Remote Cardiac Monitoring Market Analysis

Remote Cardiac Monitoring Market Analysis

The remote cardiac monitoring market by product type is segmented into devices, software, and services. The devices segment is further subdivided into holter monitor, event monitor, mobile cardiac telemetry (MCT) device, implantable loop recorder (ILR), and others. The devices segment dominated the product type and is predicted to witness highest CAGR of 11.6% during the forecast period. Continuous technological advancements and integration of artificial intelligence (AI) into remote cardiac monitoring devices to enhance accuracy, ease of use, and interpretation will foster segment outlook. In addition, increasing prevalence of cardiovascular diseases such as coronary heart diseases, cardiac arrhythmias monitoring, heart stroke, and heart diseases will stimulate segment demand. Additionally, technological innovations and increasing awareness among patients about remote cardiac monitoring devices will accelerate market trends.
 

The remote cardiac monitoring market by end-use is categorized into home-care settings, long-term care, and others. Home-care settings segment held largest revenue size accounting for over USD 2 billion in 2022 and is forecasted to dominate the regional market throughout the analysis period. The high segment growth is attributable to the increasing preference for remote parameter monitors among elderly population base will escalate the segmental growth. Moreover, people suffering from blood pressure are often susceptible to suffering from serious cardiovascular diseases. Furthermore, as remote cardiac monitoring devices offer convenience to geriatric population base and avoid hospital visits will thus lead to rise in demand for advanced remote cardiac monitors in coming years.
 

U.S. remote cardiac monitoring market accounted for USD 1.3 billion in 2022 and is anticipated to witness substantial market growth over the projected period. This is attributed to significant healthcare expenditure, supportive government initiatives, rising disease awareness, etc. Additionally, growing adoption rate coupled with high awareness regarding benefits of early disease diagnosis is projected to escalate the demand for enhanced remote cardiac monitoring devices. Moreover, growing demand for advanced treatment and increasing investment in developing technologically superior products will favour market progress.