Overview


According to FutureWise analysis the market for Cardiac Monitoring and Cardiac Rhythm Management Devices in 2023 is US$ 25.74 billion, and is expected to reach US$ 38.68 billion by 2031 at a CAGR of 5.20%.

The surge of patients suffering from ailments such as heart failure and recurrent arrhythmias has contributed significantly to the cardiac rhythm management (CRM) devices market. This market has seen exponential growth due to technological progress, cardiac disorders, a greater awareness among patients and a rise in the untreated medical conditions in developing nations. But despite all the advancements, the market still encounters some hindrances such as the exorbitant costs, lack of insurance coverage alternatives and an inclination to choose drugs over treatment devices. All these factors are especially prevalent in developing nations. Having said that, the developments in the latest MRI-labeled devices, along with the growth in the economies of LAMEA and Asia-Pacific regions have been predicted to augment the growth of the industries involved in the manufacture of cardiac rhythm management and cardiac monitoring.

Segmentation-wise, the market has been bifurcated into cardiac rhythm management and cardiac monitoring. These two segments have been divided into cardiac rhythm management devices and conventional monitoring devices. Here, the monitoring device has been categorised into event monitors, cardiac monitors, ECG, Holter monitors and ILR (implantable loop recorder). Cardiac rhythm management (CRM) has been classified into sub-segments which includes defibrillators, pacemakers and cardiac resynchronization devices.

Electrocardiography (ECG) market has been anticipated to account for the largest segment in the forecast time frame, while ILR is predicted to be the fastest growing segment and pacemakers and defibrillators are widely used in the area of diagnostics. These are likely to exhibit robust growth in the next six years because they are, in fact, the most mature market. Cardiac telemetry and ECG data management are two such systems that are highly up to date and will demonstrate positive changes in the ambulatory and home health care services.

The segmentation of the end users are home health care facilities, hospitals and ambulatory services. The ease of treatment and the affordability of the ambulatory and home health care facilities rank as some of the main factors in the substantial market growth.

  • Medtronic
  • Boston Scientific
  • Abbott Laboratories
  • GE Healthcare
  • BIOTRONIK
  • Koninklijke Philips
  • Asahi Kasei
  • MicroPort Scientific
  • Hill-Rom Holdings
  • Nihon Kohden
  • SCHILLER AG
  • BioTelemetry
  • BPL Medical Technologies
  • ACS Diagnostics
  • Shenzhen Mindray Bio-Medical Electronics
  • Lepu Medical Technology
  • Shree Pacetronix
  • OSYPKA
  • BTL
  • Alivecor, Inc.
  • Amiitalia
  • Bexen Cardio
  • Narang Medical Limited
  • MeTrax GmbH
  • Progetti Srl

(Note: The list of the major players will be updated with the latest market scenario and trends)

By Type

  • ECG Devices
    • Resting ECG Devices
    • Stress ECG Devices
    • Holter Monitors
  • Implantable Loop Recorders
  • Mobile Cardiac Telemetry Devices
  • Cardiac Output Monitoring Devices
  • Event Monitors
    • Event Monitors Market, by Type
      • Pre-symptom Event Monitors
      • Post-symptom Event Monitors
    • Event Monitors Market, by Technology
      • Autodetect Monitors
      • Manual Event Monitors
    • Smart ECG Monitors
  • Defibrillators
    • Implantable Cardioverter Defibrillators
      • Transvenous Implantable Cardioverter Defibrillators (T-ICDs)
        • Biventricular Implantable Cardioverter Defibrillators/Cardiac Resynchronization Therapy Defibrillators
        • Dual-Chamber Implantable Cardioverter Defibrillators
        • Single-Chamber Implantable Cardioverter Defibrillators
      • Subcutaneous Implantable Cardioverter Defibrillators (T-ICDs)
  • External Defibrillators
    • Automated External Defibrillators
      • Semi-Automated External Defibrillators
      • Fully Automated External Defibrillators
    • Manual External Defibrillators
    • Wearable Cardioverter Defibrillators
  • Pacemakers
    • Pacemakers Market, By Implantability
      • Implantable Pacemakers
      • External Pacemakers
    • Pacemakers Market, By Type
      • Dual-Chamber Pacemakers
      • Single-Chamber Pacemakers
      • Biventricular/Crt Pacemakers

By End User

  • Hospitals
  • Clinics, Cardiac Centers and Ambulatory Surgery Centers
  • Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa


