The Global Ambulatory Arrhythmia 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 Ambulatory Arrhythmia 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.
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In addition to that, Ambulatory Arrhythmia 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.
In context to region, North America holds the largest market share because of the easy availability of technologically advanced arrhythmia-monitoring devices in this region and an increase in the prevalence of cardiac arrhythmias. There has also been an increased investment for RD in this region, contributing to market dominance in this region.
Further key findings from the report suggest:
- Availability of low-cost ECG services and devices is having a positive impact on the growth of the sector.
- Increased awareness level about cardiac health and arrhythmias is also boosting the growth of this industry.
- In regards to devices, the resting ECG devices segment is leading the market and is forecasted to occupy 37% of the market share by 2028 with a CAGR of 7.2% during the forecast period. The reason for this segment to lead the market is applicability in detecting arrhythmias in an individual is in a resting position, making it applicable in hospital admissions.
- Constant focus on technological advancement in the monitoring devices segment is also boosting the growth rate of the industry.
- In regards to the technology segment, digital health technology holds the largest market share of 36% in the year 2020, with a growth rate of 6.9% during the forecast period. Factors contributing to its market share are a long association in the healthcare industry and its applicability in transferring data that helps in managing the health condition.
- In context to the distribution channel, the dominance of retail pharmacies is observable that holds 69% of the market in 2020, and it is forecasted to witness a growth rate of 6.7%. Factors like the requirement of expert understanding for distributing the devices and specific regulations regulating the market are the boosting factors for the industry in this segment.
- The broad applicability of Ambulatory Arrhythmia Monitoring Devices in the management of arrhythmias is one of the major contributing factors for its growth. In regards to application, atrial fibrillation occupies the largest market share of 30% in 2020 with a growth rate of 6.9% during the forecast period. The high rate of prevalence of the condition makes the application of the devices necessary for its management and results in its market dominance.
- In the end users segment, hospitals occupy the largest market share of 36% in 2020 with the highest growth rate of 7.2% during the forecast period. Factors like rise in the prevalence of arrhythmias, and related hospital admissions are the contributing reasons for its market dominance.
- North America is forecasted to hold the largest market share of 33% of the market by 2028, with a growth rate of 6.9% during the forecast period. Presence of technologically advanced arrhythmia monitoring devices and a high prevalence of cardiac arrhythmias results in boosting the market in this region.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product service portfolio. The Ambulatory Arrhythmia Monitoring Devices market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
- iRhythm Technologies
- Applied Cardiac Systems
- Medtronic, Biotelemetry
- Welch Allyn
- Cardiac Science Corporation
- Fukuda Denshi
- Preventice Solutions
- St.Jude Medical
- Spacelabs Healthcare
- Nihon Kohden Corporation
- NUUBO Smart Solutions Technologies
- AliveCor
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Ambulatory Arrhythmia Monitoring Devices Market Segmentation:
Device Type Outlook:
- Mobile Cardiac Telemetry Devices
- Resting ECG Devices
- Holter Monitors
- ECG Stress Test Devices
- Ambulatory ECG
Technology Type Outlook:
- Mobile Cardiac Telemetry Monitoring (MCT/MCOT)
- Digital Health Technology
- Smart Wearable ECG Monitors
- Artificial Intelligence
Distribution channel Type Outlook:
- Retail pharmacies
- Online pharmacies
Application Outlook:
- Ventricular Fibrillation
- Atrial Fibrillation
- Bradycardia
- Premature Contraction
- Conduction Disorders
- Tachycardia
End-user Outlook:
- Hospitals
- Diagnostic Centers
- Ambulatory Surgical Centers
- Homecare Settings
- RD Centers
Geographic Segment Covered in the Report:
The Ambulatory Arrhythmia Monitoring Devices report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global Ambulatory Arrhythmia Monitoring Devices market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Ambulatory Arrhythmia Monitoring Devices market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global Ambulatory Arrhythmia Monitoring Devices report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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