PUBLISHER: Grand View Research | PRODUCT CODE: 1631498
PUBLISHER: Grand View Research | PRODUCT CODE: 1631498
The global cardiac monitoring and cardiac rhythm management devices market size is expected to reach USD 33.29 billion by 2030, registering a CAGR of 7.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of cardiovascular diseases and advancement in medical devices is driving the market.
Cardiovascular disorders, such as ischemic heart disease, are one of the leading causes of death globally. According to the CDC, the prevalence of cardiovascular diseases and the number of deaths has remained steady with almost 31.0% of the population dying due to such diseases in 2017. Moreover, the incidence of obesity has increased over the past few years; an estimated 37.7% of adults in the U.S. are obese. In addition, in 2016, about 18.0% of the U.S. adults had high-density lipoprotein cholesterol levels of less than 40 mg/dL. Industry players are trying to develop advanced medical devices for cardiovascular disorders, which is propelling the market.
The hospital segment held the largest market share in terms of revenue in 2019. Hospitals are able to provide optimal care of the patients suffering from cardiovascular disorders by efficiently monitoring and diagnosing the problem at an early stage. This, in turn, is anticipated to augment the growth of the segment in the market.
The home care segment is expected to witness significant growth over the forecast period owing to ease of treatment and cost-effectiveness provided by the system. Miniaturization of medical devices required to monitor cardiovascular events at remote places is anticipated to drive the driving segment in the coming years.
North America held the largest revenue share in 2019 owing to the increasing geriatric population in the region. In addition, rapid technological advancements in medical devices such as miniaturization, long battery life, the use of biocompatible materials are also stimulating the growth of the market in the region. Moreover, rising cases of cardiovascular disorders including heart failure and cardiovascular arrests are expected to propel market growth in the region.
In Asia Pacific, the market is anticipated to witness significant growth over the forecast period. This is attributed to the rising demand for quality healthcare services in the region. The growing number of an aging population in countries including India, Japan, and China is driving demand for advanced medical devices in the region.