Cardiac Ambulatory Monitoring Market

Cardiac Ambulatory Monitoring Market Snapshot (2022 to 2032)

The global cardiac ambulatory monitoring market enjoys a valuation of USD 13.3 Billion in 2021, and it is further projected to expand at a CAGR of 5.2% over the forecast years. According to a recent study by Future Market Insights, ECG devices are leading the cardiac ambulatory monitoring market with a share of about 42.2 % in the year 2021.

Market Outlook:

Data Points	Market Insight
Market Value 2021	USD 13.3 Billion
Estimated market Value 2022	USD 13.9 Billion
Estimated market Value 2032	USD 21.6 Billion
CAGR of 2022 to 2032	4.5 %
Market share of Top 5 countries	61.3 %
Key Market players	Medtronic plc; Abbott Laboratories; Boston Scientific Corporation; GE Healthcare; iRhythm Technologies Inc; Biotronik; Schiller; Medicomp Inc.; Koninklijke Philips N.V.; Applied Cardiac System; and MicroPort

Ambulatory cardiac monitors are electrocardiograph devices that can record the heart's rhythm. The characteristics of these monitors vary depending on how long they can record and whether they can deliver recordings over the phone.

The majority of qualified professionals utilize ambulatory cardiac monitors to check heartbeat rate over time, correlate symptoms with the heartbeat, identify irregular heart rhythms, and examine additional symptoms a heart may present. With longer detection times and more accurate data, these devices provide assistance in heart monitoring.

Cardiac ambulatory monitoring devices help doctors identify irregular cardiac rhythms that occur occasionally and unexpectedly.

Sales Analyses of Cardiac Ambulatory Monitoring Market 2015 to 2021 Vs Market Outlook for 2022 to 2032

Between 2015 and 2021, the cardiac ambulatory monitoring market grew at a CAGR of 5.2%.

The global market for cardiac ambulatory monitoring held around 59.1% share within the global cardiac monitoring devices market, worth around USD 22.5 Billion, in 2021.

Some of the most important CVD (cardiovascular disease) risk factors are family history, ethnicity, and age. Diabetes, inactivity, tobacco use, a poor diet, high cholesterol, obesity, high blood pressure (hypertension), and alcohol consumption are all risk factors. The prevalence of diseases like hypertension, diabetes, dyslipidemia, and obesity has increased due to changes in lifestyle, which also contributes to the global rise in the risk of CVD.

In the European Union, more than 60 million people have cardiovascular disease, and about 13 million new cases are diagnosed each year, according to statistics published by the European Society of Cardiology in June 2020. The market for cardiac ambulatory monitoring is anticipated to expand as a result of the rising prevalence of cardiovascular illnesses and the consequent rise in the demand for patient monitoring systems.

As per the data provided by WHO, cardiovascular diseases are the most common cause of death worldwide, claiming an average of 17.9 million lives yearly. Furthermore, according to the same data from the WHO, stroke and heart attacks account for the majority of deaths than other cardiovascular disease deaths, and the majority of these deaths are reported to happen before the age of 70. The majority of CVD deaths occur in growing economies.

The development of the market is anticipated to be fuelled by advanced product launches and strategic initiatives by major market competitors. For instance, in June 2021, AliveCor purchased CardioLabs, an industry-leading provider of monitoring and cardiac diagnostic services, from an independent diagnostic testing facility (IDTF). The acquisition was a key component of AliveCor's objective to offer a full range of cardiac diagnostic services to patients for whom their doctors have prescribed monitoring devices.

Thus, the above-mentioned factors are expected to act as possible market drivers to propel the global cardiac ambulatory monitoring market during the forecast period.

Download Report Brochure

What are the Opportunities for the Manufacturers Operating within the Global Cardiac Ambulatory Monitoring Market to Expand In The Future?

One of the main drivers of the growth of the cardiac ambulatory monitoring market is the usage of the most cutting-edge and minimally invasive surgical techniques to enhance patients' heart activity and amplify the results of various cardiac surgeries.

