Cardiac monitors are devices that represent the heart’s electrical activity in the form of pressure waveforms. They monitor the continuous and intermittent heart activity, usually through electrocardiography. Cardiac rhythm management devices are used when the heart does not function efficiently. They are placed inside the cardiac walls for smooth and proper functioning of the heart. The global cardiac monitoring and cardiac rhythm management devices market is driven by increasing incidence of cardiovascular diseases at an early age, rising obese population, increase in geriatric population, and technological advancements in treatment options. However, factors such as high cost incurred for the diagnosis and treatment of cardiovascular diseases and fewer reimbursement policies in countries in Asia Pacific are likely to restrain the global cardiac monitoring and rhythm management devices market.
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The global cardiac monitoring and rhythm management devices market can be segmented based on product, end-user, and geography. In terms of product, the cardiac monitoring and cardiac rhythm market can be classified into cardiac monitoring devices and cardiac rhythm monitoring devices. The cardiac monitoring devices segment can be further divided into ECG devices, implantable loop recorders, cardiac output monitoring (COM) devices, event monitor, mobile cardiac telemetry monitoring (MCT/MCOT), and smart wearable ECG monitors. The ECG devices sub-segment can be further classified based on product and lead. In terms of product, the ECG devices sub-segment can be categorized into resting ECG systems, stress ECG systems, and Holter monitors. Based on lead, the ECG devices sub-segment can be divided into single-lead ECG lead wires, ECG lead wires, and other ECG lead wires. The cardiac output monitoring (COM) devices sub-segment can be further categorized into minimally invasive COM devices and non-invasive COM devices. The event monitoring devices sub-segment can be classified based on product and technology. In terms of product, the event monitoring devices sub-segment can be split into pre-symptom (memory loop) and post-symptom event monitor. Based on technology, the event monitoring devices sub-segment can be further divided into autodetect monitor and manual event monitor.
The cardiac rhythm management devices segment can be further classified into defibrillators and pacemakers. The defibrillators sub-segment can be further categorized into implantable cardioverter defibrillators and external defibrillators. Implantable cardioverter defibrillators can be further divided into transvenous implantable cardioverter defibrillators and subcutaneous implantable cardioverter defibrillators. The transvenous implantable cardioverter defibrillators can be further classified into biventricular ICDS/cardiac resynchronization therapy defibrillators, dual-chamber ICDS, and single-chamber ICDS. External defibrillators can be further split into automated external defibrillators, manual external defibrillators, and wearable cardioverter defibrillators. Automated external defibrillators can be further split into fully automated external defibrillator and semi-automated external defibrillators. The pacemakers sub-segment can be further divided based on implantability and type. In terms of implantability, the pacemakers sub-segment can be further classified into implantable pacemakers and external pacemakers. Based on type, the pacemakers sub-segment can be further split into dual-chamber pacemakers and single-chamber pacemakers. In terms of end-user, the cardiac monitoring and cardiac rhythm management devices market can be segmented into hospitals, homecare, and ambulatory care settings.
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Based on geography, the cardiac monitoring and cardiac rhythm management devices market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to dominate the global cardiac monitoring and cardiac rhythm management devices market due to rise in awareness regarding use of diseases and available treatment options. Asia Pacific is anticipated to be a region with potential of the global cardiac monitoring and cardiac rhythm management devices market due to increasing incidence of cardiovascular diseases, increasing awareness among the population about regular checkups, availability of a number of treatment options, and availability of skilled health care professionals. Latin America and Middle East & Africa are emerging regions of the market, with a large potential.
The prominent players in cardiac monitoring and cardiac rhythm management devices market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, and Philips Healthcare, Biotronik, Cardiac Science, Livanova, Hill-Rom Holdings, Schiller AG, Biotelemetry, and Applied Cardiac System, among others.
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