Outlook on the World Cardiac Monitoring Market to 2024 - ECG Monitor Projected to Dominate
DUBLIN, July 18, 2019 /PRNewswire/ -- The "Global Cardiac Monitoring Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
Global cardiac monitoring market is driven by an increase in the prevalence of heart diseases, growing aging population who are very susceptible to the coronary heart diseases and technological developments in cardiac monitoring devices that minimizing the chances of infection and improved efficiency of devices.
Furthermore, cardiac monitoring is one of the most reliable and efficient options for the monitoring of various cardiac conditions. However, rising incidences of infection, high cost associated with the monitoring and stringent regulatory procedures may act as restraints for the growth of global cardiac monitoring market over the forecast period.
ECG Monitor to Dominate the Global Cardiac Monitoring Market
As there is an increase in the incidence of cardiovascular diseases (CVD), therein long-term ECG monitoring is necessary. Usually, this procedure is possible in hospitals. However, with the introduction of wireless ECG, the doctors can monitor and diagnose the patient remotely and on time.
There are two different types of ECG monitors available in the market such as Monitoring ECG Systems and Diagnostic ECG Systems. Development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, are anticipated to drive the popularity of ECG monitors segment globally.
Furthermore, technological advancements and product innovations taking place in the development of ECG devices which are likely to propel market growth. For example, in 2018, Qardio, Inc., has received the approval from Australia's Therapeutic Goods Administration (TGA) for QardioCore, its revolutionary ECG monitor.
North America Held the Largest Market Share in the Global Cardiac Monitoring Market
North American holds the leading position in the Cardiac Monitoring market. Especially US and Canada owing to a drastic increase in the patient pool of cardiovascular diseases. As per the report from the American Heart Association on heart disease and stroke, in 2017, over approximately 800,000 deaths occurred due to cardiovascular disease.
Furthermore, continuous advancements in the technology, growing awareness in patients about cardiac monitoring, well-established healthcare infrastructure, and favorable reimbursement policies are expected to boost the cardiac monitoring market in the North America region. For instance, In April 2019, Stryker has launched the company's newest defibrillation solution, the LIFEPAK CR2 defibrillator with LIFELINKcentral AED program manager, in the United States.
Competitive Landscape
Cardiac monitoring market is exceptionally fragmented and focused because of the presence of many large, medium, and small players. The multinational players possess a substantial share of the worldwide market.
The companies in the cardiac monitoring market are focusing on various growth strategies such to enhance their market presence such as M&A, partnerships, collaborations, geographical expansions, new product launches. For instance, In October 2017, Abbott has received U.S. Food and Drug Administration (FDA) clearance for the Confirm Rx Insertable Cardiac Monitor (ICM).
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidences of Cardiovascular Diseases
4.2.2 Advancements in the Technology
4.2.3 Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems
4.3 Market Restraints
4.3.1 Risk of Infection Due to Implantable Monitoring Devices
4.3.2 Unfavourable Reimbursement Policies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Device Type
5.1.1 ECG Monitor
5.1.2 Event Recorder
5.1.3 Implantable Cardiac Loop Recorder
5.1.4 Pacemaker
5.1.5 Defibrillator
5.1.6 Cardiac Resynchronization Therapy (CRT) Devices
5.1.7 Smart Wearable
5.1.8 Others
5.2 End Users
5.2.1 Hospitals & Clinics
5.2.2 Home Care Settings
5.2.3 Ambulatory Surgical Centers
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic
6.1.2 Abbott Laboratories
6.1.3 Boston Scientific Corporation
6.1.4 GE Healthcare
6.1.5 iRhythm Technologies Inc.
6.1.6 Biotronik
6.1.7 Livanova
6.1.8 Hill-Rom Holdings
6.1.9 Schiller
6.1.10 Biotelemetry
6.1.11 Applied Cardiac System
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