The global Heart Beat Irregularity Detection Device Market is forecasted to expand at 4.5% CAGR to reach a market valuation of USD 20.7 Million by the end of 2033, up from USD 12.8 Million that was recorded for 2022.
The market for heart beat irregularity detection devices is expected to be driven by rising incidences of cardiac arrhythmia that call for early identification for optimal care of heart patients.
| Attributes | Details |
|---|---|
| Heart Beat Irregularity Detection Device Market Size (2023) | USD 13.4 Million |
| Forecasted Market Value (2033) | USD 20.7 Million |
| Value CAGR (2023 to 2033) | 4.5% |
| Collective Value Share: Top 5 Countries (2022) | 55.4% |
| Key Market Players | Alive Cor; Applied Cardiac Systems; Biotronik; Biotricity; GE Healthcare; iRhythm Technologies; Koninklijke Philips N.V.; Medtronic plc.; Nihon Kohden Corporation; St. Jude Medical (Abbott Laboratories); Welch Allyn (Hillrom Services; Inc.); NUUBO Smart Solutions Technologies; SL; Spacelabs Healthcare; Inc. (OSI Systems; Inc.); Fukuda Denshi Co.; Ltd.; Schiller AG; Mortara Instrument Inc.; BPL Medical Technologies; and Lepu Medical Technology(Beijing) Co.;Ltd |
Heart beat irregularity detection devices are used for detection for heartbeats, and refers to the techniques used by doctors to determine the type and origin of abnormal cardiac rhythms.
Arrhythmias, which are deviations from the heart's regular rhythm or speed, can be divided into different groups based on where in the heart they occur. The left or right atrium, one of the two upper chambers of the heart, might have an atrial or supraventricular arrhythmia.
The lower chambers of the heart, the ventricles, are the genesis of ventricular arrhythmias, which can impair the heart's capacity to pump blood to the body.
The mainly used device by the physicians within the global market is electrocardiogram (ECG).
According to Future Market Insights, the global market has huge growth potential due to the growing incidence of cardiovascular diseases.
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The market for heart beat irregularity detection devices expanded at a CAGR of 5.4% during the historic period (2017 to 2022) and reached a market value of USD 12.8 Million in 2022.
Arrhythmia refers to an irregular heartbeat. In case of arrhythmia, the heart may beat faster or slower than it would in the absence of one. The heart may beat erratically due to a variety of issues, and the cause will decide the best course of treatment.
Symptoms of cardiac arrhythmia include palpitation, hammering in the chest, dizziness, weakness, weariness, chest tightness, weakening of the heart muscle, and poor ejection fraction.
Some of the reasons of cardiac arrhythmia include coronary artery disease, high blood pressure, irritable tissue in the heart, valve abnormalities, healing process after surgery, changes in heart muscle, and injuries following a heart attack.
The global market is predicted to expand 1.5X its current size by the end of 2033.
| Market Statistics | Details |
|---|---|
| Jan - Jun (H1), 2021 (A) | 3.89% |
| Jul - Dec (H2), 2021 (A) | 4.88% |
| Jan - Jun (H1),2022 Projected (P) | 3.83% |
| Jan - Jun (H1),2022 Outlook (O) | 4.02% |
| Jul - Dec (H2), 2022 Outlook (O) | 4.98% |
| Jul - Dec (H2), 2022 Projected (P) | 4.70% |
| Jan - Jun (H1), 2023 Projected (P) | 4.06% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 20↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 13↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 27↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 9↑ |
Medical professionals and consumers are concerned about security weaknesses in medical devices, notably cardiac implanted electronic devices (CIED).
Up to 750,000 Medtronic PLC cardiac devices contained a severe cybersecurity flaw in 2019, allowing an attacker with insider knowledge to injure the patient by modifying the programming of an advanced implantable defibrillator.
A shortage of qualified specialists, as well as the detrimental impact of some heart beat irregularity detection devices on patients, are some of the reasons impeding the growth of the heart beat irregularity detection market.
