Europe Cardiac Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 6.31 Billion |
| Market Size (2029) | USD 7.99 Billion |
| CAGR (2024 - 2029) | 4.82 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Cardiac Monitoring Market Analysis
The Europe Cardiac Monitoring Market size is estimated at USD 6.31 billion in 2024, and is expected to reach USD 7.99 billion by 2029, growing at a CAGR of 4.82% during the forecast period (2024-2029).
The COVID-19 pandemic impacted the cardiac monitoring market significantly. There were fewer echocardiograms and other heart scans carried out during the pandemic, which means fewer people getting a diagnosis. The pandemic has also led to the delay of elective procedures due to COVID-19-related measures. For instance, British Heart Foundation (BHF) data updated in February 2021 found that there was a decrease in heart operations by 22% in England. Around 371,000 heart operations and procedures were performed in 2020, as compared to 2019 wherein more than 473,000 were carried out. Also, for non-urgent procedures, lifestyle changes, and medication were temporarily prescribed instead of cardiovascular procedures. Moreover, as per the study published in August 2021, by the National Library of Medicine, during the first wave of the COVID-19 pandemic, a marked decrease in hospital visits and admissions due to acute coronary syndromes, stroke, and heart failure decompensation was noted in Greece. Hence, this has resulted in a huge number of patients on the waiting list for cardiac surgery. For instance, as per December 2021 published article by the BHF, more than 275,000 people were waiting for heart tests and treatment, including heart surgery, at the end of September 2021 in England. This was 42,500 more people than in February 2020, before the pandemic. The number of people waiting over a year was 128 times higher than before the pandemic. Thus, to clear the backlogs of heart surgery in the region the market saw a surge. In addition, the market growth is stabilizing in the current scenario after COVID-19 as the disease screening services and surgeries have been resumed.
The key factors propelling the market growth are the growing incidences of cardiovascular diseases, advancements in technology, and the demand for home-based, point-of-care, and remote monitoring cardiac systems.
The increasing prevalence of cardiovascular disorders is one of the major factors driving the cardiac monitoring market. For instance, as per the BHF 2022 report, vascular dementia affected at least 150,000 people in the United Kingdom in 2022, and the number is predicted to rise to 350,000 by 2030. Hence, the high prevalence of cardiac diseases in European countries is anticipated to be the driving factor for the cardiac monitoring market.
Moreover, technological advancements in the field of cardiac monitoring are expected to boost the growth of the market over the forecast period. For instance, in September 2022, Huawei Consumer Business Group (CBG) announced that its latest smartwatch device, the HUAWEI WATCH GT 3 Pro and HUAWEI WATCH D, received CE certification for its HUAWEI ECG App. Similarly, in June 2021, MicroPort CRM announced the European launch of Alizea and Borea pacemakers after receiving the CE mark under the new Medical Device Regulation (MDR - 2017/745). The devices are equipped with Bluetooth1 technology for streamlined remote monitoring when paired with the SmartView Connect home monitor. Such advances are expected to boost the growth of the market over the forecast period.
Hence, with the increasing cases of cardiovascular diseases in the region, the market is anticipated to grow at a significant rate over the forecast period. However, the risk of infection due to implantable monitoring devices and unfavorable reimbursement policies are likely to restrain the market growth.
Europe Cardiac Monitoring Market Trends
This section covers the major market trends shaping the Europe Cardiac Monitoring Market according to our research experts:
ECG Monitor Segment is Expected to Dominate the Cardiac Monitoring Market During the Forecast Period
Electrocardiography is the process of producing an electrocardiogram, a recording of the heart's electrical activity. There has been an increase in the incidence of Cardiovascular Diseases (CVD), wherein long-term ECG monitoring is necessary. Moreover, with the introduction of wireless ECG, doctors can monitor and diagnose patients remotely on time, which further fuels the market. As a diagnostic tool, ECG has been around for a long time, and penetration of these systems in hospitals is very high. Despite its established nature, the market continues to evolve with new devices, including ECG monitoring systems at healthcare facilities; event monitors for subacute patient monitoring, which patients carry with them to record the heart rhythm for short periods; implantable loop recorders that are surgically inserted into patients and can record heart rhythms for an extended period; and telemetry and ECG data management solutions.
Furthermore, the presence of advanced healthcare infrastructure and a continuous rise in the prevalence of cardiovascular cases in the European country is expected to boost the market. For instance, as per BHF 2022 report, in England, around 6.4 million people were living with heart and circulatory diseases in 2021. Thus, this increases the demand for cardiac monitoring devices, thereby driving the market's growth. Additionally, the presence of competitors, government initiatives, and cardiology awareness programs in the field of the external defibrillator segment is likely to boost the market growth. For instance, in July 2021, the European Commission's EU4Health program, Next Generation Recovery Funds, and Horizon Europe Research Funds provide an opportunity to further tackle the burden of CVDs and improve the cardiovascular health of citizens by implementing actions proposed in an EU Action Plan for Better Cardiovascular Health.
Considering the above-mentioned factors, the ECG Monitor segment is likely to witness growth during the forecast period.
United Kingdom is Likely to Witness a Growth in the Market During the Forecast Period
The United Kingdom is expected to have a significant market share in the cardiac monitoring market due to the developed healthcare infrastructure, government initiatives, and the rising burden of cardiovascular diseases. For instance, as per the BHF 2022 report, around 7.6 million people are living with heart and circulatory diseases in the United Kingdom. Also, around twice as many people live with heart and circulatory diseases in the United Kingdom than with cancer and Alzheimer's disease combined. Considering the high prevalence of cardiac diseases, the demand for cardiac monitoring devices is expected to increase in the country, which is anticipated to boost the market growth.