Furthermore, the market for cardiac ambulatory monitoring is predicted to grow as demand for advanced cardiac devices such as implantable loop recorders, event monitors, mobile cardiac telemetry, and Holter monitors grows. Additionally, favorable reimbursement practices, rising public and private healthcare spending, and other key aspects are driving the cardiac ambulatory monitoring market.

Cardiovascular monitoring devices have significantly improved as a result of recent advancements in heart monitoring equipment, particularly mobile cardiac telemetry (MCT) systems.

Moreover, to enhance CIED (cardiac implantable electronic devices) stability in the subcutaneous pocket and elute the antibiotics minocycline and rifampin, Medtronic offers an absorbable, multifilament mesh envelope (TYRX Absorbable Antibacterial Envelope).

Implantable cardioverter defibrillators (ICDs) and pacemakers are only a couple of examples of CIEDs that can be used with these envelopes. The envelope reduced the incidence of infection by 40% when compared to regular infection prevention alone.

The abovementioned factors are capable of serving as some lucrative opportunities for manufacturers operating in the cardiac ambulatory monitoring market.

What are the Probable Factors Restraining the Demand within the Cardiac Ambulatory Monitoring Market?

When used to treat cardiac arrhythmias, CIEDs are linked to improved quality of life and survival rates. However, a significant risk factor for using these devices is CIED-associated infections. Patients with implantable cardioverter defibrillators or cardiac resynchronization therapy defibrillators are most likely to get CIED infections. The rate of CIED infections was 1.19% for pacemakers, 1.91% for implantable cardioverter-defibrillators, 2.18% for cardiac resynchronization therapy pacemakers (CRT-Ps), and 3.35% for CRT defibrillators, according to the European Heart Journal (CRTDs).

Medical device cybersecurity issues, particularly those in CIEDs that could be reprogrammed or rendered useless, are a major source of concern for both patients and healthcare professionals.

Mobile phones and mp3 players, metal detectors, magnets, high-voltage electrical wires, and electrical devices like toothbrushes, shavers, and microwaves can also hamper signals if the monitoring devices are in close proximity.

Self-care Management and Long-term ECG Monitoring Drive USA. Cardiac Ambulatory Monitoring Market Growth

• By 2021, the USA. the market for ambulatory cardiac monitoring devices would be worth USD 4.6 Billion
• The cardiac ambulatory monitoring market in the USA is projected to grow at a CAGR of 7.4% from 2022 to 2032.
• Approximately USD 9.0 Billion is expected to be generated by the ambulatory cardiac monitoring devices market by the end of 2032 in the USA.

A growing number of cardiovascular surgeries has led to the use of ambulatory cardiac monitoring devices to continuously monitor cardiovascular patients in the USA. Ambulatory cardiac monitoring devices are currently required to track and monitor the heart to prevent fatal outcomes from cardiovascular diseases. Approximately 40,000 children in the USA. undergo congenital heart surgery each year, according to an article published in October 2020 titled, National Variation in Congenital Heart Surgery Outcomes.

ECG devices record heartbeats using electrical impulses, amplified and displayed on an ECG display. They are used to diagnose heart diseases and arrhythmias in a person and to help determine the most appropriate treatment. Electrocardiograms can be obtained at home with a portable ECG device, thanks to advances in technology. More than 60% of the global population suffers from cardiovascular diseases, according to the World Health Organization.

The ambulatory cardiac monitoring devices market in the USA. is consolidated, with the presence of a small number of leading players. Several companies are investing heavily in research and development activities, mainly to introduce advanced ambulatory cardiac monitoring devices to the market. To increase revenue and market share, key players form strategic alliances. They also diversify their product portfolios and acquire other companies.

There are several prominent players operating in the USA, ambulatory cardiac monitoring devices market, including Abbott Laboratories, Biotronik, Boston Scientific Corporation, Hill-Rom Holdings, GE Healthcare, Koninklijke Philips N.V., Medtronic, and Nihon Kohden Corporation.

