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The cardiac monitoring and cardiac rhythm management devices market is divided into two segments, namely,conventional monitoring devices and cardiac rhythm management (CRM) devices; the market is forecast till 2017.Over the years,these devices have evolved greatly from traditional monitoring devices to smaller ones with enhancedutility, sensitivity, automation, and performance.
The global cardiac monitoring and cardiac rhythm management market was worth
$18.4 billion in the year 2012. Increasing incidence of cardiovascular diseases, technological advancement, rising cost of cardiac disease treatment, and government regulations in favor of cardiac monitoringare is accelerating the growth of conventional monitors as well as CRM devices. However, the economic slowdown and unstable reimbursement policies will hamper the growth of this market, to a certain extent.
Mobile cardiac telemetry, ECG data management systems, and remote patient monitoring represents vast opportunities for key players in this market. With the introduction of mobile telemetry and remote monitoring in the cardiac field, the use of home and ambulatory services is also on the rise.In 2010, there were an estimated 2.2 million users for remote patient monitoring in the U.S. alone; and this number is set to increase threefold to 6 million by 2016.ECG data management systems currently represent worldwide growth opportunity of approximately
The CRM devices market faced certain challenges in the recent past, owing to research studies published in the Journal of the American Medical Association (JAMA) and hospital investigations conducted by the Department of Justice (DOJ), which reported the inappropriate use of these devices. This affected the sales of CRM devices. The defibrillators and pacemakers markets showed flat growth rates in the U.S. from 2009 to 2011. However, with the technological advancements such as introduction of MRI pacemakers, subcutaneous ICDs, and home automated external defibrillators(AEDs), this market is expected to bounce back.