Cardiac Arrhythmia Monitoring Devices Market Report 2024 - Size, Share

Report Overview

The cardiac arrhythmia monitoring devices market is expected to reach USD 14.35 billion by 2024, according to a new report by Grand View Research, Inc. This growth is attributed to the rising prevalence of cardiovascular diseases, increasing adoption of advanced monitoring technologies, and growing demand for remote patient monitoring solutions.

Cardiac arrhythmias are abnormal heart rhythms that can lead to serious health complications, including stroke, heart failure, and sudden cardiac arrest. Cardiac arrhythmia monitoring devices are used to detect and diagnose these arrhythmias, enabling timely intervention and treatment.

Key Findings

• The global cardiac arrhythmia monitoring devices market size was valued at USD 8.59 billion in 2016 and is projected to expand at a CAGR of 7.4% from 2017 to 2024.
• North America accounted for the largest share of the market in 2016, and is expected to maintain its dominance throughout the forecast period.
• The adoption of advanced monitoring technologies, such as wearable devices and remote patient monitoring systems, is expected to drive market growth.
• The increasing prevalence of cardiovascular diseases, particularly among the aging population, is expected to fuel the demand for cardiac arrhythmia monitoring devices.

Market Segmentation

The cardiac arrhythmia monitoring devices market is segmented based on product type, application, end-use setting, and region.

Product Type

The product type segment includes:

• Holter monitors
• Event recorders
• Implantable loop recorders
• Telemetry monitors
• Wearable devices

Application

The application segment includes:

• Arrhythmia detection
• Arrhythmia diagnosis
• Arrhythmia management
• Arrhythmia prevention
• Arrhythmia research

End-Use Setting

The end-use setting segment includes:

• Hospitals
• Clinics
• Ambulatory surgical centers
• Home healthcare settings
• Other settings

Region

The regional segment includes:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The cardiac arrhythmia monitoring devices market is highly competitive, with a number of key players operating in the market. The major players in the market include:

• Abbott Laboratories
• Boston Scientific Corporation
• CardioDx, Inc.
• GE Healthcare
• Medtronic plc
• Philips Healthcare
• Siemens Healthineers
• St. Jude Medical, Inc.
• Welch Allyn, Inc.
• Zephyr Technology Corporation

Key Developments

Key developments in the cardiac arrhythmia monitoring devices market include the following:

• In October 2016, Abbott Laboratories received FDA approval for its new wireless cardiac arrhythmia monitoring device, the Confirm Rx Implantable Cardiac Monitor.
• In September 2016, Medtronic plc launched its new Reveal LINQ Insertable Cardiac Monitor, which is the smallest implantable cardiac monitor on the market.
• In June 2016, Philips Healthcare introduced its new HeartStart Event Monitor, which is a wireless, wearable event recorder that can be used to detect and diagnose arrhythmias.

Future Outlook

The future outlook for the cardiac arrhythmia monitoring devices market is positive, with growth expected to continue over the next several years. The rising prevalence of cardiovascular diseases, increasing adoption of advanced monitoring technologies, and growing demand for remote patient monitoring solutions are expected to drive market growth.