High Prevalence of Cardiovascular Diseases to Augment Growth of Cardiac Monitoring Devices Market

Cardiac monitoring is now more accurate than ever, enabling families to quickly assess the health of their loved ones before any drastic medical procedures are required. Today, many people are choosing to use cardiac monitoring devices as a solution to their existing health care needs rather than undergo invasive procedures. Since the benefits of such devices far outweigh the potential drawbacks, there are several different types of end devices that can allow you to get the information you need fast and without invasive measures. The following are different types of cardiac monitor available: Holter Monitor, Event Monitor, Loop Monitor, Insertable Cardiac Monitor (ICM), and Mobile Cardiac Telemetry Devices.

Market Dynamics 
High prevalence of cardiovascular diseases is expected to propel growth of the cardiac monitoring devices market. For instance, according to the American Heart Association's Heart and Stroke Statistics 2019 Update, around 48% of all adults in the U.S. suffered from some type of cardiovascular disease in 2016. Moreover, launch of remote cardiac monitoring solutions is also expected to aid in growth of the market. For instance, in November 2019, Bittium Corporation, a Finland-based cardiology and neurology device company, presented Bittium HolterPlus, a web-based remote cardiac monitoring solution, consisting of a Bittium Faros ECG device and Bittium HolterPlus mobile application, at Medica 2019, a leading international trade fair for the medical sector that was held in Germany.

Increasing investment in cardiac monitoring is expected to offer lucrative growth opportunities for players in the cardiac monitoring devices market. For instance, in December 2019, Biotricity Inc., a medical diagnostic and consumer healthcare technology company, raised US$ 6 million for FDA Filing for its patch solution within the first 6 months of 2020, which will be a novel product in the field of Holter monitoring.Among regions, Asia Pacific is expected to witness significant growth in the cardiac monitoring devices market, owing to high prevalence of atrial fibrillation. For instance, according to the study ‘Prevalence of atrial fibrillation (AF) in different socioeconomic regions of China and its association with stroke: Results from a national stroke screening survey’, published in June 2018, the prevalence of AF among Chinese adults aged 40 years in 2014–2015 was 2.31%.

Competitive Analysis 
Major players operating in the cardiac monitoring devices market include, Philips Healthcare, Medtronic, Boston Scientific, VivaQuant, Bittium Corporation, Cardiac Science, LifeWatch, CareTaker Medical, Spacelabs, St. Jude Medical, Kohden, CardioNet, and Mortara Instrument.

April 2019: VivaQuant, a digital health company, received the U.S. FDA clearance for its RX-1 wearable device that can operate as a Holter monitor.


 

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