New Age Technology Poised to Change the Way Care is Delivered
The cardiac monitoring market is at a juncture where classical point-of-care monitoring devices are being commoditized, while advances in the understanding of patient needs have resulted in upgraded versions of cardiac monitors entering the market. The classical point-of-care electrocardiogram, as a technology, is at a stage where innovation is focused around the themes of miniaturization, connectivity, and continuous monitoring. Doctors are increasingly preferring ambulatory cardiac monitoring to diagnose cardiac rhythm disorders better, and companies are trying to match up to customer expectation by developing products that make continuous cardiac monitoring more effective, convenient, and affordable. With the patient base increasing each year, companies have an opportunity to improve clinical outcomes and increase revenue. The use of artificial intelligence is beginning to reduce workload at healthcare facilities and enhance diagnostic capability.
New companies are entering the value chain that was once dominated by classical Medtech participants, making the space very competitive. As patients become aware and want to have more control over their health and wellness, lines between classical cardiac monitors and wearables are blurring. This is expected to cause near-term disruption in the cardiac monitoring segment, and the landscape will witness companies working toward that shift. A shift will also be seen as companies will start integrating the device and service and will aim at addressing a larger component of the healthcare value chain.
This study provides an overview of the conventional cardiac monitors and medical-grade wearables in terms of hard numbers, unmet needs, and game-changing strategies. The study provides a 5-year forecast for revenue and units shipped YoY as well as the market share of companies participating in the landscape.
Key Issues Addressed
- Is the market growing, how long will it continue to grow and at what rate?
- Are there any near-term disruptions that will influence market growth?
- Are there any new promising start-ups entering the market?
- How will the structure of the market change with time? Is the market ripe for acquisitions?
- Are the products/services offered today meeting customer needs or is additional development needed?
- What are the key influencers that will drive or deter market growth?
