Global cardiac monitoring and cardiac rhythm management devices market

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 Insights

Cardiac Monitoring and Cardiac Rhythm Management Devices Market size was valued at USD 18.8 Billion in 2023 and is poised to grow from USD 19.83 Billion in 2024 to USD 32.81 Billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).

The cardiac rhythm management device helps patients with irregular heart rates and rhythm disorders maintain a normal cardiac rhythm, while the cardiac monitoring equipment assists in the observation of the patient's cardiac activity. Among the most common conditions treated with these devices are heart failure, atrial flutter, atrial fibrillation, an indication of a recent heart attack, a lack of oxygen delivery to cardiac muscle, and some genetic defects. The market's expansion can be attributed to a variety of factors, including an increase in the number of unmet medical needs in both developed and developing nations, a shift in lifestyles, technological advancements in cardiac devices, increased awareness of cardiac disorders, healthcare programs, and technological advancements in cardiac devices. However, new MRI-labeled devices and the expansion of the Asia-Pacific economy are anticipated to propel the cardiac monitoring device market during the forecast period.

Important risk factors for the Cardiac Monitoring and Cardiac Rhythm Management Device Market include age, ethnicity, and family history. Risk factors include smoking, high cholesterol, high blood pressure (hypertension), obesity, inactivity, diabetes, poor diet, and alcohol consumption. As a result of lifestyle changes, diseases like hypertension, diabetes, dyslipidemia, and obesity have become more common. This has led to an increase in the use of cardiac monitoring and cardiac rhythm management devices all over the world.

US Cardiac Monitoring and Cardiac Rhythm Management Devices Market is poised to grow at a sustainable CAGR for the next forecast year.

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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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Global cardiac monitoring and cardiac rhythm management devices market

Report ID: SQMIG35A2212

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