Increasing prevalence of cardiovascular diseases such premature contraction, atrial fibrillation, conduction disorders, tachycardia globally will fuel the growth of global cardiac arrhythmia monitoring devices market during the forecast period. According to American College of Cardiology, the number of prevalent cases of CVD worldwide accounted for 422.7 million in 2015, out of which 46.1 million people suffered from atrial fibrillation. Increasing awareness regarding prevention and treatment of cardiac diseases will augment the demand for these devices thereby propelling the industry growth in the forthcoming years.
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Furthermore, growing adoption of teleradiology will serve to be another impact rendering factor. Teleradiology enables continuous monitoring of patients suffering from cardiac arrhythmia through remote patient monitoring. Demand for such devices has increased over last few years owing to its convenience, efficiency and portability. Aforementioned factors will project a significant growth in the cardiac arrhythmia monitoring devices market throughout the analysis period.
However, lack of skilled professionals to operate, monitor and interpret activities of cardiac arrhythmia monitoring devices and unintended negative consequences of advanced ECG monitors in general care settings will impede the market growth to some extent. Moreover, these negative impacts could further limit the adoption of these devices and hamper the industry growth during the forecast period.
Mobile cardiac telemetry devices segment is expected to grow at a robust rate over the forecast period. These devices monitor patient’s cardiac activity and offer beat to beat analysis that captures and aggregates each heartbeat over a 24-hour period. The growth of cardiac telemetry systems is attributed to the benefits offered by these devices such as ease-of-use, wireless transmission of symptomatic and asymptomatic arrhythmia and retrievable ECG data.
Atrial fibrillation segment accounted for a significant revenue share in 2017 and is projected to grow at a considerable rate by 2024. According to the Centers for Disease Control and Prevention (CDC), more than 6.1 million people in the U.S. suffer from atrial fibrillation. Rising incidences of atrial fibrillation leading to patient disability and mortality coupled with growing geriatric population base prone to cardiac diseases will serve to be key factors stimulating the growth of atrial fibrillation segment in the foreseeable future.
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