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Cardiac Patch Monitor Market

Cardiac Patch Monitor Market

by Product CM (ECG (Holter Monitor), ILR, and Event Monitor), CRM (Defibrillator (ICD) External (AED), Pacemaker (CRT P), and Dual Chamber Pacemaker), and End User (Hospitals, Clinics, Cardiac Centers, Ambulatory Surgery Centers (ASCs), and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14020
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Nov 2022 | 1406 Views
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A cardiac patch monitor is a small, lightweight, and water-resistant medical device that records the electrical development of the heart (ECG). It is about the size of a pager. It translates the recorded data and subsequently assists the medical expert in analyzing whether the heart is getting optimum oxygen. It further helps the medical practitioner in diagnosing complications related to irregular cardiovascular rhythms, including arrhythmia, tachycardia, and atrial fibrillation. Rise in cases of cardiovascular diseases is boosting the demand for manufacturing and distribution of cardiac patch monitors across the globe.

COVID-19 Impact Analysis

  • Increase has been witnessed in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. The need for medical supplies has increased significantly among both from healthcare professionals and civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the global cardiac patch monitor market.

Top Impacting Factors
Rising incidents of chronic illness coupled with growing awareness about new age medical devices associated with diagnosis and treatment of heart ailments is anticipated to drive the market growth.
Favorable reimbursement policies coupled with rise of regional players eyeing the share in the field of medical equipment and robust government support is further anticipated to drive market growth.

Rise of geriatric population across globe coupled with loss of demographic dividend in Japan and South Korea is expected to further propel the market growth.

However, a major restraint of cardiac patch monitor market is the risk of associated cybersecurity vulnerabilities. Untimely and inefficient prevention of cybersecurity threat may hamper the growth in gross revenue for cardiac patch monitor market. 

Additionally, huge costs associated with development of cardiac patch monitors may hamper the growth of cardiac patch monitor market in regions with less purchasing power parity including Middle East and Africa.
Key Market Trends

  • North America is expected to witness highest market traction, owing to frequent clinical trials, establishment of latest research & development centers, and favorable reimbursement policies. 
  • Europe is anticipated to witness huge market growth due rise in incidents of heart ailments, developing medical services centers, and accessibility to latest technologically integrated medical devices in the region. 
  • Asia Pacific is anticipated to witness huge surge in the sale of cardiac patch monitors, owing to rise in geriatric people coupled with rise of medical equipment manufacturers in India, China, and Japan.
  • Latin America is anticipated to witness huge gains, owing to the developing medical device industry in the region coupled with rise in disposable income.
  • However, the Middle East and Central Africa are anticipated to witness slow growth with respect to cardiac patch monitors owing to reasons such as fragile economic conditions, inefficient legal regulatory norms, and lack of skillful medical specialists & practitioners residing in the region.

Key Benefits of the Report

  • This study presents the analytical depiction of the cardiac patch monitor industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the cardiac patch monitor market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the Cardiac Patch Monitor Report

  • Which are the leading players active in the cardiac patch monitor market?
  • How is each segment of the market expected to grow during the forecast period?
  • What are the adoption trends for the cardiac patch monitor market in emerging economies and established economies across the world?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What future projections would help in taking further strategic steps?
  • What are the impacts of COVID-19 in the industry?
  • What is cardiac patch monitor?
  • What is the cardiac patch monitor market prediction in the future?
  • What are the current trends and predicted trends?

Cardiac Patch Monitor Market Report Highlights

Aspects Details
By Product CM
  • ECG (Holter Monitor)
  • ILR
  • Event Monitor
  • Defibrillator (ICD) External (AED)
  • Pacemaker (CRT P)
  • Dual Chamber Pacemaker
By End User
  • Hospitals
  • Clinics
  • Cardiac Centers
  • Ambulatory Surgery Centers (ASCs)
  • Others
By Region
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
Key Market Players Medtronic, Boston Scientific, Abbott Laboratories, GE Healthcare, BIOTRONIk, Koninklijke Philips, Asahi Kasei Corporation, MicroPort Scientific Corporation, Hill-Rom Holdings, Nihon Kohden, SCHILLER AG, BioTelemetry, BPL Medical Technologies, ACS Diagnostics, Shenzhen Mindray Bio-Medical Electronics, Lepu Medical Technology, Shree Pacetronix, OSYPKA,, BTL t, Alivecor, Inc., Amiitalia, Bexen Cardio, Narang Medical Limite, MeTrax GmbH, Progetti S.r.l.

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