Global Cardiac Remote Patient Monitoring Devices Market, by Application (Cardiac Arrhythmias, Ischemic Diseases, and Hypertension), by End Users (Hospitals, Cardiac Clinics, Ambulatory Surgery Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 396 in 2021 and is expected to exhibit a CAGR of 7.9% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For instance, in July 2021, Abbott Laboratories, introduced the U.S. launch of Jot Dx the organization’s new Insertable cardiac monitor (ICM). It can help in giving the clinicians and hospitals the flow of information by a feature to go through all uncommon heart rhythm details to clarify which irregular heart rhythms are recorded with ‘key episodes’ option.
Global Cardiac Remote Patient Monitoring Devices Market – Impact of Coronavirus (COVID-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 260 million cases and 5.2 million deaths due to Coronavirus (COVID-19) were reported up till November 29, 2021, across the globe.
The groundwork for effective RPM (Remote Patient Monitoring) usage has significantly increased due to COVID-19 by clinicians and patients. The organizations attempting to restart normal business operations due to increased awareness of RPM products is expected to increase at-home utilization by particular individuals. This acute acceleration of market growth will be sustained by market expansion benefiting payers and providers through economies of scale, increasing ease of use of home-based RPM devices, increasing need for improved healthcare in rural areas, the increasing ageing population and increased incidences of chronic diseases in the U.S. and Europe.
Browse 20 Market Data Tables and 35 Figures spread through 190 Pages and in-depth TOC on “Global Cardiac Remote Patient Monitoring Devices Market”- Global Forecast to 2028, by Application (Cardiac Arrhythmia, Ischemic Diseases, and Hypertension), by End Users (Hospitals, Cardiac Clinics, Ambulatory Surgery Centers) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, launches, collaborations, and acquisitions, in order to strengthen their position in the global market. For instance, in August 2021, Cardiologs, a medical technology company committed to transforming cardiac diagnostics, launched a remote patient monitoring platform created to permit data from smartwatches to be involved in remote arrhythmia monitoring systems. It includes transmit data for patients and cloud-based platform for physician to centralize, simplify the data, as per the press release from the organization.
Key Takeaways of the Global Cardiac Remote Patient Monitoring Devices Market
- Global Cardiac Remote Patient Monitoring Devices Market is expected to exhibit a CAGR of 7.9% over the forecast period, owing to rising launches, agreement and regulatory approvals of products. For instance, in January 2021, Boston Scientific, is a leading innovator of less invasive medical solutions that help people around the world live longer, entered into the agreement to acquire Preventice Solutions, Inc., a privately held organization, which provides full portfolio of cardiac health solutions and facilities.
- Among product type, cardiac monitors is expected to account for largest market share during the forecast period. The cardiac monitors segment 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.
- Major players operating in the global Cardiac Remote Patient Monitoring Devices 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
