The global cardiac monitoring and cardiac rhythm management market is growing at a CAGR of 4.1% during 2021-2027 owing to the rising prevalence of cardiovascular diseases, availability of reimbursement policies for CM and CRM devices, innovative product launch by industry players, growing investment, funds and grants for R&D activities on CM and CRM devices, and growing popularity of wearable cardiac devices. Moreover, the advancement of innovative new MRI-labeled devices and growing opportunities in developing economies will create promising opportunities for growth in the global cardiac monitoring and cardiac rhythm management market.

In addition, the rising adoption of cardiac monitoring in ambulatory and home services, introduction of developed cardiac devices like subcutaneous ICDs, Automated External Defibrillators (AEDs), MRI pacemakers will drive the growth of the global cardiac monitoring and cardiac rhythm management market.

Cardiac monitoring (CM) devices help to monitor a patient's cardiac activity on a continuous basis. Cardiac Rhythm Management (CRM) devices maintain normal cardiac rhythms in patients with heart rate and rhythm disorders. These devices play an important role in the treatment of severe heart disease, including heart failure, atrial fibrillation, atrial flutter, and signs of recent heart attacks.

The COVID-19 pandemic has led to the preference for remote monitoring of patients with cardiovascular conditions as a result various startups have launched products and services for remote monitoring of cardiac patients. For example, medical technology giants such as AliveCor, iRhythm, and Medtronic are actively involved in the manufacture of cardiac monitoring EKG machines for cardiac patients who are at home and clinicians to use on COVID 19 patients.

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Octagos Health has launched a remote monitoring software platform that enables cardiologists and cardiac electrophysiologists to monitor the real-time data from a patient's implantable cardiac devices.

Based on product, ECG devices dominate the market in the global cardiac monitoring devices market owing to technological development like the incorporation of developed algorithms and workflow features like touchscreen systems, portable, wireless technology, cardiovascular information systems (CVIS), Electronic Medical Records (EMRs), and ECG management devices.

Based on product, defibrillators dominate the Cardiac Rhythm Management (CRM) devices market in 2020 owing to the rising prominence of CVD, growing incidences of sudden cardiac arrest and cardiovascular disorders, rising demand for quality medical care, and technological development in defibrillators. Moreover, the next-generation external defibrillators will enhance safety and effectiveness and will propel the growth of the segment.

North America dominates the global cardiac monitoring and cardiac rhythm management owing to the rising disposable income, growing geriatric population, technology development like long battery life, miniaturization, enhancing rate of government regulatory approvals. Moreover, the rising cases of cardiac disorders like cardiac arrests, heart failure, and cardiac arrhythmias, are increasing at a robust rate in the U.S., which is further propelling the growth of cardiac monitoring and cardiac rhythm management in the region.

Abbott Laboratories has launched a Gallant implantable cardiovascular defibrillator (ICD) in Europe to have a developed cardiac rhythm management capability, resulting in increasing penetration in the market.

The prominent players in the global cardiac monitoring and cardiac rhythm management industry include Medtronic PLC, Cardiac Science, Abbott, Biotelemetry, Boston Scientific, Schiller, GE Healthcare, Koninklijke Philips N.V., Biotronik, Livanova, Hill-Rom Holdings, and Applied Cardiac System.

Source: VynZ Research