Cardiac Monitoring Products Market By Device Type , By End User : Global Opportunity Analysis and Industry Forecast, 2024-2033

Description

The cardiac monitoring products market was valued at $25.1 billion in 2023, and is projected to reach $42.2 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

Cardiac monitoring products are essential tools designed to track and assess heart activities for patients with cardiovascular conditions. These devices provide continuous or on-demand monitoring, enabling early detection of irregularities like arrhythmias, ischemia, or other cardiac events. These devices range from wearable monitors, such as Holter monitors and event recorders, to advanced implantable devices like pacemakers and loop recorders.

The growth of the global cardiac monitoring products market is driven by alarming increase in prevalence of heart-related conditions, such as arrhythmias, heart failure, and coronary artery diseases. According to the World Heart Federation, cardiovascular diseases are the leading cause of death worldwide as compared to any other cause. Approximately 20.5 million die every year due to cardiovascular diseases. In addition, surge in geriatric population significantly contributes toward the growth of the global market. This is attributed to the fact that aged individuals are highly susceptible to cardiac diseases due to degeneration of cardiovascular system. As per the article published by the Revista Espanola de Cardiologia-the official publication of the Spanish Society of Cardiology-coronary heart disease is the leading cause of death in 81% of adults aged 65 years or older. Furthermore, increase in public awareness of cardiovascular health and the importance of early detection are encouraging more widespread use of cardiac monitoring products. Moreover, increase in penetration of telemedicine and remote patient monitoring devices has accelerated the adoption of cardiac monitoring devices, which acts as the key driving force of the global market. However, high costs of devices and procedures hamper the market growth. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access restrain the market growth. On the contrary, innovations in wearable technology, remote monitoring, and AI-driven diagnostics are enhancing the functionality and accessibility of cardiac monitoring devices, which are expected to offer lucrative opportunities for the market growth during the forecast period. Furthermore, higher healthcare spending, particularly in emerging markets, is driving investments in advanced medical technologies, including cardiac monitoring devices, which is anticipated to open new avenues for the market growth.

The cardiac monitoring products industry is segmented into device type, application, end user, and region. By device type, the market is divided into ECG monitor, event recorder, implantable cardiac loop recorder, pacemaker, defibrillator, cardiac resynchronization therapy (CRT) devices, smart wearable, and others. On the basis of end user, it is divided into hospitals, specialty clinics, ambulatory care, homecare, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

By device, the ECG monitor segment dominated the market, in terms of share, in 2023.

On the basis of end user, the hospital segment was the major shareholder in 2023.

Region wise, North America held a dominant position in the market; however, Asia-Pacific is expected to register highest CAGR during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global cardiac monitoring products market include Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, GE Healthcare, iRhythm Technologies Inc, Biotronik, LivaNova PLC, Baxter International Inc., Schiller AG, and Koninklijke Philips N.V. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.

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Key Market Segments

By Device Type

ECG monitor
Event Recorder
Implantable Cardiac Loop Recorder
Pacemaker
Defibrillator
Cardiac Resynchronization Therapy (CRT) Devices
Smart Wearable
Other

By End User

Hospitals
Specialty Clinics
Ambulatory Care
Homecare
Other

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA

Key Market Players:

Abbott Laboratories
Medtronic plc
Boston Scientific Corporation
GE Healthcare
iRhythm Technologies Inc
Biotronik
LivaNova PLC
Baxter International Inc.
Schiller AG
Koninklijke Philips N.V.

Product Code: A324071

CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
- 1.4.1. Primary Research
- 1.4.2. Secondary Research
- 1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
- 3.2.1. Top Investment Pockets
- 3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
- 3.3.1. Bargaining Power of Suppliers
- 3.3.2. Threat of New Entrants
- 3.3.3. Threat of Substitutes
- 3.3.4. Competitive Rivalry
- 3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities

CHAPTER 4: CARDIAC MONITORING PRODUCTS MARKET, BY DEVICE TYPE

4.1. Market Overview
- 4.1.1 Market Size and Forecast, By Device Type
4.2. ECG Monitor
- 4.2.1. Key Market Trends, Growth Factors and Opportunities
- 4.2.2. Market Size and Forecast, By Region
- 4.2.3. Market Share Analysis, By Country
4.3. Event Recorder
- 4.3.1. Key Market Trends, Growth Factors and Opportunities
- 4.3.2. Market Size and Forecast, By Region
- 4.3.3. Market Share Analysis, By Country
4.4. Implantable Cardiac Loop Recorder
- 4.4.1. Key Market Trends, Growth Factors and Opportunities
- 4.4.2. Market Size and Forecast, By Region
- 4.4.3. Market Share Analysis, By Country
4.5. Pacemaker
- 4.5.1. Key Market Trends, Growth Factors and Opportunities
- 4.5.2. Market Size and Forecast, By Region
- 4.5.3. Market Share Analysis, By Country
4.6. Defibrillator
- 4.6.1. Key Market Trends, Growth Factors and Opportunities
- 4.6.2. Market Size and Forecast, By Region
- 4.6.3. Market Share Analysis, By Country
4.7. Cardiac Resynchronization Therapy (CRT) Devices
- 4.7.1. Key Market Trends, Growth Factors and Opportunities
- 4.7.2. Market Size and Forecast, By Region
- 4.7.3. Market Share Analysis, By Country
4.8. Smart Wearable
- 4.8.1. Key Market Trends, Growth Factors and Opportunities
- 4.8.2. Market Size and Forecast, By Region
- 4.8.3. Market Share Analysis, By Country
4.9. Other
- 4.9.1. Key Market Trends, Growth Factors and Opportunities
- 4.9.2. Market Size and Forecast, By Region
- 4.9.3. Market Share Analysis, By Country

