Market Size (2016)
2016
$4.86B
Healthcare
Arrhythmia Monitoring Devices Market
By Segment, By Region, And Segment Forecasts, 2016 – 2024
Vertical: HealthcareBase Year: 201811 Sections
Executive Summary
Arrhythmia Monitoring Devices Market — Snapshot
Projected (2024)
2024
$8.09B
CAGR (2016–2024)
6.6%
6.6%Key Players
108+
A cardiac arrhythmia is a group of conditions where the heartbeat is irregular, i.e., either, too slow, or too fast. The condition is also known as cardiac dysrhythmia. Arrhythmia monitoring devices are used by physicians to identify the type and the cause of irregular heart rhythms. The growing prevalence of cardiac diseases, rising FDA approvals for arrhythmia monitoring devices, and increase in the adoption of low-cost electrocardiogram (ECG) devices are some of the factors that are anticipated to drive the growth of the market over the forecast period. Despite the drivers, the rise in product recalls and complications associated with these devices may hamper the growth of the market.
The global arrhythmia monitoring devices market was valued at USD 5,522.0 million in 2018, and the market is estimated to grow at USD 8,087.4 million by 2024. In 2018, the Americas accounted for the largest market share of 39.8% with a market value of USD 2,198.7 million, followed by Europe with a market value of USD 1,657.9 million in 2018.
The global arrhythmia monitoring devices market has been segmented based on device type, application, end user, and region.
Based on device type, the resting ECG segment accounted for the largest market share of 31.2% in 2018, with a market value of USD 1,720.3 million, which is projected to register a CAGR of 6.0% during the forecast period.
Based on application, the tachycardia segment accounted for the largest market share of 25.6% in 2018, with a market value of USD 1,413.7 million, which is projected to register a CAGR of 6.83% during the forecast period.
On the basis of end user, the market has been segmented into hospitals and clinics, diagnostic centers, homecare settings, ambulatory surgery centers (ASCs), and others. The hospitals and clinics segment accounted for the largest market share of 31.5% in 2018, with a market value of USD 1,740.0 million, which is projected to register a CAGR of 7.09% during the assessment period.
Key Insight
The Arrhythmia Monitoring Devices Market market is projected to grow at a CAGR of 6.6% from 2016 to 2024.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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What this report covers
- Geographic Coverage: This analysis covers 5 regions: Asia Pacific, South America, Europe, North America, Middle East and Africa.
- Market Segmentation: The market is analyzed across 6 segments: Resting ECG, Event Monitor, Implantable Cardiac Monitors (ICM), Holter Monitor, Mobile Cardiac Telemetry (MCT) Devices, Others. Forecasts are provided for each segment from 2016 to 2024.
- Competitive Landscape: 108 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
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View Subscription PlansMarket Overview
Arrhythmia Monitoring Devices Market — Growth Trajectory
Cardiac arrhythmia monitoring devices are extremely useful in tracking the functions of the heart function and report any abnormalities in the normal function (rhythm). Hence, they do not just help in maintaining a continuous record of heart functions but have also proven to be lifesavers due to their ability to report abnormalities in normal heart functions, like in the case of a cardiac event. The global market for arrhythmia monitoring devices is expected to propel owing to factors such as increasing use of telecardiology, ease of use and portability of cardiac arrhythmia monitoring devices, and development of smart cardiac monitors. However, the poor adoption of telemetry technology in emerging markets and high cost of remote cardiac arrhythmia monitoring are anticipated to hamper the growth of the global arrhythmia monitoring devices market.
Arrhythmia Monitoring Devices Market — Growth Trajectory
Resting ECG
Event Monitor
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How this market is segmented
- Device Type Device Type is broken down into: Resting ECG, Event Monitor, Implantable Cardiac Monitors (ICM), Holter Monitor, Mobile Cardiac Telemetry (MCT) Devices, Others.
- Application Application is broken down into: Tachycardia, Bradycardia, Atrial Fibrillation (A-fib), Ventricular Fibrillation (V-fib), Premature Ventricular Contractions (PVC), Conduction Disorders, Application_Others.
- End User End User is broken down into: Hospitals & Clinics, Diagnostic Centers, Homecare Settings, Ambulatory Surgery Centers (ASC), End User_Others.
