Cardiac Monitoring and Cardiac Rhythm Management Device
Market 2019 Development Status, Sales Revenue, Competitive Landscape,
Opportunity Assessment and Potential of the Industry by 2023
Market Scenario
Advanced technologies in cardiac
monitoring and cardiac rhythm management devices have also to growth in the
market. The global cardiac monitoring and cardiac rhythm management device
market is segmented into types of cardiac devices, types of cardiac monitoring
devices, types of cardiac rhythm management devices, and end-users. Further,
the types of cardiac devices are segmented into pacemaker, biventricular
pacemaker, implantable cardioverter defibrillator, and implantable cardiac loop
recorder. Based on the types of cardiac monitoring devices the market is
further segmented into electrocardiogram (ECG), Holter monitor, event monitor,
implantable loop recorder, and cardiac output monitoring devices.
Electrocardiogram (ECG) is further sub-segmented into telelectro-cardiogram,
wireless ECG, and lead ECG test. Based on types of cardiac rhythm management
devices, the market is segmented into defibrillators, pacemakers, and cardiac
resynchronization therapy devices. Defibrillations are further sub-segmented
into implantable defibrillators and external defibrillators. Based on end-user
the market is segmented into hospitals, ambulatory surgical centers, and
others.
Global cardiac monitoring and
cardiac rhythm management device market is expected to grow during the forecast
period (2018 to 2023) at a CAGR ~4%.
Rising
prevalence of cardiovascular diseases and the increasing number of unmet
medical needs in undeveloped countries are leading to the growth of the cardiac
monitoring and cardiac rhythm management device market. Technical advancements
in drug-eluting, MRI compatible pacemakers, and Holter monitors are some of the
factors leading to the growth of this market. The growth of the global cardiac
monitoring device market is driven by the high prevalence of cardiovascular disorders
worldwide. The increasing demand for minimally invasive surgeries drives the
growth of this market. However, factors such as stringent regulatory approval
procedures, the high cost of cardiac devices, and lack of reimbursement
policies in developing countries are hindering the growth of the market.
However, the high cost of these
devices in developing nations, preference of drugs over devices in the cardiac
treatment, and limited insurance coverage options are some of the factors which
are hampering the growth of the market.
Key Players
Some of the key players in the global cardiac monitoring and cardiac
rhythm management device market are Abiomed, Berlin Hearth, Brotionik SE and
Co. KG, Boston Scientific Corporation, Cardiac Science Corporation, General
Electric(GE), Hill Rom Services Inc, Jarvik Hearth. Inc, Koninklijke Philips
N.V, LivaNova plc, Medtronic plc, Nihon Kohden Corporation, ReliantHeart Inc,
Schiller, and Abbott.
Regional Market Summary
The market has been segmented, by region,
into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The
cardiac monitoring and cardiac rhythm management device market in the Americas
has been further segmented into North America and South America, with the North
American market divided into the US and Canada. The European cardiac monitoring
and cardiac rhythm management device market has been segmented into Western
Europe and Eastern Europe. Western Europe has further been classified as
Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The
cardiac monitoring and cardiac rhythm management device market in Asia-Pacific
has been segmented into Japan, China, India, South Korea, Australia, and the
rest of Asia-Pacific. The cardiac monitoring device market in the Middle East
and Africa has been segmented into the Middle East and Africa.
The European market is expected to
be the second-largest cardiac monitoring device market. The market growth in
this region can be attributed to government funding and support of the
healthcare sector coupled with increasing research and development. Moreover, a
growing number of surgeries due to the changing lifestyle is contributing to
the growth of the market in this region. Asia-Pacific is expected to be the
fastest-growing cardiac monitoring device market during the forecast period
owing to the increasing prevalence of cardiac diseases, rising investments in
healthcare, increasing geriatric population, and expansions by market players
in the region. Asia-Pacific is giving strong competition in the global cardiac
monitoring device market by producing cost-effective products that are high in
demand in local as well as global markets. The market in the Middle East and
Africa is expected to account for the smallest share in the global cardiac
monitoring device market due to the underdeveloped healthcare sector, lack of
technical knowledge, and poor medical facilities.
In terms of market value, North
America will dominate the global cardiac monitoring and cardiac rhythm
management device market during the forecast period. The increasing investment
by North America in cardiac devices over the last few years has led to the
growth of the market in this region. Increasing number of cardiac patients,
better healthcare infrastructure, and advanced technology in cardiac monitoring
equipment have boosted the cardiac monitoring and cardiac rhythm management
device market in North America.
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Table Of Content
1. Report Prologue
2. Market Introduction
2.1
Definition
2.2
Scope Of The Study
2.2.1
Research Objective
2.2.2
Assumptions
2.2.3
Limitations
3. Research Methodology
3.1
Introduction
3.2
Primary Research
3.3
Secondary Research
3.4
Market Size Estimation
4. Market Dynamics
4.1
Drivers
4.2
Restrains
4.3
Opportunities
4.4
Challenges
4.5
Macroeconomic Indicators
4.6
Technology Trends & Assessment
5. Market Factor Analysis
5.1
Porters Five Forces Analysis
5.1.1
Bargaining Power Of Suppliers
5.1.2
Bargaining Power Of Buyers
5.1.3
Threat Of New Entrants
5.1.4
Threat Of Substitutes
5.1.5
Intensity Of Rivalry
…TOC Continued!
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