Cardiac Arrhythmia Monitoring Devices Market
Cardiac Arrhythmia Monitoring Devices Market Size, Share & Trends Analysis Report by Device Type (Event Monitoring Devices, Continuous Rhythm Monitoring Devices, and Holter Monitoring Devices), and by Service Provider (Mobile Cardiac Telemetry Monitoring Service Providers, Independent Diagnostic Testing Facilities/Clinics) Forecast Period (2024-2031)
Cardiac arrhythmia monitoring devices market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period. The growing incidence and prevalence of atrial fibrillation (AF) globally has driven the demand for cardiac arrhythmia monitoring devices thereby driving the global market growth. In the US alone, 3 to 6 million people have AF, and the numbers are projected to reach nearly 6 to 16 million by 2050. In Europe, prevalent AF in 2010 was nearly 9 million among individuals older than 55 years and is expected to reach 14 million by 2060. It was estimated that by 2050 AF will be diagnosed at least in 72 million individuals in Asia, with nearly 3 million with AF-related strokes. The geriatric population is highly at risk of having AF. According to the October 2021 report of the World Health Organization, the global population of people aged 60 years and more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050, which is expected to have a significant impact on the demand for home healthcare software market as older people are more dependent upon others for their care and other needs.
Estimated Number of People of age 60 Years or More (in Billion) in 2020 & 2050
Source: World Health Organization (WHO)
The growing geriatric population is further aiding to the demand for the global market. In January 2024, researchers from two Lithuanian universities have developed a patient-safe monitoring technology to identify and manage individual factors provoking atrial fibrillation. The technology is a result of a collaboration between Kaunas University of Technology Biomedical Engineering Institute (KTU BMEI) and Vilnius University (VU) Santaros Clinics. The ongoing researches in the field of AF monitoring devices are further aiding to the market development. The development of portable and easy to monitoring devices is anticipated to offer lucrative opportunities to the growth of the global market. The high cost of monitoring device may restrain their market growth.
Segmental Outlook
The global cardiac arrhythmia monitoring devices market is segmented based on device type, and service provider. Based on device type, the market is segmented into event monitoring devices, continuous rhythm monitoring devices, and Holter monitoring devices. Based on service providers, the market is segmented into mobile cardiac telemetry monitoring service providers, and independent diagnostic testing facilities/clinics.
Holter Monitoring Devices Anticipated to Exhibit Considerable Growth in the Global Cardiac Arrhythmia Monitoring Devices Market
The ability of these devices to be used for longer durations in diagnosing sporadic symptoms among patients is a key contributor to its growing market demand. They also offer faster and more convenient monitoring to increase patient compliance and enhance treatment outcomes. New product launches in this category are further aiding the growth of this market segment. For instance, in February 2021, RhythMedix launched a wearable cardiac monitor for arrhythmia detection. RhythMedix stated that the one-piece device is the first wearable multi-modality cardiac monitor offering Holter monitoring and connecting patients and clinicians for better patient care.
Regional Outlook
The global cardiac arrhythmia monitoring devices market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Asia-Pacific is anticipated to exhibit considerable growth in the global market.
Global Cardiac Arrhythmia Monitoring Devices Market Growth, by Region 2024-2031
North America Held a Major Share in the Global Market
The regional market share is attributed to the high prevalence of arrhythmia and the availability of advanced healthcare infrastructure. Atrial fibrillation, often called AFib or AF, is the most common type of treated heart arrhythmia. According to the Centers for Disease Control & Prevention, in 2019, 183,321 mortalities occurred in the US due to AFib. It is estimated that 12.1 million people in the US will have AFib in 2030. The easy availability of advanced monitoring devices along with high healthcare expenditure is further contributing to the regional market share.
