The global market for heart beat irregularity detection devices is poised for significant growth, according to a recent industry report. The market is expected to reach US$ 20.7 million by 2033, reflecting a compound annual growth rate (CAGR) of 4.5% from a market size of US$ 13.4 million in 2023.
This growth is driven by the increasing need for early detection of cardiac arrhythmias, a critical factor in ensuring optimal patient care. The ability to identify these irregularities early allows for timely intervention and improved patient outcomes.
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The COVID-19 pandemic had a temporary impact on the market. While the initial focus on pandemic response shifted some resources away from other areas of healthcare, the overall demand for heart arrhythmia detection remained strong. In fact, the pandemic highlighted the importance of remote patient monitoring, potentially leading to an increased adoption of these devices in the future.
As COVID-19 cases decline and healthcare services resume normal operations, the market for heart beat irregularity detection devices is expected to experience a significant upswing. Healthcare providers are actively seeking ways to improve their ability to deliver medical care while monitoring patient progress remotely. This trend is expected to further propel the growth of this market.
Key Takeaways:
- The Holter monitor segment of the heart beat irregularity detection devices market was worth more than USD 2.8 billion in 2021, and it is predicted to expand significantly during the forecast period.
- During the analysis period, the tachycardia monitoring devices sector is expected to increase at a 6.8% CAGR based on application.
- By the end of the year, the heart beat irregularity detection devices market for resting ECG devices is expected to be worth more than US$ 2.8 billion, with a CAGR of 4.6% during the projection period.
- The largest region, North America, has a high heart beat irregularity detection devices market attractiveness rating. By the end of the projected period, the heart beat irregularity detection devices market in this area is expected to be worth US$ 2,900 Million.
- During the projection period, the mobile heart beat irregularity detection devices market sector is expected to increase at a substantial rate, with a CAGR of 8.4%.
- With a 5.8% CAGR, the ventricular fibrillation segment is expected to achieve a heart beat irregularity detection devices market worth over US$ 2,500 Million.
- During the projection period in heart beat irregularity detection devices market, the hospitals segment is expected to develop at a high CAGR of 6.9%.
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Competitive Landscape:
- Philips agreed to buy Cardiology, a medical technology startup focusing on combining cloud technology and artificial intelligence to enhance heart diagnostics, in November 2021. (AI). This purchase expands the company’s heart beat irregularity detection devices product line, providing revenue growth potential in the market.
- The Federal Commission for the Protection against Sanitary Risk (COFEPRIS) gave AliveCor permission to launch KardiaMobile in Mexico in February 2020. The business has teamed up with Inpharamo to roll out the medical-grade ECG across the United States. As a result, the firm has been able to extend its global reach as well as its client base.
Key Companies Profiled:
- Alive Cor
- Applied Cardiac Systems
- Biotronik
- Biotricity
- GE Healthcare
- iRhythm Technologies
- Koninklijke Philips N.V.
- Medtronic plc.
- Nihon Kohden Corporation
- St. Jude Medical (Abbott Laboratories)
- Welch Allyn (Hillrom Services, Inc.)
- NUUBO Smart Solutions Technologies, SL
- Spacelabs Healthcare, Inc. (OSI Systems, Inc.)
- Fukuda Denshi Co., Ltd.
- Schiller AG
- Mortara Instrument Inc.
- BPL Medical Technologies
- Lepu Medical Technology(Beijing) Co., Ltd
Key Segments Covered in Heart Beat Irregularity Detection Device Industry Research:
Devices:
- Holter Monitor
- Event Recorder
- Mobile Cardiac Telemetry
- Implantable Cardiac Monitor
- Electrocardiogram
- Others
Applications:
- Tachycardia
- Atrial Tachycardia
- Ventricular Tachycardia
- Bradycardia
- Premature Contraction
- Others
End-User:
- Hospitals and Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
- Homecare Settings
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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