CHAPTER 5: CARDIAC MONITORING PRODUCTS MARKET, BY END USER

5.1. Market Overview
- 5.1.1 Market Size and Forecast, By End User
5.2. Hospitals
- 5.2.1. Key Market Trends, Growth Factors and Opportunities
- 5.2.2. Market Size and Forecast, By Region
- 5.2.3. Market Share Analysis, By Country
5.3. Specialty Clinics
- 5.3.1. Key Market Trends, Growth Factors and Opportunities
- 5.3.2. Market Size and Forecast, By Region
- 5.3.3. Market Share Analysis, By Country
5.4. Ambulatory Care
- 5.4.1. Key Market Trends, Growth Factors and Opportunities
- 5.4.2. Market Size and Forecast, By Region
- 5.4.3. Market Share Analysis, By Country
5.5. Homecare
- 5.5.1. Key Market Trends, Growth Factors and Opportunities
- 5.5.2. Market Size and Forecast, By Region
- 5.5.3. Market Share Analysis, By Country
5.6. Other
- 5.6.1. Key Market Trends, Growth Factors and Opportunities
- 5.6.2. Market Size and Forecast, By Region
- 5.6.3. Market Share Analysis, By Country

CHAPTER 6: CARDIAC MONITORING PRODUCTS MARKET, BY REGION

6.1. Market Overview
- 6.1.1 Market Size and Forecast, By Region
6.2. North America
- 6.2.1. Key Market Trends and Opportunities
- 6.2.2. Market Size and Forecast, By Device Type
- 6.2.3. Market Size and Forecast, By End User
- 6.2.4. Market Size and Forecast, By Country
- 6.2.5. U.S. Cardiac Monitoring Products Market
  - 6.2.5.1. Market Size and Forecast, By Device Type
  - 6.2.5.2. Market Size and Forecast, By End User
- 6.2.6. Canada Cardiac Monitoring Products Market
  - 6.2.6.1. Market Size and Forecast, By Device Type
  - 6.2.6.2. Market Size and Forecast, By End User
- 6.2.7. Mexico Cardiac Monitoring Products Market
  - 6.2.7.1. Market Size and Forecast, By Device Type
  - 6.2.7.2. Market Size and Forecast, By End User
6.3. Europe
- 6.3.1. Key Market Trends and Opportunities
- 6.3.2. Market Size and Forecast, By Device Type
- 6.3.3. Market Size and Forecast, By End User
- 6.3.4. Market Size and Forecast, By Country
- 6.3.5. Germany Cardiac Monitoring Products Market
  - 6.3.5.1. Market Size and Forecast, By Device Type
  - 6.3.5.2. Market Size and Forecast, By End User
- 6.3.6. France Cardiac Monitoring Products Market
  - 6.3.6.1. Market Size and Forecast, By Device Type
  - 6.3.6.2. Market Size and Forecast, By End User
- 6.3.7. UK Cardiac Monitoring Products Market
  - 6.3.7.1. Market Size and Forecast, By Device Type
  - 6.3.7.2. Market Size and Forecast, By End User
- 6.3.8. Italy Cardiac Monitoring Products Market
  - 6.3.8.1. Market Size and Forecast, By Device Type
  - 6.3.8.2. Market Size and Forecast, By End User
- 6.3.9. Spain Cardiac Monitoring Products Market
  - 6.3.9.1. Market Size and Forecast, By Device Type
  - 6.3.9.2. Market Size and Forecast, By End User
- 6.3.10. Rest of Europe Cardiac Monitoring Products Market
  - 6.3.10.1. Market Size and Forecast, By Device Type
  - 6.3.10.2. Market Size and Forecast, By End User
6.4. Asia-Pacific
- 6.4.1. Key Market Trends and Opportunities
- 6.4.2. Market Size and Forecast, By Device Type
- 6.4.3. Market Size and Forecast, By End User
- 6.4.4. Market Size and Forecast, By Country
- 6.4.5. Japan Cardiac Monitoring Products Market
  - 6.4.5.1. Market Size and Forecast, By Device Type
  - 6.4.5.2. Market Size and Forecast, By End User
- 6.4.6. China Cardiac Monitoring Products Market
  - 6.4.6.1. Market Size and Forecast, By Device Type
  - 6.4.6.2. Market Size and Forecast, By End User
- 6.4.7. Australia Cardiac Monitoring Products Market
  - 6.4.7.1. Market Size and Forecast, By Device Type
  - 6.4.7.2. Market Size and Forecast, By End User
- 6.4.8. India Cardiac Monitoring Products Market
  - 6.4.8.1. Market Size and Forecast, By Device Type
  - 6.4.8.2. Market Size and Forecast, By End User
- 6.4.9. South Korea Cardiac Monitoring Products Market
  - 6.4.9.1. Market Size and Forecast, By Device Type
  - 6.4.9.2. Market Size and Forecast, By End User
- 6.4.10. Rest of Asia-Pacific Cardiac Monitoring Products Market
  - 6.4.10.1. Market Size and Forecast, By Device Type
  - 6.4.10.2. Market Size and Forecast, By End User
6.5. LAMEA
- 6.5.1. Key Market Trends and Opportunities
- 6.5.2. Market Size and Forecast, By Device Type
- 6.5.3. Market Size and Forecast, By End User
- 6.5.4. Market Size and Forecast, By Country
- 6.5.5. Brazil Cardiac Monitoring Products Market
  - 6.5.5.1. Market Size and Forecast, By Device Type
  - 6.5.5.2. Market Size and Forecast, By End User
- 6.5.6. Saudi Arabia Cardiac Monitoring Products Market
  - 6.5.6.1. Market Size and Forecast, By Device Type
  - 6.5.6.2. Market Size and Forecast, By End User
- 6.5.7. South Africa Cardiac Monitoring Products Market
  - 6.5.7.1. Market Size and Forecast, By Device Type
  - 6.5.7.2. Market Size and Forecast, By End User
- 6.5.8. Rest of LAMEA Cardiac Monitoring Products Market
  - 6.5.8.1. Market Size and Forecast, By Device Type
  - 6.5.8.2. Market Size and Forecast, By End User

