As per Future Market Insights’ latest industry analysis, the valuation for the global Cardiac Ambulatory Monitoring Market was around US$ 13.3 Billion in 2021 and is projected to exhibit a CAGR close to 4.5% over the forecast period, with an estimated valuation of US$ 21.6 Billion by 2032.
The global market for cardiac ambulatory monitoring devices is anticipated to be primarily driven by the rising number of heart-related problems due to factors including obesity rates, diabetes mellitus, smoking, high blood cholesterol, blood pressure, and unhealthy lifestyles.
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During the projected period, the global market is anticipated to be driven by the steadily rising use of cardiac ambulatory monitoring devices for the treatment of cardiac arrhythmia and other cardiac disorders. Cardiac ambulatory monitors can be used both inside and externally. For instance, implantable loop recorders with a three-year battery life can be placed transdermal. As a result, the electrical activity of the heart is continuously monitored.
Due to the rapid advancement of technology, rising rates of cardiovascular disorders around the world, and an aging population, the market for cardiac ambulatory monitoring is growing at a rapid rate. The market for cardiac ambulatory monitoring devices is anticipated to grow significantly over the next few years as a result of improvements in technology and innovations in cardiac ambulatory monitoring devices.
As cardiac ambulatory monitoring devices are not reaching the customer at their full potential due to associated side effects and the pricey nature of the devices, companies are introducing portable cardiac ambulatory monitoring devices at reasonable costs, and this might significantly improve the usability and adoption of cardiac ambulatory monitoring devices.
Manufacturers releasing products like portable/wearable gadgets with cutting-edge features like Bluetooth connectivity, integral ECG monitors, fitness trackers, and other numerous functions, will help in growing sales of the devices, as a result, the cardiac ambulatory monitoring market will expand during the forecast period.
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Key Takeaways from Market Study
- ECG devices are the leading segment as a product and hold approximately 42.2% market share in 2021. Owing to their lower pricing, these devices can also be utilized in medical operations, along with a variety of other cardiac diagnostic tests, telemetry monitoring equipment, and other tools.
- Hospitals are the leading segment as end users, and held about 35.0% market share in 2021, due to the rising incidence of CVDs, the rising number of hospital visits, and the rising number of cardiac device implantation procedures.
- By region, North America is leading the global cardiac ambulatory monitoring market and is expected to continue to do so with a projected CAGR of 4.4% during the forecasted years.
- The region of Europe is slated to be the second dominant segment in terms of growth, holding a market share of around 25.6% in the global cardiac ambulatory monitoring market, in 2021.
“Rising initiatives to promote a healthy lifestyle, as well as the increasing awareness about the cardiac monitoring devices is set to propel the sales of cardiac ambulatory monitoring devices across the globe,” says an analyst of Future Market Insights.
Market Competition
Major manufacturers concentrate on a range of strategic goals, including regional growth, product development, and strategic alliances and partnerships. For quick and simple diagnosis, new portable monitoring devices are being introduced for heart activity monitoring.
- Boston Scientific Corporation stated in January 2021 that it has acquired Preventice Solutions Inc. to provide ambulatory cardiac monitors (including short- and long-term Holter monitors), cardiac event monitors, and MCT.
- In order to increase the production of AEDs for cardiac monitoring and provide related services and accessories, ZOLL Medical Corporation announced in August 2019 that it has acquired Cardiac Science Corporation.
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What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the cardiac ambulatory monitoring market in its latest study, presenting a historical demand assessment of 2015 – 2021 and projections for 2022 – 2032.
The research study is based on the product – (ECG devices, Holter monitors, event monitors, implantable loop recorders, and mobile cardiac telemetry), and end-user (hospitals, ambulatory care centers, specialty clinics, cardiac care centers, and home care setting), across seven regions of the world.
Key Companies Profiled:
- Medtronic plc,
- Abbott Laboratories,
- Boston Scientific Corporation,
- GE Healthcare,
- iRhythm Technologies Inc,
- Biotronik, Schiller,
- Medicomp Inc.,
- Koninklijke Philips N.V.,
- Applied Cardiac System,
- MicroPort
Key Market Segments Covered in the Cardiac Ambulatory Monitoring Industry Research
By Product:
- ECG Devices
- Holter Monitors
- Event Monitors
- Implantable Loop Recorders
- Mobile Cardiac Telemetry
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By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Cardiac Care Centers
- Home Care Setting
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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