[FURL=https://www.industryarc.com/Research/Cardiac-Monitoring-Cardiac-Rhythm-Management-Market-Research-5020091?utm_source=BriefingWire&utm_medium=Pressrelease&utm_campaign=PaidPressRelease]Cardiac Monitoring & Cardiac Rhythm Management Market[/FURL] size is estimated to be $20.6 billion in 2019, growing at a CAGR of 4.2% during the forecast period 2020-2025. Cardiac Monitoring devices are used by clinicians to assess the presence and severity of cardiac diseases and to evaluate the efficacy of treatments including drugs, interventions, operations and device implants. Cardiac Rhythm Management is a procedure wherein a device is implanted with the upper chest to control both fast and slow cardiac rhythm by using electrical pulses. Growing geriatric population and the increase in the number of people suffering cardiovascular diseases, technological advancement, and the increasing awareness among consumers regarding the benefits of cardiac monitoring devices are some of the key factors contributing to its market growth. Moreover, the remote cardiac monitoring devices or remote heart monitoring is a technique by which information from a patient’s implantable rhythm management device can be communicated directly to a physician's office. Therefore, the increasing developments and the benefits of remote cardiac monitoring are some of the key factors upsurging its market growth. Moreover, according to the Centers for Disease Control and Prevention heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the U.S. In addition, heart disease cost in the United States about $219billion each year from 2014 to 2015 which included the cost of health care services, medicines and lost productivity due to death.Key Takeaways
The defibrillators segment held the largest market share in the year 2019 owing to its benefits to reduce the risk of sudden death by terminating ventricular arrhythmias.
Hospitals accounted for the largest market share in 2019 owing to the increasing use of Cardiac Monitoring & Cardiac Rhythm Management in hospitals.
North America dominated the Cardiac Monitoring & Cardiac Rhythm Management Market owing to the rising geriatric population suffering from chronic diseases.
Technological Advancements in Cardiac Monitoring is a major factor driving Cardiac Monitoring & Cardiac Rhythm Management Market during the forecast period 2020-2025.
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Cardiac Monitoring & Cardiac Rhythm Management Market Drivers
Increasing incidence of chronic diseases
Technological Advancement in Cardiac Monitoring
Cardiac Monitoring & Cardiac Rhythm Management Market top 10 companies include General Electric Company, Koninklijke Philips N.V., Abiomed Inc., Berlin Heart GmBH, Medtronic Plc., Cardiac Science Corporation, 3M Pharmaceuticals, ELA Medica, Biotronik and Abbott Laboratories.
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