Geographic Analysis
Regional market breakdown
- Asia Pacific Asia Pacific market size reached $1.02B in 2016 and is projected to reach $1.70B by 2024, growing at a CAGR of 6.6%.
- South America South America market size reached $455.40M in 2016 and is projected to reach $700.00M by 2024, growing at a CAGR of 5.5%.
- Europe Europe market size reached $1.45B in 2016 and is projected to reach $2.36B by 2024, growing at a CAGR of 6.2%.
- North America North America market size reached $1.47B in 2016 and is projected to reach $2.60B by 2024, growing at a CAGR of 7.4%.
- Middle East and Africa Middle East and Africa market size reached $467.00M in 2016 and is projected to reach $726.70M by 2024, growing at a CAGR of 5.7%.
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View Subscription PlansResearch Methodology
Arrhythmia Monitoring Devices Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2018
Historical Period
2016 – 2018
Forecast Period
2018 – 2024
Primary Interviews
150+
Research Process
Historical data (2016–2018) and forecast period (2018–2024)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
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View Subscription PlansCompetitive Landscape & Porter's Five Forces
Arrhythmia Monitoring Devices Market — Competitive Analysis
Bargaining Power of Suppliers
Bargaining power of suppliers in the arrhythmia monitoring devices market is medium. There are a number of suppliers present in the market owing to the high demand, increasing government support, and the availability of huge opportunities for the development of the market. Switching cost of these suppliers is high because suppliers tend to enter into long-term associations, partnership, and deals with the other device manufacturing companies. Also, the key companies thrive to survive in the market with their brand identity and the quality of the product. Therefore, the overall bargaining power of suppliers in the global arrhythmia monitoring devices market is medium.
Bargaining Power of Buyers
The bargaining power of buyers is medium in the global arrhythmia monitoring devices market. This is increasing due to a rise in the number of choices of the products and high switching cost. Thus, several manufacturers are trying to come up with innovative techniques to withstand the competition. However, the buyers tend to use the products that have been provided by the top players irrespective of the pricing, which affects the power of a buyer in the industry.
Threat of New Entrants
The threat of new entrants in the global arrhythmia monitoring devices market ranges from low to medium. Any company trying to enter the market is required to accept the mandatory regulatory standards issued by government authorities. The market is also characterized by a high degree of brand loyalty where establishing a brand name is difficult for newcomers. Also, there is a rise in the incidence and prevalence rates of cardiovascular diseases, which attracts the currently established manufacturers and the new monitoring device manufacturers. Furthermore, the cost involved in research and development (R&D) is comparatively high which does not comfort the new entrants to enter the market easily.
Threat of Substitutes
The threat of substitutes in the global arrhythmia monitoring devices market is medium. There are very less substitutes available in the market, and buyer propensity to substitute is low. So, quality and trust issue and excellent service provided by the existing players restrict the threat by the substitutes.
Intense Rivalry
The degree of competition in the global arrhythmia monitoring devices market is high. Companies involved in this market are trying to introduce more advanced equipment, for differentiating their product from their rivals. Moreover, manufacturers also focus on the enhanced safety and quality of the devices to increase the demand for these products in developed countries and developing regions. To overcome the competition, players are engaged in partnering with established organizations and welcoming tie-ups.
Quantitative Analysis
Regional Breakdown
Regional market breakdown for Arrhythmia Monitoring Devices Market.
Regional Market Size (USD Mn)
Market estimates by geography (2024)
USD Mn
InsightNorth America leads with $2.60B by 2024.
