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.

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)