Wearable Ambulatory Monitoring Devices Market Highlights
Global Wearable Ambulatory Monitoring Devices Market is expected to register a CAGR of 6.48% during the forecast period with a market value of USD 4,990.8 Million till 2025. Wearable ambulatory monitoring devices are portable electrocardiograph machines attached either to patients’ body or inserted below the skin. They are used to record heart rhythms. Each type of monitor has differentiated in terms of length of heart rhythm recording time.
Wearable Ambulatory Monitoring Devices Market Segment Analysis
The Global Wearable Ambulatory Monitoring Devices Market has been segmented by product type. Based on product type, wearable ambulatory monitoring devices market has been segregated into cardiac event monitors, Holter monitor, mobile cardiac telemetry devices, and others.
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Wearable Ambulatory Monitoring Devices Market Regional Analysis
The Global Wearable Ambulatory Monitoring Devices Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas are likely to dominate the global wearable ambulatory monitoring devices market. This can be attributed to the high prevalence of cardiovascular diseases in the region. According to the American Heart Association (AHA), in 2015, an estimated 4 million Americans suffered from recurrent arrhythmias. Moreover, the rising health expenditure per person and increasing demand for advanced treatment options are also expected to drive market growth.
The European market for wearable ambulatory monitoring devices is estimated to be the second-largest during the review period. The high number of cases of arrhythmias in Europe is expected to boost the growth of the regional market. For instance, according to the statistics published by the National Health Service in 2018, arrhythmias are experienced by more than 2 million people per year in the UK. Additionally, the prevalence of high blood pressure is also increasing in Europe, which is further fueling the market growth.
Asia-Pacific is estimated to be the fastest-growing market owing to the increase in product launches in the region. For instance, in December 2017, Abbott Laboratories announced the launch of its first smartphone-compatible insertable cardiac monitor to detect arrhythmias in India. Moreover, the high prevalence of chronic diseases is also positively affecting the market growth.
The market in the Middle East & Africa is expected to witness steady growth due to the rising awareness regarding health and availability of new treatment & diagnostic methods in the Middle Eastern countries.
Wearable Ambulatory Monitoring Devices Market Key Findings of the Study
- The Global Wearable Ambulatory Monitoring Devices Market is estimated to reach USD 4,990.8 Million by 2025 at a CAGR of 6.48% during the assessment period
- The Americas accounted for the largest share of the global wearable ambulatory monitoring devices market due to the increasing incidence rate of cardiovascular diseases
- Based on product type, the cardiac event monitors segment accounted for the largest market share of 6% in 2018
Wearable Ambulatory Monitoring Devices Market Key Players
MRFR recognizes the following companies as the Key Players in the Global Wearable Ambulatory Monitoring Devices Market— General Electric Company (US), ACS Diagnostics (US), BioTelemetry (US), iRhythm Technologies, Inc. (US), Medicomp Inc. (US), Medtronic PLC (Europe), Preventice Solutions, Inc. (US), Telerhythmics, LLC (US), Hill-Rom Services Inc. (US), and ZOLL Medical Corporation (US).
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