Cardiac Monitoring Devices Market Opportunity Analysis, 2018-2026
Development of technologically advanced cardiac monitoring devices is expected to boost the cardiac monitoring devices market growth
Cardiac monitoring devices enable continual observation of patients with heart disorders. These devices are commonly used in emergency rooms and critical care units and primarily in arrhythmias to monitor the rate of heartbeats. Common types of cardiac monitoring devices include holter monitors, event monitors, loop monitors, and insertable cardiac monitors. The additional parameters monitored noninvasively by cardiac monitors include blood pressure, cardiac output, intravascular pressures, arterial blood oxygen saturation, and blood temperature.
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Rise in incidence of cardiovascular diseases such as cardiac arrthymia, ischemic heart disease, and hypertension is expected to fuel growth of the cardiac monitoring devices market. According to World Health Organization (WHO), 2015, cardiovascular diseases was the leading cause of deaths accounting for 17.7 million deaths, globally. Furthermore, increasing applications of cardiac monitors in continuous monitoring for patients with severe electrolyte imbalances and for postoperative observation is expected to augment the market growth over the forecast period. Development of advance cardiac monitoring devices such as remote cardiac monitoring devices and wireless cardiac monitoring devices providing early detection is a major factor expected to boast the cardiac monitoring devices market growth over the forecast period.
For instance, ZywiePro, the next-generation cardiac remote monitoring solution launched in 2015, leverages mobile and cloud technology to facilitate detection of cardiovascular arrhythmias. ZywiePro enables physicians to provide more personalized and effective patient care by detailed diagnostic insight into the cardiovascular health of the patients. However, factors inhibiting the cardiac monitoring devices market include high cost of device and lack of knowledge about advance cardiac monitoring devices.
Advance cardiac monitoring devices enable physician to make accurate diagnosis and determine a treatment plan. For instance, the Reveal LINQ Insertable Cardiac Monitor manufactured by Medtronic, approved by FDA in 2014, is currently the smallest heart monitor in the market. It can diagnose the cause of infrequent, unexplained fainting spells better than conventional testing.
Regional segmentation of cardiac monitoring devices market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in global cardiac monitoring devices market over the forecast period, due to increasing prevalence of cardiovascular diseases in the region.
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Philips Healthcare, Medtronic, Boston Scientific, Cardiac Science, LifeWatch, CareTaker Medical, Spacelabs, St. Jude Medical, Kohden, CardioNet, and Mortara Instrument.
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