Global Cardiac Monitoring Market 2019-2024: —
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. According to the WHO reports, cardiovascular disease is one of the leading cause of death worldwide. It is estimated that cardiovascular diseases take the life of 17.9 million people every year, 31% of all global deaths. 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.
This study presents the Cardiac Monitoring production, revenue, market share and growth rate for each key company, and also covers the breakdown data by regions, type and applications.
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Scope of the Report
Continuous cardiac monitoring is an important tool in the clinical assessment of patients with a variety of conditions. It allows the detection of changes in heart rate and rhythm and is essential in the detection of life-threatening arrhythmias. This is achieved using a cardiac monitor, connected to a cable lead and skin electrodes, which captures the electrical activity predominantly through a single view. There are various types of cardiac monitors available in the market.
Key Market Trends
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.
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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).
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Table of Contents
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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