Cardiac Monitoring & Cardiac Rhythm Management Devices Market Worth USD 30 billion by 2030 - Exclusive Report by Growth Plus Reports

The global cardiac monitoring & cardiac rhythm management devices market has been analyzed from four different perspectives – Devices for Cardiac Monitoring, Devices for Cardiac Rhythm Management, End User, and Region.

Market Driver

According to a paper published in the Journal of the American College of Cardiology that examined the total magnitude of CVD burden and trends over 30 years worldwide, the number of people dying from cardiovascular disease (CVD) is steadily increasing, including one-third of all deaths globally in 2019.

The statistics highlight the urgent need for nations to set up public health initiatives that are both affordable and focused on lowering cardiovascular risk through modifiable behaviours. The leading cause of death worldwide, CVD—particularly ischemic heart disease and stroke—plays a significant role in disability and rising health care expenses. While the number of CVD deaths climbed consistently from 12.1 million in 1990 to 18.6 million in 2019, the prevalence of all CVD cases nearly doubled from 271 million to 523 million. Ischemic heart disease and stroke accounted for the majority of CVD fatalities worldwide in 2019, growing significantly since 1990. While YLDs doubled from 17.7 in 1990 to 34.4 million in 2019, the global trends for DALYs and YLLs also climbed dramatically. Hence the growing prevalence of cardiovascular diseases globally, is directly driving the demand for basic to advanced cardiac monitoring and cardiac rhythm management devices.

Excerpts from 'By Device Segmentation'

The global cardiac monitoring & cardiac rhythm management, the market has been segmented into pacemakers and defibrillators. Pacemakers are further bifurcated - by implantability [implantable pacemakers and external pacemakers] and by type [dual-chamber pacemakers, single-chamber pacemakers, and biventricular/CRT pacemakers].

Whereas, defibrillators are further categorized into implantable cardioverter defibrillators (ICD) [S-ICD and T-ICD] and external defibrillators [manual external defibrillator, automatic external defibrillator, and wearable cardioverter defibrillator]. In this segment, defibrillators are leading the market with technological advancement, precision, and sensitivity for cardiac disease diagnosis and treatment.  For instance, in November 2021, Vektor Medical received FDA clearance for vMAP: the first technology designed to identify arrhythmia anywhere in the heart within minutes by using ECG data. This technology does not require vests, CT or MRI imaging, or invasive mapping.

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Excerpts from 'By End User Segmentation'

The global cardiac monitoring & cardiac rhythm management devices market has been segmented majorly into three distinct categories depending on end user, viz. hospitals, clinics & cardiac specialty centers; home care settings; and ambulatory care centers.

The hospitals, clinics & cardiac specialty centers segment holds the largest share in the market in the cardiac monitoring & cardiac rhythm management devices market. The cardiac monitoring & cardiac rhythm management devices belong to the category of critical disease management which requires quick attention from hospital care and medical experts. Also, the growth of the segment can mainly be attributed to the growing number of patients visiting hospitals for prediagnosis of heart conditions, the increasing number of cardiac implantation procedures and rising adoption of cardiac monitoring devices in hospitals during the pandemic.

Excerpts from 'By Region Segmentation'

The global cardiac monitoring & cardiac rhythm management devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share in the global cardiac monitoring & cardiac rhythm management devices market, Factors such as the growing prevalence of cardiovascular diseases in the region are increasing geriatric population, developed infrastructure, rapid adoption of technologically advanced products and growing awareness among the patients can be attributed for the large share of the region in the global market. After North America, Asia Pacific Countries such as India, China, and Japan in the APAC region, are projected to offer significant growth opportunities owing to the increasing prevalence of cardiovascular diseases and rising geriatric population in the region, followed by Europe & Rest of the World (RoW).

Excerpts from 'Competitive Landscape'

The prominent players operating in the global cardiac monitoring & cardiac rhythm management devices market are:

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