The Cardiac Monitoring and Cardiac Rhythm Management Devices – Market Outlook

The cardiac monitoring and cardiac rhythm management devices market is set to chart an impressive CAGR (Compound Annual Growth Rate) over the coming years owing to multiple reasons. So, it would be pertinent for players to keep an eye on the market dynamics in order to make the most of new opportunities generated.

One of the biggest growth drivers in the market is the population that is ageing at an alarming level. Already, in the year 2018, history was created as far as the demographics of geriatric population is concerned. The number of people who were aged 65 or above actually surpassed the number of people aged 5 or below. Such an even occurred for the first time in the history of mankind.

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Besides, it is expected that by the end of 2050, one in six people will fall in the age group of old people (65 and above). And, in North America and Europe, the number will one in four. As this population increases, the market for cardiac monitoring and cardiac rhythm devices is bound to see high growth.

There is also the problem of lifestyle change that is leading to growth of Cardiovascular Diseases (CVD). As people live stressful lives, more now than ever in the history, the problem only rises. Besides, very often it is this stress that leads to harmful habits such as smoking and smoking-up that again lead to a high incidence of CVD.

As of now the market is slightly consolidated but is expected to see growing competition over the coming years. Some of the most prominent names in the global cardiac monitoring and cardiac rhythm management devices include St. Jude Medical Inc., Boston Scientific Corporation, Medtronic PLC, GE Healthcare, Philips Healthcare, Welch Allyn, Ecardio Diagnostics, Mortara Instruments, Nihon Kohden Corporation, and Life Watch.

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Growing Prevalence of Cardiovascular Disorders to Drive Market Growth

San Francisco, California, October 16, 2017:Cardiac Monitoring & Cardiac Rhythm Management Devices Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” is the latest report added by TMR Research which speaks about the present competitive market landscape of the global market for cardiac monitoring and cardiac rhythm management devices along with its micro and macro-economic directives, mandates, and regulations that monitor the global market. The study report also provide extensive information on both quantitative as well as qualitative evaluation of the global cardiac monitoring and cardiac rhythm management devices market by inspecting the information collected from key market companies and industry professionals.

In the recent years, the global market for cardiac monitoring and cardiac rhythm management devices has been growing at a phenomenal rate. Swift advancements in the technology and the advent of new and innovative products in the market such as durable batteries, biocompatible materials, and MRI pacemakers are offering a considerable boost to the market growth. Cardiac monitoring and cardiac rhythm management devices are chiefly used at homes, ambulatory care, and hospitals. Manufacturers are concentrating on developing more compact version of such devices, which is projected to revolutionize the global market over the coming years.

The increasing incidences of cardiovascular disease is the chief factor responsible to augment the growth of these cardiac monitoring and cardiac rhythm management devices. The altering lifestyles and fast growing elderly population can also be counted chief reasons for these disorders and can thus be counted as factors driving the overall growth of the global cardiac monitoring and cardiac rhythm management devices market. In addition to this, the increasing awareness about the easy availability of high end treatment coupled with growing use of ambulatory and home services is offering a big upward push to the market. Conducive regulatory conditions are also acting in favor of the overall development of the global market for cardiac monitoring and cardiac rhythm management devices.

On the other hand, there is a dearth of healthcare experts who specialize in electrocardiography and cardiac monitoring. This is one of the chief factors slowing down the overall development of the global market for cardiac monitoring and cardiac rhythm management devices. In addition to this, the high cost associated with these cardiac monitoring and cardiac rhythm management devices is creating obstacles in its large scale adoption. This is more compounded lack of suitable reimbursement policies for these devices of cardiac monitoring.

The global market for cardiac monitoring and cardiac rhythm management devices can be broadly categorized into cardiac rhythm management devices and traditional monitoring devices. Event monitors, Holter monitors, ECG and cardiac monitors, and implantable loop recorder are some of the other types of monitoring devices.
Some of the types of devices for cardiac rhythm management can be categorized as defibrillators, cardiac resynchronization devices, and pacemakers among others. The demand for ECG devices is projected to continue at a higher rate in the global market over the coming years.

In terms of geographical segmentation, the global cardiac monitoring and cardiac rhythm management devices can be divided into key regions such as North America, Asia Pacific, Europe, and Rest of the World. Europe and North America are projected to account for majority of the market share over the course of the mentioned forecast period. This is due to the presence modern healthcare infrastructure and increasing prevalence of cardiovascular disorders in these regions. Asia Pacific is expected to show most promising growth during the mentioned period of forecast owing to rapidly developing healthcare infrastructure and increasing customer expenditure.

Some of the key players in the global cardiac monitoring and cardiac rhythm management devices include names such as Philips Healthcare, Life Watch. Ecardio Diagnostics, Medtronic PLC, and GE Healthcare among others.

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