According to FutureWise analysis the market for cardiac arrhythmia monitoring devices in 2023 is US$ 7.32 billion, and is expected to reach US$ 12.5 billion by 2031 at a CAGR of 6.90%.
For cardiac arrhythmias, numerous treatments have been developed. The commonest of these is the use of antiarrhythmic drugs, artificial pacemakers, implanted cardiac defibrillators, and ablation of damaged or malfunctioning cardiac tissue. An accurate diagnosis, however, is key to allowing a physician to determine the best treatment course for a patient. An electrocardiogram (ECG) can be obtained by a cardiac monitor and used by the physician to confirm or rule out arrhythmias. To maximize the outcome of a successful diagnosis, the physician should use the symptoms described by the patient to determine which method of cardiac monitoring is appropriate. A variety of devices can be used to remotely assess cardiac rhythm abnormalities in ambulatory patients. Patient- and event-activated intermittent recorders make up the largest segment of the market. In addition to these external or implanted devices, continuous-loop recorders can also be worn pre-symptomatically or post-symptomatically. The newest category of remote cardiac monitoring features four commercially available devices for continuous monitoring in real-time. The devices are capable of transmitting ECG data to a monitoring station that is being attended. There has been an increase in the rate of arrhythmias and their associated mortality in this context. Increasing mortality rates caused by arrhythmias have been a significant factor that has spurred the industry. With the increasing number of patients suffering from cardiovascular diseases, the market is expected to witness lucrative growth in the future. The market is also expected to grow with the progress of technological advancements and innovations.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Cardiac Arrhythmia Monitoring Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Cardiac Arrhythmia Monitoring Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.
Increasing research studies pertaining to the development of arrhythmia monitoring devices are estimated to drive the market over the forthcoming years. Technologies such as rhythm strip generating smartphone devices by Cardiac Designs (ECG Check) and AliveCor (Kardia Mobile) have resulted in the expansion of arrhythmia monitoring and wearable technology.
The mobile cardiac telemetry segment is anticipated to experience the fastest growth during the forecast period. These devices read cardiac rhythm with the help of external devices consisting of metal sensors. In addition, some of the monitoring functions offered by smartphones use photo-plethysmography through phone cameras to detect atrial fibrillation.