The increasing incidence of cardiovascular diseases and other lifestyle diseases along with other technological advances are the factors that are expected to boost the growth of the market. Favorable government regulations along with remote monitoring devices are the factors that will foster the growth of the market.
The factors such as market saturation along with irregular reimbursement policies are the factors that may restrain the growth of the market. Untapped emerging markets and M&A as prominent strategies adopted by market players are the factors that would create immense growth opportunities in the market. Furthermore, growth in outpatient/mobile cardiac telemetry (MCT) and ECG data management system (EMS) is expected to boost the growth of the market.
The cardiac monitoring & cardiac rhythm management (CRM) market is segmented on the basis of product type, end-user and geography. Based on product, the market is further segmented into ECG and Defibrillators. The ECG market is further segmented into resting ECG, stress ECG, holter monitors, ECG Market, by volume and ECG market, by lead type. The Defibrillators is further segmented into implantable cardioverter defibrillator (ICD), external defibrillators, pacemakers and cardiac resynchronization therapy devices. the external defibrillators is further segmented into automated external defibrillators (AED), manual external defibrillators (MED), while pacemakers is further segmented on the basis of implantability, by number of chambers, by technology and cardiac resynchronization therapy devices. On the basis of end-users the market is segmented into hospitals, home/ambulatory and others. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key market players are Biotronik Se & Co.Kg, Boston Scientific Corporation, Cardiac Science Corporation, GE Healthcare (Subsidiary of General Electric Company), Medtronic Inc., Mortara Instrument Inc., Philips Healthcare, Schiller AG., Sorin S.P.A and St. Jude Medical Inc.
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