Remote Cardiac Monitoring Services Market to Witness Notable Growth by 2028

The global Remote Cardiac Monitoring Services Market size is forecast to reach USD 10.97 Billion by 2028, registering a CAGR of 11.5% over the forecast period according to a new report by Reports and Data. Major factors driving market revenue growth are increase in prevalence of cardiovascular diseases (CVD), increasing incidence of obesity, lower cost of remote monitoring and rising geriatric population. Due to the rise in the rate of occurrence of CVD, remote cardiac monitoring services are becoming increasingly relevant in the healthcare sector.

A wide range of other applications such as detection, monitoring, and treatment of heart activities along with identifying abnormal heart rhythm has also contributed to the growth of remote cardiac monitoring services market. Increase in rate of occurrence of CVD has resulted in creating a burden on healthcare providing organizations. Such a burden has resulted in increased public and private investment in this industry. Due to the increase in investments, the industry is coming up with new services, that has impacted the growth of the industry positively. Remote cardiac monitoring services have enabled the transcending of geographic barrier for patients as well as for care providers. Such an increase in acceptance of the service has also contributed to the growth of remote cardiac monitoring services market.

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Further key findings from the report suggest

On the basis of product type, cardiac event recorder is forecast to hold the largest market share by 2026, with a CAGR of 11.8% during the forecast period. Factors like availability of cardiac event recorder, awareness about the product and ease of applicability have contributed to its market dominance.
On the basis of technology, digital health technology segment held the largest market share in 2020. Factors like its early incorporation in the healthcare sector as compared to other technologies, makes it more acceptable, thus contributing to its large market share.
On the basis of event monitoring, post symptom event monitor segment occupied the largest market share in 2020. Factors contributing to this greater market share is the lack awareness among care users to record and monitor significant vitals in a scheduled manner due to which, event monitoring is performed only after the symptoms or the condition has been identified.
In the application segment, coronary artery disease occupies the largest market share in 2020. The fact that it is one of the commonly occurring cardiovascular diseases makes the application of the service in this segment highly relevant.
In the end-use segment, hospitals accounted for the largest market revenue share in 2020. Factors like an increase in incidence of coronary and cardiovascular heart diseases and the rise in the use of remote cardiac monitoring services in hospitals have contributed to the growth of the segment.
North America region accounted for the largest market revenue share and is forecast to register a CAGR of 12.2% over the forecast period. The rise in the rate of occurrence of cardiovascular diseases and increasing spending on healthcare sector as well as on research and development in this region results in promoting market growth in this region.

Competitive Outlook of the Global Remote Cardiac Monitoring Services Market

The globla Remote Cardiac Monitoring Services market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Remote Cardiac Monitoring Services market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.

Top Companies Profiled in the Report:

Preventice Solutions, Honeywell Life Care Solutions, Cardionet, Koninklijke Philips, Medtronic, Boston Scientific Corporation, Biotronik SE Co. KG, Cardiac Science Corporation, Hill-Rom Holdings, Inc., LivaNova PLC, ReliantHeart Inc., St. Jude Medical, Inc, and Schiller AG.

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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.

Remote Cardiac Monitoring Services Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2020 – 2028)

Cardiac Event Recorder
Loop memory Monitor
Symptom event monitor
Holter Monitor
Insertable Cardiac Monitor (ICM)
Mobile Cardiac Telemetry Devices

Technology Outlook (Revenue, USD Billion; 2020 – 2028)

Digital Health Technology
Mobile Cardiac Telemetry Monitoring (MCT/MCOT)
Artificial Intelligence
AutoDetect Monitors
Manual Event Monitor
Smart Wearable ECG Monitors

Event Monitoring Outlook (Revenue, USD Billion; 2020 – 2028)

Pre-Symptom (Memory Loop)
Post-Symptom Event Monitor

Application Outlook (Revenue, USD Billion; 2020 – 2028)

Coronary Artery Disease
Arrhythmia
Hypertension

End Use Outlook (Revenue, USD Billion; 2020 – 2028)

Diagnostic Centers
Hospitals
Ambulatory Surgical Centers
Academic and Research Institutions
RD Centers

Geographic Segment Covered in the Report:

The Remote Cardiac Monitoring Services report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

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