The cardiac monitoring & cardiac rhythm
management market is expected to be worth $XX
billion by 2025. The market is largely driven by factors such as rising
incidence of cardiovascular disorders along with technological advancements in
cardiac monitoring & cardiac rhythm management devices. According to a
report published by American Heart Association in 2017, around 92.1 million
American adults are living with some or other type of cardiovascular disease.
The estimated number of new heart attacks in U.S. is 580,000 with 210,000
incidences of recurrent attacks. Moreover, increasing geriatric
population around the world also contributes substantially to the market growth
as older adults are more susceptible to cardiovascular disorders such as
stroke, heart failure, congenital heart disease, angina, arrhythmia and
myocardial infarction. However, high cost of devices, inadequate insurance
coverage and more preference for drugs is expected to slow down growth of the
cardiac monitoring and rhythm management market.
Product Outlook and Trend Analysis
The electrocardiogram (ECG) devices segment held the major share of the
cardiac monitoring devices market in 2016 owing to their critical benefits in
detecting cardiac infarction, coronary vessel diseases, lack or abundance of
certain minerals and their influence on impulse conduction and atrial
fibrillation or atrial flutter. Event monitors segment is expected to grow with
the fastest growth rate during the forecast period owing to their small size
and light weight which makes them convenient to be carried to the patient’s site.
The defibrillators segment is expected to hold the largest share of the cardiac
rhythm management market during the forecast period owing to large scale
adoption of defibrillators around the world along with rising incidence of
sudden heart attacks (SCA).
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Product Outlook and Trend Analysis
The electrocardiogram (ECG) devices segment held the major share of the
cardiac monitoring devices market in 2016 owing to their critical benefits in
detecting cardiac infarction, coronary vessel diseases, lack or abundance of
certain minerals and their influence on impulse conduction and atrial fibrillation
or atrial flutter. Event monitors segment is expected to grow with the fastest
growth rate during the forecast period owing to their small size and light
weight which makes them convenient to be carried to the patient’s site. The
defibrillators segment is expected to hold the largest share of the cardiac
rhythm management market during the forecast period owing to large scale
adoption of defibrillators around the world along with rising incidence of
sudden heart attacks (SCA).
End User Outlook and
Trend Analysis
Hospitals and clinics segment accounted for the majority
share of the overall market in 2016 due to the large scale adoption of cardiac
monitoring & cardiac rhythm management devices in hospital settings to
treat patients suffering from acute and chronic cardiovascular diseases.
Ambulatory surgical centers segment is expected to witness fastest growth
during the forecast period due to the advent of advanced devices which enable
cost effective cardiac monitoring and management as compared to hospital based
treatment.
Competitive Insights
The major players operating
in the global cardiac monitoring &
cardiac rhythm management market emphasize on product development in order to
introduce advanced products in accordance with the changing needs and demands
of the market. For instance, in May 2017, Abbott Laboratories announced the CE
Mark and first use of its new Confirm Rx Insertable Cardiac Monitor (ICM). It
is the world’s first ICM that is compatible with a smartphone which will help
physicians in detecting cardiac arrhythmias including atrial fibrillation.
Some
of the key players operating in the cardiac monitoring & cardiac rhythm
management market are
·
Abiomed
·
Berlin Heart GmbH
·
BIOTRONIK SE & Co.
KG
·
Boston Scientific
Corporation
·
Koninklijke Philips N.V.
·
Cardiac Science
Corporation
·
General Electric Company
·
LivaNova PLC, Medtronic
plc
·
Nihon Kohden Corporation
·
ReliantHeart Inc.
·
Schiller AG
·
St. Jude Medical, LLC.
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Market
Opportunities
The key opportunity for the players operating in
cardiac monitoring & cardiac rhythm management market lies in the
development of technologically advanced products which deliver enhanced value
to the patients suffering from cardiovascular diseases. Also, miniaturization
of products has been a growing trend in the market which largely improves the
convenience of use of cardiac monitoring and rhythm management devices. With
increasing disposable income in the emerging markets with prevalence of unmet
medical needs, market players can largely benefit by expanding distribution to
such markets and secure competitive advantage.
Table of Contents
1.Introduction
1.1.Report Description
1.2.Research Methodology
2.Executive Summary
2.1.Key Highlights
3.Market Overview
3.1.Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2.Market Share Analysis
3.3.Market Dynamics
3.3.1. Drivers
3.3.1.1.Increasing Incidence of
Cardiovascular Diseases Globally
3.3.1.2.Increasing Geriatric
Population Worldwide
3.3.1.3.Technological
Advancements in Cardiac Monitoring & Cardiac Rhythm Management Devices
3.3.1.4.Increasing Patient
Awareness towards Cardiovascular Diseases
3.3.2. Restraints
3.3.2.1.High Cost of Devices
3.3.2.2.Inadequate Insurance
Coverage
3.3.2.3.More Preference towards
Drugs by Patients
3.3.3. Opportunities
3.3.3.1.Emerging Markets to Offer
Lucrative Growth Opportunities
3.4.Industry Trends
About Crystal Market Research
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