Report : North America Cardiac Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cardiovascular Devices, Multi-Parameter ECG Monitors, Patient Monitoring Devices, Ambulatory Cardiac Monitoring, and Cardiac Monitors); Product Type (Portable Monitor, Smart Wearable Monitor, and Standard Monitor), Application (Coronary Heart Diseases, Sudden Cardiac Arrest, Stroke, Arrhythmia, Congenital Heart Diseases, Heart Failure, Pulmonary Hypertension, Heart Function (HF/LVEDP), Pulmonary Artery Pressure (PA), and Others), and End User (Hospitals, Ambulatory Surgery Centers, Cardiac Centers, Home Care, Clinics, and Others)

Increase in Incidence of Cardiovascular Diseases to Contribute to North America Cardiac Monitoring Devices Market Growth

According to our latest market research study titled “North America Cardiac Monitoring Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Product Type, Application, and End User,” the market is expected to reach US$ 16.43 billion by 2028 from US$ 10.52 billion in 2021. It is expected to grow at a CAGR of 6.6% from 2021 to 2028.  

The report highlights the trends prevailing in the North America cardiac monitoring devices market, and market drivers and deterrents. Factors such as an increase in the incidence of cardiovascular diseases, a surge in the geriatric population base, and a rise in the number of product launches and approvals drive the market growth. However, the risk of associated cybersecurity vulnerabilities hampers the market growth.

Based on type, the North America cardiac monitoring devices market is segmented into cardiovascular devices, multi-parameter ECG monitors, patient monitoring devices, ambulatory cardiac monitoring, and cardiac monitors. In 2020, the cardiovascular devices segment held the largest share of the market. Moreover, the market for the patient monitoring devices segment is expected to grow at the highest CAGR during the period of 2021–2028. With a growing number of chronic disorders such as stroke, coronary heart disease, sudden cardiac arrest, and congenital heart diseases, the demand for patient monitoring devices is increasing. Wearable patient monitoring devices, biosensors, and smart implants find applications in temperature monitoring, continuous glucose monitoring, and pulsed oximetry blood pressure monitoring.   

According to data published by the American Medical Association, before the onset of the COVID-19 pandemic, routine monitoring of hospitalized patients with heart rate devices and continuous pulse oximetry contributed to the reduced death rate associated with chronic heart diseases. COVID-19 has created a demand to monitor patients treated in emergency departments (EDs) standard medical units and monitor some patients at home for clinical deterioration (e.g., hypoxemia) in order to maintain the hospital capacity. The pandemic highlighted the need for monitoring and therapy based on patient needs and risks. A combination of technological advances, medical urgency, and payment policy supported this change. The COVID-19 pandemic marks the beginning of a new era of cardiac management with remote patient monitoring (RPM). Real-time cardiovascular disease monitoring based on wearable medical devices can effectively reduce COVID-19 mortality. Thus, the demand for cardiac monitoring devices is expected to grow continuously during the forecast period as there is a rise in the number of product approvals and launches in the market.

A few prominent players operating in the North America cardiac monitoring devices market are Medtronic; Abbott; Boston Scientific Corporation; iRhythm Technologies, Inc.; GE Healthcare; Biotronik, Inc.; SCHILLER Healthcare India Pvt. Ltd; Koninklijke Philips N.V.; MicroPort Scientific Corporation; Asahi Kasei Corporation; Hill-Rom Holdings, Inc.; Nihon Kohden Corporation; AliveCor, Inc; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; ACS Diagnostics; BTL; Hemodynamics Company LLC; Mortara Instruments; LivaNova PLC; TZ Medical; Amiitalia; RHYTHMEDIX; and Medi-Lynx Cardiac Monitoring, LLC.

Companies are launching innovative products and services to sustain their position in the North America cardiac monitoring devices market. In July 2021, Abbott launched the Jot Dx insertable cardiac monitor in the US market to detect irregular heart rhythms.

The report segments the North America cardiac monitoring devices market as follows:

The North America cardiac monitoring devices market is analyzed on the basis of type, product type, application and end user. Based on type, the market is categorized into cardiovascular devices (event monitors, electrocardiography (ECG), cardiac catheters, stents, defibrillators, guidewires, pacemakers, heart valves and others), patient monitoring devices (cardio monitoring devices, anesthesia monitoring devices, hemodynamic monitoring devices, fetal and neonatal monitoring devices, stress management devices and others), multi-parameter ECG monitors, cardiac monitors [cardiac event monitoring (CEM) holter, extended holter/AECG, and others], ambulatory cardiac monitoring (event recorders, implantable loop recorders, mobile cardiac telemetry, and others), and others. Based on product type, the North America cardiac monitoring devices market is segmented into the standard monitor, portable monitor, and smart wearable monitor. Based on application, the North America cardiac monitoring devices market is segmented into coronary heart diseases, stroke, sudden cardiac arrest, arrhythmia, heart failure, pulmonary hypertension, congenital heart diseases, pulmonary artery pressure (PA), heart function (HF/LVEDP), and Others. Based on end user, the market is segmented into hospitals, clinics, ambulatory surgery centers, cardiac centers, home care, and others. The North America cardiac monitoring devices, by country, is segmented into the US, Canada, and Mexico.

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