The global remote cardiac monitoring services market size is forecast to reach USD 10.97 Billion by 2028, registering a CAGR of 11.5% over the forecast period according to a new report by Reports and Data. Major factors driving market revenue growth are increase in prevalence of cardiovascular diseases (CVD), increasing incidence of obesity, lower cost of remote monitoring and rising geriatric population. Due to the rise in the rate of occurrence of CVD, remote cardiac monitoring services are becoming increasingly relevant in the healthcare sector.
A wide range of other applications such as detection, monitoring, and treatment of heart activities along with identifying abnormal heart rhythm has also contributed to the growth of remote cardiac monitoring services market.
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Increase in rate of occurrence of CVD has resulted in creating a burden on healthcare providing organizations. Such a burden has resulted in increased public and private investment in this industry. Due to the increase in investments, the industry is coming up with new services, that has impacted the growth of the industry positively. Remote cardiac monitoring services have enabled the transcending of geographic barrier for patients as well as for care providers. Such an increase in acceptance of the service has also contributed to the growth of remote cardiac monitoring services market.
Top Companies Profiled in the Report Include:
Preventice Solutions, Honeywell Life Care Solutions, Cardionet, Koninklijke Philips, Medtronic, Boston Scientific Corporation, Biotronik SE Co. KG, Cardiac Science Corporation, Hill-Rom Holdings, Inc., LivaNova PLC, ReliantHeart Inc., St. Jude Medical, Inc, and Schiller AG.
Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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Additionally, the report consists a detailed analysis of the segmentation of the Remote Cardiac Monitoring Services market based on product types and end-use/application offered in the Remote Cardiac Monitoring Services market.
Product Type Outlook (Revenue, USD Billion; 2020 – 2028)
- Cardiac Event Recorder
- Loop memory Monitor
- Symptom event monitor
- Holter Monitor
- Insertable Cardiac Monitor (ICM)
- Mobile Cardiac Telemetry Devices
Technology Outlook (Revenue, USD Billion; 2020 – 2028)
- Digital Health Technology
- Mobile Cardiac Telemetry Monitoring (MCT/MCOT)
- Artificial Intelligence
- AutoDetect Monitors
- Manual Event Monitor
- Smart Wearable ECG Monitors
Event Monitoring Outlook (Revenue, USD Billion; 2020 – 2028)
- Pre-Symptom (Memory Loop)
- Post-Symptom Event Monitor
Application Outlook (Revenue, USD Billion; 2020 – 2028)
- Coronary Artery Disease
- Arrhythmia
- Hypertension
End Use Outlook (Revenue, USD Billion; 2020 – 2028)
- Diagnostic Centers
- Hospitals
- Ambulatory Surgical Centers
- Academic and Research Institutions
- RD Centers
Country-wise regional analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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