Cardiac Monitoring And Cardiac Rhythm Management Market Size, Share & Trends Analysis Report By Product (CMD (ECG, Event Monitors), CRM (Pacemakers, Defibrillators)), By End Use, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global cardiac monitoring and cardiac rhythm management market size was exhibited at USD 29.1 billion in 2022 and is projected to hit around USD 71.85 billion by 2032, growing at a CAGR of 7.20% during the forecast period 2023 to 2032.

Cardiac Monitoring And Cardiac Rhythm Management Market Size

Key Pointers:

  • In terms of revenue, cardiac rhythm management devices dominated the market with around 70.4% share in 2022.
  • The Electrocardiography (ECG) segment dominated the cardiac monitoring devices market with around 37.0% share in 2022.
  • The hospital segment dominated the market and held the highest revenue share of 65.0% in 2022. 
  • North America dominated the market with a share of around 40.0% in 2022. 
  • Asia Pacific is expected to exhibit lucrative growth in the market for cardiac monitoring and cardiac rhythm management over the forecast period.
  • Cardiac monitoring and cardiac rhythm management Market Report Scope

Increasing incidence of cardiovascular diseases and advancement in medical devices is driving the market.

Cardiovascular disorders, such as ischemic heart disease, are one of the leading causes of death globally. According to the CDC, the prevalence of cardiovascular diseases and the number of deaths has remained steady with almost 35.0% of the population dying due to such diseases in 2021. Moreover, the incidence of obesity has increased over the past few years; an estimated 40.7% of adults in the U.S. are obese. In addition, in 2018, about 22.0% of the U.S. adults had high-density lipoprotein cholesterol levels of less than 40 mg/dL. Industry players are trying to develop advanced medical devices for cardiovascular disorders, which is propelling the market.

The hospital segment held the largest market share in terms of revenue in 2022. Hospitals are able to provide optimal care of the patients suffering from cardiovascular disorders by efficiently monitoring and diagnosing the problem at an early stage. This, in turn, is anticipated to augment the growth of the segment in the market.

The home care segment is expected to witness significant growth over the forecast period owing to ease of treatment and cost-effectiveness provided by the system. Miniaturization of medical devices required to monitor cardiovascular events at remote places is anticipated to drive the driving segment in the coming years.

North America held the largest revenue share in 2022 owing to the increasing geriatric population in the region. In addition, rapid technological advancements in medical devices such as miniaturization, long battery life, the use of biocompatible materials are also stimulating the growth of the market in the region. Moreover, rising cases of cardiovascular disorders including heart failure and cardiovascular arrests are expected to propel market growth in the region.

In Asia Pacific, the market is anticipated to witness significant growth over the forecast period. This is attributed to the rising demand for quality healthcare services in the region. The growing number of an aging population in countries including India, Japan, and China is driving demand for advanced medical devices in the region.

Some of the prominent players in the Cardiac monitoring and cardiac rhythm management Market include:

  • Stryker Corporation
  • Schiller
  • Medtronic
  • Abbott
  • Boston Scientific Corporation
  • Koninklijke Philips N.V.
  • Zoll Medical Corporation
  • BIOTRONIK
  • GE Healthcare
  • Microport Scientific Corporation
  • Hill-Rom Holdings
  • Nihon Kohden Corporation
  • Biotelemetry
  • Spacelabs healthcare

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global cardiac monitoring and cardiac rhythm management market.

By Product 

  • Cardiac monitoring devices
    • ECG
      • Resting ECG
      • Stress ECG
      • Holter Monitors
    • Event Monitors
    • Implantable Loop Recorders
    • Echocardiogram
    • Mobile Cardiac Telemetry
    • Others
  • Cardiac rhythm management devices
    • Pacemakers 
      • Implantable
      • External
    • Defibrillators
      • Implantable Cardioverter Defibrillators (ICD)
        • S-ICD
        • T-ICD
    • External Defibrillator
      • Manual External Defibrillator
      • Automatic External Defibrillator
      • Wearable Cardioverter Defibrillator
    • Cardiac Resynchronization Therapy (CRT)
      • CRT-Defibrillator
      • CRT-Pacemakers

By End-use 

  • Hospitals
  • Ambulatory centers
  • Home healthcare
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global cardiac monitoring and cardiac rhythm management market size was exhibited at USD 29.1 billion in 2022 and is projected to hit around USD 71.85 billion by 2032

The global cardiac monitoring and cardiac rhythm management market is growing at a compound annual growth rate (CAGR) of 7.20% from 2023 to 2032.

