Cardiac Monitoring Market Report: By Product (Resting ECG, Stress ECG, MCT, Holter Monitoring, ICM Monitoring, Cardiac Event Monitoring, Cardiac Output Monitoring), Mode (Standard, Ambulatory), End User (Hospitals, Specialty Cardiac Centers & Clinics, Diagnostic Centers) –Global Industry Size, Share and Growth Forecast to 2030

Market Overview

The global cardiac monitoring market size stood at $7,965.7 million in 2021, which is expected to reach $16,124.0 million by 2030, at a CAGR of 8.2% during 2021–2030. This is ascribed to the rising prevalence of CVDs, which, as per WHO, are the leading cause of death around the world, with a mortality of 17.9 million every year.

Factors that directly affect heart health include high tobacco use, high cholesterol levels, obesity, physical inactivity, diabetes, poor diet, and alcohol use. Due to the changes in lifestyle, continuous monitoring of cardiac health is required; therefore, medical technology companies are launching various products. For instance, in November 2021, Biotricity Inc. unveiled Bioheart, a direct-to-consumer heart monitor that enables 24/7 continuous rhythm monitoring for 48 hours on a full battery.

Pre-monitoring and pre-diagnosis can prevent the majority of CVDs. Atrial fibrillation (AFib) is the most-common arrhythmia diagnosed in clinical practice. The prevalence of AFib was around 6.1 million cases in the U.S. in 2021, which is projected to increase to 12.1 million cases in 2030. Arrhythmias can be prevented with early detection; consequently, the demand for cardiac monitoring and cardiac rhythm management devices is rising, as they save the lives of patients who are at a high risk of cardiac arrest.

• Ischemic heart disease and stroke account for around 85.0% of all CVD-related deaths around the world.
• CVDs led to 840,768 deaths in the U.S in 2019 alone.
• The economic burden of heart diseases will be more than $1.0 billion by 2030, which emphasizes the need for effective heart monitoring.

With new developments in heart monitoring devices, notably mobile cardiac telemetry (MCT) systems, cardiac monitoring practices have substantially improved. For instance, in February 2021, RhythMedix LLC launched its next-generation RhythmStar wearable device with built-in 4G cellular connectivity. The novel cardiac telemetry monitor is designed for extended and accurate assessment of cardiac rhythm in real time, without the need for a phone or any other communication device.

Moreover, the rising adoption of digital health services intensifies the cardiac monitoring market growth. As per the Future Health Index Report 2020 by Koninklijke Philips N.V., emerging economies are leading the way in the adoption of digital health technologies. For instance, in the U.A.E. and China, 46% and 58% of the patients share data with healthcare professionals via connected devices, respectively. In contrast, in Sweden, Germany, and the U.K., the percentage is around 17%, 12%, and 26%, respectively.

2read ECGs is intensifying the market growth. In July 2021, the FDA approved two AI algorithms of Medtronic for use with the LINQ II insertable cardiac monitor. The AccuRhythm AI algorithms use AI to enhance the precision and accuracy of the heart rhythm event data captured using LINQ II.

Moreover, in February 2022, AliveCor Inc. announced the launch of the KardiaMobile Card, a slim and convenient personal ECG device. The size of a credit card, it performs a single-lead ECG in 30 seconds. It pairs with a smartphone using the Bluetooth technology, to detect six of the most-common arrhythmias.
Additionally, in June 2019, Infobionic launched the MoMe Kardia monitoring system, a non-invasive remote cardiac monitor, to provide complete heart rate data over the cloud.

Resting ECG Holds Largest Revenue Share

The resting ECG category accounted for around 38% revenue share in 2021. This is attributed to the quick and enhanced diagnosis of cardiac health via these devices in comparison to other short- & longer-term monitoring devices. Additionally, the costs associated with resting ECG devices are comparatively lower as compared to others. Moreover, these instruments can be used with numerous other cardiac diagnostic tests, telemetry monitoring equipment, and in medical procedures.

Hospitals Hold Largest Revenue Share

Hospitals generated around $3,070.3 million revenue in 2021, and this number will grow at a CAGR of 7.8% during 2021–2030. Their high revenue contribution is due to the rising prevalence of CVDs, surging number of patient visits to hospitals, rising number of cardiac device implantation procedures, and easy availability of reimbursement for these procedures. Around 6.9% of the patients who suffer from ischemic heart disease, coronary artery disease, or a history of myocardial infarction visit hospitals in the U.S. every year, while around 7.2% of the patients with heart diseases visit emergency departments.

Rising Number of CVD Cases Driving North American Market

The North American cardiac monitoring market was valued at an estimated $2,998.3 million in 2021, and it is expected to advance at a CAGR of 8.7% during 2021–2030. The major share of the region is on account of the rising prevalence of CVDs, increasing healthcare expenditure, mounting disposable income, growing healthcare awareness, and the availability of technologically advanced devices. Around 4.6% of the U.S. adults were diagnosed with coronary heart disease in 2020.

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Recent Strategic Developments of Key Players

In recent years, players in the cardiac monitoring market have been involved in product launches and acquisitions to attain a significant position. For instance,

• In January 2021, Boston Scientific Corporation announced the acquisition of Preventice Solutions Inc. to provide mobile cardiac health solutions and services ranging from ambulatory cardiac monitors (including short- and long-term Holter monitors) to cardiac event monitors and MCT.
• In August 2019, ZOLL Medical Corporation announced its acquisition of Cardiac Science Corporation to accomplish an increase in the production of AEDs for cardiac monitoring and offer related services and accessories.

Key Players in Cardiac Monitoring Market Are:

• Medtronic plc
• Boston Scientific Corporation
• Abbott Laboratories
• GE Healthcare
• BIOTRONIK
• Koninklijke Philips N.V.
• Asahi Kasei Corporation
• MicroPort Scientific Corporation
• Hill-Rom Holdings
• Nihon Kohden Corporation

Market Size Breakdown by Segment

The research offers the market size of the global cardiac monitoring market for the period 2017–2030.

Based on Product

• Resting ECG
• Stress ECG
• MCT
• Holter Monitoring
• ICM Monitoring
• Cardiac Event Monitoring
• Cardiac Output Monitoring

Based on Mode

• Standard
• Ambulatory

Based on End User

• Hospitals
• Specialty Cardiac Centers & Clinics
• Diagnostic Centers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Spain
  • Italy
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • South Africa