Cardiovascular Devices Segment to Lead Cardiac Monitoring Devices Market During 2021-2028

According to our latest study on "Cardiac Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Product Type, Application and End User," the market is expected to grow from US$ 10,523.79 million in 2021 to US$ 16,431.31 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2021 to 2028. The report highlights the key factors and trends impacting the market and focuses on prominent players and their strategies.

A cardiac event monitor is a device used to record the heart's electrical activity (ECG). It keeps track of the heartbeat and rhythm. When there is a need for long-term monitoring of symptoms that don't happen every day, cardiac event monitors are employed. Important heart health data can be tracked, recorded, and sent to the doctor using a cardiac monitoring gadget, which reduces the need for frequent visits to the doctor's office, allowing the care team to monitor heart health from a distance. The increase in the incidence of cardiovascular diseases, rise in the surge in geriatric population base, and rise in the number of product launches and approvals propel the cardiac monitoring devices market growth. However, the risk of associated cybersecurity vulnerabilities challenges limits the market growth.

Based on type, the cardiac monitoring devices market is segmented into cardiovascular devices, patient monitoring devices, multi-parameter ECG monitors, cardiac monitors, ambulatory cardiac monitoring, and others. The cardiovascular devices segment held the largest market share in 2021. However, the patient monitoring devices segment is anticipated to register the highest CAGR during the forecast period. According to the American Heart Association, almost half of the adult population in the US have a type of CVD. Furthermore, more than 130 million people of the US population are expected to have a type of CVD by 2035. Additionally, according to the Centers for Diseases Control and Prevention, about 655,000 Americans die from heart disease every year. To prevent death due to CVDs, a cardiovascular device used in the cardiac care department is available in general hospitals.

A variety of cardiac care equipment used in cardiovascular intensive care (CICU), includes cardiac monitors, stress test systems, EKG (Electrocardiogram) equipment, heart-lung bypass machines, intra-aortic balloon pumps, automated external defibrillators (AEDs), infusion pumps, and defibrillators.

Medtronic; Abbott; Boston Scientific Corporation; iRhythm Technologies, Inc.; GE Healthcare; Biotronik, Inc.; SCHILLER Healthcare India Pvt. Ltd; Koninklijke Philips N.V.; MicroPort Scientific Corporation; Asahi Kasei Corporation; Hill-Rom Holdings, Inc.; Nihon Kohden Corporation; AliveCor, Inc; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; ACS Diagnostics; BTL; Hemodynamics Company LLC; Mortara Instruments; LivaNova PLC; TZ Medical; Amiitalia; RHYTHMEDIX; and Medi-Lynx Cardiac Monitoring, LLC; are the key players operating in the cardiac monitoring devices market.

The report segments the cardiac monitoring devices market as follows:

The cardiac monitoring devices market is analyzed into type, product type, application, and end user. Based on type, the market is segmented into cardiovascular devices, patient monitoring devices, multi-parameter ECG monitors, cardiac monitors, ambulatory cardiac monitoring, and others. Based on product type, the cardiac monitoring devices market is segmented into the standard monitor, portable monitor, and smart wearable monitor. Based on application, the cardiac monitoring devices market is segmented into coronary heart diseases, stroke, sudden cardiac arrest, arrhythmia, heart failure, pulmonary hypertension, congenital heart diseases, pulmonary artery pressure (PA), heart function (HF/LVEDP), and others. Based on end user, the cardiac monitoring devices market is segmented into hospitals, clinics, ambulatory surgery centers, cardiac centers, home care, and others. By geography, the market is segmented into North America (the US, Canada, and Mexico).

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