Moreover, in August 2022, NHS England launched a new initiative, "@Home initiative," to support heart failure patients with the tools and expertise they need to remotely monitor their condition at home. The Managing Heart Failure Home initiative minimizes face-to-face appointments for these patients and reduces unavoidable hospital stays and readmissions. Such initiatives are expected to boost the market's growth in the country over the forecast period.
Europe Cardiac Monitoring Industry Overview
The Europe Cardiac Monitoring Market is fragmented and focused because of many large, medium, and small players. The multinational players possess a substantial share of the worldwide market. Companies like Abbott Laboratories, Medtronic, Boston Scientific Corporation, GE Healthcare, and Koninklijke Philips N.V., among others, hold a substantial market share.
Europe Cardiac Monitoring Market Leaders
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Abbott Laboratories
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Medtronic
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Boston Scientific Corporation
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GE Healthcare
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Koninklijke Philips N.V.
*Disclaimer: Major Players sorted in no particular order
Europe Cardiac Monitoring Market News
- November 2022: Boston Scientific announced the European launch of the LUX-Dx insertable cardiac monitor (ICM) system, a long-term diagnostic device inserted under the skin of patients to detect arrhythmias associated with conditions such as Atrial Fibrillation (AF), cryptogenic stroke, and syncope.
- November 2022: Heart experts at University Hospital Southampton (UHS) implanted a new leadless pacemaker defibrillator system to treat patients at risk of sudden cardiac arrest. The surgery is a component of a global clinical trial involving the implantation of the innovative leadless pacemaker EMPOWER and the Subcutaneously Implanted Cardioverter-Defibrillator (S-ICD).
Europe Cardiac Monitoring Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Incidences of Cardiovascular Diseases
- 4.2.2 Technological Advancements in the Cardiac Monitoring Products
- 4.2.3 Demand for Home-based, Point of Care, and Remote Monitoring Cardiac Systems
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4.3 Market Restraints
- 4.3.1 Risk of Infection due to Implantable Monitoring Devices
- 4.3.2 Unfavorable Reimbursement Policies
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Device Type
- 5.1.1 ECG Monitor
- 5.1.2 Event Recorder
- 5.1.3 Implantable Loop Recorder
- 5.1.4 Pacemaker
- 5.1.5 Defibrillator
- 5.1.6 Cardiac Resynchronization Therapy (CRT) Devices
- 5.1.7 Smart Wearable Devices
- 5.1.8 Other Device Types
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5.2 By End User
- 5.2.1 Hospitals and Clinics
- 5.2.2 Home Care Settings
- 5.2.3 Others
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5.3 Geography
- 5.3.1 Germany
- 5.3.2 United Kingdom
- 5.3.3 France
- 5.3.4 Italy
- 5.3.5 Spain
- 5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 Medtronic Plc
- 6.1.3 Boston Scientific Corporation
- 6.1.4 GE Healthcare
- 6.1.5 Koninklijke Philips N.V.
- 6.1.6 Biotronik SE & Co KG
- 6.1.7 Hill-Rom Holdings
- 6.1.8 Schiller AG
- 6.1.9 Biotelemetry
- 6.1.10 Shenzhen Mindray Biomedical Electronics Co. Ltd
- 6.1.11 Zoll Medical Corporation
- 6.1.12 LivaNova Plc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Cardiac Monitoring Industry Segmentation
As per the scope of the report, cardiac monitoring devices are used to monitor and diagnose various abnormalities or disorders of the heart and the overall cardiovascular system. Continuous cardiac monitoring is an important tool in the clinical assessment of patients with a variety of conditions. It allows the detection of changes in heart rate and rhythm and is essential in the detection of life-threatening arrhythmias. This is achieved using a cardiac monitor connected to a cable lead and skin electrodes, which captures the electrical activity predominantly through a single view. There are various types of cardiac monitors available in the market.
The Europe Cardiac Monitoring Market is segmented by Device Type (ECG Monitor, Event Recorder, Implantable Loop Recorder, Pacemaker, Defibrillator, Cardiac Resynchronization Therapy (CRT) Devices, Smart Wearable Devices, and Other Device Types), End User (Hospitals and Clinics, Home Care Settings and Others) and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The report offers the value (USD million) for the above segments.
| By Device Type | ECG Monitor |
| Event Recorder | |
| Implantable Loop Recorder | |
| Pacemaker | |
| Defibrillator | |
| Cardiac Resynchronization Therapy (CRT) Devices | |
| Smart Wearable Devices | |
| Other Device Types | |
| By End User | Hospitals and Clinics |
| Home Care Settings | |
| Others | |
| Geography | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe |
Europe Cardiac Monitoring Market Research FAQs
How big is the Europe Cardiac Monitoring Market?
The Europe Cardiac Monitoring Market size is expected to reach USD 6.31 billion in 2024 and grow at a CAGR of 4.82% to reach USD 7.99 billion by 2029.
What is the current Europe Cardiac Monitoring Market size?
In 2024, the Europe Cardiac Monitoring Market size is expected to reach USD 6.31 billion.
Who are the key players in Europe Cardiac Monitoring Market?
Abbott Laboratories, Medtronic, Boston Scientific Corporation, GE Healthcare and Koninklijke Philips N.V. are the major companies operating in the Europe Cardiac Monitoring Market.
What years does this Europe Cardiac Monitoring Market cover, and what was the market size in 2023?
In 2023, the Europe Cardiac Monitoring Market size was estimated at USD 6.02 billion. The report covers the Europe Cardiac Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Cardiac Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Cardiac Monitoring Industry Report
Statistics for the 2024 Europe Cardiac Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Cardiac Monitoring analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
