The escalating burden of cardiovascular devices and the rapid technological advancement of cardiac monitoring and rhythm management devices are driving the market expansion.
The global Cardiac Monitoring and Cardiac Rhythm Management Devices Market is expected to be valued at USD 29.32 Billion in 2027 from USD 21.75 Billion, registering a CAGR of 4.1% through the forecast period. The growing incidences of cardiovascular disorders in the geriatric populace and increasing levels of stress are predominantly contributing to the market growth. The increasing investment for the R&D activities to develop novel and innovative cardiac monitoring and rhythm devices with enhanced efficiency are projected to further drive the market growth.
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The advent of minimally and less invasive surgical procedures and technologies are expected to stimulate the market expansion further. Additionally, the increasing inclination of patients towards wearable cardiac monitoring devices is projected to add traction to the market growth. The fast-paced life, rapid urbanization, and increasing exposure to stress and unhealthy living conditions have increased the cases of cardiovascular devices, thereby driving the demand for cardiac monitoring devices. Moreover, the escalating usage of ambulatory and home cardiac monitoring services are expected to propel the market growth further.
However, the increasing product recalls and stringent regulatory framework and policies concerned with the product approvals might impede the market growth. The high costs associated with the devices is also projected to act as a major market growth restraining factor.
Key Highlights from the Report:
For the purpose of this report, Emergen Research has segmented the global Cardiac Monitoring & Cardiac Rhythm Management Devices Market on the basis of type, product, end-user, and region:
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Type Outlook (Revenue, USD Billion; 2017-2027)
Product Outlook (Revenue, USD Billion; 2017-2027)
End Users Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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