Cardiac Arrhythmia Monitoring Devices Market Size will Observe Substantial Growth by 2024

The term arrhythmia refers to a change in normal sequence of electrical impulses of the heart. There are different types of arrhythmia such as atrial fibrillation, bradycardia, conduction disorders, premature contraction, tachycardia, ventricular fibrillation and other rhythm disorders. Arrhythmia is a major cause of stroke which affects the blood vessels supplying blood to the brain. A stroke occurs when the blood vessels rupture or get clogged by a blood clot and deprive the brain cells of blood within minutes due to shortage of oxygen and nutrient supply. In the U.S., 14 Mn people suffer from coronary artery disease or other complications such as congestive heart failure, angina and arrhythmias.

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A faster heart beat than the normal, is called tachycardia while a slow heart beat is called bradycardia. The most common type of arrhythmia is atrial fibrillation which causes an irregular and faster heartbeat. Many factors affect the heart's rhythm, such as heart attack, smoking, congenital heart defects, and stress. The irregular rhythm of heart beat can be monitored with the heart’s electrical activity using continuous monitor recorder called as ambulatory electrocardiography. Arrhythmia monitoring refers to some tests such as electrocardiographic (ECG) testing and electrophysiology (EP) testing.

Electrophysiology is a subspecialty of cardiology and is a rapidly growing field in discovering cures and new treatments for all forms of arrhythmias. According to the University of California San Francisco (UCSF) Medical Center, electrophysiology is advancing in the assessment of heart's electrical function. UCSF medical center pioneered the use of catheter ablation, a treatment that destroys or disrupts parts of electrical pathways causing arrhythmias. UCSF performs 900 procedures a year including 400 catheter ablation procedures which ensures efficiency and expertise in the treatment of arrhythmias.

The global market for cardiac arrhythmia monitoring device market is segmented on basis of monitoring device type, types of arrhythmia, end user and geography. Segmentation by Monitoring Device Type: Implantable Cardiac Monitors, Resting ECG Devices, ECG Stress Test Devices, Mobile Cardiac Telemetry Monitors, Ambulatory ECG, Holter Monitors, Loop Recorders, Other Cardiac Monitoring Devices. Segmentation by Types of Arrhythmia: Atrial Fibrillation, Bradycardia, Conduction Disorders, Premature Contraction, Tachycardia, Ventricular Fibrillation, Others. Segmentation by End-user: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Cardiac Rehabilitation Centers, Cardiac Research Centers.

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Introduction of different monitoring devices for treating cardiac arrhythmia is expected to boost the growth of the global cardiac arrhythmia monitoring devices market over the forecast period. Catheter ablation procedures can effectively treat number of cases of arrhythmia, with a small incision and shorter recovery time. Implantable cardiac monitors segment is expected to account for remarkable revenues during the forecast period.

ECG stress test devices are used for arrhythmias that occur frequently and ambulatory ECG is used for infrequent arrhythmias. Resting ECG is expected to grow with a higher market value share during the forecast period due to easy availability of devices in hospitals or physician office. Being the first procedure for treating the frequent or constant arrhythmias, it is available with most of the end-users. Ambulatory ECG is expected to account for significant market shares during the forecast period due to easy functioning of devices which detect and record the daily activities.

Atrial Fibrillation is projected to grow at remarkable CAGRs owing to large number of arrhythmia cases due to obesity, unhealthy food habit and increase in aging among population through 2024. Hospital segment is expected to dominate the market in terms of value during forecast year due to availability of various reimbursement policies, monitoring devices and practiced physician with the knowledge on latest devices.

On the basis of regional presence, global cardiac arrhythmia monitoring device market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to lead in terms of value in the global cardiac arrhythmia monitoring device market due to increase in number of cardiac arrhythmia patients in the region. According to the Journal of the Canadian Chiropractic Association, American cardiac patients with an age group of 60 to 85 years demonstrate a complex arrhythmia of both types such as supraventricular and ventricular. The study include 5,201 adults, who were found to have serious arrhythmias such as sustained ventricular tachycardia and complete atrioventricular block of which 4.3% of women and 10.3% of men were detected positive.

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Some of the major players in global cardiac arrhythmia monitoring device market are Biotelemetry, Cardiac Science Corp., Cardiocom, Cardionet, and GE Healthcare etc.

Swapna work as a Sr. Digital Marketing Consultant with Persistence Market Research, an New York based market Intelligence Company which analyzes various markets and estimate the growth opportunities of the market in the future.