DUBLIN--(BUSINESS WIRE)--The "North America Cardiac Monitoring Market - Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The North America Cardiac Monitoring Market is expected to register a CAGR of nearly 4.5% during the forecast period, 2019-2024.
North America cardiac monitoring market is driven by an increased burden of heart diseases, the aging population who are very susceptible to the coronary heart diseases and technological developments in cardiac monitoring devices that minimizing the chances of infection and improved efficiency of devices.
According to the American Heart Association (AHA), cardiovascular disease accounts for 17.3 million deaths per year. The Centre for Disease Control and Prevention states that about 610,000 people die of heart diseases in the United States every year, i.e., 1 in every four deaths can be attributed to cardiovascular diseases (CVDs). Coronary heart disease (CHD) is the most common type of heart disease, with a death toll of over 370,000 people annually.
The rate of diagnosis for cardiovascular diseases is increasing over time due to high incidence and prevalence rates of cardiac diseases and controlling mortality rates by early diagnosis and treatment for CVD with the help of cardiac monitoring devices. Such factors in accordance with cardiovascular diseases potentially drive the market.
Key Market Trends
ECG Monitor to Dominate the North American Cardiac Monitoring Market
Long-Term ECG monitoring is necessary for a growing population of patients with cardiovascular diseases approaching treatments options in hospitals, clinics and demanding homecare services. Usually, this procedure is possible in hospitals. However, with the introduction of wireless ECG, the doctors can monitor and diagnose the patient remotely and on time. There are two different types of ECG monitors available in the market such as Monitoring ECG Systems and Diagnostic ECG Systems.
Development of commercially advanced devices, with enabled Bluetooth sensor technology and mobile app technology, are anticipated to drive the popularity of ECG monitors segment globally. Furthermore, technological advancements and product innovations taking place in the development of ECG devices which are likely to propel market growth.
The North America Cardiac Monitoring market is exceptionally fragmented and focused because of the presence of many large, medium, and small players. The multinational players possess a substantial share of the worldwide market. The companies in the cardiac monitoring market are focusing on various growth strategies such to enhance their market presence such as M&A, partnerships, collaborations, geographical expansions, new product launches. For instance, In October 2017, Abbott has received U.S. Food and Drug Administration (FDA) clearance for the Confirm Rx Insertable Cardiac Monitor (ICM).
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidences of Cardiovascular Diseases
4.2.2 Advancements in the Technology
4.2.3 Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems
4.3 Market Restraints
4.3.1 Risk of Infection Due to Implantable Monitoring Devices
4.3.2 Unfavourable Reimbursement Policies
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 Device Type
5.1.1 ECG Monitor
5.1.2 Event Recorder
5.1.3 Implantable Cardiac Loop Recorder
5.1.6 Cardiac Resynchronization Therapy (CRT) Devices
5.1.7 Smart Wearable
5.2 End User
5.2.1 Hospitals & Clinics
5.2.2 Home Care Settings
5.2.3 Ambulatory Surgical Centers
5.3.1 North America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.4 Boston Scientific Corporation
6.1.5 GE Healthcare
6.1.6 Hill-Rom Holdings Inc.
6.1.7 iRhythm Technologies Inc.
6.1.8 Livanova PLC
6.1.9 Medtronic PLC
6.1.10 Schiller AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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