Market Trends of North America Cardiac Monitoring Industry
This section covers the major market trends shaping the North America Cardiac Monitoring Market according to our research experts:
The Pacemaker Segment is Poised to Hold a Significant Share in the North American Cardiac Monitoring Market Over the Forecast Period
Pacemakers are medical devices that deliver electrical pulses to the heart to maintain a regular heart rate. Pacemakers are used to treat patients suffering from heart conditions, such as heart failure and arrhythmias. Owing to the increasing prevalence of the geriatric population, cardiovascular diseases, and technological advancements, the pacemaker segment is expected to grow.
According to the UN Population Dashboard 2022, the population aged 65 and older as a % of the total population is 17% in the United States in 2022. This surge in the geriatric population is expected to increase the burden of cardiac diseases in North America which is likely to augment the growth of the studied market over the forecast period.
Furthermore, according to the data updated by CDC in October 2022, it is estimated that about 805,000 people in the United States have a heart attack every year, of which 605,000 are estimated to be a first heart attack, and 200,000 heart attacks happen to people who have already had a heart attack. Hence, the segment is projected to show growth over the forecast period.
The advancements in technology, increasing product approvals, partnerships, and collaborations by key players are helping the segment's growth. For instance, in April 2022 Abbott received the United States Food and Drug Administration (FDA) approval of the Aveir single-chamber (VR), the world's one of the first leadless pacemakers for treating patients in the United States with slow heart rhythms.
Thus, owing to the abovementioned factors such the rising geriatric population, rising prevalence of heart disorders, and advancements in technology, increasing product approvals, partnerships, and collaborations by key players, growth in the pacemaker segment of the studied market is expected.
United States is Expected to Hold a Significant Share in the North America Cardiac Monitoring Market Over the Forecast Period
The United States is expected to hold a significant share of the market owing to factors such as the rising incidence of cardiovascular diseases, growing geriatric population, the strong presence of industry players in the country, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States.
The technological advancements, product launches, clinical trials, partnerships, and acquisitions by key market players are likely to augment the market growth in the United States. For instance, in December 2021, Boston Scientific initiated a MODULAR ATP trial to assess the mCRM Modular Therapy System, the first modular cardiac rhythm management (CRM) system. The mCRM System consists of two CRM devices: the EMBLEM MRI Subcutaneous Implantable Defibrillator System and the EMPOWER Modular Pacing System. This trial aims to expand treatment options for patients who need an implantable cardioverter defibrillator. These launches are likely to boost the cardiac monitoring market growth.
In addition, in February 2022, Boston Scientific Corporation acquired Baylis Medical Company Inc., a company that provides cutting-edge transseptal access solutions as well as guidewires, sheaths, and dilators used to support catheter-based left-heart surgeries. The acquisition is expected to expand the company's electrophysiology and structural heart portfolio and ultimately boost the market growth in the country.
Therefore, owing to the above-mentioned factors such as the rising incidence of cardiovascular diseases, growing geriatric population, and the strong presence of industry players in the country, the growth of the studied market is anticipated in the United States over the forecast period.
