Global Cardiac Monitoring Market 2017-2021

Overview of the global cardiac monitoring market

Technavio’s market study identifies the increasing prevalence of CVDs to be one of the primary growth factors for the cardiac monitoring market. A large number of individuals across the globe are increasingly suffering from cardiovascular diseases (CVDs) such as angina, MI, stroke, heart failure, venous thromboembolism (VTE), and heart arrhythmia. CVDs have become one of the primary reasons for mortality. Rheumatic heart disease (RHD) is the most commonly acquired heart disease among people under the age of 25. Patients suffering from CVDs require continuous heart monitoring to detect and monitor irregular heartbeats and cardiac ablations, which will in turn increase the need for heart rate monitors. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 8% by 2021.

Vendors are focusing on upgrading and innovating their products with technological advancements to offer improved mobility, ease of use, streamlined workflow, and interoperability. They are also focusing on designing small and portable ECGs to cater to the rising demand for portable monitoring devices. Portable monitoring devices are equipped with wireless networks that can transmit data on a long-time basis and allow doctors to remotely monitor their patients. Additionally, they also reduce the number of in-hospital device evaluations, the number of hospital admissions, the length of stay for cardiac hospitalization, and the frequency of follow-ups. Such benefits will increase the adoption of portable cardiac monitoring devices, which according to our analysts will be one of the key trends that will gain traction in the cardiac monitoring market during the next few years.

Competitive landscape and key vendors

The cardiac monitoring market is highly fragmented due to the presence of several international, regional, and global players. Vendors compete intensely on the basis of price, R&D, brand awareness, product portfolio, device features, and geographical coverage. The key players account for major market share as they offer a broad product portfolio, make significant investments in R&D, and offer technologically advanced products. Small and medium players in the heart monitoring device market are competing with the global players by increasing their R&D investments towards the innovation of new products.

The leading vendors in the market are

• Abbott
• GE Healthcare
• Hill-Rom
• Medtronic
• Philips Healthcare

The other prominent vendors in the market are BIOTRONIK, Cheetah Medical, Deltex Medical, dms-service, Edwards Lifesciences, LiDCO, Manatec Biomedical, Midmark, NIHON KOHDEN, Schiller, SORIN GROUP, and Spacelabs Healthcare.

Segmentation by product type and analysis of the cardiac monitoring market

• Electrocardiogram (ECG) devices
• Implantable loop recorder (ILRs)
• Cardiac event monitors
• Cardiac output monitoring (COM) devices

Electrocardiogram devices (ECG) segment constitute for the major market shares of this market due to factors such as the increasing prevalence of cardiac disorders, the growth in aging population, the growing number of cardiac care and diagnostic centers, and the increasing focus on the early diagnosis. Additionally, the advent of advanced resting and portable ECG devices with high compatibility, wireless connectivity, and seamless interoperability, will further influence the growth of the heart monitoring device market in the ECG segment.

Geographical segmentation and analysis of the cardiac monitoring market

• Americas
• APAC
• EMEA

The Americas witness an increase in the prevalence of CVDs mainly due to the unhealthy lifestyle of the residents. The international vendors such as GE Healthcare and Abbott operate in this region and offer technologically advanced products. US will be the major revenue contributor to the heart monitoring device market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global cardiac monitoring market?
• What are the key market trends impacting the growth of the global cardiac monitoring market?
• What are the challenges to market growth?
• Who are the key vendors in the global cardiac monitoring market?
• What are the market opportunities and threats faced by the vendors in the global cardiac monitoring market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global cardiac monitoring market?

Technavio also offers customization on reports based on specific client requirement