Overall, healthcare industry is experiencing a great growth in terms of technological advancements and sector-to-sector improvements. The same is the case in the market of cardiac devices. This growth was constant even during the recession period the market experienced three to five years ago. The cardiac monitoring market is divided into two basic segments, which are cardiac rhythm management (CRM) devices and conventional cardiac monitoring devices. Both these type of devices have a great global market. Both conventional devices and CRM devices are further segmented into a variety of devices based on their applications. Advancements in the technologies of these devices is a positive sign for the customers and health care providers in need.
Cardiac Monitoring Devices Segments
Various sub-segments of conventional cardiac monitoring market include Holter monitors, ECG, cardiac output monitors and implantable loop monitors. ECG devices are further classified into stress and resting devices. Pre-symptom and post-symptom are the basic types of event monitors, while non-invasive and minimally invasive are the basic types of cardiac output monitors. It is the same case with advanced cardiac rhythm monitors. These monitors are divided into various types based on their applications. Defibrillators, cardiac resynchronization therapy devices and pacemakers are the basic types of CRM devices. These basic types are further classified into other segments based on their applications.
Cardiac Monitoring Market Trends and Forecasts
Increasing number of patients suffering from cardiac and cardiovascular diseases, positive approach of governments towards cardiac monitoring, increased treatment cost for cardiovascular diseases and higher technological advancements are some major driving factors for cardiac monitoring market. The boosting trends in the market are visible in the research reports for it. The market was worth 18.4 billion dollars in 2012, which will increase at a healthy CAGR by the end of next four to five years. ECG data management systems, mobile cardiac telemetry and remote patient monitoring devices have a great potential in terms of demands.
The global market is likely to increase for the CRM devices such as MRI pacemakers, home automated external defibrillators (AEDs), etc. are likely to witness huge increase in demand. Presently North America is the biggest global market for cardiac monitoring and cardiac rhythm management devices. Countries like USA and Canada are followed by geographical regions like Europe and Asia. Both North America and Europe will witness a steady growth in the years to come. However, Asian countries like China and India will experience increased demand for these devices.
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