PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420395
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1420395
According to a recent market analysis conducted by Fairfield Market Research, the global cardiac arrhythmia monitoring devices market is on a trajectory of robust growth and is expected to achieve significant market value by the end of the assessment period. This market has been consistently witnessing an upward growth trend in recent years, with a stellar Compound Annual Growth Rate (CAGR) projected throughout the forecast period 2024-2031.
Surpassing Growth Expectations
The global cardiac arrhythmia monitoring devices market is estimated to exhibit substantial growth, surpassing a valuation of US$ 12 billion by the end of the assessment year, up from just over US$ 8 billion in 2024. Several factors are driving this impressive growth, including advancements in cardiac arrhythmia monitoring devices, favorable reimbursements for cardiac disorder treatments, a surge in cardiovascular disease cases, a growing focus on healthcare cost containment, increased adoption of low-cost ECG services among lower-income groups, and supportive government policies for startup companies.
Key Market Trends
Market trends such as the increasing adoption of cardiac telemetry monitors and services and the growing use of Electronic Medical Record (EMR) systems are significantly boosting the demand for ECG data management solutions within large integrated health systems.
Asia Pacific Emerging as Investment Hotspot
Countries in the Asia Pacific region, particularly China and India, are emerging as investment hotspots due to their higher growth rates in diagnosis, treatment, and research activities, quality improvements, increasing partnerships, and healthcare modernization efforts.
Advancements Drive Market Expansion
Manufacturers of ECG monitoring devices are focusing on developing advanced ECG monitoring devices, including cardiac telemetry monitors and implantable cardiac monitors with advanced features. This innovation is expected to indirectly boost the demand for cardiac arrhythmia monitoring devices and propel the services and software market in the long run.
Growing Demand for High-End ECG Monitoring Devices
The increasing demand for advanced ECG monitoring devices from end-users such as hospitals, ambulatory surgical centers, diagnostic centers, homecare settings, and emergency medical services is creating opportunities for the launch of novel ECG monitoring devices in the market. ECG monitoring devices and services have witnessed significant growth in usage, penetrating various healthcare departments, including mobile cardiac outpatient telemetry and electronic medical record (EMR) data management.
Resting ECG Devices Take the Lead
Within the product type category, resting ECG devices, which detect arrhythmias while patients are in a resting position, have dominated the global market and are expected to maintain their status as the market leader. The resting ECG devices segment is estimated to reach a market valuation of more than US$ 2.8 billion by the end of the assessment year, reflecting a growth rate of 4.6% during the forecast period.
Holter Monitors and Mobile Cardiac Telemetry Monitors Show Promise
Holter monitors, portable ECG devices worn by patients to continuously record heart activity, and mobile cardiac telemetry monitors, which monitor heart electrical activity for extended periods, are expected to exhibit similar growth rates throughout the forecast period. However, the mobile cardiac telemetry monitors segment is projected to hold a higher market share by the end of 2031.
Market Segmentation
By Product type
By End User
By Application
By Region