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Cardiac monitoring devices enable continual observation of patients with heart disorders. These devices are commonly used in emergency rooms and critical care units and primarily in arrhythmias to monitor the rate of heartbeats. Common types of cardiac monitoring devices include holter monitors, event monitors, loop monitors, and insertable cardiac monitors. The additional parameters monitored noninvasively by cardiac monitors include blood pressure, cardiac output, intravascular pressures, arterial blood oxygen saturation, and blood temperature.

Rise in incidence of cardiovascular diseases such as cardiac arrthymia, ischemic heart disease, and hypertension is expected to fuel growth of the cardiac monitoring devices market. According to World Health Organization (WHO), 2015, cardiovascular diseases was the leading cause of deaths accounting for 17.7 million deaths, globally. Furthermore, increasing applications of cardiac monitors in continuous monitoring for patients with severe electrolyte imbalances and for postoperative observation is expected to augment the market growth over the forecast period.

Development of technologically advanced cardiac monitoring devices is expected to boost the cardiac monitoring devices market growth over the forecast period

Development of advance cardiac monitoring devices such as remote cardiac monitoring devices and wireless cardiac monitoring devices providing early detection is a major factor expected to boast the cardiac monitoring devices market growth over the forecast period. For instance, ZywiePro, the next-generation cardiac remote monitoring solution launched in 2015, leverages mobile and cloud technology to facilitate detection of cardiovascular arrhythmias. ZywiePro enables physicians to provide more personalized and effective patient care by detailed diagnostic insight into the cardiovascular health of the patients. However, factors inhibiting the cardiac monitoring devices market include high cost of device and lack of knowledge about advance cardiac monitoring devices.

Advance cardiac monitoring devices enable physician to make accurate diagnosis and determine a treatment plan. For instance, the Reveal LINQ Insertable Cardiac Monitor manufactured by Medtronic, approved by FDA in 2014, is currently the smallest heart monitor in the market. It can diagnose the cause of infrequent, unexplained fainting spells better than conventional testing.

Market Taxonomy:

The global cardiac monitoring devices market is segmented on the basis of product type, application, end user, and geography.

On the basis of product type, the cardiac monitoring devices market in segmented into:

  • Holter Monitor
  • Event Monitor
  • Loop Monitor
  • Insertable Cardiac Monitor (ICM)
  • Mobile Cardiac Telemetry Devices

On the basis of application, the cardiac monitoring devices market in segmented into:

  • Arrhythmia
  • Coronary Artery disease
  • Hypertension
  • Ischemic Heart Disease

On the basis of end user, the cardiac monitoring devices market in segmented into:

  • Hospital
  • Diagnostic Centers
  • Ambulatory Surgical Centers

North America is expected to dominate the cardiac monitoring devices market over the forecast period, owing to increasing prevalence of cardiovascular diseases in the region

Regional segmentation of cardiac monitoring devices market by Coherent Market Insights comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in global cardiac monitoring devices market over the forecast period, due to increasing prevalence of cardiovascular diseases in the region. According to the American Heart Association (AHA), 2017, about 92.1 million adults in the U.S. are suffering from some form of cardiovascular disease or the after-effects of stroke. AHA also stated in its report, that direct and indirect costs of cardiovascular diseases and stroke are estimated to account for US$ 316 billion, including health expenditures and lost productivity. Growth in Europe market is driven by emergence of innovative cardiac solutions offered by regional manufacturers and rising cases of cardiovascular diseases. For instance, LifeWatch —manufacturer of two innovative Mobile Cardiac Telemetry (MCT) solutions — LifeWatch MCT 3 Lead and LifeWatch MCT 1 Lead Patch detects, records, and wirelessly transmits asymptomatic and symptomatic arrhythmia to clinicians for analysis. According to European Heart Network and European Society of Cardiology 2015, over 85 million people suffer from cardiovascular disease (CVD) every year, causing over 4 million deaths in Europe.

Asia Pacific is also expected to witness high growth. This is attributed to availability of technological advanced products and rising healthcare concern for stroke prevention associated with atrial fibrillation. According to the Japanese Heart Rhythm Society in 2017, the Asian population with atrial fibrillation (AF) is estimated to reach 72 million by 2050, of whom 2.9 million may suffer from AF-associated strokes.

Increasing FDA clearance for new and innovative products is a major factor fueling cardiac monitoring devices market growth

In 2016, the FDA approved wireless continuous non-invasive 'Beat-by-Beat' blood pressure and heart rate monitor manufactured by CareTaker Medical based on patented finger cuff technology. The device allows physicians to remotely monitor medical-grade continuous blood pressure and heart rate from anywhere, using only a patient friendly-finger cuff. Key players in cardiac monitoring devices market are Philips Healthcare, Medtronic, Boston Scientific, Cardiac Science, LifeWatch, CareTaker Medical, Spacelabs, St. Jude Medical, Kohden, CardioNet, and Mortara Instrument.


Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users