Global Cardiac Rhythm Remote Monitoring Devices Market to Surpass USD 7,985.6 Million by 2033, Driven by Rising Telehealth Adoption | FMI

The global cardiac rhythm remote monitoring devices market is experiencing a strong growth surge, projected to reach USD 7,985.6 million by 2033, up from USD 4,782.1 million in 2023. This expansion reflects a steady Compound Annual Growth Rate (CAGR) of 5.3% over the forecast period, according to industry experts.

In an era marked by rapid advancements in telehealth and telemedicine, cardiac rhythm remote monitoring devices are proving to be pivotal in transforming healthcare delivery. These devices allow clinicians to remotely track and assess patients’ heart activity, ensuring timely consultations, personalized treatment adjustments, and proactive cardiac care.

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The increasing emphasis on accessible and patient-centric healthcare is fueling the widespread adoption of remote monitoring technologies. These solutions eliminate geographical limitations, enhance convenience, and empower patients to actively manage their heart health from the comfort of their homes.

As the integration of technology in healthcare accelerates, the cardiac rhythm remote monitoring devices market is set to become a cornerstone of modern telehealth infrastructure. Industry stakeholders are now presented with a significant opportunity to invest in innovative remote care solutions that improve clinical outcomes and streamline patient management globally.

Key Takeaways

• Hospitals Lead Cardiac Monitoring Device Adoption

Hospitals are projected to dominate the cardiac monitoring & rhythm management devices market, holding a 45% market share in 2023. This is driven by increasing cardiovascular disease cases, rising patient visits for diagnosis, and technical support provided during in-person consultations.

• North America Maintains Market Dominance

With heart disease being the leading cause of death in the U.S., North America is expected to hold a 34.7% share of the cardiac rhythm remote monitoring devices market. The region benefits from strong healthcare infrastructure and the presence of major device manufacturers.

• Europe Sees Growth Through Technological Advancements

Innovations in precision and accuracy of monitoring devices are fueling adoption in Europe. Countries like the UK, Germany, and the Netherlands are key contributors, leading the region to capture a 22.7% market share in 2023.

• Asia Pacific Driven by Aging Population and Awareness

The rising geriatric population in India and China, along with increasing health awareness among younger generations, is boosting device adoption. The region is anticipated to account for a 25% market share in 2023, supported by growing accessibility and commercialization efforts.

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Recent Developments Observed by FMI:

• Medtronic announced the regulatory clearance and launch of the Micra AV Transcatheter Pacing System in Japan in January 2022. It is the first leadless peacemaker ever, the Micra TPS.
• In November 2021, India Medtronic Private Limited unveiled a cryoballoon catheter that has been approved by CDSCO for the treatment of atrial fibrillation (AF) in India.
• In February 2021, Siemens Healthineers introduced the Corindus CorPath GRX Robotic System in India for use in coronary and peripheral vascular treatments.
• To change cardiac diagnostics utilizing cloud computing and artificial intelligence (AI), Cardiology, a medical technology startup, inked a contract to be acquired by Philips Healthcare in November 2021. It is anticipated that the company’s product line of cardiac monitoring and diagnostics devices would expand as a result of this acquisition.

Key Players in the Global Market:

• Medtronic Plc.
• GE Healthcare
• Boston Scientific Corporation
• Philips Healthcare
• St. Jude Medical Inc.
• BIOTRONIK SE & Co. KG
• Nihon Koden
• OSYPKA
• Honeywell International
• Abbott Laboratories

Cardiac Rhythm Remote Monitoring Devices Industry Segmentation:

By Product Type:

• Implantable Cardioverter Defibrillator (ICD) Devices
• Implantable Defibrillator, External Defibrillator
• Manual External Defibrillator
• Automated External Defibrillator
• Cardiac Resynchronization Therapy (CRT) Devices
• Implantable Cardiac Monitors (ICMs)
• Implanted Hemodynamic Monitor

By Modality:

• Portable Devices
• Non-portable Devices

By End-user:

• Long-term Care Centers
• Specialized Clinics
• Hospitals

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

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