The global cardiac arrhythmia monitoring devices market is estimated to be valued at US$ 3.8 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: Cardiac arrhythmia monitoring devices help patients and medical professionals effectively monitor heart rhythms in three main ways – by recording heartbeats over a long period through external monitors, short-term event monitors or implantable loop recorders. This comprehensive monitoring helps improve diagnosis of arrhythmias.
Weakness: Some cardiac monitors have limited battery life which may not be adequate for long term continuous monitoring. Also, frequent or unnecessary alarms from the devices can cause anxiety in some patients.
Opportunity: Rising geriatric population vulnerable to arrhythmias presents an opportunity for device manufacturers. Developing lightweight, wearable cardiac monitors with advanced features can further expand the market.
Threats: Stringent regulations for approval of new cardiac devices may delay market entry of novel products. Data security and privacy concerns regarding connectivity of wireless cardiac monitors can negatively impact adoption.
Key Takeaways
The Global Cardiac Arrhythmia Monitoring Devices Market Demand is expected to witness high growth.
Regional analysis: North America currently dominates the market due to presence of major players and rising cases of cardiovascular diseases. Asia Pacific is projected to grow at the fastest rate during the forecast period due to expanding healthcare infrastructure and growing medical tourism in countries like India and China.
Key players related content comprises Key players operating in the Cardiac Arrhythmia Monitoring Devices market are Denso Corporation, Valeo SA, Calsonic Kansei Corporation, Mahle GmbH, Sanden Holdings Corporation, TYC Brother Industrial Co. Ltd., Modine Manufacturing Company, Sciton Inc., Keihin Corporation, PWR Advanced Cooling Technology, Griffin Thermal Products, and Saldana Racing Products.
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