Arrhythmia Monitoring Devices Market 2021: Global Opportunities, Growth Factors And Forecast

Arrhythmia Monitoring Devices Market Analysis

The global arrhythmia monitoring devices market is predicted to touch USD 8,087.4 million at a 6.44% CAGR over the forecast period (2016-2024), in accordance to the latest Market Research Future (MRFR) report. An arrhythmia, simply put, is an irregular heartbeat, it may beat irregularly, too slowly, too early, or too fast. An arrhythmia monitoring device is used to track the functions of the heart and report abnormalities if any in the normal rhythm. Holter monitor, mobile cardiac telemetry, resting ECG, event monitor, and implantable cardiac monitor are the different types of arrhythmia monitoring devices.

Various factors are propelling the arrhythmia monitoring devices market growth. These factors, in accordance with the MRFR report, include rising use of telecardiology, portability, and ease of use, development of smart cardiac monitors, rising incidences of patients with cardiac ailments, and favorable reimbursement policies. Growing use of low-cost ECG services, the growing emphasis on the development of cost-effective healthcare devices, advancements in arrhythmia monitoring devices, rising incidences of cardiovascular diseases, favorable government policies especially for startup companies, and rising focus on healthcare cost containment are also propelling market growth.

On the contrary, complications related to such devices and rise in recalls of arrhythmia monitoring devices are factors that may impede the arrhythmia monitoring devices market growth over the forecast period.

Arrhythmia Monitoring Devices Market Segmentation

The MRFR report provides a complete segmental analysis of the arrhythmia monitoring devices market report on the basis of end user, application, and device type.

Based on device type, the arrhythmia monitoring devices market is segmented into mobile cardiac telemetry (MCT) devices, Holter monitor, implantable cardiac monitor (ICM), event monitor, resting ECG, and others. Of these, the Holter monitor segment will have the largest share in the market over the forecast period.

Based on application, the arrhythmia monitoring devices market is segmented into conduction disorders, premature ventricular contractions (PVC), ventricular fibrillation (V-fib), atrial fibrillation (A-fib), bradycardia, tachycardia, and others. Of these, the atrial fibrillation segment will dominate the market over the forecast period.

Based on end user, the arrhythmia monitoring devices market is segmented into ambulatory surgery centers (ASC), home care settings, diagnostic centers, hospitals and clinics, and others. Among these, hospitals and clinics will have the maximum share in the market over the forecast period.

Arrhythmia Monitoring Devices Market Regional Analysis

By region, the arrhythmia monitoring devices market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will lead the market over the forecast period. This is owing to growing awareness made by various private firms and government organizations and increasing prevalence of cardiac ailments.

The arrhythmia monitoring devices market in Europe is predicted to have the second-largest share in the market over the forecast period. This is on account of the growing prevalence of cardiac disorders in the region.

The arrhythmia monitoring devices market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is on account of the rising disposable income and developing healthcare infrastructure.

The arrhythmia monitoring devices market in the MEA will have a steady growth over the forecast period owing to limited access as well as healthcare affordability.

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Arrhythmia Monitoring Devices Market Key Players

Leading players profiled in the arrhythmia monitoring devices market report include Spacelabs Healthcare (US), Fukuda Denshi Co. Ltd (Japan), Nihon Kohden Corporation (Japan), Alive Cor, Inc. (US), Applied Cardiac Systems, Inc. (US), BioTelemetry, Inc. (US), GE Healthcare (US), Medtronic plc (Ireland), Abbott Laboratories (US), and Biotronik (Germany). Key players are incorporating different strategies to create a niche in the market, such as collaboration, mergers and agreements, partnerships, product innovations, product launches, and others.

May 2019: Abbot has launched a smarter, new heart monitor, Confirm Rx ICM (insertable cardiac monitor) for better detection of an arrhythmia. This paperclip-sized implantable device combines remote monitoring and smartphone connectivity for tracking unpredictable heart rhythms for accurate and fast diagnosis. This is the only ICM till date that syncs to the Smartphone through a Bluetooth and right away transmits to the doctor the needed information for quickly identifying irregular heartbeats. This mobile app will help to eliminate the requirement for an extra transmitter. Above all, this health technology is user-friendly and translated into about 40 languages.

Swapna Supekar is a seasoned digital marketing professional, She believes in continuous learning, considering that the digital marketing sector’s rapidly evolving nature.