Overview
The global Arrhythmia Monitoring Devices Market, during the forecast period 2016 to 2024, will register growth at a CAGR of 6.44%. The market for arrhythmia monitoring devices is set to reach USD 8,087.4 million by 2024. As per the market analysts, the global market is anticipated to witness growth owing to the factors such as the growing usage of telecardiology as well as the on-going development of smart cardiac monitors. However, the market will face challenges and restraints due to product recalls and associated complications during the forecast period 2016 to 2024.
The portability of cardiac arrhythmia monitoring devices in the market is set to play a key role in determining the growth potential during 2016 to 2024years. Analysts have also studied the global market to understand potential threats and challenges the market companies could face. Although the market is poised to grow at a fast pace across device type, application, and end-user segments, factors such as the complications related to such devices could slow down the market’s growth worldwide.
Market Segmentation
The arrhythmia monitoring devices market has been segmented into device type, application, and end-user. Based on the segment which is device type, the market is categorized on the basis of event monitor, Holter monitor, resting ECG, and others. The global market for arrhythmia monitoring devices is further segmented based on application into tachycardia, bradycardia, and others. Furthermore, the market, on the basis of end-user is segmented into hospitals and clinics, and others.
Regional Overview
The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others.
Cardiac Monitoring Devices has seen increased demand over the years, due to the high accuracy and efficiency provided by arrhythmia detection and the growing requirement for continuous cardiac rhythm monitoring. Companies functioning in the global arrhythmia monitoring devices market are also being challenged due to the rise in recalls of arrhythmia monitoring devices and cost and budget related concerns among SMEs. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2016 to 2024. As the market is set to register a high CAGR of 6.44% and is also anticipated to reach a USD 8,087.4 million by 2024, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2024. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2016 to 2024.
Industry News
This year, the Marlborough, Massachusetts-based medical technology corporation increased its heart device acquisitions, taking a $90 million equity interest in valve treatment business Millipede and purchasing the remaining stock of ablation remote monitoring manufacturer Securus Medical Group for $40 million. Anti-arrhythmic medications or cardiac ablation, where in radiofrequency or cryothermal energy is applied to regions of the heart responsible for the disturbed heart rhythm, are often used to care for patients with heart failure, a common type of erratic heartbeat. Atrial fibrillation affects at least 2.7 million Americans, increasing the risk of blood clots and stroke.
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