Some key players operating in the cardiac monitoring and cardiac rhythm management market include Boston Scientific, Nihon Kohden Corporation, GE Healthcare, Welch Allyn, Zoll Medical Corporation, Schiller, Spacelabs Healthcare, Scottcare Corporation, Ecardio Diagnostics, St. Jude Medical CardioNet, Phillips Healthcare, Cardiac Science Corporation, Life Watch, Mortara Instruments, and Medtronic.

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Chapter 1. Introduction

                 1.1 Market Segmentation and Scope

                     1.1.1 Products

                     1.1.2 Region

                     1.1.3 Estimates and forecast timeline

                 1.2 Research Methodology

                 1.3 Information Procurement

                     1.3.1 Purchased database:

                     1.3.2 Nova one advisor’s internal database

                     1.3.3 Secondary sources

                     1.3.4 Primary research

                     1.3.5 Details of primary research

                         1.3.5.1 Data for primary interviews in North America

                         1.3.5.2 Data for primary interviews in Europe

                         1.3.5.3 Data for primary interviews in Asia Pacific

                         1.3.5.4 Data for primary interviews in Latin America

                         1.3.5.5 Data for primary interviews in Middle East and Africa

                 1.4 Information or Data Analysis

                     1.4.1 Data analysis models

                 1.5 Market Formulation & Validation

                 1.6 Model Details

                     1.6.1 Commodity Flow Analysis

                 1.7 List of Secondary Sources

                 1.8 List of Primary Sources

                 1.9 Objectives

                     1.9.1 Objective 1

                     1.9.2 Objective 2

                     1.9.3 Objective 3

                     1.9.4 Objective 4

Chapter 2 Executive Summary

                 2.1 Market Outlook

                 2.2 Segment Outlook

Chapter 3 Cardiac Monitoring & CRM Devices Market Variables, Trends & Scope

                 3.1 Market Dynamics

                     3.1.1 Market driver analysis

                         3.1.1.1 Increasing incidence of cardiac disorders

                         3.1.1.2 Favorable reimbursement policies

                         3.1.1.3 Growing geriatric population base

                         3.1.1.4 Growing adoption of sedentary lifestyle

                     3.1.2 Market restrain analysis

                         3.1.2.1 Stringent regulatory framework

                 3.2 Cardiac Monitoring & CRM Devices: Market Analysis Tools

                     3.2.1 Industry analysis - Porter’s

                     3.2.2 SWOT analysis by factors (political & legal, economic, and social & technological)

                     3.2.3 Major deals and strategic alliances

                     3.2.4 Cardiac practices in U.S.

                         3.2.4.1 Product Recalls:

Chapter 4 Impact of Covid-19 in the CRM Market

                 4.1 Current And Future Impact Analysis

                     4.1.1 Disease Prevalence Analysis

                 4.2 Opportunity Analysis

                     4.2.1 Market Entry Strategies

Chapter 5 Cardiac Monitoring & CRM Devices Market: Segment Analysis, by Product, 2018 - 2032 

