Cardiac Monitoring & Cardiac Rhythm Management Devices Market to Grow at a Significant Rate During the Forecast Period
Rising incidence of cardiovascular diseases to drive the Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market towards a steady growth.
According to TechSci Research report, “Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market By Cardiac Monitoring Devices (ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Cardiac Output Monitoring Devices, Others) By Cardiac Rhythm Management Devices (Defibrillators v/s Pacemakers) By End User (Hospitals & Clinics, Cardiac Care Centers, Ambulatory Surgery Centers, Others) By Region, Competition Forecast & Opportunities, 2026”, the Global Cardiac monitoring and cardiac rhythm management devices market is expected to grow at a promising rate during the forecast period. Emerging economies such as India and China are expected to provide a wide range of growth opportunities for players in the market which is driven by their large and growing population as well as the increasing number of hospitals and clinics in these countries. Moreover, patients suffering from cardiovascular disorders are rapidly increasing in number owing to lifestyle and food habits. In addition to all this, growing population of old people is also driving the global cardiac monitoring and cardiac rhythm management devices market towards growth.
Due to the onset of COVID-19 and imposition of complete lockdown to mitigate the spread of coronavirus, there has been shutdown of many manufacturing units and disruption in the supply chain resulting in interrupted production and lesser supply of implants all around the globe. Also, the economy has been adversely affected in many countries resulting in hinderance to the growth of the cardiac monitoring & cardiac rhythm management devices market. However, after relief from lockdown market is again going to pick up pace to grow significantly.
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The global cardiac monitoring & cardiac rhythm management devices market is categorized by cardiac monitoring devices, cardiac rhythm management devices, end users, and region. Based on cardiac rhythm management devices, the market is further categorized as defibrillators and pacemakers. Defibrillators is estimated to continue to dominate the market in forecast years, owing to rising product popularity for cardiac rhythm management, especially transvenous implantable cardioverter defibrillators and subcutaneous implantable defibrillators.
Advancement in technology and continued research & development is a major contribution from many biotechnology firms. For example, in the year 2019, BIOTRONIK conducted an elaborative and one of its kind study called, BIO-LIBRA. The study was conducted to analyze sex-specific outcomes of cardiac defibrillator therapy in patients with non-ischemic cardiomyopathy (NICM). The study was focused to determine whether men and women respond differently to the treatment. A minimum of 40% female enrollment was aimed for the study to adequately analyze the effectiveness of defibrillator therapy.
Some of the major competitors in the market are Abbott Laboratories, Inc., Medtronic PLC, Boston Scientific Corporation, MicroPort Scientific Corporation, GE Healthcare, Koninklijke Philips N.V., Hill-Rom Holdings, Inc., BIOTRONIK, Asahi Kasei Corporation, Nihon Kohden Corporation, Schiller AG, Alivecor, Inc., Metrax GmbH, Shenzhen Mindray Bio-Medical Electronics, LivaNova PLC. The companies are focussing on extensive research and developments activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Cardiovascular diseases are ‘silent epidemic’. In addition, they are estimated to be one of the most expensive health conditions to treat. Early detection is the key to prevention, that can only be achieved through constant monitoring, challenging as it may sound the advent of pocket-sized, user-friendly technologies is strategically beneficial.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market By Cardiac Monitoring Devices (ECG Devices, Implantable Loop Recorders, Mobile Cardiac Telemetry Devices, Cardiac Output Monitoring Devices, Others) By Cardiac Rhythm Management Device (Defibrillators v/s Pacemakers) By End User (Hospitals & Clinics, Cardiac Care Centres, Ambulatory Surgery Centres, Others) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Cardiac monitoring & cardiac rhythm management devices and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Cardiac monitoring & cardiac rhythm management devices.
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