Market Research Report
Europe Cardiac Monitoring Market - Segmented by Type of Device and Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||660536|
|Published||Content info||95 Pages
Delivery time: 1-2 business days
|Europe Cardiac Monitoring Market - Segmented by Type of Device and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: April 1, 2018||Content info: 95 Pages||
The Europe Cardiac Monitoring Market is expected to register a CAGR of 4.5% during the forecast period of 2018-2023. Cardiac monitoring devices are used to monitor and diagnose various abnormalities or disorders of the heart and the overall cardiovascular system.
Cardiovascular disease (CVD) causes more than half of all the deaths across the European region. In Europe, CVD causes 46 times the number of deaths and 11 times the disease burden caused by AIDS, tuberculosis, and malaria combined. The rate of diagnosis of cardiovascular diseases is increasing over time due to high incidence rate of cardiac diseases and the need to control mortality rate by early diagnosis, and treatment for CVD with the help of cardiac monitoring devices. Hence, rise in the incidence of cardiovascular diseases drives the market. The other factors, such as investments in R&D of heart disease detection, ease of use and portability in devices, and the demand for home-based, point of care and remote monitoring cardiac systems are the major drivers for the market.
Cardiac monitoring device is used by patients who require continuous monitoring of the heart for better treatment. Monitoring the cardiac output is a common practice in patients who undergo surgeries, as they will be under anesthesia and critical care. Cardiac implantable devices are used for related cardiac surgeries to monitor heart rate continuously. The patients who undergo any invasive procedures are at a risk of infection. The rising rate of infections due to these devices has tremendous economic implications on hospitals. Patients who are implanted with these monitoring devices are likely to require prolonged hospital stays, and the related costs rack up quickly. However, minimally invasive cardiac output monitors for clinical practice have been introduced into the market, which do not require the insertion of pacemaker. These devices utilize different techniques to monitor, and each has their own sources of potential errors and degree of invasiveness. Hence, the risk of infection due to implantable medical devices is a constraint for the market. The other factors, such as the low level of accuracy with invasive cardiac output monitoring devices and the stringent FDA and validator regulations are the major restraints for the cardiac monitoring market.
In 2017, Germany held the largest share in the cardiac monitoring market in Europe due to the large patient pool and wide acceptance of the advanced technology.
September 2017: ABBOTT Confirm Insertable Cardiac Monitor (ICM) is the world's first and only smartphone compatible ICM, which got FDA clearance.
July 2017: GE Healthcare collaborated with Heartflow technologies to provide better care of coronary artery patients.
The major players: CARDIAC SCIENCE CORPORATION, GE HEALTHCARE, MEDTRONIC PLC, MENNEN MEDICAL, PHILLIPS HEALTHCARE, SIEMENS AG, ROCHE DIAGNOSTICS, CANON MEDICAL SYSTEMS CORPORATION, AND WELCH ALLYN, among others.
Current and future Europe cardiac monitoring market outlook in the developed and emerging markets.
Analyzing various perspectives of the market with the help of Porter's Five Forces Analysis.
The segment that is expected to dominate the market.
Regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst support along with the Market Estimate sheet (in Excel).
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