Global Cardiac Monitoring and Cardiac Rhythm Management Device Market Size, Share, Forecast Report, 2020-2027

Global cardiac monitoring and cardiac rhythm management device market is expected to grow during the forecast period (2018 to 2023) at a CAGR ~4%.

The cardiac monitoring device helps in observing the patient’s cardiac activity and the cardiac rhythm management device maintains normal cardiac rhythm in patients suffering from irregular heart rate and rhythm disorder. These devices play an important role in the treatment of serious cardiac disorders including heart failure, atrial fibrillation, atrial flutter, an indication of recent heart attack, lack of oxygen supply to cardiac muscle, and certain genetic errors, among others. Factors such as increasing cardiac disorders, changing lifestyle, technological advancements in cardiac devices, awareness regarding cardiac disorders, healthcare programs, and increasing number of unmet medical needs in developed and undeveloped countries have led to an increase in the growth of this market. However, the development of new MRI-labeled devices and the growth of the economy in the Asia-Pacific region are likely to drive the cardiac monitoring device market during the forecast period.

However, the high cost of these devices in developing nations, preference of drugs over devices in the cardiac treatment, and limited insurance coverage options are some of the factors which are hampering the growth of the market.

Segmentation

The global cardiac monitoring and cardiac rhythm management device market is segmented into types of cardiac devices, types of cardiac monitoring devices, types of cardiac rhythm management devices, and end-users. Further, the types of cardiac devices are segmented into pacemaker, biventricular pacemaker, implantable cardioverter defibrillator, and implantable cardiac loop recorder. Based on the types of cardiac monitoring devices the market is further segmented into electrocardiogram (ECG), Holter monitor, event monitor, implantable loop recorder, and cardiac output monitoring devices. Electrocardiogram (ECG) is further sub-segmented into telelectro-cardiogram, wireless ECG, and lead ECG test. Based on types of cardiac rhythm management devices, the market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices. Defibrillations are further sub-segmented into implantable defibrillators and external defibrillators. Based on end-user the market is segmented into hospitals, ambulatory surgical centers, and others.
Key Players

Some of the key players in the global cardiac monitoring and cardiac rhythm management device market are Abiomed, Berlin Hearth, Brotionik SE and Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc, Schiller, and Abbott.

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Devices

• Pacemaker
• Biventricular Pacemaker
• Implantable Cardioverter Defibrillator
• Implantable Cardiac Loop Recorder

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Monitoring Devices

• Electrocardiogram (ECG)
• Telelectro-Cardiogram
• Wireless ECG
• Lead ECG Test
• Holter Monitor
• Event Monitor
• Implantable Loop Recorder
• Cardiac Output Monitoring Device

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Types of Cardiac Rhythm Management (CRM) Devices

• Defibrillators
• Implantable Defibrillators
• External Defibrillators
• Pacemakers
• Cardiac Resynchronization Therapy Devices

Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by End-User

• Hospital
• Home/Ambulator
• Others