What is the global market size of Cardiac Monitoring and Cardiac Rhythm Management Devices Market?

Global Cardiac Monitoring and Cardiac Rhythm Management Devices Market size was valued at USD 17.82 billion in 2021 and is poised to grow from USD 18.8 billion in 2022 to USD 31.1 billion by 2030, growing at a CAGR of 5.5% in the forecast period (2023-2030).

Cardiac Monitoring And Cardiac Rhythm Management Devices Market Size, Share, Growth Analysis, By Cardiac Monitoring Devices Type (ECG Devices, Resting ECG Devices), By Cardiac Rhythm Management Devices Type (Defibrillators, Implantable Cardioverter Defibrillators), By Procedure (Invasive Procedures, Non-Invasive Procedures), By Application, By End User, By Region - Industry Forecast 2025-2032

Report ID: SQMIG35A2212 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 62 | Figures: 75

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Dynamics

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Drivers

Increasing Cases of Cardiac Cases to Bolster Market Growth

The key factors driving this market for cardiac monitoring and cardiac rhythm management devices include increasing prevalence of cardiovascular problems, rising expenses of treating cardiac diseases, rising use of ambulatory and home services, favorable government regulation, and technical improvements. The market for cardiac monitoring and cardiac rhythm management devices is being driven by the development of cutting-edge cardiac devices including MRI pacemakers, subcutaneous ICDs, and Automated External Defibrillators (AEDs). In the United States, cardiovascular diseases (CVDs) constitute a leading cause of death. According to the WHO, CVDs are thought to be the cause of one-fourth of all fatalities.

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Restraints

High Price to Hinder Market Growth

The market expansion is constrained by the exorbitant price of these devices and limited insurance coverage.

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Report Snapshots

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Global Cardiac Monitoring And Cardiac Rhythm Management Devices Market size was valued at USD 21.2 billion in 2022 and is poised to grow from USD 22.15 billion in 2023 to USD 31.51 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2024-2031).

There are a lot of large and medium-sized players in the global market for cardiac monitoring and cardiac rhythm management devices, which is fairly fragmented. Major players are employing a variety of strategies, concluding strategic agreements and contracts, entering into mergers and acquisitions, and developing and introducing more efficient devices. 'Biotronik SE & Co. KG ', 'Medtronic ', 'Boston Scientific ', 'Abbott Laboratories ', 'GE Healthcare ', 'Philips Healthcare ', 'Nihon Kohden ', 'Schiller ', 'Edwards Lifesciences ', 'Spacelabs Healthcare ', 'OSI Systems ', 'Mindray Medical ', 'Fukuda Denshi ', 'Innomed Medical ', 'Biotronik ', 'Progetti Srl ', 'Zoll Medical Corporation ', 'LivaNova Plc ', 'Osypka AG ', 'Alivecor, Inc. '

The key factors driving this market for cardiac monitoring and cardiac rhythm management devices include increasing prevalence of cardiovascular problems, rising expenses of treating cardiac diseases, rising use of ambulatory and home services, favorable government regulation, and technical improvements. The market for cardiac monitoring and cardiac rhythm management devices is being driven by the development of cutting-edge cardiac devices including MRI pacemakers, subcutaneous ICDs, and Automated External Defibrillators (AEDs). In the United States, cardiovascular diseases (CVDs) constitute a leading cause of death. According to the WHO, CVDs are thought to be the cause of one-fourth of all fatalities.

Today's cardiac rhythm management (CRM) devices are becoming more important for more than just monitoring and managing cardiac issues. They are also helping to restore, repair, and heal. Over the past few decades, the use of CRM devices has significantly increased as a result of rising life expectancy and ongoing technological advancements that have broadened their capabilities. Leading biotech companies have also made significant contributions to the field's R&D.

North America will dominate the global cardiac monitoring and cardiac rhythm management device market during the forecast period. The most common type of heart disease, coronary artery disease, affects 382,820 people in the United States, and approximately 805,000 Americans suffer from heart attacks annually.Another important factor driving market revenue growth is the presence of key players like Medtronic, Abbott, and General Electric Company, among others.

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Cardiac Monitoring and Cardiac Rhythm Management Devices Market Dynamics

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Report Snapshots

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What is the global market size of Cardiac Monitoring and Cardiac Rhythm Management Devices Market?

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