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View Subscription PlansRegional Market Data
| REGION | 2016 | 2018 | 2024 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $1.02B | $1.28B | $1.70B | 6.6% | 21% |
| South America | $455.40M | $570.70M | $700.00M | 5.5% | 9% |
| Europe | $1.45B | $1.90B | $2.36B | 6.2% | 29% |
| North America | $1.47B | $1.97B | $2.60B | 7.4% | 32% |
| Middle East and Africa | $467.00M | $608.20M | $726.70M | 5.7% | 9% |
| Total | $4.86B | $6.33B | $8.09B | 6.6% | 100% |
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View Subscription PlansSegment Revenue (2024)
Resting ECG
Event Monitor
Implantable Cardiac Monitors (ICM)
Holter Monitor
Mobile Cardiac Telemetry (MCT) Devices
Others
0680136020392719
Segment Market Share
- Resting ECG31%
- Event Monitor21%
- Implantable Cardiac Monitors (ICM)19%
- Holter Monitor13%
- Mobile Cardiac Telemetry (MCT) Devices10%
- Others6%
Total Market Size
$8.09B
Market by Segment (2024)
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Resting ECG | $2.47B | 6.6% | 89% |
| Event Monitor | $1.69B | 6.6% | 61% |
| Implantable Cardiac Monitors (ICM) | $1.53B | 6.6% | 66% |
| Holter Monitor | $1.09B | 6.6% | 89% |
| Mobile Cardiac Telemetry (MCT) Devices | $826.60M | 6.6% | 54% |
| Others | $478.20M | 6.6% | 53% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytics
Arrhythmia Monitoring Devices Market — Key Findings
Analytical insights on Arrhythmia Monitoring Devices Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Arrhythmia Monitoring Devices Market market is projected to reach $8.09B by 2024, growing at 6.6% CAGR. The Resting ECG segment holds the largest share.
Market Dynamics
Arrhythmia is a heart condition which occurs when electrical signals to the heart that coordinate heartbeats are not working properly. The growing prevalence rate of cardiac diseases, rise in Food and Drug Administration (FDA) approvals for cardiac monitoring devices, coupled with the rise in the adoption of low-cost electrocardiogram (ECG) devices are expected to enhance the growth of the segment. However, the increasing number of product recalls and complications related to devices are projected to curb the growth of the market.
Market Drivers
Arrhythmia monitoring devices have been gaining significance in recent years owing to the rising prevalence of heart diseases. According to the data published by the Centers for Disease Control and Prevention (CDC) in 2017, about 2.7 to 6.1 million people in the US had atrial fibrillation, a common form of heart arrhythmia. According to the British Heart Foundation in 2017, about 2,265,422 cases of coronary heart diseases were also registered from 2015 to 2016 in the UK. Moreover, according to the European Cardiovascular Disease Statistics 2017, each year cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU). Conclusively, the growing prevalence of cardiac diseases globally has led to increased use of monitoring devices which thereby provides a favorable scenario for the market to grow over the forecast period.
Market Opportunities
The increasing innovation in the arrhythmia monitoring devices market is expected to largely affect the growth of the market during the assessment period. For instance, in 2015, Icentia, a Canadian manufacturer of medical devices, launched CardioSTAT which provides comfortable ECG recording for up to seven days. Moreover, in 2017, the company launched a new version of CardioSTAT which had an extended recording duration for more accurate and definitive diagnosis, especially, with patients suffering from paroxysmal atrial fibrillation (AF).
Furthermore, in May 2018, Preventice Solutions announced the launch of BodyGuardian Mini, a small reusable cardiac monitor with Holter technology that enables up to 14 days of ECG recording that can be delivered to the physician in the form of a digital report. Thus, the growing worldwide demand for precise monitoring devices influences key players to create more and more innovation in the near future. As a result, this will lead to the growth of the arrhythmia monitoring devices market.
Market Restraints
The increase in product recalls in recent years has impacted the growth of arrhythmia monitoring devices negatively. For instance, in February 2016, Medtronic plc announced the recall of its Reveal LINQ Insertable Cardiac Monitor (ICM) in Australia. This recall was classified under Class II as it might cause temporary or medically reversible adverse health consequences in patients. Such incidences affect the sales of other brands of companies, which results in the decreased growth for the company, as well as the decrease in the growth for the whole market.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Market Value by Segment (2024)
Value (USD Mn)
Resting ECG
Event Monitor
Implantable Cardiac Monitors (ICM)
Holter Monitor
Mobile Cardiac Telemetry (MCT) Devices
Others
Companies
Key companies profiled in Arrhythmia Monitoring Devices Market
Profiles of 108 companies operating in the Arrhythmia Monitoring Devices Market market, including revenue, employee count, and market positioning where available.
