Arrythmia Monitoring Devices Market to Grow at a CAGR of 6.6% to reach US$ 9,742.95 million from 2021 to 2028

Arrythmia Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (ECG Monitors, Implantable Monitors, Holter Monitors, Mobile Cardiac Telemetry, and Others); Application (Bradycardia, Tachycardia, Atrial Fibrillation, Ventricular Fibrillation, Premature Contraction, and Others); End User (Hospitals and Clinics, Ambulatory Centers, Diagnostic Centers, and Others) and Geography

Publication Month : Jun 2021

  • Report Code : TIPRE00004202
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 186
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The arrythmia monitoring devices market is projected to reach US$ 9,742.95 million by 2028 from US$ 6,212.59 million in 2021; it is expected to grow at a CAGR of 6.6% from 2021 to 2028.

Increase in cardiovascular disease incidence and surge in geriatric population are the major factors contributing to the market growth. However, high cost of products and procedures restrains the market growth. Arrhythmia refers to irregularities in heartbeats, wherein the heart may beat too fast or slow. Arrhythmia monitoring devices are used to track the function of the heart sustaining a continuous record of the heart function and report any abnormalities in the rhythm of the heart.

APAC countries are witnessing rise in COVID-19 cases. As part of its short-term impact, the COVID-19 pandemic has underlined the need to revise regulatory process and bring changes in the research and development processes. Moreover, there has been a significant drop in in-patient and out-patient visits for private hospital chains. To relieve healthcare systems, many clinics have been postponing noncritical cardiac surgeries. As per a report published in the British Journal of Surgery, the number of operations cancelled in India is estimated at 48,728 per week. These events are likely to have a negative impact on Asia Pacific arrhythmia monitoring devices market

Lucrative Regions for Arrythmia Monitoring Devices Market

Lucrative Regions for Arrythmia Monitoring Devices Market
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Market Insights

Increase in Incidence of Cardiovascular Diseases Fuels Arrythmia Monitoring Devices Market Growth

The world has witnessed notable developments in arrythmia monitoring devices in the last decade, offering physicians and patients new approaches to manage many diseases, including atrial arrhythmias, ventricular arrhythmias, and ventricular atrial fibrillation. The growing prevalence of arrhythmia and other cardiovascular diseases (CVDs) such as bradycardia, tachycardia, atrial fibrillation, ventricular fibrillation, and premature contraction is encouraging the introduction of improved diagnostic methods. Cardiac monitoring systems are simpler and quicker tools used for detecting arrhythmias, which has added to their popularity. According to the World Health Organization (WHO), CVDs are among the leading causes of death worldwide, and ~30 million people experience a stroke each year. According to the American Heart Association, almost half of all adults in the US have a type of CVD. Furthermore, more than 130 million people, i.e., 45.1%, of the US population, are projected to have a type of CVD by 2035. Further, lifestyle changes lead to the rise in the incidence of diseases such as diabetes, hypertension, dyslipidemia, and obesity, contributing to a surge in CVD cases across the world. Most types of CVDs can be prevented through pre-monitoring and pre-diagnosis. Likewise, arrhythmias, i.e., abnormalities in the heart functioning, can be averted with early diagnosis. The demand for arrhythmia monitoring devices is increasing as these devices can help save patients that are at a high risk of cardiac arrest.

Type-Based Insights

Based on type, the arrythmia monitoring devices market is segmented into ECG monitors, implantable monitors, Holter monitors, mobile cardiac telemetry, and others. The Holter monitors segment held the largest share of the market in 2020. Holter monitors are one of the most preferred choices for cardiac monitoring. Moreover, these devices are capable of long-term usage for diagnosis of sporadic symptoms and offer faster and convenient monitoring. However, the mobile cardiac telemetry segment is expected to grow at the highest CAGR during 2021–2028.


Arrythmia Monitoring Devices Market, by Type – 2020 and 2028

Arrythmia Monitoring Devices Market, by Type – 2020 and 2028
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Application -Based Insights

Based on application, the arrythmia monitoring devices market is segmented into bradycardia, tachycardia, atrial fibrillation, ventricular fibrillation, premature contraction, and others. The atrial fibrillation segment held the largest share of the market in 2020 and is estimated to register the highest CAGR during the forecast period. The market growth for the atrial fibrillation segment can be attributed to elevating prevalence of atrial fibrillation and rise in aging population.

End User-Based Insights

Based on by end user, the arrythmia monitoring devices market segmented into hospitals and clinics, ambulatory centers, diagnostic centers, and others. The hospitals and clinics segment held the largest share of the market in 2020. The rising number of multispecialty hospitals and people’s preference for hospitals over other healthcare settings are the prime forces driving the growth of the market for the hospitals and clinics segment. However, the ambulatory centers segment is anticipated to register the highest CAGR in the market during the forecast period.

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Arrythmia Monitoring Devices Market: Strategic Insights

Market Size Value inUS$ 6,212.59 Million in 2021
Market Size Value byUS$ 9,742.95 Million by 2028
Growth rateCAGR of 6.6% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Companies operating in the arrythmia monitoring devices market emphasize on adopting the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.

Arrythmia Monitoring Devices Market – by Type

  • ECG Monitors
  • Implantable Monitors
  • Holter Monitors
  • Mobile Cardiac Telemetry
  • Others

Arrythmia Monitoring Devices Market – by Application

  • Bradycardia
  • Tachycardia
  • Atrial Fibrillation
  • Ventricular Fibrillation
  • Premature Contraction
  • Other Applications

Arrythmia Monitoring Devices Market – by End User

  • Hospitals and Clinics
  • Ambulatory Centers
  • Diagnostic Centers
  • Other End Users

Arrythmia Monitoring Devices Market– by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Abbott
  • Koninklijke Philips N.V.
  • General Electric Company
  • Hill-Rom Holding Inc.
  • Medtronic
  • Biotronik, Inc.
  • AliveCor, Inc
  • ACS Diagnostics
  • Medicalgorithmics
  • OSI Systems, Inc
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type ; Application ; End User and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What is arrythmia monitoring devices?

Arrhythmia refers to irregular heartbeat where the heart may beat too fast, too slowly, too early, or irregularly. Arrhythmia monitoring devices are used to track the function of the heart sustaining a continuous record of the heart function and report any abnormalities in the rhythm of the heart.

What are the driving factors for the arrythmia monitoring devices market across the globe?

The factors that are driving growth of the market are Increase in cardiovascular disease incidence, rising developments in cardiovascular devices, and surge in geriatric population. Also, high penetration in developing nations is accelerating the growth of the market.

Who are the major players in the arrythmia monitoring devices market?

The Arrythmia Monitoring Devices market majorly consists of the players such as Abbott, Koninklijke Philips N.V., General Electric Company, Hill-Rom Holding Inc., Medtronic, Biotronik, Inc., AliveCor, Inc, ACS Diagnostics, Medicalgorithmics, and OSI Systems, Inc amongst others.

The List of Companies - Arrythmia Monitoring Devices Market

  1. Abbott
  2. Koninklijke Philips N.V.
  3. General Electric Company
  4. Hill-Rom Holding Inc.
  5. Medtronic
  6. Biotronik, Inc.
  7. AliveCor, Inc
  8. ACS Diagnostics
  9. Medicalgorithmics
  10. OSI Systems, Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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