The global arrhythmia monitoring devices market size is expected to reach USD 8.41 billion in 2025 with a CAGR of 6.8% during the forecast period, according to a new report by Grand View Research, Inc. Continuous R&D activities in the field of cardiac monitoring are leading to technological expansion. This, in turn, is positively influencing the growth of the arrhythmia monitoring devices market. Wearable diagnostic patch by iRhythm Technologies, Inc., Zio, has led to symptomatic arrhythmia monitoring, which is superior in comparison to conventional Holter monitors.
Big pharma and medical device companies are heavily investing in R&D to perform a detailed mapping of cardiac arrhythmia. In February 2018, Medtronic received FDA clearance for the first non-invasive cardiac mapping system, CardioInsight. It includes wearable 252-electrode sensor vest that creates 3D electroanatomic maps of heart by combining data from a cardiac computed tomography scan with ECG signals collected from the chest region.
In addition to these technologies, emergence and advancements in mobile cardiac telemetry are leading to further progress of the overall market. In October 2017, Abbott received FDA clearance for Confirm Rx, a smartphone-compatible implantable cardiac monitor indicated for arrhythmia diagnosis. Boston Scientific announced its FDA approval for Resonate, a line of cardiac resynchronization therapy defibrillator and cardioverter defibrillator systems for the cardiac management.
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Further Key Findings from the Study Suggest:
- The arrhythmia monitoring devices market is highly competitive and is rapidly evolving with numerous potential market players
- Holter monitors dominated the market in terms of revenue in 2017. On the other hand, mobile cardiac telemetry is expected to witness the fastest growth rate during the forecast period
- Atrial fibrillation dominated the market in terms of revenue in 2017. The growth in the number of untreated cases of arrhythmias are leading to increasing need for advanced cardiac monitoring devices
- Heightened adoption of sophisticated technologies has led to the expansion of the market. Kardia Mobile by AliveCor captures ECG in 30 seconds projecting the heart rhythm for conditions such as atrial fibrillation
- The hospitals and clinics segment held the largest share in the market in 2017. On the other hand, diagnostic centers are likely to experience the fastest growth over the forecast period
- North America commanded the leading share in the market in 2017 due to faster regulatory approvals for innovative devices and procedures
- AliveCor, Inc.; Applied Cardiac Systems; BioTelemetry, Inc.; BIOTRONIK; Fukuda Denshi Co., Ltd.; GE Healthcare; iRhythm; Medi-Lynx; St. Jude Medical (Abbott); Medtronic; Nihon Kohden Corporation; Nuubo; and Spacelabs Healthcare are some of the key players operating in this market.