DUBLIN--(BUSINESS WIRE)--The "Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market (2020-2025) by Type, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market is estimated to be $21.4 billion in 2020 and is expected to reach $26.67 billion by 2025, growing at a CAGR of 4.5%.
Key factors, such as the rising prevalence of patients suffering from irregular heart rate and rhythm disorder, unhealthy diet habits & changing lifestyle, increasing healthcare expenditure, are likely to contribute to the growth of the market. Technological advancements in the field of CM and CRM devices are bolstering the market growth for CM & CRM Management. The introduction of advanced cardiac devices such as subcutaneous ICDs, Automated External Defibrillators (AEDs), and MRI pacemakers is also expected to propel the market growth.
However, the factor such as high treatment cost and high cost of CM & CRM devices hinders market growth. Also, the unfavorable reimbursement policies are impeding the market growth. The strict regulatory requirements and lack of technical expertise in operating Electrocardiography and CRM devices are a challenge for the market's growth.
Market Segmentation
The Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market is segmented further based on Type, End-User, and Geography.
By Type, the market for Cardiac Monitoring Management Devices is classified as ECG Devices, Event Monitors, and Smart ECG Monitors. Amongst all, the ECG Devices segment is estimated to hold the highest market share.
By Type, the Cardiac Rhythm Management Devices Market is segmented as defibrillators and pacemakers. Defibrillators is estimated to hold the highest market share during the forecast period.
By End-user, the market is classified as Hospitals; Clinics, Cardiac Centres, and Ambulatory Surgery Centres (ASCs); and Other End Users. Hospital segment holds the highest market share.
By Geography, North America accounted for the dominant share of the market.
Recent Developments
1. Royal Philips, a global leader in health technology, announced that it had completed the acquisition of BioTelemetry, Inc., a leading U.S.-based provider of remote cardiac diagnostics and monitoring - 9th February 2021
2. Abbott introduces Next-Generation Heart Rhythm Management Devices in Europe, featuring State-Of-The-Art Patient App and Bluetooth Connectivity - 18th February 2020
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments and growth in market share.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Cardiac Monitoring & Cardiac Rhythm Management Devices Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size.
- The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Market Dynamics
Drivers
- Increasing Prevalence of Patients Suffering from Irregular Heart Rate and Rhythm Disorder
- Increasing Investments and Expenditure in Healthcare Sector
- Significant R&D Contributions from Leading Biotech Firms
- Technological Advancements in CM & CRM techniques
Restraints
- The High Cost of CM & CRM Devices
- Unfavourable Reimbursement Policies for CM & CRM devices
Opportunities
- Measures to Reduce Infections Caused due to CIEDs
Challenges
- Stringent Regulatory Requirements Delaying the Approval of Cardiac Devices
- Lack of Technical Expertise in Operating Electrocardiography and Cardiac Rhythm Management Devices
- Preference for Drugs over Expensive CM & CRM Devices
Companies Mentioned
- Abbott Laboratories
- Medtronic Plc
- Boston Scientific Corporation
- GE Healthcare
- Koninklijke Philips N.V.
- Biotronik
- Asahi Kasei Corporation
- Microport Scientific Corporation
- Hill-Rom Holdings, Inc.
- Nihon Kohden Corporation
- Schiller AG
- ACS Diagnostics
- BPL Medical Technologies
- BTL
- Shenzhen Mindray Bio-Medical Electronics
- Lepu Medical Technology
- Shree Pacetronix
- Osypka AG
- Alivecor, Inc.
- Amiitalia
- Bexen Cardio
- Narang Medical Limited
- Metrax GmbH
- LivaNova plc
- Cardiac Science Corporation (ZOLL Medical Corporation)
- Jarvik Hearth. Inc
- Berlin Hearth
- Nihon Kohden Corporation
- Progetti SRL
For more information about this report visit https://www.researchandmarkets.com/r/8xm5z5
