Cardiac Monitoring And Cardiac Rhythm Management Market Expected Highest Growth of USD 48.9 Billion By 2027 | Grand View Research, Inc.

July 31 01:58 2020
Cardiac Monitoring And Cardiac Rhythm Management Market Expected Highest Growth of USD 48.9 Billion By 2027 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Rising incidence of cardiovascular disorders, treatment costs of cardiac diseases, increasing use of ambulatory and home services, favorable government regulation, and technological advancements are the vital drivers for this market for cardiac monitoring and cardiac rhythm management.

According to a report, “Cardiac Monitoring And Cardiac Rhythm Management Market Size, Share & Trends Analysis Report By Product (CMD (ECG, Event Monitors), CRM (Pacemakers, Defibrillators)), By End Use, By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc., The global cardiac monitoring and cardiac rhythm management market size is expected to reach USD 48.9 billion by 2027, expanding at a CAGR of 6.5%, according to a new report by Grand View Research, Inc. Increasing incidence of cardiovascular diseases and advancement in medical devices is driving the market. 

Cardiovascular diseases (CVDs) are considered to be the number one cause of deaths in the world annually, i. e. more people die of CVDs annually than any other cause. CVD is a general term used for the conditions affecting the heart or blood vessels. It is commonly caused due to deposits of fatty molecules in the arteries which leads to increased risk of blood clots. It is also associated with damage to arteries in organs such as the brain, heart, kidneys and eyes. These diseases include coronary heart disease (CHD), ischaemic heart disease (IHD), Peripheral artery disease and Aortic disease among others. Increasing sedentary lifestyle adoption due to jobs and negligence towards exercise is one of the major cause of CVDs among adults.

According to the CDC, the prevalence of cardiovascular diseases and the number of deaths has remained steady with almost 31.0% of the population dying due to such diseases in 2017. Moreover, the rising cases of obesity not only in the adult section but also in the children is a major cause of concern, pushing the increasing usage of cardiac monitoring and cardiac rhythm management devices. Along with this, innovation in the types of devices is also improves the demand for the products as it is considered to be playing a crucial role in helping the patient recover. There are multiple types of products, such as :

Cardiac monitoring devices

  • ECG

  • Event Monitors

  • Implantable Loop Recorders

  • Echocardiogram

  • Mobile Cardiac Telemetry

Cardiac rhythm management devices

  • Pacemakers 

  • Defibrillators

    • Implantable Cardioverter Defibrillators (ICD)

    • External Defibrillator

  • Cardiac Resynchronization Therapy (CRT)

    • CRT-Defibrillator

    • CRT-Pacemakers

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COVID-19 has made healthcare market gain quite a big demand from all around. It has raised the concerns in the CVDs patient as COVID-19 infection raises complication in the patients. The European Society of Cardiology on 21st April 2020, suggested that CVD patients are expected to show vulnerability in case of COVID-19 infection. This pandemic has pushed the demand in the cardiac monitoring and cardiac rhythm management market and is expected to continue doing so for some upcoming months, until the curve declines.

U.S. cardiac monitoring and cardiac rhythm management market size

Further key findings from the study suggest:

  • In terms of revenue, CRM devices dominated the market in 2019. The growth can be attributed to the growing demand for minimally invasive surgeries and advancement in CRM devices

  • On the basis of end-use, hospitals held the largest revenue share in 2019 owing to increased patient footfall due to increasing cases of cardiovascular disorders

Major Key Players:

  • Stryker Corporation

  • Schiller

  • Medtronic

  • Abbott

  • Boston Scientific Corporation

  • Koninklijke Philips N.V.

  • Zoll Medical Corporation

  • BIOTRONIK

  • GE Healthcare

  • Microport Scientific Corporation

  • Hill-Rom Holdings

  • Nihon Kohden Corporation

  • Biotelemetry

  • Spacelabs healthcare

Some Recent Developments:

  • In April 2019, Stryker has launched the company’s newest defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINKcentral AED program manager, in the United States. The company has announced that the LIFEPAK CR2 automated external defibrillator (AED) has received Premarket Approval (PMA) by FDA. The LIFPAK CR2 AED was previously released in Europe and Canada in 2017, and in Japan in 2018.  The LIFEPAK CR2 is designed to help rescuers provide higher quality CPR and to provide the fastest first shock when defibrillation is needed. Everything about it is designed to increase user confidence. The LIFEPAK CR2 harnesses the benefits of connectivity to provide a foundation for better care throughout the entire chain of survival and to simplify AED program management for customers.

  • In February 2019, Schiller launches the Holter ECG device MEDILOG AR.

  • With a recording time of up to 14 days and atrial fibrillation/atrial flutter detection in zero seconds, this Holter is the      must-have for discerning and cost-conscious practitioners.
  • On 1st May 2020, Medilog became part of the SCHILLER group. Medilog will be SCHILLER’s high-end Holter system. Medilog’s additional products are an ideal complement to SCHILLER’s present product range. The SCHILLER group very much looks forward to the coming co-operation. The SCHILLER group, with its leading position on the world market, will make every effort to further boost Medilog’s success. It is already certain, that the Medilog brand name will remain. Medilog will become SCHILLER’s high-end Holter system.

End-use Insights

The hospital segment dominated the market and held the highest revenue share of 61.0% in 2019. Hospitals provide optimal care for patients suffering from CVD and enable early diagnosis, thus witnessing tremendous growth. According to the American Heart Association, 209,000 patients suffered from in-hospital cardiac arrest in the U.S in 2016, and this number is expected to rise to more than 23.6 million by 2030.

Global Cardiac monitoring and cardiac rhythm managementmarket share

The home health care segment is expected to be the fastest-growing sub-segment in the cardiac monitoring and cardiac rhythm management market over the forecast period owing to its cost-effectiveness and ease of treatment. Technological advancements and miniaturization of products are boosting the demand for home healthcare devices. Furthermore, increasing the target population, growing demand to curb the healthcare expenditure, and high incidence of target diseases are expected to be some of the high-impact rendering drivers for home healthcare devices. 

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Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

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