Cardiac Monitoring and Cardiac Rhythm Management Devices Market by Product and Geography - Forecast and Analysis 2022-2026

Published: May 2022

Pages: 148

SKU: IRTNTR73584

Snapshot

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Report 2021-2026

The cardiac monitoring and cardiac rhythm management devices market share is estimated to grow by USD 5.52 billion at a progressing CAGR of 4.5% from 2021 to 2026.

This market trends and analysis report extensively covers segmentation by:

Product - Cardiac rhythm management devices and cardiac monitoring devices
Geography - North America, Europe, Asia, and Rest of World (ROW)

What will the Market Size be During the Forecast Period?

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Key Drivers, Trends, and Challenges

Key Driver

The increasing prevalence of CVDs is one of the key drivers supporting the market growth. In 2021, the Centers for Disease Control and Prevention (CDC) estimated that approximately 6.5 million people aged 40 and older in the US had PAD. It was also estimated that the prevalence of PAD is equal among men and women. The primary reason behind the spread of the disease is low awareness, especially in the growing economies of Asia. However, more than half of the affected population resides in low- and middle-income regions. Moreover, the prevalence of CVDs is also growing due to the increasing rate of risk factors, including diabetes, hypertension, smoking, and obesity. Such factors are expected to drive the growth of the market during the forecast period.

Key Trend

Increasing R&D focus is one of the key market trends contributing to the market growth. Several vendors are increasingly focusing their RD efforts on the development of innovative CM and CRM devices. For instance, Medtronic is developing a Medtronic EV-ICD System, which is expected to address the current limitations of S-ICD. Similarly, Cardialen Inc. (Cardialen) is developing a small, pacemaker-like implantable device that can monitor the heart, beat by beat, and stop AF through a proprietary sequential series of low-energy pulses. This device leaves no tissue damage or scarring, creates no toxicity, and can easily be switched off and on when needed. Such increasing efforts by vendors will propel the market growth and trends during the forecast period.

Key Challenge

The high costs of CM and CRM devices are the factors hampering the market growth. Primarily, depending on the level of technology and features involved, ECG devices cost USD1,000-USD3,000. In addition to the device cost, end-users have to bear the maintenance fees and other recurring costs for instruments and accessories. For instance, a standard resting ECG test uses 10 electrodes to generate 12 different views of the heart's electrical activity. Thus, if disposable electrodes are used, end-users must bear the cost of replacing electrodes after every ECG procedure. Furthermore, depending on the type and the country, the cost of a VAD can be more than USD 100,000. Such high costs will hamper the market growth during the forecast period.

This market growth analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Market Vendors?

The market forecasting report analyzes the market's competitive landscape and offers information on several market vendors, including:

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as continuously undergoing M&A to compete in the market.

Product Insights and News

Abbott.com - The company offers Cardiac Resynchronization Therapy (CRT) devices, catheters, connectivity and remote care Implantable Cardioverter Defibrillators (ICD), and others under cardiac rhythm management devices.
Abiomed.com - The company offers heart pumps such as Impella 2.5, Impella CP, and Implella 5.0 it provides SmartAssist technology which gives medical providers insights to help them improve patient outcomes.
Asahi-kasei.com - The company offers defibrillation and cardiac monitoring devices and software for observation of heart activity to determine the health of the heart.

The market research and growth report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Value Chain Analysis

Our market growth and forecasting report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Market?

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42% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for market in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The high healthcare expenditure on CVDs will facilitate the cardiac monitoring and cardiac rhythm management devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Market?

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The market share growth by the cardiac rhythm management devices segment will be significant during the forecast period. Defibrillators are one of the management devices that restore the normal heartbeat by delivering a shock or an electric pulse to the patient's heart. They are used to prevent or correct cardiac arrhythmia, wherein the heartbeat is too slow, too fast, or uneven. They help in restoring the heartbeat if the heart suddenly stops. The major types of defibrillators being used are implantable cardioverter defibrillators (ICD) and external defibrillators, which include automated external defibrillators (AED) and wearable cardioverter defibrillators (WCD). Such applications of devices will drive the market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.

Cardiac Monitoring and Cardiac Rhythm Management Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.5%
Market growth 2022-2026	USD 5.52 billion
Market structure	Fragmented
YoY growth (%)	4.1
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 42%
Key consumer countries	US, Canada, Germany, France, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, Abiomed Inc., ACS Diagnostics Inc., Asahi Kasei Corp., BioTelemetry Inc., BIOTRONIK SE and Co KG, Boston Scientific Corp., Fukuda Denshi Co. Ltd., GE Healthcare Inc., HILL ROM HOLDINGS Inc., InfoBionic Inc., Integrated Sensing Systems Inc., iRhythm Technologies Inc., Koninklijke Philips NV, Medtronic Plc, MicroPort Scientific Corp., Nihon Kohden Corp., OSI Systems Inc., Preventice Solutions Inc., and SCHILLER AG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the industry across North America, Europe, Asia, and Rest of World (ROW)
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)

