cardiac monitoring Market Overview:
• The cardiac monitoring industry is anticipated to expand during the forecast period, 2019-2024, with a good CAGR of nearly 5.2 percent. This report is divided by type of device, end-user, and geography.
• The market for cardiac monitoring is motivated by an rise in heart disease incidence, a increasing aging population that is highly prone to coronary heart disease, technological advances in cardiac monitoring systems that minimize infection opportunities, and enhanced device effectiveness.
• Cardiovascular disease is one of the major causes of death globally, according to reports from the WHO. Cardiovascular diseases are projected to take the lives of 17.9 million individuals each year 31 percent of all fatalities worldwide .
• In addition, one of the most reliable and effective alternatives for tracking different heart conditions is cardiac monitoring.
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- However, increasing infection incidences, elevated costs connected with surveillance and rigorous regulatory processes are likely to limit the development of the worldwide cardiac monitoring industry over the forecast period.
Scope of the report:
Continuous cardiac monitoring is an significant instrument for patients with a variety of circumstances in clinical evaluation. It enables changes in heart rate and rhythm to be detected and is crucial for the identification of life-threatening arrhythmias. This is accomplished by means of a cardiac monitor, linked to a cable lead and skin electrodes, capturing the electrical activity predominantly by a single perspective. There are different kinds of cardiac monitors on the market.
Key Market Trends:
ECG monitor to dominate the global cardiac monitoring market:Increasing the incidence of cardiovascular diseases CVD requires long-term surveillance of the ECG. In hospitals, this operation is usually possible. However, the physicians can monitor and diagnose the patient remotely and on time with the implementation of wireless ECG. There are two different types of ECG monitors on the market, i.e. monitoring ECG systems and ECG systems for diagnosis. It is anticipated that the development of commercially advanced devices with enabled Bluetooth sensor technology and mobile app technology will drive the ECG monitors segment s popularity globally. In addition, technological advances and product innovations occurring in ECG device development are probable to drive market growth. For instance, in 2018, Qardio, Inc. obtained permission for QardioCore, its revolutionary ECG monitor, from Australia s Therapeutic Goods Administration TGA .
North America is estimated to hold largest share in the market:
North America is the market leader in cardiac monitoring. Countries in particular, such as the United States and Canada, due to a dramatic rise in cardiovascular disease patient pool. According to the American Heart Association report on heart disease and stroke, cardiovascular disease caused around 800,000 fatalities in 2017. In addition, ongoing technological advances, increasing patient awareness of cardiac monitoring, well-established healthcare infrastructure, and favourable reimbursement policies are anticipated to increase the North America region s cardiac monitoring market. For example, in April 2019, in the United States, Stryker launched the company s newest defibrillation solution, the LIFEPAK ® CR2 defibrillator with program manager LIFELINKcentralTM AED.Competitive Landscape:
Due to the existence of many big, medium and small players, the cardiac monitoring industry is extremely fragmented and concentrated. Multinational players have a significant share of the global market. The cardiac monitoring businesses focus on multiple development strategies, such as M&A, alliances, collaborations, geographic expansions, and fresh product launches to improve their presence on the market. For example, Abbott got the U.S. in October 2017. Confirm RxTM Insertable Cardiac Monitor ICM clearance from the Food and Drug Administration FDA .
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