Healthcare

Cardiac Rhythm Management (CRM) Devices

The Arrhythmia Monitoring Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Arrhythmia Monitoring Devices Global Market Report 2024, The arrhythmia monitoring devices market size has grown rapidly in recent years. It will grow from $6.98 billion in 2023 to $7.7 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to aging population, healthcare infrastructure growth, rise in personalized medicine, rise in home healthcare, increased funding.

The arrhythmia monitoring devices market size is expected to see strong growth in the next few years. It will grow to $11.08 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to rising cardiovascular diseases, telemedicine growth, regulatory approvals, rise in remote patient monitoring, economic growth. Major trends in the forecast period include wearable technology advancements, use of artificial intelligence and machine learning, patient-centric solutions, iot integration, preventive healthcare and health tracking.

The rising incidence of cardiovascular diseases is expected to drive the arrhythmia monitoring devices market. Cardiovascular disease (CVD) refers to disorders that affect the heart or blood vessels. Arrhythmia monitoring devices are used to monitor irregular heart rates, which is the primary symptom of most cardiovascular diseases. An increase in the incidence of cardiovascular diseases increases the need for arrhythmia monitoring devices. For instance, in August 2022, the American College of Cardiology, a US-based nonprofit medical association published an article according to which the projected rates of cardiovascular risk factors and disease will increase significantly in the United States from the year 2025 to 2060. Factors such as heart failure will increase by 33.4% and ischemic heart disease will increase by 30.7% by the year 2060. Therefore, the rising incidence of cardiovascular diseases will drive the arrhythmia monitoring devices market.

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The arrhythmia monitoring devices market covered in this report is segmented –

1) By Type: ECG, Implantable Monitors, Holter Monitors, Mobile Cardiac Telemetry

2) By Application: Bradycardia, Tachycardia, Atrial Fibrillation, Ventricular Fibrillation, Premature Contraction, Other Applications

3) By End-User: Hospitals And Diagnostic Centers, Ambulatory Centers, Other End Users

Technological advancements are a key trend in the arrhythmia monitoring devices market. Major companies operating in the arrhythmia monitoring devices market are integrating novel technologies such as AI, detection technologies, and others to increase accuracy and manage data efficiently. For instance, in January 2021, SmartCardia SA, a Switzerland-based platform that combines medical wearable technology with AI, launched a cloud-based AI platform and patch for real-time patient monitoring. The AI platform performs real-time detection of significant arrhythmia episodes with cardiologist-level accuracy and is built from millions of ECG segments labelled by cardiologists and qualified cardiac technicians. Clinicians and hospital personnel can take quick action with the data because it is accessible in real-time on a secure cloud.

The arrhythmia monitoring devices market report table of contents includes: