Cardiac monitoring & cardiac rhythm management devices market to reach USD 26.4B

Cardiac monitoring & cardiac rhythm management devices market in terms of revenue was estimated to be worth $21.3 billion in 2024 and is poised to reach $26.4 billion by 2029, growing at a CAGR of 4.3% from 2024 to 2029 according to a new report by MarketsandMarkets™.

Market is driven by factors such as rising in aging population as the global population ages, there is a higher incidence of cardiac conditions associated with aging, such as atrial fibrillation and heart failure. On the other hand, Cost Constraints is expected to limit market growth to a certain extent in the coming years. As High upfront costs associated with cardiac monitoring and rhythm management devices may limit adoption, particularly in resource-constrained healthcare settings or for patients without adequate insurance coverage. Likewise, Continued advancements in technology offer opportunities for the development of more sophisticated and effective cardiac monitoring and rhythm management devices. Innovations such as miniaturization, wireless connectivity, artificial intelligence (AI), and remote monitoring capabilities can improve device performance, patient outcomes, and user experience. However, availability of lack of practiced professionals is anticipated to hinder market development.

Resting ECG in ECG type segment to witness the highest shares during the forecast period.”
Based on the type, the global cardiac monitoring & cardiac rhythm management devices market is segmented into resting ECG devices, stress ECG devices, holter monitors, smart ECG monitors, event monitors. The Resting ECG devices is expected to dominate because of its wider application. Resting ECG is the most commonly performed type of ECG test and is widely used in clinical practice for routine cardiac screening, diagnosis, and monitoring. It is a non-invasive, cost-effective, and readily available diagnostic tool that can be performed quickly and easily in various healthcare settings. Similarly, Resting ECG is accessible to a wide range of healthcare providers, including primary care physicians, cardiologists, emergency department staff, and allied healthcare professionals. The simplicity and affordability of resting ECG make it accessible to patients in various healthcare settings, including hospitals, clinics, and ambulatory care facilities.

US dominates the North American cardiac monitoring & cardiac rhythm management devices market
Based on the North America region, the cardiac monitoring & cardiac rhythm management devices market is divided into US and Canada. US is expected to dominate the cardiac monitoring & cardiac rhythm management devices Market. The United States has a highly advanced and sophisticated healthcare infrastructure, including research facilities, laboratories, and healthcare institutions. This infrastructure supports the development, adoption, and implementation of advanced diagnostic screening such as cardiac. Similarly, The U.S. is a global hub for biomedical research and innovation. The presence of leading research institutions, academic centers, and biotechnology companies fosters a conducive environment for the development and validation of novel diagnostic as well as research of cardiac devices.

Japan dominates the Asia Pacific cardiac monitoring & cardiac rhythm management devices market
The APAC carrier screening market is segmented into Japan, China, India, and Rest of APAC. In 2023, Japan accounted for the largest share of the Asian cardiac monitoring & cardiac rhythm management devices Market. The large share of Japan can be attributed to the presence of Advanced healthcare infrastructure, as Japan boasts a highly advanced healthcare infrastructure with modern medical facilities, state-of-the-art equipment, and well-trained healthcare professionals. The country’s advanced healthcare system enables the adoption of cutting-edge cardiac monitoring and rhythm management technologies similarly, Japan has one of the oldest populations globally, with a large proportion of elderly individuals who are at increased risk of developing cardiovascular diseases. Moreover, Japan has a relatively high level of healthcare expenditure, with substantial investments in medical infrastructure, research and development, and healthcare services. MarketsandMarkets™