The increasing prevalence of cardiovascular diseases and technological advancement of cardiac monitoring & cardiac rhythm management devices is driving the demand of the market.
Vancouver, BC -- (SBWIRE) -- 12/22/2020 -- Cardiac Monitoring &Cardiac Rhythm Management Devices Market
Rapid urbanization, increased exposure to stress and high-end lifestyle, and unhealthy food consumption have increased the occurrence of cardiovascular disorders, which is, in turn, driving the requirement for cardiac monitoring devices. The global Cardiac Monitoring and Cardiac Rhythm Management Devices Market is set to attain a valuation of USD 29.32 Billion by 2027, reporting a compound annual growth rate of 4.1% throughout the projected timeline, according to the latest report by Emergen Research.
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Key Players Profiled in the Report are:
MEDTRONIC PLC, GE HEALTHCARE, ABBOTT LABORATORIES, KONINKLIJKE PHILIPS N.V., BOSTON SCIENTIFIC CORPORATION, BIOTRONIK, HILL-ROM HOLDINGS, INC., ASAHI KASEI CORPORATION, MICROPORT SCIENTIFIC CORPORATION, and NIHON KOHDEN CORPORATION, among others.
Market Drivers
Technological advancement in cardiac monitoring and cardiac rhythm management devices and the increasing investment in the R&D sector to improve the efficiency of the devices to improve patient outcomes is bolstering the market demand. Rising incidences of cardiovascular disorders in geriatric populace and unhealthy lifestyle habits have increased the adoption of these devices and is forecasted to contribute to market growth over the projected timeline. Moreover, the increasing preference for wearable cardiac devices and the emergence of less invasive technologies are driving the market growth. Additionally, favourable government policies and grants for extending research in the domain is further anticipated to propel the industry's growth.
Type Outlook (Revenue, USD Billion; 2017-2027)
Mobile Cardiac Telemetry Devices
Implantable Loop Recorders
Event Monitors
ECG Devices (Stress ECG Devices, Resting ECG Devices, Holter Monitors)
Cardiac Output Monitoring Devices
Product Outlook (Revenue, USD Billion; 2017-2027)
Pacemakers (External Pacemakers and Implantable pacemakers)
Defibrillators (External Defibrillators and Implantable Cardioverter Defibrillators)
End Users Outlook (Revenue, USD Billion; 2017-2027)
Clinics, Ambulatory Surgery Centers, and Cardiac Centers
Hospitals
Other End Users
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The following are the main reasons to buy the Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market report:
The latest report closely evaluates the overall market size and infers on various aspects, such as the current business trends, market share, product offerings, and product share.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
It offers an insightful analysis of the various regional segments of the market that are projected to witness enormous growth over the forecast period.
Furthermore, the report covers the latest developments taking place in the market and effective business strategies implemented by the leading market rivals.
The report considers the following market growth estimation timeline:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
Regional Analysis
North America commanded the market in 2019 and is predicted to dominate the market growth in the estimated timeframe due to the escalating cases of cardiovascular disorders and the rising elderly populace in the region. The Asia Pacific is forecasted to be the key revenue-generating region owing to the rapid advancement in the healthcare sector and the advent of advanced cardiac devices. The rising geriatric population is also anticipated to contribute to regional growth.
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About Emergen Research
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