all report title image
  • Published On : Jan 2022
  • Code : CMI4893
  • Industry : Medical Devices
  • Pages : 190
  • Formats :

The remote cardiac monitoring is a method by which the data from patients implanted rhythm management system can be transferred directly to the physician’s office. The physician treating a particular individual gets the information by using the integrated aerial in which the implant automatically sends medical and technical information from the heart. This gives access to the physician to monitor the accurate and current clinical information even if the patient is not in the hospital.

The remote patient monitoring device, monitors and captures medical and other health related data from the patients and transfers the information to healthcare suppliers for assessment as per recommended.

The cardiac remote patient monitoring device is estimated to be valued at US$ 396 Mn in 2021 and is expected to register a CAGR of 7.9% and reach US$ 680 Mn by 2028.

Figure 1. Global Cardiac Remote Patient Monitoring Device Market (US$ Mn), By Application, 2021

Cardiac Remote Patient Monitoring Devices  | Coherent Market Insights

Figure 1.1 Global Cardiac Remote Patient Monitoring Device Market (US$ Mn), By Application, 2028

Cardiac Remote Patient Monitoring Devices  | Coherent Market Insights

The increasing product launches and approvals are expected to drive the market growth over the forecast period.

For instance, in September 2021, VitalConnect Inc., head in remote and in hospital wearable biosensor technology, had introduced its latest version of VistaCenter for cardiac and remote patient monitoring. This latest version helps in making the patient management easier and less time-intensive for physicians.

CMI table icon

Cardiac Remote Patient Monitoring Device Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 396 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 7.9% 2028 Value Projection: US$ 680 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Applications: Cardiac Arrhythmia, Ischemic Diseases, Hypertension
  • By End Users: Application: Hospitals, Cardiac Clinics, Ambulatory Surgery Centers  
Companies covered:

A & D Medical, BIOTRONIK SE & Co. KG, Boston Scientific, GE Healthcare, Honeywell, Medtronic plc, Nihon Khoden, Philips Healthcare, Spacelabs Healthcare, Abbott Laboratories, St. Jude Medical, VitalConnect Inc., OSYPKA, MeTrax GmbH, and Lepu Medical Technology

Growth Drivers:
  • Increasing applications of cardiac monitors
  • Investments in R&D of heart diseases detection
Restraints & Challenges:
  • Risk of infection due to implantable monitoring devices
  • Lack of skilled personnel to operate and monitor devices

Global Cardiac Remote Patient Monitoring Device Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China.

In 83 participating centers, the use of remote monitoring has been increased due to COVID 19 pandemic. The rate of participating centers located in other regions was similar to the regions in which the use of remote monitoring was higher due to COVID-19 cases. The number of cardiovascular implantable electronic device patients followed up by remote monitoring increased from 15% to 30% in 2021. The difference in the centers situated for higher incidence of COVID-19 cases was not found as compared to the other centers. About 33% of the participating centers reported no increase in utilization of remote monitoring as a result of COVID-19 pandemic.

Organizational issues and personnel shortage, lack of perception of the need, were the most frequent reasons for less increase in number of patients followed up by remote monitoring.

Global Cardiac Remote Patient Monitoring Device Market - Restraint

As per stated in AHA Journals, complications can be seen frequently as the indications of CIEDs (Cardiovascular implantable electronic devices) increases. The general trend for increase in CIED infection is been noticed, because with the associated comorbidities people live longer.

The device infection rates ranges from 2% to 8%, as per the several observational studies. Moreover, the implantable cardioverter defibrillators have the higher rate of infection.

Key Players

Major players operating in the global cardiac remote patient monitoring device market include A & D Medical, BIOTRONIK SE & Co. KG, Boston Scientific, GE Healthcare, Honeywell, Medtronic plc, Nihon Khoden, Philips Healthcare, Spacelabs Healthcare, Abbott Laboratories, St. Jude Medical, VitalConnect Inc., OSYPKA, Lepu Medical Technology, and MeTrax GmbH.

