Arrhythmia Monitoring Devices Market

A cardiac arrhythmia is a group of conditions where the heartbeat is irregular, i.e., either, too slow, or too fast. The condition is also known as cardiac dysrhythmia. Arrhythmia monitoring devices are used by physicians to identify the type and the cause of irregular heart rhythms. The growing prevalence of cardiac diseases, rising FDA approvals for arrhythmia monitoring devices, and increase in the adoption of low-cost electrocardiogram (ECG) devices are some of the factors that are anticipated to drive the growth of the market over the forecast period. Despite the drivers, the rise in product recalls and complications associated with these devices may hamper the growth of the market.

The global arrhythmia monitoring devices market was valued at USD 5,522.0 million in 2018, and the market is estimated to grow at USD 8,087.4 million by 2024. In 2018, the Americas accounted for the largest market share of 39.8% with a market value of USD 2,198.7 million, followed by Europe with a market value of USD 1,657.9 million in 2018.

The global arrhythmia monitoring devices market has been segmented based on device type, application, end user, and region.

Based on device type, the resting ECG segment accounted for the largest market share of 31.2% in 2018, with a market value of USD 1,720.3 million, which is projected to register a CAGR of 6.0% during the forecast period.

Based on application, the tachycardia segment accounted for the largest market share of 25.6% in 2018, with a market value of USD 1,413.7 million, which is projected to register a CAGR of 6.83% during the forecast period.

On the basis of end user, the market has been segmented into hospitals and clinics, diagnostic centers, homecare settings, ambulatory surgery centers (ASCs), and others. The hospitals and clinics segment accounted for the largest market share of 31.5% in 2018, with a market value of USD 1,740.0 million, which is projected to register a CAGR of 7.09% during the assessment period.