  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants

  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth

  • To provide with an exhaustive analysis on the Cardiac Monitoring and Cardiac Rhythm Management Devices Market By Type, By End User and By Region.
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1. Years Considered for the Study
         3.2. Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Methodology
    •   1. Research Data
         1.1. Secondary Data
          1.1.1. Key Data from Secondary Sources
         1.2. Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.   Cardiac Monitoring and Cardiac Rhythm Management Devices Market Variables, Trends and Scope
    •   1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Type Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview
    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Cardiac Monitoring and Cardiac Rhythm Management Devices Market Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework
  • 6.   Cardiac Monitoring and Cardiac Rhythm Management Devices Market Analysis Tools
    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Type Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Type Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies
  • 7.   Cardiac Monitoring and Cardiac Rhythm Management Devices Market, By Type Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. ECG Devices
         1.1. Resting ECG Devices
         1.2. Stress ECG Devices
         1.3. Holter Monitors
        2. Implantable Loop Recorders
        3. Mobile Cardiac Telemetry Devices
        4. Cardiac Output Monitoring Devices
        5. Event Monitors
         5.1. Event Monitors Market, by Type
          5.1.1. Pre-symptom Event Monitors
          5.1.1. Post-symptom Event Monitors
         5.2. Event Monitors Market, by Technology
          5.2.1. Autodetect Monitors
          5.2.1. Manual Event Monitors
         5.3. Smart ECG Monitors
        6. Defibrillators
         6.1. Implantable Cardioverter Defibrillators
          6.1.1. Transvenous Implantable Cardioverter Defibrillators (T-ICDs)
           6.1.1.1. Biventricular Implantable Cardioverter Defibrillators/Cardiac Resynchronization Therapy Defibrillators
           6.1.1.2. Dual-Chamber Implantable Cardioverter Defibrillators
           6.1.1.3. Single-Chamber Implantable Cardioverter Defibrillators
          6.1.2. Subcutaneous Implantable Cardioverter Defibrillators (T-ICDs)
         6.2. External Defibrillators
          6.2.1. Automated External Defibrillators
           6.2.2.1. Semi-Automated External Defibrillators
           6.2.2.2. Fully Automated External Defibrillators
          6.2.2. Manual External Defibrillators
          6.2.3. Wearable Cardioverter Defibrillators
         6.3. Pacemakers
          6.3.1. Pacemakers Market, By Implantability
           6.3.3.1. Implantable Pacemakers
           6.3.3.2. External Pacemakers
          6.3.1. Pacemakers Market, By Type
           6.3.3.1. Dual-Chamber Pacemakers
           6.3.3.2. Single-Chamber Pacemakers
           6.3.3.3. Biventricular/Crt Pacemakers

  • 8.   Cardiac Monitoring and Cardiac Rhythm Management Devices Market, By End-User Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Hospitals
        2. Clinics, Cardiac Centers and Ambulatory Surgery Centers
        3. Other End Users

  • 9.   North America Cardiac Monitoring and Cardiac Rhythm Management Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 10.   Latin America Cardiac Monitoring and Cardiac Rhythm Management Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 11.   Europe Cardiac Monitoring and Cardiac Rhythm Management Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 12.   Asia Pacific Cardiac Monitoring and Cardiac Rhythm Management Devices Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 13.   Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 14.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 15.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
    •   1. Medtronic
         1.1. Company Overview
         1.2. Product Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. Boston Scientific
         2.1. Company Overview
         2.2. Product Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. Abbott Laboratories
         3.1. Company Overview
         3.2. Product Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. GE Healthcare
         4.1. Company Overview
         4.2. Product Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. BIOTRONIK
         5.1. Company Overview
         5.2. Product Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. Koninklijke Philips
         6.1. Company Overview
         6.2. Product Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Asahi Kasei
         7.1. Company Overview
         7.2. Product Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. MicroPort Scientific
         8.1. Company Overview
         8.2. Product Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. Hill-Rom Holdings
         9.1. Company Overview
         9.2. Product Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10.Nihon Kohden
         10.1. Company Overview
         10.2. Product Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
        11.SCHILLER AG
         11.1. Company Overview
         11.2. Product Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
        12.BioTelemetry
         12.1. Company Overview
         12.2. Product Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
        13.BPL Medical Technologies
         13.1. Company Overview
         13.2. Product Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
        14.ACS Diagnostics
         14.1. Company Overview
         14.2. Product Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         14.5. Strategic Overview
        15.Shenzhen Mindray Bio-Medical Electronics
         1. Company Overview
         2. Product Portfolio
         3. SWOT Analysis
         4. Financial Overview
         5. Strategic Overview
        16.Lepu Medical Technology
         16.1. Company Overview
         16.2. Product Portfolio
         16.3. SWOT Analysis
         16.4. Financial Overview
         16.5. Strategic Overview
        17.Shree Pacetronix
         17.1. Company Overview
         17.2. Product Portfolio
         17.3. SWOT Analysis
         17.4. Financial Overview
         17.5. Strategic Overview
        18.OSYPKA
         18.1. Company Overview
         18.2. Product Portfolio
         18.3. SWOT Analysis
         18.4. Financial Overview
         18.5. Strategic Overview
        19.BTL
         19.1. Company Overview
         19.2. Product Portfolio
         19.3. SWOT Analysis
         19.4. Financial Overview
         19.5. Strategic Overview
        20.Alivecor, Inc.
         20.1. Company Overview
         20.2. Product Portfolio
         20.3. SWOT Analysis
         20.4. Financial Overview
         20.5. Strategic Overview
        21.Amiitalia
         21.1. Company Overview
         21.2. Product Portfolio
         21.3. SWOT Analysis
         21.4. Financial Overview
         21.5. Strategic Overview
        22.Bexen Cardio
         22.1. Company Overview
         22.2. Product Portfolio
         22.3. SWOT Analysis
         22.4. Financial Overview
         22.5. Strategic Overview
        23.Narang Medical Limited
         15.23.1. Company Overview
         15.23.2. Product Portfolio
         15.23.3. SWOT Analysis
         15.23.4. Financial Overview
         15.23.5. Strategic Overview
        24.MeTrax GmbH
         15.24.1. Company Overview
         15.24.2. Product Portfolio
         15.24.3. SWOT Analysis
         15.24.4. Financial Overview
         15.24.5. Strategic Overview
        25.Progetti Srl
         15.25.1. Company Overview
         15.25.2. Product Portfolio
         15.25.3. SWOT Analysis
         15.25.4. Financial Overview
         15.25.5. Strategic Overview

  • 16.   Pre and Post COVID-19 Impact
    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the healthcare regulations initiated by administrations
        5. The overall economic slowdown of the developing and developed nations
  • 17.   FutureWise SME Key Takeaway Points for Client
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