Ambulatory Cardiac Monitoring Devices Market: Introduction
Presently, one person out of every 10 people in the world suffers from heart-related issue such as coronary heart disease, angina (Poor blood flow through blood vessels of the heart), high and low blood pressure, heart attack, cardiac arrest, arrhythmia (irregular rhythms of heart), and valve blockage. An efficient and commonly used technique for the detection and monitoring of heart activities, such as cardiac rhythm, regular heartbeat, cardiac dysfunctions and cardiovascular disease (CVDs), is ambulatory cardiac monitoring. This technique involves the use of small, portable electrocardiograph machines to measure the heart's rhythm. Analysis of the rhythms of the heart can lead to the detection of the type of abnormality or disease such as arterial wall stress due to presence of cholesterol that can lead to cardiovascular diseases. Each type of monitor has unique features related to the length of recording time and the ability to send recordings over the phone. Cardiac monitoring is also important in the management of heart attacks, amount of cardiac output, and for monitoring of sepsis patients. Ambulatory cardiac monitoring devices are also employed to detect, remove, and prevent mycoplasma contamination in cell culture, making them suitable for use in research institutions and organizations.
Key Drivers and Restraints of Global Ambulatory Cardiac Monitoring Devices Market
- Increase in the number of heart diseases and their frequency of recurrence, especially in geriatric people who are susceptible to heart diseases, lifestyle changes such as excessive liquor consumption and smoking, technological advancements with the development of newer technologies in cardiac monitoring with improved efficacy, and product launches are key factors driving the ambulatory cardiac monitoring devices market.
- Rise in approvals and clearances for ambulatory cardiac monitoring devices by government organizations, such as the FDA, and large investments in R&D activities are also major factors that propel the global ambulatory cardiac monitoring devices market
- High cost associated with monitoring devices and stringent regulatory procedures for approval of these devices are likely to restrain the ambulatory cardiac monitoring devices market during the forecast period
ECG Segment to Dominate Global Ambulatory Cardiac Monitoring Devices Market
- Based on product type, the global ambulatory cardiac monitoring devices market can be divided into ECG, implantable loop recorders, mobile cardiac telemetry, echocardiogram, event monitors, and others. The ECG segment can be further bifurcated into resting ECG, stress ECG, and Holter monitors. The event monitors segment can further be classified into pre symptom loop and post symptom loop.
- The ECG segment dominated the global ambulatory cardiac monitoring devices market. Demand for ECG devices among patients suffering from heart issues is prompting the commercialization of novel products. Furthermore, technological advancements with new innovations in several devices and government initiatives are some factors that are expected to further boost the cardiac monitoring devices market in the next few years.
Hospitals Segment held Prominent Share of Market
- Based on end-user, the global ambulatory cardiac monitoring devices market can be divided into hospitals, clinics, ambulatory surgical centers, home healthcare, and others
- The hospitals segment accounted for a prominent share of the global cardiac monitoring devices market. The large share held by the segment can be attributed to an increase in the number of patients visiting to hospitals for treatment, rise in number of CVDs, and increase in the number of cardiac implant procedures.
North America to Dominate Global Ambulatory Cardiac Monitoring Devices Market
- In terms of region, the global ambulatory cardiac monitoring devices market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America held a notable share of the global ambulatory cardiac monitoring devices market, followed by Europe. Increase in number of patients suffering from heart issues such as CVDs, arrhythmia, cardiac arrest, attacks, valve blockage and their rate of recurrence and large investments in the cardiac monitoring sector is a major factor boosting the market in the region.
Key Manufacturers Operating in Market
Key manufacturers operating in the global market are:
- Stryker Corporation
- Boston Scientific Corporation
- Koninklijke Philips N.V.
- Zoll Medical Corporation
- GE Healthcare
- Microport Scientific Corporation
- Hill-Rom Holdings
- Nihon Kohden Corporation
- Spacelabs healthcare
Global Ambulatory Cardiac Monitoring Devices Market: Research Scope
Global Ambulatory Cardiac Monitoring Devices Market, by Product
- Resting ECG
- Stress ECG
- Holter Monitors
- Event Monitors
- Pre Symptom Loop
- Post Symptom Loop
- Implantable Loop Recorders(ILR)
- Mobile Cardiac Telemetry(MCT)
Global Ambulatory Cardiac Monitoring Devices Market, by End-user
- Ambulatory Centers
- Home Healthcare
Global Ambulatory Cardiac Monitoring Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.