Market Trends of Europe Cardiac Monitoring Industry
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.