According to the World Health Organization, cardiovascular disease (CVD) is the leading cause of mortality globally, and approximately 30 Million individuals experience a heart attack or stroke each year.
Family history, age, cigarette smoking, hypertension, high cholesterol, obesity, physical inactivity, diabetes, poor diets, and excessive alcohol consumption are just a few risk factors that might lead to CVD.
According to the American Heart Association, more than 130 Million Americans are expected to have CVD by 2035, accounting for over half of all adult Americans.
People with severe CVD need to be regularly monitored to prevent abrupt heart failure since they are more likely to experience cardiac arrhythmias including tachycardia and bradycardia. The majority of CVDs can be prevented through pre-monitoring and pre-diagnosis. This is the primary factor stimulating the market for heart beat irregularity detection devices.
Recent advancements in HIPPA-compliant technology have enabled safe data transfer without interruptions during the monitoring time for heartbeat detection devices. Innovative new technologies also offer efficient substitutes for conventional Holter monitors that generate alarms for patients with high cardiac arrhythmia risk.
Because of this, the long-term paired with uninterrupted cardiac rhythm control capabilities of such devices may have a beneficial impact on market growth. Through a collaboration with Access Physician, Cuero Regional Hospital, introduced TeleCardiology services in January 2019. These factors are also anticipated to spur the market growth.
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| Country | The United States |
|---|---|
| Market Share (2023) | 29.5% |
| Market Share (2033) | 28.9% |
| BPS Analysis | -59 |
| Country | China |
|---|---|
| Market Share (2023) | 9.5% |
| Market Share (2033) | 10.2% |
| BPS Analysis | 69 |
| Country | Germany |
|---|---|
| Market Share (2023) | 6.8% |
| Market Share (2033) | 7.3% |
| BPS Analysis | 43 |
| Country | France |
|---|---|
| Market Share (2023) | 5.2% |
| Market Share (2033) | 5.0% |
| BPS Analysis | -20 |
| Country | India |
|---|---|
| Market Share (2023) | 4.6% |
| Market Share (2033) | 4.4% |
| BPS Analysis | -18 |
The United States is set to hold a share of around 29.5% of the global market in 2023. The regional growth is attributed to expanding use of cutting-edge cardiovascular technologies and sophisticated healthcare infrastructure.
By 2030, 12.1 Million Americans are expected to suffer atrial fibrillation, according to the Centers for Disease Control and Prevention (CDC). Such figures suggest that the need for heart beat irregularity detection devices is anticipated to expand, consequently contributing to the market's growth, as AFib is the most prevalent kind of cardiac arrhythmia detected among the patient population in the region.
Germany is set to hold a share of 5.2% of the global market in 2023.
The prevalence of cardiovascular disorders is rising, and there is a growing preference for minimally invasive procedures, which is actively affecting the market's expansion.
According to estimates from the German Heart Surgery Report 2021, 36,714 heart valve treatments and 19,490 procedures involving pacemakers and ICDs was done as part of the estimated 161,261 cardiac procedures in Germany in 2021. The demand for heart beat irregularity detection devices in Germany is rising as a result of the large number of cardiac surgeries.
China is set to hold 9.5% revenue share within the global market space in 2023.
The market for heart beat irregularity detection devices is driven by an increase in the prevalence of cardiovascular diseases, an ageing population that is more prone to coronary heart disease, technological advancements in cardiac monitoring devices that reduce the risk of infection, and increased device effectiveness.
One of the primary underlying causes of heart disease and lung cancer is smoking. The WHO estimates that smoking contributes to over 1 Million cardiovascular deaths in the Asia-Pacific area each year. Smoking causes more than 1 in 5 cardiovascular diseases, including heart attack and stroke.
Electrocardiogram devices are expected to hold a market share of 42.0% in 2023. An ECG records the electrical activity of the heart. It is a painless routine test that is used to quickly discover cardiac abnormalities and keep track of the heart's health; this benefit is likely to fuel the segment's expansion.
