Cardiac Arrhythmia Monitoring Devices Market to hit $8 billion by 2025: Global Market Insights, Inc.

Sweden cardiac arrhythmia monitoring devices market is set to achieve over 8% CAGR from 2019 to 2025, driven by high pervasiveness of atrial fibrillation in Sweden as compared to other European countries.

Selbyville, Delaware, July 24, 2019 (GLOBE NEWSWIRE) --

U.S. cardiac arrhythmia monitoring devices market held 37% revenue share of the global market in 2018. As per the Centers For Diseases Control and Prevention, around 2.7 to 6.1 million Americans are affected by atrial fibrillation with about USD 6 billion associated cost to the country. Atrial fibrillation is the foremost cause of mortality and its prevalence is rapidly rising over the years. Thus, high disease epidemiology along with growing approval of innovative and user-friendly heart monitors will positively impact the U.S. cardiac arrhythmia monitoring devices industry growth in the foreseeable future.

Holter monitor device market accounted for major revenue share of over 46% in 2018. Holter monitors offer continuous monitoring of an individual’s heart rhythm. This device is widely used among the population possessing frequent symptoms of arrythmia and used as a first line of diagnostic aid for patients with cardiac irregularity. In addition, these devices are available at a broad cost range, assisting higher customer preference, especially in emerging economies such as India and China. Technological advancements in Holter monitors will further augment the segmental growth in the upcoming years.

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Tachycardia segment of cardiac arrhythmia monitoring devices market held largest revenue size and is projected to progress at 6.8% CAGR during the estimation period. Tachycardia is the most common form of arrythmia, majorly among women and children. Atrial fibrillation, a form of tachycardia, has high incidence rate and affects large population with high risk of stroke and heart failure. Additionally, rising risk factors of suffering from cardiovascular disorders will further impel the segmental growth over the forecast years.

Global Cardiac Arrhythmia Monitoring Devices Market is set to cross USD 8 billion by 2025; according to a new research report by Global Market Insights, Inc. Rising prevalence of various cardiovascular diseases owing to adoption of unhealthy lifestyle habits such as consumption of fatty foods and alcoholism will impel cardiac arrhythmia monitoring devices market growth in the forthcoming years. According to the American College of Cardiology Foundation, cardiovascular disease is one of the primary causes of mortality across the U.S. Lack of physical activity among the population will further contribute to the development of cardiovascular disorders, thereby influencing the demand for cardiac arrhythmia monitoring devices in the coming years.

Development of novel devices for arrhythmia detection such as mobile monitoring devices and wireless devices for cardiac monitoring will escalate the demand for cardiac arrhythmia monitoring devices. Wireless device including mobile cardiac telemetry by AliveCor offers wireless and real-time monitoring of ECG. Similarly, a newly approved device, Zio Patch by iRhythm Technologies gives non-invasive, wireless and maintenance-free solution for its customers with generation of comprehensive report on the patient’s heart rhythm. Thus, technological advancements coupled with rapid adoption of portable devices such as ambulatory arrhythmia monitoring devices for heart rhythm monitoring will drive the cardiac arrhythmia monitoring devices industry growth over the foreseeable future.

Browse key industry insights spread across 180 pages with 290 market data tables & 8 figures & charts from the report, “Cardiac Arrhythmia Monitoring Devices Market Size By Device (Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram {ECG} Monitor), By Application (Tachycardia { Atrial Tachycardia, Ventricular Tachycardia}, Bradycardia, Premature Contraction), By End-use (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, The Netherlands, Austria, Finland, Ireland, Lithuania, Luxembourg, Sweden, Denmark, Japan, China, India, Australia, Thailand, Singapore, South Korea, Brazil, Mexico, Chile, Colombia, Ecuador, Peru, Saudi Arabia, South Africa, Kuwait, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:

However, insufficient number of cardiology professionals for monitoring and interpreting patient’s results may restrict cardiac arrhythmia monitoring devices business growth. Moreover, negative impact of some cardiac arrythmia monitors such as invasive implantable cardiac monitors may hinder cardiac arrhythmia monitoring devices market growth.

Hospitals and clinics segment accounted for USD 2.7 billion segment size in 2018 and the adoption of cardiac arrhythmia monitoring devices in hospitals and clinics is estimated to grow significantly over the analysis period. High growth can be attributed to rising incidence of cardiac arrhythmias coupled with growing geriatric population, susceptible to cardiovascular diseases. Also, as per the Centers For Diseases Control and Prevention, there are over 700,000 hospitalizations for atrial fibrillation in the U.S., annually. Thus, rising patient pool coupled with improving healthcare infrastructure will spur hospitals and clinics segment growth in the forecast timeframe.

Few of the prominent players operating in the global cardiac arrhythmia monitoring devices market are Biotronik, BioTelemetry, Inc., Medtronic plc, iRhythm Technologies, Inc., Nihon Kohden Corporation, St. Jude (Abbott Laboratories) among the other players. Firms are adopting R&D, product development and product launch strategies to expand their market share, competitiveness and earn competitive edge over other market players. For instance, Bardy Diagnostics, Inc. recently launched the first P-wave centric ambulatory cardiac patch monitor for arrythmia detection, with high accuracy, thereby enhancing its brand image and product portfolio.   

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