Cardiac Monitoring and Cardiac Rhythm Market Analysis | 2022-2028

Market Insights

The Cardiac Monitoring and Cardiac Rhythm Market was estimated at US$ 23.14 billion in 2021 and is expected to grow at a CAGR of 3.97% during 2023-2028 to reach US$ 30.45 billion by 2028.

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What is Cardiac Monitoring and Cardiac Rhythm?

Cardiac monitoring involves the continuous observation of the heart's electrical activity and vital signs to assess its function and detect abnormalities. This typically involves the use of electrocardiography (ECG or EKG) to record the heart's rhythm and identify any irregularities or disturbances.

Cardiac rhythm refers to the pattern of electrical impulses that coordinate the heart's contractions, determining its rate and rhythm. Normal cardiac rhythm ensures effective blood circulation, while irregularities like arrhythmias can lead to complications such as palpitations, fainting, or cardiac arrest. Monitoring cardiac rhythm is crucial for diagnosing and managing various cardiac conditions, enabling timely intervention to maintain heart health.

Market Dynamics

The growth of the cardiac monitoring and cardiac rhythm market is driven by the following factors-

• Increasing incidence of chronic diseases due to lifestyle changes and poor dietary habits.

• Rising prevalence of cardiovascular diseases coupled with expanding geriatric populace.

• Growing emphasis on research and development (R&D) efforts to enhance cardiac monitoring and rhythm devices.

• Market players are poised to benefit from lucrative opportunities arising during the review period.

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COVID-19 Impact

The outbreak of the COVID-19 virus has affected the growth of the healthcare industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period and thus affected the market growth.

Segments Analysis

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End-User Trends

The cardiac monitoring and cardiac rhythm market has been bifurcated into hospitals, homes, ambulatory care, and others. Under these, the hospitals segment accounted for the largest market share of 60% in 2021 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of required healthcare infrastructure and skilled healthcare staff.

Regional Analysis

The market in North America accounted for the largest market share of 35% in 2021 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the prevalence of the large number of people suffering from cardiovascular diseases coupled with the expanding geriatric populace and the presence of key market players such as Abiomed (US) and Boston Scientific Corporation (US). The market growth in the Asia-Pacific region is expected to be driven by rising incidences of cardiac arrest and heart failure.

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Key Players

Some of the key players operating in the cardiac monitoring and cardiac rhythm market are-

• Abiomed (US)
• Berlin Heart GmbH (Germany)
• Biotronik (Germany)
• Boston Scientific Corporation (US)
• Cardiac Science Corporation (US)
• GE Healthcare (US)
• Jarvik Heart, Inc (US)
• Koninklijke Philips N.V. (Netherlands)
• Koninklijke Philips N.V. (Netherlands)
• LivaNova, PLC (UK)
• Medtronic plc (Ireland)
• Mortara Instrument (US)
• Nihon Kohden Corporation (Japan)
• ReliantHeart, Inc. (US)
• Schiller AG (Switzerland)
• St. Jude Medical, Inc. (US).

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Cardiac Monitoring and Cardiac Rhythm Manufacturers
• Distributors
• Suppliers
• Logistics Organizations
• Government Bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.