The device may be used during chest pain, rapid pulse, heart palpitations, weakness, fatigue, and other, to determine irregular heart rhythms also known as arrhythmias, previous heart attacks, how the pacemaker are working, is blocked or narrowed arteries in the heart are causing chest pain or a heart attack.
Technological developments in this devices such as portable EKG is also the reason behind segment growth. This portable device is small in size and weight, and is simple to operate that transmits data in real time phones and computers.
As per the applications the market has been segmented into tachycardia, bradycardia, premature contractions, and others, in which tachycardia is expected to hold a market share of 30.1% in 2023. Tachycardia is further segmented into atrial tachycardia and ventricular tachycardia.
In the upcoming years, it is anticipated that there will be a rise in the use of technologically improved devices for disease monitoring.
A thorough course of treatment is necessary for atrial tachycardia, a kind of supraventricular tachycardia, to improve outcomes. Devices that can detect abnormal heartbeats are very important for improving disease diagnosis and therapy. Consequently, it is anticipated that the increasing risk of tachycardia would increase the market growth.
The hospitals and clinic segment is set to hold 36.8% revenue share in 2023 globally. The significant share of this market is attributed to factors like the rising incidence of CVD, the rising number of diagnostic hospital patient visits, and the rising number of cardiac implant surgeries.
According to the American Heart Association, arrhythmias affect more than 4 Million people and cause close to half a Million fatalities annually in the United States.
Technology and medicine are now integrated, and the twenty-first century has witnessed the introduction of previously bulky, single-function gadgets to a transportable, portable, and multipurpose platform.
There has been a shift in the last ten years towards handheld ECG tracking systems that are more compact and portable. Within a hospital or clinic or between patient rooms on a cart for mobility, these gadgets can be easily accommodated, this benefits of the devices with increasing adoption is anticipated to boost the segment growth.
In order to compete in the global heart beat irregularity detection device market, well-known manufacturers who produce and provide cardiac arrhythmia monitoring devices concentrate on releasing improved products.
In order to increase their consumer base, these companies are now engaging in strategic alliances with important players in neighboring countries and local companies.
A novel strategy used by manufacturers to increase patient and healthcare professional interest in the device that detects heartbeat is the incorporation of digital software.
Recent Market Developments
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the heart beat irregularity detection device space, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value, and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Product, Distribution Channel, and Region |
| Key Companies Profiled | Alive Cor; Applied Cardiac Systems; Biotronik; Biotricity; GE Healthcare; iRhythm Technologies; Koninklijke Philips N.V.; Medtronic plc.; Nihon Kohden Corporation; St. Jude Medical (Abbott Laboratories); Welch Allyn (Hillrom Services, Inc.); NUUBO Smart Solutions Technologies, SL; Spacelabs Healthcare, Inc. (OSI Systems, Inc.); Fukuda Denshi Co., Ltd.; Schiller AG; Mortara Instrument Inc.; BPL Medical Technologies; Lepu Medical Technology(Beijing)Co.,Ltd |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
Alive Cor and GE Healthcare are the key manufacturers in the global market.
The market is forecast to register a CAGR of 4.5% through 2033.
From 2018 to 2022, the market registered a CAGR of 5.4%.
Rising early detection of optimal care is driving global market opportunities.
The global market size is to reach USD 20.7 billion by 2033.
| Estimated Market Size (2024E) | USD 1.8 billion |
|---|---|
| Projected Market Value (2034F) | USD 2.5 billion |
| Value-based CAGR (2024 to 2034) | 3.7% |
| Estimated Market Size (2024E) | USD 24.7 billion |
|---|---|
| Projected Market Value (2034F) | USD 36.7 billion |
| Value-based CAGR (2024 to 2034) | 4% |
| Market Value (2023) | USD 2.71 Billion |
|---|---|
| Market Projected Value (2033) | USD 10.88 Billion |
| Market CAGR (2023 to 2033) | 14.9% |
| Estimated Market Value (2022) | USD 13.9 Billion |
|---|---|
| Estimated Market Value (2032) | USD 21.6 Billion |
| CAGR (2022 to 2032) | 4.5 % |
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Heart Beat Irregularity Detection Device Market
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