The global devices market is expected to reach US$ 43,334.36 million by 2028 from US$ 28,098.08 million in 2021; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.

The factors responsible for the cardiac monitoring devices market's growth are an increase in the incidence of cardiovascular diseases, a rise in the surge in the geriatric population base, and a rise in product launches and approvals. However, the risk of associated cybersecurity vulnerabilities and privacy issues hamper the cardiac monitoring devices market growth.

A cardiac event monitor is a device used to record the heart's electrical activity (ECG) and keeps track of the heartbeat and rhythm., Cardiac event monitors are used when there is a need for long-term monitoring of symptoms that do not happen daily. Important heart health data can be tracked, recorded, and sent to patients' doctors using a cardiac monitoring gadget, which reduces the need for frequent visits to the doctor's office, allowing the care team to monitor patients' heart health from a distance.

In the last decade, the world witnessed notable developments in cardiac monitoring devices, offering physicians and patients new approaches to manage many diseases, including atrial arrhythmias, ventricular arrhythmias, and ventricular atrial fibrillation. The growing prevalence of cardiovascular diseases (CVDs) such as coronary heart diseases, sudden cardiac arrest, congenital heart diseases, heart failure, pulmonary hypertension, and pulmonary artery pressure (PA) encourages improved monitoring methods. The simplicity of use and the ability to detect cardiovascular diseases (CVDs) quickly are the factors adding to the popularity of cardiac monitoring devices. According to the World Health Organization (WHO), ~30 million people experience a stroke each year. Moreover, the American Heart Association states that more than 130 million people in the US are projected to have CVD by 2035.

The WHO estimates 17.9 million lives are lost due to CVDs every year, i.e., 32% of the total deaths reported globally. A few of the primary risk factors of CVDs include family history, ethnicity, and age; other risk factors include tobacco consumption, hypertension, obesity, high cholesterol, physical inactivity, diabetes, unhealthy diets, and alcohol consumption. Further, lifestyle changes lead to the rise in diabetes, hypertension, dyslipidemia, and obesity, contributing to a surge in CVD cases worldwide. Most CVD cases can be prevented through proactive monitoring and early diagnosis, which bolsters the need for cardiac monitoring devices.

Type Insights

Based on type, the global cardiac monitoring devices market is segmented into cardiovascular devices, multi-parameter ECG monitors, patient monitoring devices, ambulatory cardiac monitoring, and cardiac monitors. In 2020, the cardiovascular devices segment held the largest share of the cardiac monitoring devices market. However, the cardiac monitoring devices market for the patient monitoring devices segment is expected to grow at the highest CAGR from 2021 to 2028. Patient monitoring devices are increasing with a growing number of chronic disorders such as stroke, coronary heart disease, sudden cardiac arrest, congenital heart diseases, and other cardiovascular diseases. Temperature monitoring, continuous glucose monitoring, and pulsed oximetry blood pressure monitoring are several applications for wearable patient monitoring, biosensors, and smart implants. The surge in demand for the vital parameters monitors is bolstering this segment's growth.

Product Type Insights

Based on product type, the global monitoring devices market is segmented into portable monitor, smart wearable monitor, standard monitor. In 2020, the standard monitor segment held the largest share of the market. However, the cardiac monitoring devices market for the smart wearable monitor segment is expected to grow at the highest CAGR from 2021 to 2028. Poly(methyl methacrylate) (PMMA) is a plastic with excellent mechanical properties and minimal toxicity. Technological advancements penetrate our daily lives, and a growing trend encourages the usage of commercial smart wearable monitors for health management. In the era of remote, increasingly personalized patient care catalyzed by the COVID-19 pandemic, the cardiovascular community is demanding wearable technologies for the need and their wide range of clinical applications. Thus, the rising surge in demand for the smart wearable monitor is bolstering this segment's growth.

Application Insights

Based on application, the global cardiac monitoring devices market is segmented into coronary heart diseases, sudden cardiac arrest, stroke, arrhythmia, congenital heart diseases, heart failure, pulmonary hypertension, heart function (HF/LVEDP), pulmonary artery pressure (PA), and others. The coronary heart diseases segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the cardiac monitoring devices market by 2028. The high prevalence and increased global mortality of chronic diseases such as diabetes, hypertension, and cholesterol levels, which increase the risk of suffering from cardiovascular disease, accelerate the number of coronary heart disease cases.

End User Insights

Based on end user, the global cardiac monitoring devices market is segmented into hospitals, ambulatory surgery centers (ASCs), and clinics. The hospitals segment held the largest market share in 2020, and is further expected to be the largest shareholder by 2028. The growth of the segments is attributed to the growing number of cases of cardiovascular diseases. Hospitals are the primary healthcare centers where cardiovascular diseases such as coronary heart diseases, stroke, sudden cardiac arrest, arrhythmia are extensively treated, thereby bolstering segment growth.

A few major primary and secondary sources were referred to while preparing the report on the global World Health Organization (WHO), American Heart Association, Centers for Diseases Control and Prevention, World Heart Federation, National Center for Biotechnology Information (NCBI).