Report : North America Arrythmia Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (ECG Monitors, Implantable Monitors, Holter Monitors, Mobile Cardiac Telemetry, and Others), Application (Bradycardia, Tachycardia, Atrial Fibrillation, Ventricular Fibrillation, Premature Contraction, and Others), and End User (Hospitals and Clinics, Ambulatory Centers, Diagnostic Centers, and Others)
Holter Monitors Segment to Dominate North America Arrythmia Monitoring Devices Market during 2020–2028
According to a new market research study on “North America 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$ 3,910.84 million by 2028 from US$ 2,454.28 million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the North America arrythmia monitoring devices market along with the drivers and restraints pertaining to the market growth. Increase in incidence of cardiovascular diseases is the major factor driving the growth of the North America arrythmia monitoring devices market. However, high cost of products and procedures hinder the growth of North America arrythmia monitoring devices market.
COVID-19 virus outbreak was first observed in December 2019 in Wuhan (China), and it has spread to ~100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The global impacts of COVID-19 are being felt across several markets. Although the healthcare sector had witnessed SARS, H1N1, and other outbreaks in the last few years, the severity of the COVID-19 has made the situation more complicated due to its mode of transmission. North America witnessed growing number of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of cases reached to 34,434,803 million with 617,875 deaths reported in the United States as of 23rd June 2021. Similar impact was noticed in Mexico and Canada. As a result, healthcare systems are overburdened, and the delivery of medical care to all patients has become a challenge in the region. Moreover, sudden surge in number of infections led to shortage of emergency health supplies such as ventilators, beds, and oxygen cylinders. In order to manage the outbreak, government took preventive measures including total lockdowns and social distancing policies. In addition, medical device industry is also facing negative impact of this pandemic. As the COVID-19 pandemic continues to unfold, medical device companies are finding difficulties in managing their operations. Many companies offering products for cardiac monitoring have their business operations in the United states and business are adversely being affected by the effects of a widespread outbreak of COVID-19. This has disrupted and restricted company’s ability to distribute products, as well as temporary closures of our facilities or the facilities of our suppliers or customers. Moreover, market players also witnessed disruption in their business operations since March 2020, as US healthcare authorities framed policies about elective cardiac surgeries. Also, to free-up limited space for people being treated for the virus, hospitals have postponed, or cancelled. However, demand for vital sign monitoring devices in the region had substantial impact on the adoption of ECG Monitors. Though, there was disruption in distribution, demand for such products had marginal negative impact on the North America 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 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; ACS Diagnostics; Medicalgorithmics; OSI Systems, Inc; are among the leading companies in the North America 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 2021, Spacelabs Healthcare a division of OSI Systems, Inc. launched Lifescreen Pro event screening system to diagnose cardiac arrhythmias accurately and economically.
The report segments the North America Arrythmia Monitoring Devices Market as follows:
North America Arrythmia Monitoring Devices Market – By Type
- ECG Monitors
- Implantable Monitors
- Holter Monitors
- Mobile Cardiac Telemetry
North America Arrythmia Monitoring Devices Market – By Application
- Atrial Fibrillation
- Ventricular Fibrillation
- Premature Contraction
North America Arrythmia Monitoring Devices Market – By End User
- Hospitals and Clinics
- Ambulatory Centers
- Diagnostic Centers
North America Arrythmia Monitoring Devices Market – By Country
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