Europe Arrythmia Monitoring Devices Market is expected to reach US$ 2,638.61 Mn by 2028

Holter Monitors Segment to Dominate Europe Arrythmia Monitoring Devices Market during 2020–2028

According to The Insight Partners market research study on “Europe Arrythmia Monitoring Devices Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and End User,” is expected to reach US$ 2,638.61 million by 2028 from US$ 1,739.79 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the Europe arrythmia monitoring devices market along with the drivers and restraints pertaining to the market growth. Growing geriatric population base is the major factor driving the growth of the Europe arrythmia monitoring devices market. However, surge in cost of products and procedures hinder the growth of Europe arrythmia monitoring devices market.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. As per the Worldometer, as of 23 June 2021, Spain, UK, Italy, Germany, and France recorded 4,651,988; 4,254,294; 3,731,287; and 5,760,002, COVID-19 cases respectively, and the deaths toll is also high in these countries. The current coronavirus (COVID-19) outbreak has been declared by WHO as a public health emergency of international concern according to the International Health Regulation. Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes. Two consecutive waves of coronavirus had devastating impact on economic activities in the Europe. Implementation of social distancing and lockdown policies led to closing of cardiac centers and patient visits for elective heart treatments. This factor negatively impacted the adoption of arrhythmia monitoring devices in the region. The European Commission recently postponed the application date of the MDR for one-year due to COVID-19 pandemic. The Medical Device Regulation (MDR) requires manufacturers to conduct Post Market Clinical Follow-Up (PMCF) studies to demonstrate the continued safety and performance of their devices. This is expected to impact the new product launches and ongoing clinical trials of medical devices, impacting sales and growth of the Europe arrhythmia monitoring devices market. In addition, disrupted supply chains, extended lockdowns, and cancelling of travel visits of sales personnel of companies have also negativity affected the growth of the arrhythmia monitoring devices market

The market for arrythmia monitoring devices market is segmented into type, application, end user, and country. Based on type, the 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 2021. Based on application the arrythmia monitoring devices market is divided bradycardia, tachycardia, atrial fibrillation, ventricular fibrillation, premature contraction, and others. In 2021, the atrial fibrillation segment is likely to hold the largest share of the market, however atrial fibrillation segment is expected to grow at the fastest rate during the coming years. Similarly, based on end user, the market is bifurcated into into hospitals and clinics, ambulatory centers, diagnostic centers, others. The hospitals and clinics segment are likely to hold the largest share of the market in 2021, however the ambulatory centers segment is anticipated to register the highest CAGR of the market during the forecast period. 

Abbott; Koninklijke Philips N.V.; General Electric Company; Hill-Rom Holding Inc.; Medtronic; Biotronik, Inc.; AiveCor, Inc; Medicalgorithmics; OSI Systems, Inc; are among the leading companies in the Europe arrythmia monitoring devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, AliveCor received the US FDA approval for its next generation ECG algorithms Kardia AI V2. It is the most sophisticated AI and its visualizations provide the platform for delivery of new consumer and professional service offerings beyond AFib

The report segments the Europe Arrythmia Monitoring Devices Market as follows:

Europe Arrythmia Monitoring Devices Market – By Type

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

Europe Arrythmia Monitoring Devices Market – By Application

• Bradycardia
• Tachycardia
• Atrial Fibrillation
• Ventricular Fibrillation
• Premature Contraction
• Others

Europe Arrythmia Monitoring Devices Market – By End User

• Hospitals and Clinics
• Ambulatory Centers
• Diagnostic Centers
• Others

Europe Arrythmia Monitoring Devices Market – By Country

• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe