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Cardiac Monitoring And Cardiac Rhythm Market Report
Cardiac Monitoring and Cardiac Rhythm Market, By Product (ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Cardiac Output Monitoring Devices, Other), End-User (Hospitals, Home and Ambulatory Care, Other), and Region - CO...
Impact of COVID-19 on Cardiac Monitoring And Cardiac Rhythm Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Cardiac Monitoring and Cardiac Rhythm market is projected to grow from USD 22.1 billion in 2020 to USD 27.9 billion by 2026 at a CAGR of around 4.1% during the forecast period.
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Cardiac monitoring is defined as continuous or intermittent monitoring of heart activity, generally by electrocardiography, with an assessment of the patient's condition relative to their rhythm. suported product, cardiac monitoring and regular recurrence devices may be categorized as ECG devices, implantable loop recorders, mobile cardiac telemetry devices, cardiac output monitoring devices, and others.
Key players operating in the Cardiac Monitoring and Cardiac Rhythm market are-
The growth of the cardiac monitoring and cardiac rhythm market is primarily driven by the rising number of people suffering from cardiovascular diseases. The increasing prevalence of chronic diseases owing to changing lifestyles and unhealthy eating habits is expected to propel market growth at a significant rate during the review period. Additionally, increasing spending on R&D activities to advance cardiac monitoring and cardiac rhythm devices is likely to create lucrative opportunities for the market players during the review period.
By end-user, the cardiac monitoring and cardiac rhythm market has been bifurcated into hospitals, homes, and ambulatory care, and others. Under these, the hospitals' segment accounted for the largest market share in 2020 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.
By region, the market in North America accounted for the largest market share in 2020 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 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.
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.
Here is the list of the group of customers that the cardiac monitoring and cardiac rhythm market hopes to have the greatest opportunity to convert-
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The cardiac monitoring and cardiac rhythm market size is expected to reach USD 27.9 billion in the coming years.
Abiomed (US), Berlin Heart GmbH (Germany), Biotronik (Germany), Boston Scientific Corpora-tion (US), Cardiac Science Corporation (US), GE Healthcare (US), Jarvik Heart, Inc (US), Kon-inklijke Philips N.V. (Netherlands), LivaNova, PLC (UK), Medtronic plc (Ireland), Mortara Instru-ment (US), Nihon Kohden Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Reli-antHeart, Inc. (US), Schiller AG (Switzerland) and St. Jude Medical, Inc. (US) are among the key players in the cardiac monitoring and cardiac rhythm market.
The cardiac monitoring and cardiac rhythm market is expected to witness an impressive growth of 4.1% CAGR in the foreseeable future.
The hospitals' segment is expected to register significant growth in the cardiac monitoring and cardiac rhythm market in the coming years.
North America accounted for the largest share in the cardiac monitoring and cardiac rhythm market in 2020.
Cardiac monitoring and cardiac rhythm distributors, Cardiac monitoring and cardiac rhythm suppliers, Cardiac monitoring and cardiac rhythm manufacturers, Logistics organizations, Government bodies are the target audience in the cardiac monitoring and cardiac rhythm market.
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