Market Players Outlook
The major companies serving the global cardiac arrhythmia monitoring devices market include Abbott Laboratories, Medtronic PLC, ACSDiangostics, GE Healthcare, and Koninklijke Philips NV among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and advancement in their product offerings to stay competitive in the market. For instance, in October 2023, Boston Scientific received FDA clearance and launched its next-generation insertable cardiac monitor for long-term monitoring of arrhythmias associated with atrial fibrillation, cryptogenic stroke, and syncope. The system (LUX-Dx II+) is designed with algorithms to detect and verify arrhythmias before sending an alert to clinicians and allows patient care teams to adjust event detection settings remotely and record symptoms without in-person visits, according to a company email sent to Healio.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cardiac arrhythmia monitoring devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Abbott Laboratories
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. ACSDiagnostics
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. GE Healthcare
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Koninklijke Philips NV
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
4. Market Segmentation
4.1. Global Cardiac Arrhythmia Monitoring Devices Market by Device Type
4.1.1. Event Monitoring Devices
4.1.2. Continuous Rhythm Monitoring Devices
4.1.3. Holter Monitoring Devices
4.2. Global Cardiac Arrhythmia Monitoring Devices Market by Service Provider
4.2.1. Mobile Cardiac Telemetry Monitoring Service Providers
4.2.2. Independent Diagnostic Testing Facilities/Clinics
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. AliveCor Inc.
6.2. Applied Cardiac Systems
6.3. Biotricity
6.4. Biotronik
6.5. BPL Medical Technologies
6.6. Fukuda Denshi Co. Ltd.
6.7. HD Medical Inc.
6.8. HemoCath Ltd.
6.9. iRhythm Technologies Inc.
6.10. Medi-Lynx Cardiac Monitoring LLC
6.11. Medtronic PLC
6.12. Moving Analytics Inc.
6.13. Nihon Kohden Corp.
6.14. Progetti SRL
6.15. SpaceLabs Healthcare (OSI Systems, Inc.)
6.16. Spacelabs Healthcare Inc.
6.17. Welch Allyn, Inc.
1. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023-2031 ($ MILLION)
2. GLOBAL EVENT MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL CONTINUOUS RHYTHM MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL HOLTER MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023-2031 ($ MILLION)
6. GLOBAL MOBILE CARDIAC TELEMETRY MONITORING SERVICE PROVIDERS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBAL INDEPENDENT DIAGNOSTIC TESTING FACILITIES/CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. NORTH AMERICAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
10. NORTH AMERICAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023-2031 ($ MILLION)
11. NORTH AMERICAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023-2031 ($ MILLION)
12. EUROPEAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
13. EUROPEAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023-2031 ($ MILLION)
14. EUROPEAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023-2031 ($ MILLION)
15. ASIA-PACIFIC CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
16. ASIA-PACIFIC CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023-2031 ($ MILLION)
17. ASIA-PACIFIC CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023-2031 ($ MILLION)
18. REST OF THE WORLD CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
19. REST OF THE WORLD CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023-2031 ($ MILLION)
20. REST OF THE WORLD CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023-2031 ($ MILLION)
1. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY DEVICE TYPE, 2023 VS 2031 (%)
2. GLOBAL EVENT MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
3. GLOBAL CONTINUOUS RHYTHM MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
4. GLOBAL HOLTER MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
5. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY SERVICE PROVIDER, 2023 VS 2031 (%)
6. GLOBAL MOBILE CARDIAC TELEMETRY MONITORING SERVICE PROVIDERS MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
7. GLOBAL INDEPENDENT DIAGNOSTIC TESTING FACILITIES/CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
8. GLOBAL CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2023 VS 2031 (%)
9. US CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
10. CANADA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
11. UK CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
12. FRANCE CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
13. GERMANY CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
14. ITALY CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
15. SPAIN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
16. REST OF EUROPE CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
17. INDIA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
18. CHINA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
19. JAPAN CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
20. SOUTH KOREA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
21. REST OF ASIA-PACIFIC CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
22. LATIN AMERICA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
23. THE MIDDLE EAST AND AFRICA CARDIAC ARRHYTHMIA MONITORING DEVICES MARKET SIZE, 2023-2031 ($ MILLION)
