DUBLIN, April 18, 2018 /PRNewswire/ -- The "Cardiac Monitoring & Cardiac Rhythm Management Devices Market by Product (ECG, Cardiac Output Monitoring, ILR), CRM (ICDs, External Defibrillator, Pacemaker (Dual Chamber Pacemaker), End User (Home and Ambulatory, Hospital) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The cardiac monitoring and cardiac rhythm management devices market is expected to reach USD 25.12 Billion by 2022 from USD 20.67 Billion in 2017, at a CAGR of 4.0% during the forecast period.
The scope of the report includes cardiac monitoring and cardiac rhythm management devices used for the continuous monitoring, detection, and treatment of heart activities and abnormal heart rhythm (electric heart patterns). The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
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Factors such as the increasing incidence of cardiovascular diseases and technological advancements in devices are expected to propel the growth of the cardiac monitoring market. On the other hand, price sensitivity and limited reimbursements for remote cardiac monitoring devices are expected to limit market growth to a certain extent.
Based on product, the cardiac rhythm management devices market is classified into defibrillators and pacemakers. In 2017, the defibrillators segment accounted for the largest share of the market. The large share of defibrillators can primarily be attributed to the increasing incidence of cardiovascular diseases, development of technologically advanced devices, and increasing demand for these devices in emerging countries.
Based on product, the cardiac monitoring devices market is classified into ECG devices, implantable loop recorders, event monitors, cardiac output monitors, mobile cardiac telemetry, and smart wearable ECG monitors. The mobile cardiac telemetry segment is expected to grow the highest CAGR during the forecast period. Factors such as quick and enhanced diagnosis compared to other short & longer-term monitoring modalities and huge potential for reducing healthcare costs are driving the growth of the market.
Based on end user, the cardiac monitoring and cardiac rhythm management devices market is classified into hospitals, home & ambulatory care settings, and other end users. In 2017, the hospitals segment accounted for the largest share of the market. The large share of this segment can primarily be attributed to the increasing use of these devices in hospitals, growing burden of cardiovascular & coronary heart diseases, increasing number of patient visits to physician offices for the principal diagnosis of CVD & CHD, and growing number of cardiac implant procedures.
