Global Cardiac Monitoring Market Worth $23.3 Billion by 2017
DALLAS, January 28, 2013 /PRNewswire/ --
The report "Cardiac Monitoring & Cardiac Rhythm Management (CRM) Market [ECG, Implantable Loop Recorder, Holter, Implantable Cardioverter Defibrillator (ICD), Automated External Defibrillator (AED), Pacemaker, CRT-D, CRT- P] - Global Forecasts to 2017", analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
Browse 144 tables and 23 figures spread through 334 pages combined with an in-depth TOC on "Cardiac Monitoring & Cardiac Rhythm Management (CRM) Market [ECG, Implantable Loop Recorder, Holter, Implantable Cardioverter Defibrillator (ICD), Automated External Defibrillator (AED), Pacemaker, CRT-D, CRT- P] - Global Forecasts to 2017."
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This report studies the global cardiac monitoring and cardiac rhythm management devices market, with forecast to 2017.
The cardiac monitoring and cardiac rhythm management devices market is divided into two segments, namely, conventional monitoring devices and cardiac rhythm management (CRM) devices. The cardiac monitoring market includes ECG, Holter monitors, event monitors, implantable loop recorder (ILR), and cardiac output monitors. ECG is the largest segment, while ILR is the fastest growing segment of the conventional cardiac monitoring market. The CRM market is further segmented into defibrillators, pacemakers, and cardiac resynchronization therapy devices.
The global cardiac monitoring and cardiac rhythm management market was worth $18.4 billion in the year 2012. The market will grow at a healthy pace in the next five years due to the increasing incidence of cardiovascular diseases, technological advancement, rising cost of cardiac disease treatment, and government regulations in favor of cardiac monitoring.
Mobile cardiac telemetry, ECG data management systems, and remote patient monitoring offer vast opportunities for key players in this market. With the introduction of mobile telemetry and remote monitoring in the cardiac field, the use of home and ambulatory services is also on the rise.
The CRM devices market faced certain challenges in the recent past owing to research studies published in the Journal of the American Medical Association (JAMA) and hospital investigations conducted by the Department of Justice (DOJ), which reported the inappropriate use of these devices. This affected the sales of CRM devices.
The defibrillators and pacemakers markets showed flat growth rates in the U.S. from 2009 to 2011. However with technological advancements such as introduction of MRI pacemakers, subcutaneous ICDs, and home automated external defibrillators (AEDs), this market is expected to bounce back.
North America is the largest market for cardiac monitoring and cardiac rhythm management, with the U.S. accounting for the largest share, followed by Europe and Asia. North America and Europe is expected to grow at a slower pace, primarily due to the economic slowdown and market maturity. The Asian market, especially India and China, is expected to witness a boost in demand and is poised to register maximum growth over the next five years, owing to the rising incidence of cardiovascular diseases and increased purchasing power of patients.
The key players in the cardiac monitoring and cardiac rhythm management market are Boston Scientific (U.S.), Cardiac Science Corporation (U.S.), CardioNet (U.S.), GE Healthcare (U.K.), LifeWatch (Switzerland), Medtronic (U.S.), Mortara Instruments (U.S.), Philips Healthcare (The Netherlands), Schiller (Switzerland), Spacelabs Healthcare (U.S.), St. Jude Medical (U.S.), Welch Allyn (U.S.), and Zoll Medical Corporation (U.S.).
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