Cardiac Monitoring Market Set to Generate $16,124 Million Revenue by 2030, says P&S Intelligence

NEW YORK, May 10, 2022 /PRNewswire/ -- Due to the rising prevalence of CVDs, the cardiac monitoring market was valued at $7,965.7 million in 2021, which is expected to grow at a CAGR of 8.2% from 2021 to 2030, to reach $16,124.0 million by 2030. According the market research report published by P&S Intelligence. The continuous monitoring of heart health is essential due to lifestyle changes; as a result, medical technology businesses are introducing a variety of products.

Biotricity Inc. launched Bioheart, a heart monitor that allows for rhythm tracking for 48 hours on a full battery, in November 2021. According to the WHO, CVDs are the largest cause of death worldwide, killing 17.9 million people each year. Excessive smoking of cigarettes, obesity, high cholesterol levels, poor nutrition, physical inactivity, diabetes, and alcohol consumption directly impair heart health.

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Key Findings of Cardiac Monitoring Market Report

• In 2021, the North American cardiac monitoring market accounted for $2,998.3 million in revenue, which will rise at a CAGR of 8.7% from 2021 to 2030. The increasing healthcare expenditure, growing prevalence of CVDs, advancing disposable income, and increasing healthcare knowledge drive the market in the region
• Boston Scientific Corporation bought Preventice Solutions Inc. in January 2021 to offer portable ambulatory cardiac monitors and other devices that are essential to sound heart health.
• Similarly, ZOLL Medical Corporation declared the purchase of Cardiac Science Corporation in August 2019 to increase AED production for cardiac monitoring and deliver related accessories and services.
• The early identification of arrhythmias can help prevent serious heart events; as a result, the demand for cardiac monitoring devices is increasing since these devices can save patients in whom the risk of sudden cardiac arrest is high.
• In 2021, hospitals produced approximately $3,070.3 million in cardiac monitoring market revenue, and it is expected to grow at a 7.8% CAGR in the forecast period. Every year, around 6.9% of the patients with ischemic heart disease or a history of myocardial infarction are hospitalized in the U.S. While, approximately 7.2% of the patients with heart illnesses end up in emergency rooms.
• In China and the U.A.E., 58% and 46% of the patients, respectively, send data to healthcare experts via connected devices. In contrast, the percentages are roughly 12%, 17%, and 26% in Germany, Sweden, and the U.K., respectively.

Browse detailed report on Global Cardiac Monitoring Market Size, Share and Demand Forecast Through 2030

To attain a prominent foothold in the cardiac monitoring market, companies have launched new products and acquired other companies in recent years. Major companies in the market are Boston Scientific Corporation, GE Healthcare, Abbott Laboratories, BIOTRONIK, Nihon Kohden Corporation, Koninklijke Philips N.V., MicroPort Scientific Corporation, Hill-Rom Holdings, Medtronic plc, and Asahi Kasei Corporation. 

In 2021, the resting ECG category contributed roughly 38% of the sales revenue. This was due to the devices' ability to diagnose heart health more quickly and accurately than other monitoring technologies. These devices can also be utilized in conjunction with a variety of other telemetry monitoring equipment, diagnostic tests, and medical treatments.

Cardiac Monitoring Market Segmentation Analysis

By Product

• Resting ECG
• Stress ECG
• MCT
• Holter Monitoring
• ICM Monitoring
• Cardiac Event Monitoring
• Cardiac Output Monitoring

By Mode

• Standard
• Ambulatory

By End User

• Hospitals
• Specialty Cardiac Centers & Clinics
• Diagnostic Centers

Regional Outlook

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• Turkey
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence