The report “Cardiac Monitoring & Cardiac Rhythm Management Devices Market CM [ECG (Resting, Stress, Holter Monitor), COM Devices, Implantable Loop Recorders, Event Monitors], CRM (Defibrillators (ICDs, External), Pacemakers, CRT-D, CRT-P) – Global Forecast to 2021″ , provides a detailed overview of major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global market along with estimates and forecast of revenue.
The global cardiac monitoring and cardiac rhythm management devices market is projected to reach USD 28.00 Billion by 2021 from USD 22.19 Billion in 2016, at a CAGR of 4.8% from 2016 to 2021.
Factors such as increasing incidence of cardiovascular diseases, technological advancements, and rise in private institutional nursing and home care are driving the CM & CRM devices market. However, dearth of skilled healthcare professionals with expertise in electrocardiography and cardiac monitoring and limited reimbursements for remote cardiac monitoring devices are major factors restraining the growth of the CM & CRM devices market.
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The market is segmented on the basis of product, end user, and region. On the basis of product, the CM devices market is segmented into ECG devices, implantable loop recorder (ILR), and cardiac output monitoring (COM) devices, and event monitors. The ECG devices segment is the largest and fastest-growing product segment due to increasing incidence of cardiovascular diseases.
On the basis of product, the CRM devices market is segmented into defibrillators, pacemakers, and cardiac resynchronization therapy (CRT) devices. The defibrillators segment is the largest and fastest-growing segment.
On the basis of end user, the market is segmented into home and ambulatory care, hospitals, and other end users (research institutes and laboratories). The home and ambulatory care segment is expected to account for the largest share of the market in 2016.
On the basis of region, the CM & CRM devices market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2015, North America accounted for the largest share of the CM & CRM devices market, followed by Europe. However, Asia is expected to account for the largest share during the forecast period. The growth of the CM & CRM devices market in the Asia will revolve around China, India, and Japan.
Major players operating in the CM & CRM devices market are Medtronic plc (Ireland), GE Healthcare (U.S.), Boston Scientific Corporation (U.S.), Philips Healthcare (Netherlands), and St. Jude Medical, Inc. (U.S.)
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