5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product

5.3 Cardiac rhythm management devices - Market size and forecast 2021-2026
- Exhibit 28: Chart on Cardiac rhythm management devices - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Cardiac rhythm management devices - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Cardiac rhythm management devices - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Cardiac rhythm management devices - Year-over-year growth 2021-2026 (%)

5.4 Cardiac monitoring devices - Market size and forecast 2021-2026
- Exhibit 32: Chart on Cardiac monitoring devices - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Cardiac monitoring devices - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Cardiac monitoring devices - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Cardiac monitoring devices - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Product
- Exhibit 36: Market opportunity by Product ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026
- Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 Asia - Market size and forecast 2021-2026
- Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)

7.6 Rest of World (ROW) - Market size and forecast 2021-2026
- Exhibit 54: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

7.7 US - Market size and forecast 2021-2026
- Exhibit 58: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on US - Year-over-year growth 2021-2026 (%)

7.8 Germany - Market size and forecast 2021-2026
- Exhibit 62: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.9 France - Market size and forecast 2021-2026
- Exhibit 66: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on France - Year-over-year growth 2021-2026 (%)

7.10 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

7.11 Canada - Market size and forecast 2021-2026
- Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.12 Market opportunity by geography
- Exhibit 78: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 79: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 80: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 81: Overview on factors of disruption

9.4 Industry risks
- Exhibit 82: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 83: Vendors covered

10.2 Market positioning of vendors
- Exhibit 84: Matrix on vendor position and classification

10.3 Abbott Laboratories
- Exhibit 85: Abbott Laboratories - Overview
- Exhibit 86: Abbott Laboratories - Business segments
- Exhibit 87: Abbott Laboratories - Key news
- Exhibit 88: Abbott Laboratories - Key offerings
- Exhibit 89: Abbott Laboratories - Segment focus

10.4 Abiomed Inc.
- Exhibit 90: Abiomed Inc. - Overview
- Exhibit 91: Abiomed Inc. - Product / Service
- Exhibit 92: Abiomed Inc. - Key news
- Exhibit 93: Abiomed Inc. - Key offerings

10.5 Asahi Kasei Corp.
- Exhibit 94: Asahi Kasei Corp. - Overview
- Exhibit 95: Asahi Kasei Corp. - Business segments
- Exhibit 96: Asahi Kasei Corp. - Key news
- Exhibit 97: Asahi Kasei Corp. - Key offerings
- Exhibit 98: Asahi Kasei Corp. - Segment focus

10.6 BIOTRONIK SE and Co KG
- Exhibit 99: BIOTRONIK SE and Co KG - Overview
- Exhibit 100: BIOTRONIK SE and Co KG - Product / Service
- Exhibit 101: BIOTRONIK SE and Co KG - Key offerings

10.7 Boston Scientific Corp.
- Exhibit 102: Boston Scientific Corp. - Overview
- Exhibit 103: Boston Scientific Corp. - Business segments
- Exhibit 104: Boston Scientific Corp. - Key news
- Exhibit 105: Boston Scientific Corp. - Key offerings
- Exhibit 106: Boston Scientific Corp. - Segment focus

10.8 GE Healthcare Inc.
- Exhibit 107: GE Healthcare Inc. - Overview
- Exhibit 108: GE Healthcare Inc. - Product / Service
- Exhibit 109: GE Healthcare Inc. - Key offerings

10.9 HILL ROM HOLDINGS Inc.
- Exhibit 110: HILL ROM HOLDINGS Inc. - Overview
- Exhibit 111: HILL ROM HOLDINGS Inc. - Business segments
- Exhibit 112: HILL ROM HOLDINGS Inc. - Key news
- Exhibit 113: HILL ROM HOLDINGS Inc. - Key offerings
- Exhibit 114: HILL ROM HOLDINGS Inc. - Segment focus

10.10 Koninklijke Philips NV
- Exhibit 115: Koninklijke Philips NV - Overview
- Exhibit 116: Koninklijke Philips NV - Business segments
- Exhibit 117: Koninklijke Philips NV - Key news
- Exhibit 118: Koninklijke Philips NV - Key offerings
- Exhibit 119: Koninklijke Philips NV - Segment focus

10.11 Medtronic Plc
- Exhibit 120: Medtronic Plc - Overview
- Exhibit 121: Medtronic Plc - Business segments
- Exhibit 122: Medtronic Plc - Key news
- Exhibit 123: Medtronic Plc - Key offerings
- Exhibit 124: Medtronic Plc - Segment focus

10.12 SCHILLER AG
- Exhibit 125: SCHILLER AG - Overview
- Exhibit 126: SCHILLER AG - Product / Service
- Exhibit 127: SCHILLER AG - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources

11.5 List of abbreviations
- Exhibit 134: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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