                 5.1 Definition and Scope

                 5.2 Product Type Market Share Analysis, 2023 & 2032

                 5.3 Global Cardiac Monitoring & CRM Devices Market, by Product, 2018 to 2032

                 5.4 Market Size & Forecasts and Trend Analyses, 2018 to 2032

                     5.4.1 CRM Devices

                         5.4.1.1 Pacemaker

                             5.4.1.1.1 Pacemaker, 2018 - 2032 

                             5.4.1.1.2 Implantable pacemaker

                                  5.4.1.1.2.1 Implantable Pacemaker, 2018 - 2032 

                             5.4.1.1.3 External pacemaker

                                  5.4.1.1.3.1 External Pacemaker, 2018 - 2032 

                         5.4.1.2 Defibrillators

                             5.4.1.2.1 Defibrillators, 2018 - 2032 

                             5.4.1.2.2 Implantable Cardioverter Defibrillators (ICDs)

                                  5.4.1.2.2.1 ICDs, 2018 - 2032 

                             5.4.1.2.3 s-ICD

                                  5.4.1.2.3.1 s-ICD, 2018 - 2032 

                             5.4.1.2.4 T-ICD

                                  5.4.1.2.4.1 T-ICD, 2018 - 2032 

                             5.4.1.2.5 External Defibrillators

                                  5.4.1.2.5.1 External Defibrillators, 2018 - 2032 

                             5.4.1.2.6 Manual External Defibrillators

                                  5.4.1.2.6.1 Manual External Defibrillators, 2018 - 2032 

                             5.4.1.2.7 Automatic External Defibrillators (AED)

                                  5.4.1.2.7.1 Automatic External Defibrillators, 2018 - 2032 

                             5.4.1.2.8 Wearable Cardioverter Defibrillators (WCD)

                                  5.4.1.2.8.1 Wearable Cardioverter Defibrillators, 2018 - 2032 

                         5.4.1.3 CRT

                             5.4.1.3.1 CRT, 2018 - 2032 

                             5.4.1.3.2 CRT pacemaker

                                  5.4.1.3.2.1 CRT pacemaker, 2018 - 2032 

                             5.4.1.3.3 CRT- Defibrillators

                                  5.4.1.3.3.1 CRT-defibrillators, 2018 - 2032 

                     5.4.2 Cardiac Monitoring devices

                         5.4.2.1 ECG Devices

                             5.4.2.1.1 ECG Devices, 2018 - 2032 

                             5.4.2.1.2 Resting ECG Devices

                                  5.4.2.1.2.1 Resting ECG Devices, 2018 - 2032 

                             5.4.2.1.3 Stress ECG Devices

                                  5.4.2.1.3.1 Stress ECG Devices, 2018 - 2032 

                             5.4.2.1.4 Holter Monitors

                                  5.4.2.1.4.1 Holter Monitors, 2018 - 2032 

                         5.4.2.2 Event Monitors

                             5.4.2.2.1 Event Monitors, 2018 - 2032 

                         5.4.2.3 Implantable Loop Recorders

                             5.4.2.3.1 Implantable Loop Recorders, 2018 - 2032 

                         5.4.2.4 Echocardiogram

                             5.4.2.4.1 Echocardiogram, 2018 - 2032 

                         5.4.2.5 Mobile Cardiac Telemetry

                             5.4.2.5.1 Mobile Cardiac Telemetry, 2018 - 2032 

                         5.4.2.6 Others

                             5.4.2.6.1 Others, 2018 - 2032 

Chapter 6 Cardiac Monitoring & CRM Devices Market: Segment Analysis, By End Use, 2018 - 2032 

                 6.1 Definition and Scope

                 6.2 End-use Type Market Share Analysis, 2023 & 2032

                 6.3 Global Cardiac Monitoring & CRM Devices Market, by End-use, 2018 to 2032

                 6.4 Market Size & Forecasts and Trend Analyses, 2018 to 2032

                     6.4.1 Hospitals

                         6.4.1.1 Hospitals, 2018 - 2032 

                     6.4.2 Ambulatory center

                         6.4.2.1 Ambulatory center, 2018 - 2032 

                     6.4.3 Home healthcare

                         6.4.3.1 Home healthcare, 2018 - 2032 

                     6.4.4 Others

                         6.4.4.1 Others, 2018 - 2032 

Chapter 7 Cardiac Monitoring & CRM Devices Market: Regional Market Analysis, by Product, 2018 - 2032 

