Market Size of North America Cardiac Arrhythmia Monitoring Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Cardiac Arrhythmia Monitoring Devices Market Analysis
Telecardiology, in general, provides a monitoring device that can be fixed on the chest area of the patients suffering from cardiac arrhythmia. Telecardiology is a cost-effective intervention for the elderly population affected by heart failure. In most of the cardiac disorders, continuous cardiac monitoring is required. Although cardiac arrhythmia cannot be cured completely, the best possible way to continuously monitor the patients suffering from cardiac arrhythmia is through remote patient monitoring. Since these devices improve the convenience of the patients, it is becoming extremely popular among both, patients and the doctors. Moreover, due to rising investments in cardiology informatics, connected devices, and mobile solutions for advanced cardiac care. Hence, owing to these factors, the market is expected to witness rapid growth in the forecast period.
North America Cardiac Arrhythmia Monitoring Devices Industry Segmentation
As per the scope of the report, cardiac arrhythmia monitoring devices refer to the instruments that are used to treat arrhythmia.
| By Device | |
| Event Monitoring Devices | |
| Continuous Rhythm Monitoring Devices | |
| Holter Monitoring Devices | |
| Other Devices |
| By Service Providers | |
| Mobile Cardiac Telemetry Monitoring Service Providers | |
| Independent Diagnostic Testing Facilities/Clinics |
| Geography | |||||
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North America Cardiac Arrhythmia Monitoring Devices Market Size Summary
The North American cardiac arrhythmia monitoring devices market is experiencing significant growth, driven by the increasing demand for telecardiology solutions. These devices, which can be affixed to patients' chests, offer a cost-effective way to monitor elderly individuals suffering from heart failure. Continuous monitoring is essential for managing cardiac disorders, and remote patient monitoring has become a popular choice among patients and healthcare providers due to its convenience. The market is further bolstered by rising investments in cardiology informatics, connected devices, and mobile solutions, which are enhancing advanced cardiac care. Holter monitoring devices are particularly dominant in the market, as they provide extended monitoring capabilities, improving patient compliance and treatment outcomes. Technological advancements, such as NASA's launch of a modified Holter monitor, are also contributing to market expansion.
The competitive landscape of the North American cardiac arrhythmia monitoring devices market is characterized by the presence of several major players, including BioTelemetry Inc., Cardiac Science Corporation, GE Healthcare, iRhythm Technologies Inc., and Abbott Laboratories. These companies are actively engaging in strategic initiatives like mergers, acquisitions, new product launches, and partnerships to strengthen their market positions. For example, iRhythm Technologies Inc. introduced the Zio patch, a device that enables patients to monitor their heartbeats. The prevalence of cardiovascular diseases, a leading cause of death in North America, underscores the necessity for advanced monitoring devices, thereby driving market growth. Market leaders with substantial research funding and robust distribution networks have solidified their positions, further fueling the industry's expansion.
North America Cardiac Arrhythmia Monitoring Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Use of Telecardiology
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1.2.2 Ease of Use and Portability of Cardiac Arrhythmia Monitoring Devices
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1.2.3 Development of Smart Cardiac Monitors
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1.3 Market Restraints
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1.3.1 High Cost of Remote Cardiac Arrhythmia Monitoring
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Device
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2.1.1 Event Monitoring Devices
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2.1.2 Continuous Rhythm Monitoring Devices
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2.1.3 Holter Monitoring Devices
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2.1.4 Other Devices
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2.2 By Service Providers
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2.2.1 Mobile Cardiac Telemetry Monitoring Service Providers
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2.2.2 Independent Diagnostic Testing Facilities/Clinics
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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North America Cardiac Arrhythmia Monitoring Devices Market Size FAQs
What is the current North America Cardiac Arrhythmia Monitoring Devices Market size?
The North America Cardiac Arrhythmia Monitoring Devices Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in North America Cardiac Arrhythmia Monitoring Devices Market?
BioTelemetry Inc., Cardiac Science Corporation, GE Healthcare, iRhythm Technologies Inc. and Abbott Laboratories are the major companies operating in the North America Cardiac Arrhythmia Monitoring Devices Market.
