Global Cardiac Monitoring Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Cardiac Monitoring Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Product (Cardiac Rhythm Management Devices, and Cardiac Monitoring Devices), End Use (Home Healthcare, Ambulatory Centers, Hospitals, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Cardiac Monitoring Market was valued at USD 8,857.3 million in 2023 and is expected to reach USD 17,137.2 million by 2031 while growing at a CAGR of 8.6% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global cardiac monitoring market growth. Cardiac monitoring involves observing the electrical activity of the heart to ensure its normal function. This is achieved by placing five small stickers, known as electrodes, on the body, which are then connected to either a telemetry box or a wall monitor. The electrical signals are transmitted to a dedicated screen at the nurses' station, allowing ward staff to continuously monitor the heart activity round the clock.
The growth of the cardiac monitoring market is driven by the increasing prevalence of cardiovascular diseases and continuous advancements in monitoring technologies, including the development of portable monitors, wireless connectivity, and remote monitoring capabilities, enhancing accuracy, convenience, and accessibility. However, hindrances such as cost constraints and regulatory compliance pose challenges to further market expansion.
Furthermore, the global cardiac monitoring industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Product Analysis
The Global Cardiac Monitoring Market is segmented among Cardiac Rhythm Management Devices, and Cardiac Monitoring Devices, based on Product. In 2023, Cardiac Rhythm Management Devices accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By End User Analysis
The Global Cardiac Monitoring Market is segmented among Home Healthcare, Ambulatory Centers, Hospitals, and Others, based on End User. In 2023, Home Healthcare accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Cardiac Monitoring Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, iRhythm Technologies Inc, Biotronik, Livanova PLC, Baxter (Hill-Rom Holdings, Inc), Schiller AG, and Koninklijke Philips N.V. (Biotelemetry).
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Cardiac Monitoring Market Dynamics
Drivers
Restraints
Opportunity
4. Global Cardiac Monitoring Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Cardiac Monitoring Market Segmentation, By Product
Global Cardiac Monitoring Market Share Analysis, By Product
Global Cardiac Monitoring Market Growth Analysis, By Product
Global Cardiac Monitoring Market Trends, By Product
o Cardiac Rhythm Management Devices
o Cardiac Monitoring Devices
6. Global Cardiac Monitoring Market Segmentation, By End-users
Global Cardiac Monitoring Market Share Analysis, By End-users
Global Cardiac Monitoring Market Growth Analysis, By End-users
Global Cardiac Monitoring Market Trends, By End-users
o Home Healthcare
o Ambulatory Centers
o Hospitals
o Others
7. Global Cardiac Monitoring Market Segmentation, By Region
Global Cardiac Monitoring Market Share Analysis, By Region
Global Cardiac Monitoring Market Growth Analysis, By Region
Global Cardiac Monitoring Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
Medtronic PLC*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
Abbott Laboratories
Boston Scientific Corporation
GE Healthcare
iRhythm Technologies Inc
Biotronik
Livanova PLC
Baxter (Hill-Rom Holdings, Inc)
Schiller AG
Koninklijke Philips N.V. (Biotelemetry)
*Similar analysis will be provided for each company listed above.