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Cardiac Monitoring Market: Current Analysis and Forecast (2021-2027)

Region:Asia

Author(s):

Product Code:UMHE21864

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Published on

June 2022

Total pages

223

Table of Content

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About the Report

About the Report

The global cardiac monitoring market is expected to witness a CAGR of around ~6% during the forecast period (2021-2027). Cardiac monitoring is a process in which a device records a patient's heart rate and rhythm and shows the electrical waveforms of the cardiovascular system for measurement and treatment. Furthermore, the market is expected to witness a significant during the forecast period owing to the rising cardiovascular diseases, heart arrhythmia, coronary heart diseases, and the growth of the geriatric population. For instance, according to the World Population Ageing Report 2019 by United Nations (UN), In 2019, there were 703 million persons aged 65 years or over in the global population. This number is projected to double to 1.5 billion in 2050. In addition, obesity, unhealthy diet, diabetes, and hypertension contributes directly to increased risk of cardiovascular diseases.
COVID-19 has posed challenges for physicians whose cardiac patients are at-risk and reluctant to schedule an office visit has led to an increase in the preference for remote monitoring of patients with cardiovascular conditions. This shift has been adopted with a view to reduce the chances of infections due to frequent hospital and clinic visits. Various studies suggested that even a mild case of COVID-19 can increase a person's risk of cardiovascular problems. Thus, it became important to regularly monitor the patients for any risk of cardiovascular diseases. This supported the demand for cardic monitoring devices during the pandemic and expected to witness the steady rise during the forecast period.
Based on type, the market is classified into ECG monitor, event recorder, implantable cardiac loop recorder, pacemaker, defibrillator, cardiac resynchronization therapy (CRT) devices, smart wearable, and others. Amongst them, in 2020, the ECG monitor category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising incidence of patients suffering from CVDs has increased efficient diagnosis, thus creating demand for ECG machines. Additionally, the market growth is driven by the rising geriatric population coupled with rising incidences of heart and lung diseases such as coronary artery diseases (CAD) and cardiac failure or severe acute respiratory distress syndrome (ARDS). According to WHO, Cardiovascular diseases (CVDs) are the leading cause of death worldwide. Furthermore, around 17.9 million people died because of CVDs in 2019.
Based on end-user, the market is bifurcated into hospitals and clinics, ambulatory surgery centers (ASC), home care settings, and others. In 2020, the hospitals and clinics category accounted for the majority share during the forecast period owing to the increasing construction of hospitals, the large number of patients treated at hospitals, the availability of trained professionals to operate cardiac monitoring devices, and a surge in the number of heart surgeries in the hospital setting. However, ambulatory surgical centers are also likely to witness the fastest growth during the forecast period. In the U.S., about 18 million adults aged 20 and older have coronary artery disease (CAD). Furthermore, according to American Heart Association (AHA), coronary heart diseases cause 1 in every 7 deaths in the U.S., resulting in about 366,800 deaths each year. In addition, in 2020, there were 2.2 million new cases of lung cancer reported.
For a better understanding of the market adoption of the cardiac monitoring industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America); Europe (Germany, United Kingdom, France, Spain, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Rest of Asia-Pacific); and the Rest of World. In 2020. North America held the extensive market share owing to the increasing prevalence of CVDs, diabetes, and hypertension coupled with the rising geriatric population in the region. According to the US Census Bureau analysis, the elderly population is expected to nearly double in the next 25 years. In addition, according to World Population Ageing, in 2019, the elderly population of North America was 59.9 million which is expected to reach 96.2 million by 2050.
Some of the major players operating in the market include Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Biotronik, Livanova, Schiller, Biotelemetry, Applied Cardiac System, and Hill-Rom Services.

Products


Companies

Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Biotronik, Livanova, Schiller, Biotelemetry, Applied Cardiac System, and Hill-Rom Services.

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stakeholders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Cardiac Monitoring Market

2.2. Research Methodology of the Cardiac Monitoring Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Cardiac Monitoring Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 CARDIAC MONITORING MARKET COVID-19 IMPACT

6 CARDIAC MONITORING MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. ECG Monitor

7.2. Event Recorder

7.3. Implantable Cardiac Loop Recorder

7.4. Pacemaker

7.5. Defibrillator

7.6. Cardiac Resynchronization Therapy (CRT) Devices

7.7. Smart Wearable

7.8. Others

8 MARKET INSIGHTS BY END-USER

8.1. Hospitals & Clinics

8.2. Ambulatory Surgery Centers (ASC)

8.3. Home Care Settings

8.4. Others

9 MARKET INSIGHTS BY REGION

9.1. North America

9.1.1. U.S.

9.1.2. Canada

9.1.3. Rest of North America

9.2. Europe

9.2.1. Germany

9.2.2. United Kingdom

9.2.3. France

9.2.4. Spain

9.2.5. Italy

9.2.6. Rest of Europe

9.3. Asia-Pacific

9.3.1. China

9.3.2. Japan

9.3.3. India

9.3.4. Rest of Asia-Pacific

9.4. Rest of World

10 CARDIAC MONITORING MARKET DYNAMICS

10.1. Market Drivers

10.2. Market Challenges

10.3. Impact Analysis

11 CARDIAC MONITORING MARKET OPPORTUNITIES

12 CARDIAC MONITORING MARKET TRENDS

13 DEMAND AND SUPPLY-SIDE ANALYSIS

13.1. Demand Side Analysis

13.2. Supply Side Analysis

14 VALUE CHAIN ANALYSIS

15 COMPETITIVE SCENARIO

15.1. Competitive Landscape

15.1.1. Porter's Five Forces Analysis

16 COMPANY PROFILED

16.1. Medtronic PLC

16.2. Abbott Laboratories

16.3. Boston Scientific Corporation

16.4. GE Healthcare

16.5. Biotronik

16.6. Livanova

16.7. Schiller

16.8. Biotelemetry

16.9. Hill-Rom Holdings

16.10. Applied Cardiac System

17 DISCLAIMER

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