Asia Pacific Arrythmia Monitoring Devices Market is expected to reach US$ 2,313.44 Mn by 2028

Atrial Fibrillation Segment to Dominate APAC Arrythmia Monitoring Devices Market during 2020–2028

According to a new market research study on “APAC Arrythmia Monitoring Devices Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and End User,” is expected to reach US$ 2,313.44 million by 2028 from US$ 1,409.22 million in 2021. The market is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The report provides trends prevailing in the APAC arrythmia monitoring devices market along with the drivers and restraints pertaining to the market growth. High penetration in developing nations is the major factor driving the growth of the APAC arrythmia monitoring devices market. However, high cost of products and procedures hinder the growth of APAC arrythmia monitoring devices market.

Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. As per the data of Worldometer, as of June 23, 2021, the Asia reported a total of 54.7 million COVID-19 cases, while in India the number of cases has been increasing and reached to 30,028,709 cases with 390,691 deaths so far. India and Japan registered considerable number of COVID-19 cases. Currently, India is the second worse hit country worldwide. Though, the government of India managed first wave of coronavirus, the conditions are continually worsening during the second wave of pandemic. Many measures have been implemented to contain the spread of COVID-19, that have resulted in significant operational disruption for many companies including in healthcare industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient visits for private hospital chains. To relieve healthcare systems, many clinics have been postponing non-critical cardiac surgeries. As per a report published in the British Journal of Surgery on May 12, the number of operations cancelled in India is estimated at 48,728 per week. Moreover, medical device companies are starting to forecast large sales declines in their Chinese markets because people are staying at home. Many big medical device companies such as Philips, GE Healthcare, and Hill-Rom amongst others have predicated the decline in sales in china. Almost no elective surgeries were performed in China in February. Such activities are anticipated to have negative impact on Asia Pacific arrhythmia monitoring devices market

The market for arrythmia monitoring devices market is segmented into type, application, end user, and country. Based on type, the market is segmented into ECG monitors, implantable monitors, holter monitors, mobile cardiac telemetry, and others. The Holter monitors segment held the largest share of the market in 2021. Based on application the arrythmia monitoring devices market is divided bradycardia, tachycardia, atrial fibrillation, ventricular fibrillation, premature contraction, and others. In 2021, the atrial fibrillation segment is likely to hold the largest share of the market, however atrial fibrillation segment is expected to grow at the fastest rate during the coming years. Similarly, based on end user, the market is bifurcated into hospitals and clinics, ambulatory centers, diagnostic centers, others. The hospitals and clinics segment are likely to hold the largest share of the market in 2021, however the ambulatory centers segment is anticipated to register the highest CAGR of the market during the forecast period. 

Abbott; Koninklijke Philips N.V.; General Electric Company; Hill-Rom Holding Inc.; Medtronic; Biotronik, Inc.; AiveCor, Inc; Medicalgorithmics; OSI Systems, Inc; are among the leading companies in the APAC arrythmia monitoring devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019,Abbott launched new heart monitor Confirm Rx insertable cardiac monitor (ICM) for better arrhythmia detection with CE Mark in Europe and US FDA clearance. This next-generation a paperclip-sized implantable device comes with smartphone connectivity and continuous remote monitoring to track unpredictable heart rhythm problems

The report segments the APAC Arrythmia Monitoring Devices Market as follows:

APAC Arrythmia Monitoring Devices Market – By Type

• ECG Monitors
• Implantable Monitors
• Holter Monitors
• Mobile Cardiac Telemetry
• Others

APAC Arrythmia Monitoring Devices Market – By Application

• Bradycardia
• Tachycardia
• Atrial Fibrillation
• Ventricular Fibrillation
• Premature Contraction
• Others

APAC Arrythmia Monitoring Devices Market – By End User

• Hospitals and Clinics
• Ambulatory Centers
• Diagnostic Centers
• Others

APAC Arrythmia Monitoring Devices Market – By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC