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Wireless Cardiac Monitoring Systems Market Size, Share & Trends Analysis Report, By Type (Implantable Cardiac Monitors, Patch-Type Monitor, Mobile Cardiac Telemetry System), By End-User, By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 100 Pages
  • September 2023
  • Region: Global
  • Grand View Research
  • ID: 5893210
Description Jump to:
The global wireless cardiac monitoring systems market is expected to reach USD 7.12 billion by 2030. The market is expected to expand at a compound annual growth rate (CAGR) of 11.4% from 2023 to 2030. The growth of the market is attributed to the growing cases of cardiovascular diseases (CVD) such as ischemic stroke, and heart failure, advancements in remote patient monitoring techniques, and increasing strategic collaborations amongst players. Moreover, the growing geriatric population globally propels the demand for wireless cardiac monitoring systems. According to OECD’s report in 2021, the life expectancy in lower-and-middle income Asian countries has increased by six years from 2000, while upper-middle-income countries have recorded a growth of four years in life expectancy. In addition, NCBI estimated that more than half of CVD cases are recorded in the Asia-Pacific region.

The pandemic positively impacted the wireless cardiac monitoring systems industry. Various hospitals started to utilize mobile-based electrocardiogram (ECG) devices to identify cardiac complications and ECG alterations. According to an article by the European Society of Cardiology, patch-based cardiac telemetry offered equivalent benefits for patients in inpatient and outpatient facilities. In addition, NCBI had stated a high prevalence of arrhythmia in those affected by the Sars-Cov-2 virus.

In addition, the market is aided by various strategic initiatives, such as collaboration. For instance, in June 2023, AliveCor, Inc. announced a collaboration with Lusii, a European remote patient monitoring provider. Both companies are expected to launch virtual heart clinic box, enabling cardiac care for a range of patients.

Wireless Cardiac Monitoring Systems Market Report Highlights

  • The global market in the healthcare market size was estimated at USD 2.98 billion in 2022 and is expected to reach USD 7.12 billion in 2030.
  • The market is expected to grow at a compound annual growth rate of 11.4% from 2023 to 2030.
  • In 2022, North America dominated the market in terms of the revenue share of 48.53%. This growth can be attributed to the presence of significant players, advanced reimbursement scenario, and growing number of critically ill patients.
  • The mobile cardiac telemetry segment dominated the revenue share in 2022 and accounted for 35.78% in 2022 of the market.
  • Hospitals dominated the market with a revenue share of 45.81% in 2022 due to the availability of advanced infrastructure and industrial partnership with leading healthcare companies. In addition, these facilities provide both monitoring and diagnostic capabilities, that aid the market growth.


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.3.5. Details of Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.5.1. Commodity Flow Analysis
1.5.1.1. Approach 1: Commodity flow approach
1.6. Data Validation & Publishing
1.7. Global Market: CAGR Calculation
1.8. List of Secondary Sources
1.9. List of Primary Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Wireless Cardiac Monitoring Systems Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.1.1. Rising geriatric population and increasing incidence of cardiovascular diseases
3.3.1.2. Technological advancements in remote monitoring techniques
3.3.1.3. Growing product approvals & provider facilities
3.3.2. Market restraint analysis
3.3.2.1. Inaccuracies with precision monitoring
3.3.2.2. High dependence of selected geographic locations
3.4. Business Environment Analysis
3.4.1. SWOT Analysis; By Factor (Political & Legal, Economic and Technological)
3.4.2. Porter’s Five Forces Analysis
3.4.3. COVID-19 Impact Analysis
Chapter 4. Wireless Cardiac Monitoring Systems Market: Type Business Analysis
4.1. Wireless Cardiac Monitoring Systems Market: Type Movement & Market Share Analysis, 2022 & 2030
4.2. Implantable Cardiac Monitors (ICM)
4.2.1. Global Implantable Cardiac Monitors (ICM) Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.3. Patch-Type Monitor
4.3.1. Global Patch-Type Monitor Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.4. Mobile Cardiac Telemetry Systems
4.4.1. Global Mobile Cardiac Telemetry System Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.5. Others
4.5.1. Global Others Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Wireless Cardiac Monitoring Systems Market: End-Use Business Analysis
5.1. Wireless Cardiac Monitoring Systems Market: End-Use Movement & Market Share Analysis, 2022 & 2030
5.2. Hospitals & Clinics
5.2.1. Global Hospitals & Clinics Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.3. Diagnostic Centers
5.3.1. Global Diagnostic Centers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.4. Others
5.4.1. Global Others Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Wireless Cardiac Monitoring Systems Market: Regional Business Analysis
6.1. Regional Market Snapshot
6.2. Market Share Analysis by Country, 2022
6.2.1. North America
6.2.2. Europe
6.2.3. Asia Pacific
6.2.4. Latin America
6.2.5. MEA
6.3. North America
6.3.1. North America Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.3.2. U.S.
6.3.2.1. U.S. Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.3.2.2. Key Country Dynamics
6.3.2.3. Competitive Scenario
6.3.2.4. Regulatory Framework
6.3.3. Canada
6.3.3.1. Canada Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.3.3.2. Key Country Dynamics
6.3.3.3. Competitive Scenario
6.3.3.4. Regulatory Framework
6.4. Europe
6.4.1. Europe Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.2. Germany
6.4.2.1. Germany Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.2.2. Key Country Dynamics
6.4.2.3. Competitive Scenario
6.4.2.4. Regulatory Framework
6.4.3. UK
6.4.3.1. UK Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.3.2. Key Country Dynamics
6.4.3.3. Competitive Scenario
6.4.3.4. Regulatory Framework
6.4.4. France
6.4.4.1. France Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.4.2. Key Country Dynamics
6.4.4.3. Competitive Scenario
6.4.4.4. Regulatory Framework
6.4.5. Italy
6.4.5.1. Italy Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.5.2. Key Country Dynamics
6.4.5.3. Competitive Scenario
6.4.5.4. Regulatory Framework
6.4.6. Spain
6.4.6.1. Spain Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.6.2. Key Country Dynamics
6.4.6.3. Competitive Scenario
6.4.6.4. Regulatory Framework
6.4.7. Denmark
6.4.7.1. Denmark Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.7.2. Key Country Dynamics
6.4.7.3. Competitive Scenario
6.4.7.4. Regulatory Framework
6.4.8. Sweden
6.4.8.1. Sweden Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.8.2. Key Country Dynamics
6.4.8.3. Competitive Scenario
6.4.8.4. Regulatory Framework
6.4.8.5.
6.4.9. Norway
6.4.9.1. Norway Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.4.9.2. Key Country Dynamics
6.4.9.3. Competitive Scenario
6.4.9.4. Regulatory Framework
6.5. Asia Pacific
6.5.1. Asia Pacific Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.2. Japan
6.5.2.1. Japan Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.2.2. Key Country Dynamics
6.5.2.3. Competitive Scenario
6.5.2.4. Regulatory Framework
6.5.3. China
6.5.3.1. China Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.3.2. Key Country Dynamics
6.5.3.3. Competitive Scenario
6.5.3.4. Regulatory Framework
6.5.4. India
6.5.4.1. India Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.4.2. Key Country Dynamics
6.5.4.3. Competitive Scenario
6.5.4.4. Regulatory Framework
6.5.5. South Korea
6.5.5.1. South Korea Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.5.2. Key Country Dynamics
6.5.5.3. Competitive Scenario
6.5.5.4. Regulatory Framework
6.5.6. Australia
6.5.6.1. Australia Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.6.2. Key Country Dynamics
6.5.6.3. Competitive Scenario
6.5.6.4. Regulatory Framework
6.5.7. Thailand
6.5.7.1. Thailand Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.5.7.2. Key Country Dynamics
6.5.7.3. Competitive Scenario
6.5.7.4. Regulatory Framework
6.6. Latin America
6.6.1. Latin America Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.6.2. Brazil
6.6.2.1. Brazil Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.6.2.2. Key Country Dynamics
6.6.2.3. Competitive Scenario
6.6.2.4. Regulatory Framework
6.6.3. Mexico
6.6.3.1. Mexico Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.6.3.2. Key Country Dynamics
6.6.3.3. Competitive Scenario
6.6.3.4. Regulatory Framework
6.6.4. Argentina
6.6.4.1. Argentina Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.6.4.2. Key Country Dynamics
6.6.4.3. Competitive Scenario
6.6.4.4. Regulatory Framework
6.7. MEA
6.7.1. MEA Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.7.2. South Africa
6.7.2.1. South Africa Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.7.2.2. Key Country Dynamics
6.7.2.3. Competitive Scenario
6.7.2.4. Regulatory Framework
6.7.3. Saudi Arabia
6.7.3.1. Saudi Arabia Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.7.3.2. Key Country Dynamics
6.7.3.3. Competitive Scenario
6.7.3.4. Regulatory Framework
6.7.3.5.
6.7.4. UAE
6.7.4.1. UAE Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.7.4.2. Key Country Dynamics
6.7.4.3. Competitive Scenario
6.7.4.4. Regulatory Framework
6.7.5. Kuwait
6.7.5.1. Kuwait Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
6.7.5.2. Key Country Dynamics
6.7.5.3. Competitive Scenario
6.7.5.4. Regulatory Framework
Chapter 7. Competitive Landscape
7.1. Company Categorization
7.2. Strategy Mapping
7.3. Company Profiles/Listing
7.3.1. Koninklijke Philips N.V.
7.3.1.1. Overview
7.3.1.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.1.3. Product Benchmarking
7.3.1.4. Strategic Initiatives
7.3.2. Abbott
7.3.2.1. Overview
7.3.2.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.2.3. Product Benchmarking
7.3.2.4. Strategic Initiatives
7.3.3. Medtronic
7.3.3.1. Overview
7.3.3.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.3.3. Product Benchmarking
7.3.3.4. Strategic Initiatives
7.3.4. Biotronik SE & Co. KG
7.3.4.1. Overview
7.3.4.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.4.3. Product Benchmarking
7.3.4.4. Strategic Initiatives
7.3.5. Boston Scientific Corporation
7.3.5.1. Overview
7.3.5.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.5.3. Product Benchmarking
7.3.5.4. Strategic Initiatives
7.3.6. Asahi Kasei Corporation.
7.3.6.1. Overview
7.3.6.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.6.3. Product Benchmarking
7.3.6.4. Strategic Initiatives
7.3.7. iRhythm Technologies, Inc.
7.3.7.1. Overview
7.3.7.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.7.3. Product Benchmarking
7.3.7.4. Strategic Initiatives
7.3.8. Avertix Medical, Inc.
7.3.8.1. Overview
7.3.8.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.8.3. Product Benchmarking
7.3.8.4. Strategic Initiatives
7.3.9. OSI Systems, Inc. (Spacelabs Healthcare)
7.3.9.1. Overview
7.3.9.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.9.3. Product Benchmarking
7.3.9.4. Strategic Initiatives
7.3.10. Baxter International Inc.
7.3.10.1. Overview
7.3.10.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
7.3.10.3. Product Benchmarking
7.3.10.4. Strategic Initiatives
List of Tables
1. List of Abbreviations
2. List of Secondary Sources
List of Figures
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain-based sizing & forecasting
Fig. 6 Market formulation & validation
Fig. 7 Wireless Cardiac Monitoring Systems market segmentation
Fig. 8 Market snapshot, 2022
Fig. 9 Market trends & outlook
Fig. 10 Market driver relevance analysis (current & future impact)
Fig. 11 Market restraint relevance analysis (current & future impact)
Fig. 12 Swot analysis, by factor (political & legal, economic and technological)
Fig. 13 Porter’s five forces analysis
Fig. 14 Global Wireless Cardiac Monitoring Systems Market: Type Outlook Key Takeaways
Fig. 15 Global Wireless Cardiac Monitoring Systems Market: Type Movement Analysis
Fig. 16 Global Implantable Cardiac Monitors (ICM) Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 17 Global Patch-Type Monitor Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 18 Global Mobile Cardiac Telemetry System Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 19 Global Others Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 20 Global Wireless Cardiac Monitoring Systems Market: End-use Outlook Key Takeaways
Fig. 21 Global Wireless Cardiac Monitoring Systems Market: End-use Movement Analysis
Fig. 22 Global Hospitals & Clinics Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 23 Global Diagnostic Centers Market Estimates and Forecast, 2018 - 2030 (USD Billion)
Fig. 24 Global Others Market Estimates and Forecast Market, 2018 - 2030 (USD Billion)
Fig. 25 Regional Marketplace: Key Takeaways
Fig. 26 Regional outlook, 2022 & 2030
Fig. 27 Global Wireless Cardiac Monitoring Systems Market: Region Movement Analysis
Fig. 28 North America Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 29 U.S. Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 30 Canada Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 31 Europe Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 32 Germany Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 33 UK Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 34 France Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 35 Italy Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 36 Spain Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 37 Denmark Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 38 Sweden Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 39 Norway Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 40 Asia pacific Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 41 Japan Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 42 China Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 43 India Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 44 Australia Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 45 South Korea Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 46 Thailand Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 47 Latin America Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 48 Brazil Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 49 Mexico Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 50 Argentina Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 51 Middle East and Africa Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 52 South Africa Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 53 Saudi Arabia Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 54 Kuwait Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)
Fig. 55 UAE Wireless Cardiac Monitoring Systems Market, 2018 - 2030 (USD Billion)

Companies Mentioned

  • Koninklijke Philips N.V.
  • Abbott
  • Medtronic
  • Biotronik SE & Co. KG
  • Boston Scientific Corporation
  • Asahi Kasei Corporation.
  • iRhythm Technologies, Inc.
  • Avertix Medical, Inc.
  • OSI Systems, Inc. (Spacelabs Healthcare)
  • Baxter International Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedSeptember 2023
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 2.98 Billion
Forecasted Market Value ( USD ) by 2030 $ 7.12 Billion
Compound Annual Growth Rate11.4%
Regions CoveredGlobal
No. of Companies Mentioned10

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About the Wireless Cardiac Monitoring Systems Market

Wireless Cardiac Monitoring Systems are a type of Cardiovascular Device used to monitor the heart rate and rhythm of a patient. These systems are typically composed of a small, wearable device that transmits data to a receiver, which is then sent to a healthcare provider for analysis. The device can be used to detect arrhythmias, detect changes in heart rate, and monitor the patient's response to treatment. Wireless Cardiac Monitoring Systems are becoming increasingly popular due to their convenience and accuracy. They are often used in the diagnosis and treatment of cardiac conditions, such as atrial fibrillation, and can be used to monitor patients with chronic conditions. Additionally, these systems can be used to detect early signs of cardiac events, such as heart attacks, and can be used to monitor patients during and after surgery. Some companies in the Wireless Cardiac Monitoring Systems market include AliveCor, Cardiomo, CardioComm Solutions, and iRhythm Technologies. Show Less Read more

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