Global Cardiac Monitoring Market poised for a 5.84% CAGR over the forecast period, fueled by advancements in AI-powered devices, increased prevalence of cardiovascular diseases, and expanding home-based care solutions.
Pune, Jan. 06, 2025 (GLOBE NEWSWIRE) — “According to SNS Insider, The Cardiac Monitoring Devices Market was valued at USD 29.15 billion in 2023 and is expected to reach USD 48.58 billion by 2032, growing at a CAGR of 5.84% over the forecast period from 2024 to 2032. Growth in the market is primarily driven by advancements in technology, the increasing prevalence of heart diseases, and the growing demand for remote monitoring solutions in healthcare
Driving Factors and Expanding Supply Chain of the Cardiac Monitoring Devices Market
The growth in the Cardiac Monitoring Devices Market is driven by the rising incidence of cardiovascular diseases (CVDs) worldwide. These devices find their demand due to real-time monitoring of heart health, which enables early detection of any problem. Increasing sedentary lifestyles, bad eating habits, and stress lead to an increase in the number of patients suffering from cardiovascular diseases, hence the demand for monitoring devices.
The market supply chain is on the rise, which is spurred by innovations in wireless and portable monitoring devices, as well as by the increasing preference for home-based care solutions. Hospitals, diagnostic centers, and home healthcare providers are key suppliers of cardiac monitoring devices. Moreover, the introduction of user-friendly, cost-effective, and technologically advanced devices is further pushing the growth of the market, while also opening up access to cardiac health monitoring globally. In addition, technological advancements are in the form of AI-based devices and remote monitoring solutions, which are increasingly added to the market, and enhance their demand.
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Major Players Analysis Listed in this Report are:
- Medtronic
- Abbott
- Boston Scientific Corporation
- iRhythm Technologies Inc.
- GE Healthcare
- Biotronik Inc.
- SCHILLER Healthcare India Pvt. Ltd
- Koninklijke Philips N.V.
- MicroPort Scientific Corporation
- Honeywell Life Care
Cardiac Monitoring Devices Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 29.15 billion |
| Market Size by 2032 | US$ 48.58 billion |
| CAGR | CAGR of 5.84% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By Type:
In 2023, Cardiovascular Devices segment dominated the market with 40% Market share, due to the essential role these devices play in diagnosing, monitoring, and treating heart-related conditions such as arrhythmias, heart failure, and hypertension. Devices such as ECG monitors, defibrillators, and stents are crucial in hospitals, clinics, and diagnostic centers. The rising prevalence of cardiovascular diseases and growing healthcare investments globally continue to drive the demand for these devices.
By Product Type:
Multi-parameter ECG Monitors dominated the market in 2023, accounting for 30% of the overall market share. These monitors are essential for tracking multiple vital signs, such as heart rate, blood pressure, and oxygen levels, making them crucial for patients with complex heart conditions. The growing need for real-time, continuous monitoring in hospital and outpatient settings has contributed to the dominance of this segment. The demand for these monitors is expected to remain high as they allow healthcare providers to offer comprehensive diagnostics for cardiac patients.
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Cardiac Monitoring Devices Market Segmentation:
By Type
- Cardiovascular Devices
- Multi-Parameter ECG Monitors
- Patient Monitoring Devices
- Ambulatory Cardiac Monitoring
- Cardiac Monitors
By Product Type
- Portable Monitor
- Smart Wearable Monitor
- Standard Monitor
By Application
- Coronary Heart Diseases
- Sudden Cardiac Arrest
- Stroke
- Arrhythmia
- Congenital Heart Diseases
- Heart Failure
- Pulmonary Hypertension
- Heart Function
- Pulmonary Artery Pressure
Regional Analysis
North America accounted for more than 35% of the overall share of the global cardiac monitoring devices market in 2023. High healthcare spending, high healthcare expenditure, advanced medical infrastructure, and a high incidence of cardiovascular diseases are driving this market dominance in the region. These factors, combined with technological innovation and the adoption of wearables, have supported increased market growth in the North American region.
The contribution of Europe was after North America, which significantly influenced the overall market. Improved heart disease awareness, better accessibility of healthcare services, and stronger government support for healthcare innovation positively impact the European market. The growing geriatric population with a rising demand for home-based monitoring devices is another factor boosting the market.
Asia-Pacific is expected to see the fastest growth over the forecast period. The increasing prevalence of heart diseases, rising healthcare investments, and increasing demand for affordable healthcare solutions drive the market in this region. China and India are emerging as key markets in this region, with large populations, increased awareness of heart health, and government initiatives to improve healthcare infrastructure.
Recent Developments
- In November 2024, Monitra Health secured a US patent for its innovative wireless cardiac monitoring technology. The newly patented device features a wireless patch designed to enhance patient compliance and improve diagnostic accuracy in cardiac monitoring.
- In July 2024, Octagos Health raised over USD 43 million in a Series B funding round, led by Morgan Stanley Expansion Capital and supported by Mucker Capital and other investors. This investment will aid in advancing the company’s AI-driven cardiac device monitoring solutions, accelerating its mission to transform cardiac care.
- In May 2024, OMRON Healthcare India partnered with AliveCor to launch AI-powered home heart health monitoring devices. This collaboration aims to enhance at-home cardiac care with advanced technology, enabling better monitoring and early detection of heart issues.
- In May 2024, WearLinq acquired AMI Cardiac Monitoring and secured USD 6.7 million in funding to develop its FDA-cleared 6-lead ECG device. This acquisition strengthens WearLinq’s position in the cardiac monitoring market, broadening its product offerings and enhancing its competitiveness.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cardiac Monitoring Devices Market Segmentation, by Type
8. Cardiac Monitoring Devices Market Segmentation, by Product Type
9. Cardiac Monitoring Devices Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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