The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cardiac arrhythmia monitoring devices market report forecasts the cardiac arrhythmia monitoring devices market size to grow to $9.84 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Cardiac Arrhythmia Monitoring Devices Market Size Forecast
The global cardiac arrhythmia monitoring devices market is expected to grow from $6.87 billion in 2022 to $7.39 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac arrhythmia monitoring devices market size is expected to grow to $9.84 billion in 2027 at a CAGR of 7.4%.

North America held the largest cardiac arrhythmia monitoring devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Cardiac Arrhythmia Monitoring Devices Market Driver ­– Growth In The Prevalence Of Cardiovascular Diseases
For instance, in 2020, the Center for Disease Control and Prevention, a US-based federal agency for national public health, estimated that approximately 69.7k people died from heart disease—that’s 1 in every 5 deaths in the United States. Therefore, the growing prevalence of cardiovascular diseases is driving the growth of the cardiac arrhythmia monitoring devices market.

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Key Cardiac Arrhythmia Monitoring Devices Market Trend – Technological Advancement
Major companies operating in the cardiac arrhythmia monitoring devices market are focused on research and development for product innovations using advanced technologies to provide superior patient care. For instance, in May 2021, iRhythm Technologies, Inc., a US-based company operating in ambulatory cardiac monitoring solutions, introduced the AI capabilities in the Zio monitor, their flagship monitor, to improve rhythm and beat diagnostic accuracy by collecting high-quality data for analysis which helps physicians identify, diagnose, and manage a wide array of significant arrhythmias, including atrial fibrillation. Zio monitors are 50% lighter than the current monitors present in the market with the new breathable and waterproof outer layer which provides a more flexible design for a secure attachment and more comfortable wear. Additionally, AI capabilities enhance the average rhythm detection sensitivity of iRhythm’s detection algorithm by 21% to provide accurate diagnostic data.

Cardiac Arrhythmia Monitoring Devices Market Segment
1) By Type: Standards in Ambulatory Cardiac Monitoring, Patient- and Event-activated Intermittent Recorders, External Loop Recorder, Pre-symptom Memory Loop Cardiac Event Recorder, Post-symptom Event Recorder, Continuous Real-time Attended Remote Cardiac Monitors, Mobile Cardiac Outpatient Telemetry System, Vital Signs Transmitter (Bio Watch Medical)
2) By Device: Holter Monitor, Event Recorder, Mobile Cardiac Telemetry, Implantable Cardiac Monitor, Electrocardiogram (ECG) Monitor, Other Devices
3) By Application: Tachycardia, Bradycardia, Premature Contraction, Other Applications
4) By End-use: Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers, Homecare Settings, Other End-uses

Cardiac Arrhythmia Monitoring Devices Market Major Players and Strategies
Major players in the cardiac arrhythmia monitoring devices market are AliveCor Inc., Biotronik, GE Healthcare, iRhythm Technologies Inc., Koninklijke Philips N.V., Medtronic plc, Nihon Kohden Corporation, Smart Solutions Technologies S.L., Abbott Laboratories, Spacelabs Healthcare, Hill-Rom Services Inc., ACS Diagnostics Inc., Biotricity Inc., Boston Scientific Corporation, Medi-Lynx Cardiac Monitoring LLC, and Siemens AG.

In January 2021, Boston Scientific Corporation, a US-based company operating in cardiac arrhythmia monitoring devices, acquired Preventice Solutions Inc. for an undisclosed amount. Through this acquisition, Boston Scientific Corporation aims to enter the high-growth ambulatory electrocardiography space, which complements its implantable cardiac monitor segment and gives it a market advantage in cardiac diagnostics and services. Preventice Solutions, Inc. is a US-based company operating in cardiac arrhythmia monitoring devices.

The Cardiac Arrhythmia Monitoring Devices Global Market Report 2023 covers regional data on cardiac arrhythmia monitoring devices market size, cardiac arrhythmia monitoring devices market trends and drivers, opportunities, strategies, and cardiac arrhythmia monitoring devices market competitor analysis. The countries covered in the cardiac arrhythmia monitoring devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The cardiac arrhythmia monitoring device is a device used for monitoring the arrhythmia (irregular beating) condition of the heart.

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