The Portrait Mobile wireless patient monitoring system, announced by GE Healthcare in June 2022, provides continuous monitoring throughout a patient's stay. The system helps clinicians detect the deterioration of the patient. In addition to reducing the length of stay and ICU admissions, early detection of patient deterioration may improve patient outcomes.

Increased Prevalence of Obesity across all Age Groups in Europe Spurs Demand for Cardiac Ambulatory Monitoring

Germany dominates the European cardiac ambulatory monitoring market by achieving a valuation of USD 0.79 Billion. This is despite retaining a market share of about 5.6% in the global market, in 2022. Europe is one of the largest markets for cardiac ambulatory monitoring across the globe. As the population ages, cardiac issues are on the rise.

Additionally, wearable devices for ambulatory cardiac monitors that incorporate advanced software, analytical tools, and artificial intelligence have been introduced to satisfy the increasing demand for holistic, multi-input, and patient-driven devices for complex physiology. As an example, Cambridge Heartware, a United Kingdom-based healthcare company, has introduced a wearable heart monitor that sends recorded data to the cloud so adaptive artificial intelligence algorithms can diagnose irregular heart rates that are clinically relevant.

Moreover, minimally invasive diagnostic tools and preventative healthcare devices are driving the market. In addition, governments in the region are creating awareness of cardiovascular disorders, which is driving the market forward.

Due to a large number of large, medium, and small players, the European cardiac monitoring market is extremely fragmented and specialized. To improve their market position, multinational players hold a substantial share of the cardiac monitoring market. To enhance their market presence, companies are focusing on several growth strategies, including mergers and acquisitions, partnerships, collaborations, and geographical expansions.

Japan Cardiac Ambulatory Monitoring Market is Fuelled by the Adoption of Minimally Invasive Procedures

According to the forecast, Japan’s cardiac ambulatory monitoring market may grow at a CAGR of 3.1% in the forecasted period. The increasing cardiovascular disease burden and the increased adoption of minimally invasive procedures are driving the market growth in Japan's cardiac ambulatory monitoring market.

In December 2021, the National Cerebral and Cardiovascular Center, Japan, estimated that approximately 1.2 million Japanese people would suffer from heart failure by 2020. Additionally, based on the same source, heart failure patients are expected to increase in Japan, where people live to be 100 years old. This is because cardiovascular disease prevalence increases with age. Heart failure is one of the most prevalent conditions in Japan, which is expected to drive the adoption of cardiovascular devices.

Japan is also one of the nations with the fastest-aging population in the world. According to World Data 2022, there were 28% of people aged 65 and above in 2020 and 29% in 2021. The increase in the geriatric population in Japan is expected to drive market growth because geriatric people are more likely to suffer from chronic diseases like cardiovascular diseases.

Increased initiatives from key players in the market are also expected to drive market growth in Japan due to the rise in sales of cardiac ambulatory monitoring products. A distribution agreement between Rampart IC and Japan Lifeline (JLL) was signed in March 2022, securing distribution in the Japanese market. In addition to being designed for interventional cardiologists, the Rampart M1128 has been applied to a variety of interventional specialties.

As a result of these distribution partnerships, cardiovascular devices may be adopted more widely, driving market growth. For instance, As of January 2022, Medtronic's Micra AV Transcatheter Pacing System (TPS) has been approved and reimbursed by Japan's Ministry of Health, Labor, and Welfare. The company is preparing to launch the device.

Changing Lifestyles Result in a Higher Burden of Chronic Diseases in Korea, which Drives the Market

The increasing prevalence of chronic diseases such as cardiovascular diseases among the population is expected to increase the demand for cardiac ambulatory monitoring devices, thereby propelling the cardiac ambulatory monitoring market growth in Korea. In addition, the growing geriatric population is also contributing to the market's growth.

According to the United Nations Population Fund's 2022 statistics, in Korea, 71% of the population is aged 15-64, which constitutes a large proportion of the living population. Additionally, according to the same source, 17% of the population will be 65 years or older by 2022. Thus, chronic disease is more likely to develop in the geriatric population.

Furthermore, the rising product launches and company activities in Korea are also expected to boost the cardiac ambulatory monitoring market over the forecast period. A South Korean healthcare start-up, Sky Labs, launched a wearable, ring-type heart rhythm monitoring device in November 2021 that detects atrial fibrillation (AF) and prevents heart-related problems. Additionally, Samsung launched in Korea a Health Monitoring Application, which can monitor blood pressure and ECGs.

Country Wise Insights

How is the USA. Dominating the North American Cardiac Ambulatory Monitoring Market?

As of 2021, the USA. held the greatest share of the global market at about 34.6% and generated revenue of around USD 4.6 Billion. The country is anticipated to experience significant expansion as a result of positive government efforts, increased technological advancements, rising cardiovascular disease prevalence, and rapid economic growth. For instance, the geriatric population in the USA. is 16.8% of the total population, according to details published by the Organization for Economic Co-operation and Development in 2021. The market is expected to expand as a result of the rise in demand for cardiac pacemakers brought on by the aging population due to increasing incidences of cardiovascular issues.

Which Country drives the European Cardiac Ambulatory Monitoring Market?

In the European region, Germany dominates the cardiac ambulatory monitoring market by achieving a valuation of USD 0.75 Billion withholding a market share of about 5.6% in the global market, in 2021. According to data published by the European Society of Cardiology in June 2020, more than 60 million people in the European Union have cardiovascular disease, and about 13 million new cases are diagnosed each year. The cardiac ambulatory monitoring market is anticipated to expand as a result of the rising incidence of cardiovascular disorders and the consequent rise in the requirement for cardiac ambulatory monitoring devices.

How is China Dominating the East Asian Cardiac Ambulatory Monitoring Market?

At the end of 2021, China held a market share of about 9.2% in the global cardiac ambulatory monitoring market. Cardiac ambulatory monitoring device adoption is particularly high in China. According to a study that was published in the Radcliffe Cardiology journal, heart failure is a serious health concern in China, where it appears to be more common than in Western nations. The market in the region is being driven by an increase in awareness of heart failure and the danger of sudden cardiac arrest associated with this disease.

Category Wise Insights

Which Product is driving the Global Cardiac Ambulatory Monitoring Market?

In 2021, the ECG category contributed about 42.2% share of the global market 2021. This is explained by the fact that, as compared to other short- and long-term monitoring equipment, these devices provide a quicker and more accurate diagnosis of cardiac health. Additionally, compared to other devices, ECG devices have relatively lower pricing. These devices can also be utilized in medical operations, along with a variety of other cardiac diagnostic tests, telemetry monitoring equipment, and other tools.

Which End User Segment Leads the Global Cardiac Ambulatory Monitoring Market?

Hospitals hold about USD 4.7 Billion in revenue with 35.0% of the majority of the global market share in 2021. The rising incidence of CVDs, the rising number of hospital visits, the rising number of cardiac device implantation procedures, and the availability of reimbursement for these procedures, propel the expansion of this segment.

According to CDC (centers for disease control and prevention) report, in the USA., hospitals see about 6.9% of patients with ischemic heart disease, coronary artery disease, or a history of myocardial infarction each year, whereas emergency rooms see about 7.2% of patients with heart diseases.

Competitive Landscape

The existence of numerous industry rivals has led to a slight fragmentation and concentration of the cardiac ambulatory monitoring market. Cardiac ambulatory monitoring devices offer a new paradigm in healthcare by gathering and analyzing long-term data for accurate diagnosis. These devices are becoming increasingly used for monitoring chronic heart disease.

The key manufacturers' strategic initiatives and the introduction of advanced products are anticipated to fuel the industry's expansion throughout the forecast period.