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. Abbott Laboratories
- 8.1.1. Company Overview
- 8.1.2. Key Executives
- 8.1.3. Company Snapshot
- 8.1.4. Operating Business Segments
- 8.1.5. Product Portfolio
- 8.1.6. Business Performance
- 8.1.7. Key Strategic Moves and Developments
8.2. Medtronic Plc
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Operating Business Segments
- 8.2.5. Product Portfolio
- 8.2.6. Business Performance
- 8.2.7. Key Strategic Moves and Developments
8.3. Boston Scientific Corporation
- 8.3.1. Company Overview
- 8.3.2. Key Executives
- 8.3.3. Company Snapshot
- 8.3.4. Operating Business Segments
- 8.3.5. Product Portfolio
- 8.3.6. Business Performance
- 8.3.7. Key Strategic Moves and Developments
8.4. GE Healthcare
- 8.4.1. Company Overview
- 8.4.2. Key Executives
- 8.4.3. Company Snapshot
- 8.4.4. Operating Business Segments
- 8.4.5. Product Portfolio
- 8.4.6. Business Performance
- 8.4.7. Key Strategic Moves and Developments
8.5. IRhythm Technologies Inc
- 8.5.1. Company Overview
- 8.5.2. Key Executives
- 8.5.3. Company Snapshot
- 8.5.4. Operating Business Segments
- 8.5.5. Product Portfolio
- 8.5.6. Business Performance
- 8.5.7. Key Strategic Moves and Developments
8.6. Biotronik
- 8.6.1. Company Overview
- 8.6.2. Key Executives
- 8.6.3. Company Snapshot
- 8.6.4. Operating Business Segments
- 8.6.5. Product Portfolio
- 8.6.6. Business Performance
- 8.6.7. Key Strategic Moves and Developments
8.7. LivaNova PLC
- 8.7.1. Company Overview
- 8.7.2. Key Executives
- 8.7.3. Company Snapshot
- 8.7.4. Operating Business Segments
- 8.7.5. Product Portfolio
- 8.7.6. Business Performance
- 8.7.7. Key Strategic Moves and Developments
8.8. Baxter International Inc.
- 8.8.1. Company Overview
- 8.8.2. Key Executives
- 8.8.3. Company Snapshot
- 8.8.4. Operating Business Segments
- 8.8.5. Product Portfolio
- 8.8.6. Business Performance
- 8.8.7. Key Strategic Moves and Developments
8.9. Schiller AG
- 8.9.1. Company Overview
- 8.9.2. Key Executives
- 8.9.3. Company Snapshot
- 8.9.4. Operating Business Segments
- 8.9.5. Product Portfolio
- 8.9.6. Business Performance
- 8.9.7. Key Strategic Moves and Developments
8.10. Koninklijke Philips N.V.
- 8.10.1. Company Overview
- 8.10.2. Key Executives
- 8.10.3. Company Snapshot
- 8.10.4. Operating Business Segments
- 8.10.5. Product Portfolio
- 8.10.6. Business Performance
- 8.10.7. Key Strategic Moves and Developments