Global Cardiac Monitoring Market - Segmented by Treatment Type, Diseases, Technology and Geography - Growth, Trends and Forecasts (2022 - 2030)
The global cardiac monitoring market is expected to register a CAGR of around 4%. North America accounted for the highest market value in 2017. However, Middle East & Africa is expected to register the highest CAGR during the forecast period.
High Worldwide Incidence of Cardiovascular Diseases
Cardiovascular diseases have become one of the primary reasons for mortality and are becoming a major concern in most parts of the world. Coronary heart disease (CHD) is the most common type of heart disease, with a death toll of more than 370,000 people annually. The American Heart Association (AHA) reports cardiovascular disease to be the leading global cause of death, accounting for 17.3 million deaths per year, a number that is expected to grow to more than 23.6 million by 2030. The Heart Foundation also states that CVD is a major cause of death in Australia, with 45,053 deaths attributed to CVD in the country, in 2014.
The other factors boosting the growth of the market studied are - technological advancements, patient awareness, and the increasing number of unmet medical needs in developing and underdeveloped countries.
Risk of Infection Due to Implantable Monitoring Devices
A cardiac implantable device is used by patients who require the continuous monitoring of the heart, for better treatment. Monitoring the cardiac output is a common practice in anesthesia and critical care, but the infections that arise from implanted devices are one of the major restraining factors for the usage of these devices. Infection is always a risk with any invasive procedure and cardiac patients are especially susceptible, as their bodily functions are not running smoothly enough, in the first place. The rising rate of infections due to these devices has tremendous economic implications for hospitals. Patients who were implanted with these monitoring devices are likely to require prolonged hospital stays, and the related costs rack up fairly quickly. However, minimally invasive cardiac output monitors for clinical practice are introduced in the market, without requiring insertion of PAC. These devices utilize different techniques to monitor and each has their own source of potential errors and degree of invasiveness. Therefore, the risk of infection due to implantable medical devices is restraining the growth of the cardiac monitoring market.
North America to Dominate the Market
The volumetric growth of the market studied is significantly high in Asia-Pacific, because of the rising cases of the CVDs and increased purchasing power of the patients in India and China. In North America, sudden cardiac arrest (SCA) is the leading cause of death among the US adults aged 40 years and above. The awareness about these diseases and the availability of various monitoring and therapeutic devices is also increasing, thus accelerating the growth of market. The primary growth driver of the North American cardiac monitoring device market is the rising number of cardiovascular diseases.
Europe has the second largest cardiac monitoring device market. The economic crisis in Europe has slowed down the growth and increased the healthcare costs, while the uneven reimbursement policies across different countries in Europe have brought about limitations in the market.
Major Players - GE HEALTHCARE, PHILIPS HEALTHCARE, SIEMENS HEALTHCARE, TOSHIBA MEDICAL SYSTEMS, MEDTRONIC, CARDIAC SCIENCE CORPORATION, MENNEN MEDICAL, SCHILLER, BOSTON SCIENTIFIC, APPLIED CARDIAC SYSTEM, amongst others.
Reasons to Purchase This Report
• Market analysis of the cardiac monitoring market, with region-specific assessments and competition analysis, on global and regional scales
• Analyzing various perspectives of the industry with the help of Porter’s five forces analysis
• The treatment type that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
High Worldwide Incidence of Cardiovascular Diseases
Cardiovascular diseases have become one of the primary reasons for mortality and are becoming a major concern in most parts of the world. Coronary heart disease (CHD) is the most common type of heart disease, with a death toll of more than 370,000 people annually. The American Heart Association (AHA) reports cardiovascular disease to be the leading global cause of death, accounting for 17.3 million deaths per year, a number that is expected to grow to more than 23.6 million by 2030. The Heart Foundation also states that CVD is a major cause of death in Australia, with 45,053 deaths attributed to CVD in the country, in 2014.
The other factors boosting the growth of the market studied are - technological advancements, patient awareness, and the increasing number of unmet medical needs in developing and underdeveloped countries.
Risk of Infection Due to Implantable Monitoring Devices
A cardiac implantable device is used by patients who require the continuous monitoring of the heart, for better treatment. Monitoring the cardiac output is a common practice in anesthesia and critical care, but the infections that arise from implanted devices are one of the major restraining factors for the usage of these devices. Infection is always a risk with any invasive procedure and cardiac patients are especially susceptible, as their bodily functions are not running smoothly enough, in the first place. The rising rate of infections due to these devices has tremendous economic implications for hospitals. Patients who were implanted with these monitoring devices are likely to require prolonged hospital stays, and the related costs rack up fairly quickly. However, minimally invasive cardiac output monitors for clinical practice are introduced in the market, without requiring insertion of PAC. These devices utilize different techniques to monitor and each has their own source of potential errors and degree of invasiveness. Therefore, the risk of infection due to implantable medical devices is restraining the growth of the cardiac monitoring market.
North America to Dominate the Market
The volumetric growth of the market studied is significantly high in Asia-Pacific, because of the rising cases of the CVDs and increased purchasing power of the patients in India and China. In North America, sudden cardiac arrest (SCA) is the leading cause of death among the US adults aged 40 years and above. The awareness about these diseases and the availability of various monitoring and therapeutic devices is also increasing, thus accelerating the growth of market. The primary growth driver of the North American cardiac monitoring device market is the rising number of cardiovascular diseases.
Europe has the second largest cardiac monitoring device market. The economic crisis in Europe has slowed down the growth and increased the healthcare costs, while the uneven reimbursement policies across different countries in Europe have brought about limitations in the market.
Major Players - GE HEALTHCARE, PHILIPS HEALTHCARE, SIEMENS HEALTHCARE, TOSHIBA MEDICAL SYSTEMS, MEDTRONIC, CARDIAC SCIENCE CORPORATION, MENNEN MEDICAL, SCHILLER, BOSTON SCIENTIFIC, APPLIED CARDIAC SYSTEM, amongst others.
Reasons to Purchase This Report
• Market analysis of the cardiac monitoring market, with region-specific assessments and competition analysis, on global and regional scales
• Analyzing various perspectives of the industry with the help of Porter’s five forces analysis
• The treatment type that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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