • External Defibrillators
        • Pacemaker

End Use outlook (Revenue in Million USD; 2017–2027)              

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers,
  • Home Care Settings

Regional Outlook (Revenue in Million USD; 2017–2027)

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Table of contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2017 – 2027

Chapter 3. Indicative Metrics

Chapter 4. COVID 19 impact assessment

    4.1. Global cardiac monitoring Industry Outlook

           Q1 2020

           Q2 2020

           Q3 2020

           Q4 2020

    4.2. Supply chain stabilization

           Supply scenario

           Demand scenario

    4.3. Upcoming strategies required to combat the current situation


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