The North America cardiac monitoring devices market is projected to reach US$ 16.43 billion by 2028 from US$ 10.52 billion in 2021. It is expected to grow at a CAGR of 6.6% from 2021 to 2028.
A cardiac event monitor is used to record the heart’s electrical activity (ECG). It keeps the track of the heartbeat and rhythm. These monitors are employed for the long-term monitoring of symptoms that don’t occur every day. Important heart health data can be tracked, recorded, and sent to patients’ doctors in real time using cardiac monitoring systems, allowing the care teams to monitor patients’ heart health from a distance. This reduces the need for frequent visits to the doctor’s office.
Market Insights
Increase in Incidence of Cardiovascular Diseases Drives North America Cardiac Monitoring Devices Market Growth
Every 40 seconds, someone in the United States gets a stroke. A stroke kills someone every 4 minutes. A stroke affects more than 795,000 people in the United States each year. The first or new strokes account for around 610,000 of these. The growing prevalence of cardiovascular diseases (CVDs) such as coronary heart diseases, sudden cardiac arrest, congenital heart diseases, heart failure, pulmonary hypertension, and pulmonary artery pressure (PA) is encouraging the introduction of improved monitoring methods. The simplicity of use and the ability of the quick detection of cardiovascular diseases (CVDs) are adding to the popularity of cardiac monitoring devices. According to the World Health Organization (WHO), ~30 million people experience a stroke each year. Moreover, the American Heart Association states more than 130 million people in the US, i.e., 45.1% of the population, are projected to have a type of CVD by 2035. In 2018, Coronary Heart Disease (CHD) was the leading cause (42.1%) of deaths attributable to CVD in the US, followed by stroke, high blood pressure, heart failure, diseases of the arteries, and other CVD.
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Rise in Number of Product Launches and Approvals Contributes Significantly to Market Growth
The North America cardiac monitoring devices market is characterized by the presence of many small and big companies. To increase their market share, market players are adopting strategies such as new product launches, regional expansions, and technological advancements. Cardiac monitoring devices are safer and more effective than ever with continued innovation and technological advances, leading to increased acceptance of cardiac monitoring devices. Prominent players are investing in R&D to develop advanced technologies and improve their revenue shares.
Market Segmentation
The North America cardiac monitoring devices market is analyzed on the basis of type, product type, application and end user. Based on type, the market is categorized into cardiovascular devices (event monitors, electrocardiography (ECG), cardiac catheters, stents, defibrillators, guidewires, pacemakers, heart valves and others), patient monitoring devices (cardio monitoring devices, anesthesia monitoring devices, hemodynamic monitoring devices, fetal and neonatal monitoring devices, stress management devices and others), multi-parameter ECG monitors, cardiac monitors [cardiac event monitoring (CEM) holter, extended holter/AECG, and others], ambulatory cardiac monitoring (event recorders, implantable loop recorders, mobile cardiac telemetry, and others), and others.
Market leaders and key company profiles
- Medtronic
- Abbott
- Boston Scientific Corporation
- iRhythm Technologies, Inc.
- GE Healthcare
- Biotronik, Inc.
- SCHILLER Healthcare India Pvt. Ltd
- Koninklijke Philips N.V.
- MicroPort Scientific Corporation
- Asahi Kasei Corporation
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