Showing 108 of 108 companies
Spacelabs
Spacelabs Healthcare
Healthcare
Company Headquarters: Washington, US Founded: 1958 Company Working: Spacelabs Healthcare (Spacelabs) is engaged in developing and manufacturing medical equipment for clinicians and healthcare facilities located worldwide. Spacelabs offers patient monitoring and connectivity solutions, such as patient monitors, telemetry, and supplies and accessories. The company also provides diagnostic cardiology solutions, including Holter analyzers/recorders, stress testing, resting ECG, and event recording, among others. Additionally, its offices are located in the UK, Canada, India, France, Germany, Finland, Singapore, and the US. It is a subsidiary of OSI Systems.
Revenue$1.0B
EmployeesN/A
Market CapN/A
Founded1957
Washington, US
Fukuda Den
Fukuda Denshi Co. Ltd
Healthcare
Company Headquarters: Japan Founded: 1948 Workforce: 3,132+ Company Working: Fukuda Denshi Co. Ltd (Fukada) is engaged in manufacturing and selling electronic medical equipment worldwide. The company’s product portfolio includes resting electrocardiograph products, data management software, stress test products, Holter products, and patient monitoring systems such as central and bedside monitors, digital transmitters, and central viewer workstations. It also offers defibrillator monitors, ultrasound scanners, and vascular screening systems.
Revenue$0.9B
Employees3,132
Market CapN/A
Founded1947
Japan
AliveCor I
AliveCor Inc.
Healthcare
Company Headquarters: California, US Founded: 2010 Company Working: AliveCor Inc. (AliveCor) manufactures electrocardiogram recorders. The company develops credit card-sized wireless devices that can turn mobile platforms into heart monitors. It serves patients, physicians, and healthcare providers in the US.
RevenueN/A
EmployeesN/A
Market CapN/A
Founded2009
California, US
Biotronik
Biotronik
Healthcare
Company Headquarters: Berlin, Germany Founded: 1963 Workforce: ~9,000 Company Working: Biotronik is a leading global medical device company with products and services that improve and save the lives of patients suffering from endovascular and cardiovascular diseases. The company’s technologies enable physicians around the world to provide patients the highest standard of care. Its medical devices are created by engineers and designers in Germany, the US, Switzerland, and Singapore. The company is a Golden Goose in the US because of its medium to strong market share, strong profit margins, and slower revenue growth than some of its competitors in the Medical Device Manufacturing industry, where it accounts for an estimated 0.5% of total industry revenue. The company research, develops, and manufactures in technologically advanced countries, including Germany, Switzerland, the US, and Singapore.
RevenueN/A
Employees9,000
Market CapN/A
Founded1962
Berlin, Germany
Nihon Kohd
Nihon Kohden Corporation
Healthcare
Company Headquarters: Tokyo, Japan Founded: 1951 Workforce: ~5,169 Company Working: NIHON KOHDEN CORPORATION is a leading manufacturer, developer, and distributor of electronic equipment. It operates through three segments: neuro, newborn care, and hearing and balance. It has continued to supply a wide range of electronic medical equipment, such as EEG, EMG/EP measuring systems, electrocardiographs, defibrillators, and hematology analyzers. Medical Electronics or Medical Engineering (ME) is the union of medicine and engineering. In addition, it provides patient monitor systems that include central monitors, bedside monitors, wireless monitors, remote access software, and other equipment, as well as clinical information systems and related consumables such as electrodes and sensors. The company has sales subsidiaries in the US, Mexico, Colombia, Brazil, Germany, France, Spain, Italy, the UK, China, Singapore, Thailand, Malaysia, India, the UAE, and Korea. A network of distributors covers the countries where it does not have a direct sales system. Its products are exported all over the world.
Revenue$0.5B
Employees5,169
Market CapN/A
Founded1950
Tokyo, Japan
BioTelemet
BioTelemetry
Healthcare
Company Headquarters: Pennsylvania, US Founded: 1994 Workforce: ~1,600 Company Working: BioTelemetry provides monitoring services and digital population health management to healthcare providers. It also develops and manufactures medical devices and centralized core laboratory services for clinical research. The company is focused on cardiac monitoring and has developed a proprietary integrated patient management platform to transmit data through the wireless network. It has three business segments, namely, healthcare, research, and technology.
Revenue$0.2B
Employees1,600
Market CapN/A
Founded1993
Pennsylvania, US
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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Arrhythmia Monitoring Devices Market
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