The global cardiac rhythm remote monitoring devices market is on an upward trajectory, poised to exceed a valuation of USD 4,782.1 million in 2023 and soar to an impressive USD 7,985.6 million by 2033. This remarkable growth is attributed to a projected Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2033, according to industry insights.
In recent years, there has been a notable surge in the utilization of telehealth and telemedicine services. Central to the efficacy of these services are remote monitoring devices, which enable healthcare professionals to remotely assess patients’ cardiac conditions, deliver timely consultations, and adjust treatment strategies as needed. The increasing adoption of remote monitoring devices is propelled by the accessibility and convenience offered by telehealth services.
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“As healthcare continues to evolve, the integration of remote monitoring devices into telehealth practices is becoming increasingly indispensable,” remarked FMI. “These devices not only empower healthcare providers with real-time insights into patients’ cardiac health but also enhance patient outcomes by facilitating proactive intervention and personalized care.”
The convergence of healthcare and technology is revolutionizing patient care, transcending geographical barriers and empowering individuals to take charge of their health remotely. With the global cardiac rhythm remote monitoring devices market poised for substantial growth, stakeholders across the healthcare continuum are poised to harness the potential of telehealth to drive positive patient outcomes and enhance healthcare delivery worldwide.
Key Takeaways from Cardiac rhythm remote monitoring devices industry Report:
- In 2018, the global market size stood at USD 3,618.7 million.
- The market expanded at a CAGR of 4.7% from 2018 to 2022.
- In 2022, the global market size stood at USD 4,554.5 million.
- The non-portable modality segment captured 63.8% of global market shares in 2022.
- The hospital end-user segment acquired 57.8% of global market shares in 2022.
- India captured 4.9% of global market shares in 2022.
- The United States captured 32.9% of global market shares in 2022.
- China captured 6.3% of global market shares in 2022.
- The United Kingdom captured 4.4% of global market shares in 2022.
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Recent Developments Observed by FMI:
- Medtronic announced the regulatory clearance and launch of the Micra AV Transcatheter Pacing System in Japan in January 2022. It is the first leadless peacemaker ever, the Micra TPS.
- In November 2021, India Medtronic Private Limited unveiled a cryoballoon catheter that has been approved by CDSCO for the treatment of atrial fibrillation (AF) in India.
- In February 2021, Siemens Healthineers introduced the Corindus CorPath GRX Robotic System in India for use in coronary and peripheral vascular treatments.
- To change cardiac diagnostics utilizing cloud computing and artificial intelligence (AI), Cardiology, a medical technology startup, inked a contract to be acquired by Philips Healthcare in November 2021. It is anticipated that the company’s product line of cardiac monitoring and diagnostics devices would expand as a result of this acquisition.
Key Players in the Global Market:
- Medtronic Plc.
- GE Healthcare
- Boston Scientific Corporation
- Philips Healthcare
- St. Jude Medical Inc.
- BIOTRONIK SE & Co. KG
- Nihon Koden
- OSYPKA
- Honeywell International
- Abbott Laboratories
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Cardiac Rhythm Remote Monitoring Devices Industry Segmentation:
By Product Type:
- Implantable Cardioverter Defibrillator (ICD) Devices
- Implantable Defibrillator, External Defibrillator
- Manual External Defibrillator
- Automated External Defibrillator
- Cardiac Resynchronization Therapy (CRT) Devices
- Implantable Cardiac Monitors (ICMs)
- Implanted Hemodynamic Monitor
By Modality:
- Portable Devices
- Non-portable Devices
By End-user:
- Long-term Care Centers
- Specialized Clinics
- Hospitals
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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