Ambulatory Cardiac Monitoring Market Size (2024 - 2029)

The ambulatory cardiac monitoring devices market is projected to experience significant growth over the forecast period, driven by an increasing prevalence of heart diseases and a growing aging population. The market's expansion is further supported by technological advancements in cardiac monitoring devices and a rise in outpatient visits post-pandemic. The demand for these devices surged during the COVID-19 pandemic due to the need for remote patient monitoring, which has continued to influence market growth. Despite potential challenges such as high costs and stringent regulatory requirements, the market is expected to benefit from new product launches and strategic initiatives by key players.

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Market Size of Ambulatory Cardiac Monitoring Industry

Ambulatory Cardiac Monitoring Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 6.91 Billion
Market Size (2029) USD 10.75 Billion
CAGR (2024 - 2029) 9.23 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Ambulatory Cardiac Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ambulatory Cardiac Monitoring Market Analysis

The Ambulatory Cardiac Monitoring Market size is estimated at USD 6.91 billion in 2024, and is expected to reach USD 10.75 billion by 2029, growing at a CAGR of 9.23% during the forecast period (2024-2029).

  • COVID-19 had a significant impact on the growth of the market during the pandemic period. The usage of cardiac implantable devices to monitor patient conditions remotely during the lockdown was one of the major driving factors. According to a National Center for Biotechnology Information (NCBI) article published in March 2022, the frequency of in-office was significantly lower during the pandemic. Nearly two-thirds of survey participants established new remote monitoring connections for cardiac implantable electronic devices before the pandemic, with 33.3% delivering remote monitoring connections to the patient's home address and the remaining 32.1% activating remote monitoring connections during an in-office visit. Thus, there was an increased demand for implantable cardiac devices during the pandemic, contributing to the market's growth.
  • However, the rise in the adoption rate for ambulatory cardiac monitoring during the pandemic and the increase in outpatient visits during the post-pandemic period is expected to contribute to the market's growth over the coming five years. The ambulatory cardiac monitoring market is driven by an increase in the prevalence of heart diseases, a growing aging population who are very susceptible to coronary heart diseases, and technological advancements in cardiac monitoring devices for improved efficacy.
  • According to data published by the British Heart Foundation (BHF) in August 2022, around 7.6 million people live with heart and circulatory diseases in the United Kingdom. Such increasing prevalence of cardiovascular diseases, which led to a growing need for monitoring the patient condition, is expected to drive the growth of the ambulatory cardiac monitoring market.
  • Similarly, as per an article published by the British Heart Foundation (BHF) in February 2021, around 371,000 heart procedures and operations were performed in England in 2020. In addition, an NCBI article published in October 2020 stated that approximately 40,000 children in the United States undergo congenital heart surgery each year. Such an increasing number of cardiovascular surgeries a to the extensive usage of ambulatory cardiac monitoring devices for constant monitoring of the patient's heart condition, thus driving the market growth.
  • Also, the advanced product launches and strategic initiatives by the key market players are expected to drive the market's growth during the forecast period. For instance, in June 2021, AliveCor acquired the independent diagnostic testing facility (IDTF) CardioLabs, one of the leading monitoring and cardiac diagnostic service provider. The acquisition is a cornerstone of AliveCor's mission to extend its comprehensive cardiological services to patients prescribed monitoring devices by their healthcare providers.
  • Thus, the factors such as an increase in the prevalence of heart diseases and increasing product launches are expected to drive the market growth during the forecast period. However, high costs associated with the monitoring and stringent regulatory procedures may act as restraints to the growth of the ambulatory cardiac monitoring market over the forecast period.

Ambulatory Cardiac Monitoring Industry Segmentation

As per the scope of the report, ambulatory cardiac monitoring is a way to watch and record the electrical activity of your heart. It is done for daily activities. Most of the recording devices are about the size of a cell phone. Each ambulatory cardiac monitoring device has features that make them better suited to handle different monitoring needs. The patient's needs will ultimately determine which device will be used to get an accurate diagnosis.

The ambulatory cardiac monitoring market is segmented by device type (EGC monitors, event recorders, implantable cardiac loop recorders, mobile cardiac telemetry, and others) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally.

The report offers the value (in USD million) for the above segments.

By Device Type
ECG Monitors
Event Recorders
Implantable Cardiac Loop Recorders
Mobile Cardiac Telemetry
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Ambulatory Cardiac Monitoring Market Size Summary

The ambulatory cardiac monitoring devices market is poised for substantial growth, driven by the increasing prevalence of cardiovascular diseases and the aging population susceptible to coronary heart conditions. The market's expansion is further fueled by technological advancements in cardiac monitoring devices, which enhance efficacy and enable remote patient monitoring. The COVID-19 pandemic significantly accelerated the adoption of these devices, as remote monitoring became essential during lockdowns, leading to a surge in demand for implantable cardiac devices. This trend is expected to continue, supported by the rise in outpatient visits and the growing need for continuous monitoring of heart conditions. The market is characterized by frequent product launches and strategic initiatives by key players, which are anticipated to bolster growth over the forecast period.

North America is expected to witness significant growth in the ambulatory cardiac monitoring market, attributed to the increasing prevalence of cardiovascular diseases, technological advancements, and favorable government initiatives. The region's growth is further reinforced by the rising demand for cardiac pacemakers among the geriatric population and the introduction of innovative monitoring solutions. The competitive landscape of the market is slightly fragmented, with numerous international and local companies holding market shares. Key players such as Medtronic, Abbott Laboratories, and Boston Scientific Corporation are actively contributing to the market's development through product innovations and strategic partnerships. Despite the promising growth prospects, challenges such as high costs and stringent regulatory procedures may pose constraints to the market's expansion.

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Ambulatory Cardiac Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Incidences of Cardiovascular Diseases

      2. 1.2.2 Advances in Ambulatory Cardiac Monitoring Devices

    3. 1.3 Market Restraints

      1. 1.3.1 Risk of Infection Due to Implantable Monitoring Devices

      2. 1.3.2 Price Sensitive Market

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Device Type

      1. 2.1.1 ECG Monitors

      2. 2.1.2 Event Recorders

      3. 2.1.3 Implantable Cardiac Loop Recorders

      4. 2.1.4 Mobile Cardiac Telemetry

      5. 2.1.5 Others

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 Australia

        5. 2.2.3.5 South Korea

        6. 2.2.3.6 Rest of Asia-Pacific

      4. 2.2.4 Middle East and Africa

        1. 2.2.4.1 GCC

        2. 2.2.4.2 South Africa

        3. 2.2.4.3 Rest of Middle East and Africa

      5. 2.2.5 South America

        1. 2.2.5.1 Brazil

        2. 2.2.5.2 Argentina

        3. 2.2.5.3 Rest of South America

Ambulatory Cardiac Monitoring Market Size FAQs

The Ambulatory Cardiac Monitoring Market size is expected to reach USD 6.91 billion in 2024 and grow at a CAGR of 9.23% to reach USD 10.75 billion by 2029.

In 2024, the Ambulatory Cardiac Monitoring Market size is expected to reach USD 6.91 billion.

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Ambulatory Cardiac Monitoring Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)