What Is The Current and Historic Market Size Analysis Of The Remote Cardiac Monitoring Market?
The remote cardiac monitoring market has seen considerable growth due to a variety of factors.
• The remote cardiac monitoring market has seen exponential growth recently. It will rise from $6.21 billion in 2024 to $7.61 billion in 2025, at a compound annual growth rate (CAGR) of 22.5%.
This growth is attributed to the increasing prevalence of cardiovascular diseases, the growing elderly population, favorable regulatory approvals, a focus on preventive healthcare, and increased investment in health-tech startups.
What Is The Forecast For The Remote Cardiac Monitoring Market Size?
The remote cardiac monitoring market is expected to maintain its strong growth trajectory in upcoming years.
• The remote cardiac monitoring market is expected to grow rapidly, reaching $17.29 billion by 2029 at a CAGR of 22.8%.
Factors driving this growth include the expansion of healthcare infrastructure, increasing awareness in emerging markets, the continued rise of telehealth services, the growing consumer interest in wearable health tech, and efforts to reduce healthcare costs by preventing hospital readmissions. Key trends include AI and machine learning integration with telehealth platforms, improvements in data security and privacy, the development of personalized monitoring solutions, the use of cloud-based platforms for data storage and analysis, and technological advancements.
What Are The Essential Drivers Behind The Growth Of The Remote Cardiac Monitoring Market?
The surge in cases of cardiovascular diseases is anticipated to drive the growth of the remote cardiac monitoring market in the future. Cardiovascular diseases, which consist of conditions like coronary artery disease, heart failure, arrhythmias, and hypertension, are related to disorders of the heart and blood vessels. The surge is mainly due to factors such as unhealthy diets, lack of physical activity, higher occurrence of obesity and diabetes, and aging populations. The necessity of remote cardiac monitoring for cardiovascular diseases is evident in its ability to provide ongoing, live tracking of heart health, facilitating early diagnosis, prompt action, and better management of these diseases. For example, a report published by the American College of Cardiology, a non-profit medical organization based in the US, in August 2022 predicted substantial increases in cardiovascular risk factors in the US, with diabetes expected to increase by 39.3% to 55 million individuals and stroke cases expected to surge by 33.8% to 15 million by 2060. Hence, the escalating prevalence of cardiovascular diseases will spur the growth of the remote cardiac monitoring market.
How Is The Global Remote Cardiac Monitoring Market Divided Into Key Segments?
The remote cardiac monitoring market covered in this report is segmented –
1) By Type: Devices, Software, Services
2) By Indication: Bradycardia, Tachycardia, Atrial And Ventricular Fibrillation, Other Indications
3) By End User: Hospitals And Clinics, Emergency Settings, Homecare Settings, Other End Users
Subsegments:
1) By Devices: Wearable ECG Monitors, Implantable Loop Recorders (ILRs), Mobile Cardiac Telemetry Devices, Cardiac Event Monitors, Smartwatches With Heart Monitoring Capabilities
2) By Software: Cardiac Monitoring and Analysis Software, Data Management Software, Cloud-Based Remote Monitoring Platforms, Mobile Applications For Patient Monitoring
3) By Services: Remote Cardiac Monitoring Services, Data Interpretation And Reporting Services, Telehealth Consultation Services, Device Maintenance And Technical Support Services
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What Emerging Trends Are Influencing The Growth Of The Remote Cardiac Monitoring Market?
Leading businesses in the remote cardiac monitoring market are producing high-tech solutions such as ultrasound systems to boost the precision and ease of heart health monitoring. The term ultrasound system pertains to a medical apparatus utilized for conducting ultrasound imaging. As an example, in December 2022, Royal Philips unveiled the Ultrasound Compact System 5000 Series that provides exceptional diagnostic quality, mobility, compatibility with EPIQ Elite and Affiniti transducers, and includes Collaboration Live telemedicine software for immediate remote consultations. This system offers access to high-quality cart-based diagnostics, focusing on portability and adaptability while preserving superior image fidelity and performance.
Who Are the Key Players In The Remote Cardiac Monitoring Market?
Major companies operating in the remote cardiac monitoring market are:
• Abbott Laboratories
• Honeywell International Inc.
• Medtronic Plc
• Koninklijke Philips N.V.
• GE Healthcare
• ZOLL Medical Corporation
• Boston Scientific Corporation
• Hill-Rom Holdings Inc.
• Masimo Corporation
• Biotronik SE
• Nihon Kohden Corporation
• OSI Systems Inc.
• Irhythm Technologies Inc.
• BioTelemetry Inc.
• Spacelabs Healthcare Inc.
• AMC Health
• Huma Limited
• Alivecor Inc.
• Contec Medical Systems Co. Ltd.
• InfoBionic Inc.
• Bardy Diagnostics Inc.
• ChroniSense Medical Ltd.
• Ejenta Inc.
• Cardiomo Care Inc.
• Vitls Inc.
What Are The Regional Insights Into The Remote Cardiac Monitoring Market?
North America was the largest region in the remote cardiac monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the remote cardiac monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