For Instance:

• In July 2021, The LINQ II insertable cardiac monitor can now use two Medtronic AI algorithms that have been authorized by the FDA. The LINQ II-captured cardiac rhythm event data is improved in precision and accuracy by the AccuRhythm AI algorithms.
• AliveCor Inc. launched the KardiaMobile Card, a small and convenient personal ECG device, in February 2022. It takes 30 seconds to perform a single-lead ECG and is the size of a credit card. It uses Bluetooth technology to connect to a smartphone and identify six of the most common arrhythmias.

Similarly, recent developments related to companies manufacturing cardiac ambulatory monitoring products have been tracked by the team at Future Market Insights, which are available in the full report.

Report Scope as per Cardiac Ambulatory Monitoring Industry Analysis

Attribute	Details
Forecast Period	2022 to 2032
Historical Data Available for	2015 to 2021
Market Analysis	USD Billion for Value, Volume (Units)
Key Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa (MEA).
Key Countries Covered	USA, Canada, Brazil, Mexico, Argentina, Rest of Latin America, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, Rest of Europe, Japan, China, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, Turkey, GCC Countries, South Africa, North Africa and Rest of Middle East and Africa(MEA).
Key Market Segments Covered	Product, end users, and regions
Key Companies Profiled	Medtronic plc; Abbott Laboratories; Boston Scientific Corporation; GE Healthcare; iRhythm Technologies Inc; Biotronik; Schiller; Medicomp Inc.; Koninklijke Philips N.V.; Applied Cardiac System; MicroPort
Pricing	Available upon Request

Key Market Segments Covered in the Cardiac Ambulatory Monitoring Industry Research

By Product:

• ECG Devices
• Holter Monitors
• Event Monitors
• Implantable Loop Recorders
• Mobile Cardiac Telemetry

By End User:

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
• Cardiac Care Centers
• Home Care Setting

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa (MEA)

Frequently Asked Questions

How much is the cardiac ambulatory monitoring market currently worth?

The global cardiac ambulatory monitoring market is worth USD 13.3 Billion at end of 2021.

What is the sales forecast for cardiac ambulatory monitoring devices through 2032?

The cardiac ambulatory monitoring market is expected to reach USD 21.6 Billion by end of 2032 at a CAGR of 4.5%.

What are the trends driving the demand outlook of the global cardiac ambulatory monitoring market?

Technology advancement in cardiac monitoring devices and increasing sedentary lifestyles among people leading to an increase in the prevalence of cardiovascular diseases are some of the key factors that drive this market.

Which region has the highest market share in the global cardiac ambulatory monitoring market?

The North American region has the highest market share of about 36.5% in 2021 in the global cardiac ambulatory monitoring market.

How likely is the cardiac ambulatory monitoring market to grow in India?

India accounted for about 6.6% of the market share in 2021 in the global cardiac ambulatory monitoring market.

Which are the top five countries driving demand for the cardiac ambulatory monitoring market?

The USA, China, Germany, Japan, and India are the top five countries, which are expected to drive demand in the cardiac ambulatory monitoring market.

Who are the key manufacturers in the cardiac ambulatory monitoring market?

Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, iRhythm Technologies Inc, Biotronik, Schiller, Medicomp Inc., Koninklijke Philips N.V., Applied Cardiac System, and MicroPort, are some of the key players in the cardiac ambulatory monitoring industry.

What was the last 6 years’ CAGR value growth for the cardiac ambulatory monitoring market?

From 2015 to 2021, the market for cardiac ambulatory monitoring devices expanded at a CAGR of 5.2%.

What are the key market statistics for China in the cardiac ambulatory monitoring market?

China accounted for 9.2% of the market share at the end of 2021 in the global market.

What is the outlook of Germany in the cardiac ambulatory monitoring market?

Germany displayed a global market share of around 5.6% in 2021 in the cardiac ambulatory monitoring market.