                 7.1 Definition & Scope

                 7.2 Regional Market Snapshot

                 7.3 Market Size, & Forecasts, Volume and Trend Analysis, 2018 to 2032

                 7.4 North America

                     7.4.1 North America Cardiac Monitoring & CRM Devices market, BY Country, 2018-2032 

                     7.4.2 U.S.

                         7.4.2.1 U.S. Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.4.3 Canada 

                         7.4.3.1 Canada Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                 7.5 Europe

                     7.5.1 Europe Cardiac Monitoring & CRM Devices market, BY Country, 2018 - 2032 

                     7.5.2 U.K.

                         7.5.2.1 U.K. Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.5.3 Germany

                         7.5.3.1 Germany Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.5.4 France

                         7.5.4.1 France Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.5.5 Italy

                         7.5.5.1 Italy Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.5.6 Spain

                         7.5.6.1 Spain Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                 7.6 Asia Pacific

                     7.6.1 Asia Pacific Cardiac Monitoring & CRM Devices Market, By Country, 2018 - 2032 

                     7.6.2 Japan 

                         7.6.2.1 Japan implantation Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.6.3 China 

                         7.6.3.1 China Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.6.4 Australia

                         7.6.4.1 Australia Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.6.5 India

                         7.6.5.1 India Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                 7.7 Latin America

                     7.7.1 Latin America Cardiac Monitoring & CRM Devices market, BY Country, 2018 - 2032 

                     7.7.2 Brazil

                         7.7.2.1 Brazil Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.7.3 Mexico

                         7.7.3.1 Mexico Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                 7.8 MEA

                     7.8.1 MEA Cardiac Monitoring & CRM Devices market, BY Country, 2018 - 2032 

                     7.8.2 South Africa

                         7.8.2.1 South Africa Cardiac Monitoring & CRM Devices market, 2018 - 2032 

                     7.8.3 Saudi Arabia

                         7.8.3.1 Saudi Arabia Cardiac Monitoring & CRM Devices market, 2018 - 2032 

Chapter 8 Cardiac Monitoring & CRM Devices Market: Competitive Analysis

                 8.1 Company Profiles

                 8.2 Stryker Corporation

                     8.2.1 Company Overview

                     8.2.2 Financial Performance

                     8.2.3 Product Benchmarking

                     8.2.4 Strategic Initiatives

                 8.3 Schiller

                     8.3.1 Company Overview

                     8.3.2 Financial Performance

                     8.3.3 Product Benchmarking

                     8.3.4 Strategic Initiatives

                 8.4 Medtronic

                     8.4.1 Company Overview

                     8.4.2 Financial Performance

                     8.4.3 Product Benchmarking

                     8.4.4 Strategic Initiatives

                 8.5 Abbott

                     8.5.1 Company Overview

                     8.5.2 Financial Performance

                     8.5.3 Product Benchmarking

                     8.5.4 Strategic Initiatives

                 8.6 Boston Scientific Corporation

                     8.6.1 Company Overview

                     8.6.2 Financial Performance

                     8.6.3 Product Benchmarking

                     8.6.4 Strategic Initiatives

                 8.7 Koninklijke Philips N.V.

                     8.7.1 Company Overview

                     8.7.2 Financial Performance

                     8.7.3 Product Benchmarking

                     8.7.4 Strategic Initiatives

                 8.8 Zoll Medical Corporation

                     8.8.1 Company Overview

                     8.8.2 Financial Performance

                     8.8.3 Product Benchmarking

                     8.8.4 Strategic Initiatives

                 8.9 BIOTRONIK

                     8.9.1 Company Overview

                     8.9.2 Financial Performance

                     8.9.3 Product Benchmarking

                     8.9.4 Strategic Initiatives

                 8.10 GE Healthcare

                     8.10.1 Company Overview

                     8.10.2 Financial Performance

                     8.10.3 Product Benchmarking

                     8.10.4 Strategic Initiatives

                 8.11 Microport Scientific Corporation

                     8.11.1 Company Overview

                     8.11.2 Financial Performance

                     8.11.3 Product Benchmarking

                     8.11.4 Strategic Initiatives

                 8.12 Hill-Rom Holdings

                     8.12.1 Company Overview

                     8.12.2 Financial Performance

                     8.12.3 Product Benchmarking

                     8.12.4 Strategic Initiatives

                 8.13 Nihon Kohden Corporation

                     8.13.1 Company Overview

                     8.13.2 Financial Performance

                     8.13.3 Product Benchmarking

                     8.13.4 Strategic Initiatives

                 8.14 Biotelemetry

                     8.14.1 Company Overview

                     8.14.2 Financial Performance

                     8.14.3 Product Benchmarking

                     8.14.4 Strategic Initiatives

                 8.15 Spacelabs healthcare

                     8.15.1 Company Overview

                     8.15.2 Financial Performance

                     8.15.3 Product Benchmarking

                     8.15.4 Strategic Initiatives

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