Ongoing advances in adjacent technologies and markets, such as Remote Patient Monitoring (RPM), and consumer devices, will also continue to influence the Ambulatory Diagnostic Cardiology market. The Long-Term ECG market in particular, where technological advances have lowered barriers to entry, will likely see a proliferation in vendors over the short-to-medium-term. However, as is the case in all healthcare technology and software markets, providers continue to favour dealing with a small number of large vendors who can offer enterprise-level solutions (including ongoing technical and administrative support). Without this protective umbrella, vendors supplying specialist, single-point solutions may struggle to achieve critical mass. This suggests yet more M&A and partnerships involving the large traditional vendors are to come.

Of the current crop, Philips, despite recent travails in its wider business, has the most comprehensive ambulatory diagnostic cardiology solutions offering, though newly independent GE Healthcare has already signalled its intentions to expand into ambulatory and remote care. Baxter, post its Hill-rom acquisition, has also established a presence, though it is yet to achieve substantial market share.


Of the major ICM vendors, only Boston Scientific and Biotronik have made significant recent moves, while the contribution of Abbott’s ICM business to overall revenue is minimal. Medtronic, the proverbial 800-pound gorilla in the ICM room, is in the midst of a major restructuring, including the spin-off of its patient monitoring and respiratory interventions businesses, but has surely been watching recent developments with more than a passing interest.

All of the this points to more partnerships, more M&A and more disruption to come, meaning the Ambulatory Diagnostic Cardiology market will remain one to watch in 2023 and beyond.

“Ambulatory Diagnostic Cardiology – World – 2022” provides a data-centric and global outlook of the Ambulatory Diagnostic Cardiology Device and Service (ex. ICMs) market. The report blends primary data collected from in-depth interviews with healthcare professionals and technology vendors, to provide a balanced and objective view of the market.

About the author: Kelly Patrick is a principal analyst at Signify Research, an independent supplier of market intelligence and consultancy to the global healthcare technology industry. Signify's major coverage areas are Healthcare IT, Medical Imaging and Digital Health. Its clients include technology vendors, healthcare providers and payers, management consultants and investors. Signify Research is headquartered in Cranfield, U.K.

Back to HCB News

Cardiology Homepage