Increased rate of occurrence of arrhythmias, technological advancement in monitoring devices, and change in lifestyle are some of the factors boosting Cardiac Arrhythmias Monitoring Devices Market.
The Global Cardiac Arrhythmias Monitoring Devices Market is forecast to reach USD 9.99 Billion by 2028, according to a new report by Reports and Data.
Various factors have contributed to the market growth of the industry. One of the significant factors in this context has been the rise in the rate of occurrence of arrhythmias and the associated mortality. Such an increase in mortality rate associated with arrhythmias is a significant factor that has boosted the industry. The rise in the mortality rate associated with arrhythmias has also promoted the government in increasing its investments in the industry. The increase in the investments has resulted in advancements in cardiac arrhythmias monitoring devices like mobile cardiac telemetry devices. Such improvements enhance the applicability and ease of use of these devices, which in turn have a positive impact on the sector.
In addition to that, cardiac arrhythmias monitoring devices also have diverse applicability apart from recording the heartbeat, like alerting the care providers in case of emergencies. Such varied applicability of these devices also results in promoting the sector and contributes to its market growth.
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Growth in the historic period resulted from the rapid growth in the elderly population, strong economic growth in emerging markets, decline in oil prices, and health insurance reforms globally. Factors that negatively affected growth in the historic period were low healthcare access, shortages of skilled human resources, difficulty in manufacturing biologics, and regulatory changes.
Going forward, faster economic growth, technological developments and the increasing prevalence of diseases due to rising busy and sedentary lifestyles will drive the growth. Factors that could hinder the growth of this market in the future are rising interest rates, increasing awareness of alternative therapies and natural remedies, government provisions in healthcare services, and stringent government regulations.
North America is the largest market for healthcare, followed by Asia-Pacific, Western Europe and then the other regions. Due to favorable regulations and policies in these regions, healthcare industry is rapidly growing. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific.
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The prominent factors favoring market growth include increasing launches and initiatives by the market players to provide rapid treatment for addressing the diseases of the patients in the healthcare industry. Market-trend-based strategies for the healthcare market include increasing the adoption of bundled payments, using digital tools, increasing collaborations across industries and companies, focusing on the development of new medicines, and adopting hybrid imaging technology. Players adopted strategies in the healthcare industry include acquiring companies in similar industries to expand their presence and focusing on offering quality products and services.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
Top companies operating in the market and profiled in the report include:
iRhythm Technologies, Welch Allyn, Applied Cardiac Systems, Medtronic, Biotelemetry, Cardiac Science Corporation, Spacelabs Healthcare, Fukuda Denshi, Preventice Solutions, Jude Medical, Nihon Kohden Corporation, AliveCor, and NUUBO Smart Solutions Technologies.
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Further, the report segments the Cardiac Arrhythmias Monitoring Devices market on the basis of product types, applications, end-use industries, and technology among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Cardiac Arrhythmias Monitoring Devices Market Segmentation:
Device Type Outlook (Revenue, USD Billion; 2020-2028)
- Mobile Cardiac Telemetry Devices
- Resting ECG Devices
- Holter Monitors
- ECG Stress Test Devices
- Ambulatory ECG
Technology Type Outlook (Revenue, USD Billion; 2020-2028)
- Mobile Cardiac Telemetry Monitoring (MCT/MCOT)
- Digital Health Technology
- Smart Wearable ECG Monitors
- Artificial Intelligence
Distribution channel Type Outlook (Revenue, USD Billion; 2020-2028)
- Retail pharmacies
- Online pharmacies
Application Type Outlook (Revenue, USD Billion; 2020-2028)
- Ventricular Fibrillation
- Atrial Fibrillation
- Premature Contraction
- Conduction Disorders
End-user Outlook (Revenue, USD Billion; 2020-2028)
- Diagnostic Centers
- Ambulatory Surgical Centers
- Homecare Settings
- R&D Centers
Regional Analysis covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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