Remote patient monitoring is a set of practices and technologies authorizing healthcare suppliers to follow real time variations in patient’s health data from space and utilize it in a particular treatment arrangement. Broader telehealth industry and e-health industry are integral component of cardiac remote patient monitoring.

Cardiac monitors are battery-powered devices that record the heart’s electrical activity. These are broadly classified into two categories:

External cardiac monitors – The conventional external heart monitors are designed for short-term use and include holter monitors, event monitors, and loop monitors. They are the most common monitors for diagnosing heart rhythm disorders that occur on a relatively frequent basis, typically attached with wires to the outside of a patient’s body for between 24 hours to 30 days.

Insertable and implantable cardiac monitors – The devices determine the causes of infrequent, unexplained arrhythmias are designed for long-term use (up to three years). The small devices are placed just under the skin to detect and record abnormal heart rhythms during outpatient procedures.

Market Dynamics

The increasing applications of cardiac monitors in continuous monitoring for observation of postoperative patients, patients with severe electrolyte imbalances, prompt identification and initiation of treatment for cardiac arrhythmias, and investments in R&D of heart diseases detection is expected to augment the market growth of the segment over the forecast period. Moreover, increasing adoption of inorganic growth strategies such as mergers, acquisitions, partnerships, and collaborations by key players operating in the market are the major factors that are expected to drive growth of the Global cardiac remote patient monitoring device market.

Key features of the study:

  • This report provides in-depth analysis of the global cardiac remote patient monitoring device market provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global cardiac remote patient monitoring device market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include A & D Medical, BIOTRONIK SE & Co. KG, Boston Scientific, GE Healthcare, Honeywell, Medtronic plc, Nihon Khoden, Philips Healthcare, Spacelabs Healthcare, Abbott Laboratories, St. Jude Medical, VitalConnect Inc., OSYPKA, MeTrax GmbH, and Lepu Medical Technology
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global cardiac remote patient monitoring device market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cardiac remote patient monitoring device market

Detailed Segmentation:

  • Global Cardiac Remote Patient Monitoring Device Market, By Application:
    • Cardiac Arrhythmia
    • Ischemic Diseases
    • Hypertension
  • Global Cardiac Remote Patient Monitoring Device Market, By End Users:
    • Hospitals 
    • Cardiac Clinics
    • Ambulatory Surgery Centers
  • Global Cardiac Remote Patient Monitoring Device Market, By Region:
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • Central Africa
      • North Africa
  • Company Profiles
    • A & D Medical*
      • Company highlights
      • Product Portfolio
      • Key Highlights
      • Financial performance
      • Strategies
    • BIOTRONIK SE & Co. KG
    • Boston Scientific
    • GE Healthcare
    • Honeywell
    • Medtronic plc
    • Nihon Khoden
    • Philips Healthcare
    • Spacelabs Healthcare
    • Abbott Laboratories
    • Jude Medical
    • VitalConnect Inc.
    • OSYPKA
    • MeTrax GmbH
    • Lepu Medical Technology

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The cardiac remote patient monitoring device market is estimated to be valued at US$ 396 million in 2021 and is expected to exhibit a CAGR of 7.9% over the forecast period (2021-2028).
The increasing applications of cardiac monitors, investments in R&D of heart disease detection are the major factors which are expected to drive the market growth over the forecast period. 
Cardiac monitors is expected to hold major market share. Cardiac monitoring allows for continual observation of several patients with heart disorders, with the most common uses in emergency rooms and critical care areas.
Major factors hampering growth of the market include risk of infection due to implantable monitoring devices, lack of skilled personnel to operate and monitor devices.
Major players operating in the market include A & D Medical, BIOTRONIK SE & Co. KG, Boston Scientific, GE Healthcare, Honeywell, Medtronic plc, Nihon Khoden, Philips Healthcare, Spacelabs Healthcare, Abbott Laboratories, St. Jude Medical, VitalConnect Inc., OSYPKA, MeTrax GmbH, and Lepu Medical Technology.

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo