Middle East And Africa Cardiac Monitoring Market Size (2024 - 2029)

Middle East and Africa Cardiac Monitoring Market Analysis

The Middle East And Africa Cardiac Monitoring Market size is estimated at USD 1.19 billion in 2024, and is expected to reach USD 1.38 billion by 2029, growing at a CAGR of 3.22% during the forecast period (2024-2029).

The market is driven by an increase in the prevalence of heart diseases, a growing aging population susceptible to coronary heart diseases, and improved efficiency of devices and product launches by the market players.

The rate of diagnosis of cardiovascular diseases is increasing over time due to the high incidence rate of cardiac diseases and the need to control the mortality rate through early diagnosis and treatment with the help of cardiac monitoring devices. Hence, a rise in the incidence of cardiovascular diseases is expected to drive the market. For instance, according to a study published in Cureaus Journal in November 2023, cardiovascular disease (CVD) remains a significant and escalating health concern. By 2035, it is projected to affect 479,500 individuals in Saudi Arabia. Additionally, the financial burden, encompassing both direct and indirect costs, is anticipated to triple, reaching USD 9.8 billion by 2030. Thus, the high burden of cardiac diseases in the Middle East and Africa is expected to increase demand for effective cardiac monitoring solutions, boosting the market growth over the forecast period.

Moreover, according to the United Nations Population Fund's World Population Dashboard Statistics 2022, in the United Arab Emirates, approximately 2% of the population was aged 65 years and above. In addition, as per the same source, approximately 4% of the population of the country will be aged 65 years and above in 2022. As the geriatric population is prone to suffer from various chronic diseases such as cardiovascular diseases, the anticipated increase in population is expected to fuel the demand for patient monitoring. Other factors, such as investments in R&D for innovative product development, ease of use and portability in devices, and the demand for home-based, point-of-care, and remote monitoring cardiac systems, are the major drivers for the market.

Market players adopting several strategies, such as product launches and mergers and acquisitions, are expected to contribute to segment growth over the forecast period. For instance, in May 2022, Tamer, a healthcare company in the Middle East, partnered with Huma to bring a "hospitals at home" technology platform with remote patient monitoring for people in Saudi Arabia. This health program is expected to begin with support for patients with cardiovascular diseases.

Thus, factors such as the high burden of cardiac diseases and the geriatric population, coupled with product launches, are expected to contribute to market growth over the forecast period. However, the rising rate of infections due to these devices has tremendous economic implications for hospitals.

Middle East and Africa Cardiac Monitoring Industry Segmentation

Cardiac monitoring devices are used to observe cardiac activity. Continuous monitoring of the heart is mandatory to assess a patient suffering from CVD. Cardiac monitoring devices record and display pressure and electrical waveforms of the cardiovascular system for measurement and treatment.

The Middle East and Africa cardiac monitoring market is segmented by device type, end user, and geography. By device type, the market is segmented into ECG monitor, event recorder, implantable cardiac loop recorder, pacemaker, smart wearable, and other device types. By end user, the market is segmented as hospitals and clinics, home care settings, and other end users. By geography, the market is segmented as GCC, South Africa, and Rest of Middle East and Africa.

The report offers the value (in USD) for the above segments.