Cardiac Monitoring Products Market to Reach $42.2 Billion, Globally, by 2033 at 5.3% CAGR: Allied Market Research

PORTLAND, OR, UNITED STATES, December 13, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Cardiac Monitoring Products Market¹ by Device Type (ECG monitor, Event Recorder, Implantable Cardiac Loop Recorder, Pacemaker, Defibrillator and Cardiac Resynchronization Therapy (CRT) Devices, Smart Wearable, Other), and End User (Hospitals, Specialty Clinics, Ambulatory Care, Homecare and Other): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the cardiac monitoring products market was valued at $25.1 billion in 2023, and is estimated to reach $42.2 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A324071

Prime Determinants of Growth

The cardiac monitoring products market is expected to grow owing to increasing prevalence of cardiovascular diseases (CVDs), rising obesity rates, and an aging population, and rise in adoption of advanced diagnostic and therapeutic solutions. In addition, technological advancements in cardiac care equipment, such as the development of more sophisticated imaging systems, minimally invasive procedures, and improved implantable devices, are also propelling market growth. Furthermore, growing healthcare expenditure and improved healthcare infrastructure in emerging economies are boosting market expansion. Governments and private entities are investing heavily in upgrading medical facilities and acquiring state-of-the-art equipment to provide better healthcare services. The increasing awareness and early diagnosis of heart conditions have led to a higher demand for cardiac care devices, as patients and healthcare providers prioritize early intervention to prevent severe complications.

Report Coverage & Details
Repot Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$25.12 billion
Market Size in 2033
$42.25 billion
CAGR
5.34%
No. of Pages in Report
280
Segments Covered
Device Type, End User and Region
Drivers
Increasing incidence of cardiovascular disorders
Rise in adoption of the cardiac monitoring products
Favorable government initiatives
Opportunities
Technological advancement in cardiac monitoring products.
Restraint
High product cost.
Segment Highlights

The ECG monitor segment dominated market share in 2023

By device, ECG monitor segment dominated the market share in 2023. This is attributed to the fact that ECG monitors offer non-invasive, real-time monitoring of heart activity, enabling timely diagnosis and intervention, which is crucial in managing cardiac emergencies and chronic heart diseases. Technological advancements have also enhanced the capabilities of ECG monitors, incorporating features such as remote monitoring, wireless connectivity, and integration with electronic health records (EHRs) .

Hospital segment dominated the market share in 2023

By end user, hospital segment dominated the market share in 2023. This is attributed to fact that hospitals are primary centers for diagnosing and treating cardiovascular diseases. The complexity and severity of many cardiac conditions necessitate the use of sophisticated medical equipment, such as advanced imaging systems, catheterization labs, and cardiac monitoring devices, which are typically housed in hospital settings.

Regional Outlook

North America holds a dominant position in the market, attributed to high prevalence of the cardiac disorders, strong presence of major key players and well-established healthcare infrastructure. However, Asia-Pacific region is expected to register highest CAGR in the forecast period. This is attributed to expanding healthcare infrastructure, rise in geriatric population and favorable government initiatives.

Players

Abbott Laboratories

Medtronic Plc

Boston Scientific Corporation

GE Healthcare

iRhythm Technologies Inc

Biotroni

Livanova PLC

Baxter International

Schiller AG

Koninklijke Philips N.V

The report provides a detailed analysis of these key players in the global cardiac monitoring products market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A324071

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

¹ https://www.alliedmarketresearch.com/cardiac-monitoring-products-market-A324071