North America Cardiac Monitoring Devices Market Overview
The North America cardiac monitoring devices market is projected to grow from US$ 10.52 billion in 2021 to US$ 16.43 billion by 2028, expanding at a compound annual growth rate (CAGR) of 6.6% during this period.
Market Description
Cardiac event monitors track the heart’s electrical activity (ECG), heartbeat, and rhythm, providing crucial long-term monitoring for symptoms that may not occur daily. These devices enable real-time transmission of heart health data to physicians, allowing remote monitoring that reduces the need for frequent office visits.
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Market Segmentation
The market is analyzed by type, product type, application, end user, and country, with key countries including the United States, Canada, and Mexico. The report highlights market trends, technological innovations, competitive landscape, and growth drivers.
Key Market Insights
Rising Incidence of Cardiovascular Diseases (CVDs)
cardiovascular diseases remain a leading health challenge in North America. In the U.S., someone suffers a stroke every 40 seconds, and strokes cause a death every 4 minutes. Each year, over 795,000 people experience strokes, with approximately 610,000 being first-time incidents. The prevalence of CVDs such as coronary heart disease, sudden cardiac arrest, congenital heart defects, heart failure, and pulmonary hypertension is fueling demand for advanced cardiac monitoring.
According to the American Heart Association, over 130 million Americans—about 45.1% of the population—are projected to have some form of CVD by 2035. Coronary heart disease remains the top cause of CVD-related deaths, followed by stroke, hypertension, heart failure, and other vascular diseases. Risk factors include genetics, ethnicity, age, tobacco use, hypertension, obesity, high cholesterol, sedentary lifestyle, diabetes, unhealthy diet, and alcohol consumption. Early diagnosis and continuous monitoring are crucial to prevent CVD complications, boosting the demand for cardiac monitoring devices.
Innovation and Product Approvals Driving Growth
The market features a dynamic mix of established and emerging players who leverage product launches, regional expansion, and technological innovations to capture market share. Continuous advancements are making devices safer and more effective, driving wider adoption.
Recent notable developments include:
- Medtronic’s SonarMed (May 2021): A first-of-its-kind airway monitoring system using acoustic technology to detect endotracheal tube obstructions in real time.
- Medtronic’s AccuRhythm AI (July 2021): FDA-cleared AI algorithms integrated with the LINQ II implantable cardiac monitor, enhancing accuracy in detecting abnormal cardiac rhythms.
- Abbott’s Jot Dx ICM (July 2021): An implantable cardiac monitor offering advanced remote detection and personalized patient education through SyncUP technology.
- MicroPort CRM’s Alizea Pacemaker (January 2022): Bluetooth-enabled implantable pacemaker approved in Japan for optimized remote monitoring.
- Shenzhen Carewell Electronics’ NeoEC ECG Tablets (June 2021): Smart diagnostic ECG devices integrated with AI platforms for improved connectivity and analysis.
Such innovations and regulatory approvals continue to accelerate market growth.
Segment Analysis
- By Type: Cardiovascular devices dominated the market in 2020. Patient monitoring devices are expected to witness the highest CAGR from 2021 to 2028, driven by rising chronic disease prevalence and demand for wearable biosensors and smart implants monitoring temperature, glucose, oxygen saturation, and blood pressure.
- By Product Type: Standard monitors held the largest market share in 2020. However, smart wearable monitors are forecasted to grow fastest due to increasing adoption of remote, personalized care technologies, a trend intensified by the COVID-19 pandemic.
- By Application: Coronary heart diseases accounted for the largest share in 2020 and are projected to remain dominant through 2028. Rising incidences of diabetes, hypertension, and high cholesterol contribute to the growing burden of coronary conditions.
- By End User: Hospitals are the primary end users, maintaining the largest market share in 2020 and expected to continue this trend through 2028. They serve as major treatment centers for various cardiovascular diseases, including coronary heart disease, stroke, sudden cardiac arrest, and arrhythmias.
Strategic Insights
In the North America cardiac monitoring devices market, product launches and mergers & acquisitions are the most commonly adopted strategies by industry players. Notable recent developments include:
- In July 2021, Abbott introduced the Jot Dx insertable cardiac monitor in the US, designed to detect irregular heart rhythms.
- Also in July 2021, the US Food and Drug Administration (FDA) approved two AccuRhythm AI algorithms for use with the LINQ II insertable cardiac monitor (ICM). These AI-driven algorithms enhance the accuracy of heart rhythm event detection, enabling physicians to improve diagnosis and treatment of abnormal heart rhythms.
Data from the American Medical Association shows that prior to the COVID-19 pandemic, routine monitoring of hospitalized patients using heart rate devices and continuous pulse oximetry helped reduce mortality related to chronic heart diseases. The pandemic accelerated the demand for patient monitoring across emergency departments, standard care units, and home settings to detect clinical deterioration such as hypoxemia and manage hospital capacity effectively. This shift was driven by technological advancements, medical necessity, and supportive payment policies. COVID-19 has thus ushered in a new era of cardiac care emphasizing remote patient monitoring (RPM). Wearable cardiac monitoring devices that enable real-time cardiovascular surveillance are expected to continue reducing mortality rates and drive demand in the coming years, supported by a growing number of product approvals and launches.
Market Segmentation
The North America cardiac monitoring devices market is segmented by type, product type, application, end user, and geography:
- By Type: Cardiovascular devices (e.g., event monitors, electrocardiography (ECG), cardiac catheters, stents, defibrillators, guidewires, pacemakers, heart valves), patient monitoring devices (cardiac monitors, anesthesia monitors, hemodynamic monitors, fetal and neonatal monitors, stress management devices), multi-parameter ECG monitors, ambulatory cardiac monitoring (event recorders, implantable loop recorders, mobile cardiac telemetry), and others.
- By Product Type: Standard monitors, portable monitors, and smart wearable monitors.
- By Application: Coronary heart disease, stroke, sudden cardiac arrest, arrhythmia, heart failure, pulmonary hypertension, congenital heart disease, pulmonary artery pressure (PA), heart function (HF/LVEDP), and others.
- By End User: Hospitals, clinics, ambulatory surgery centers, cardiac centers, home care, and others.
- By Geography: United States, Canada, and Mexico.
Strategic Market Insights
Strategic insights into the North America cardiac monitoring devices market deliver comprehensive, data-driven analyses of industry trends, key market players, and regional characteristics. These insights equip stakeholders with actionable recommendations to stand out in a competitive landscape by identifying untapped segments and developing unique value propositions. Leveraging advanced data analytics allows manufacturers, investors, and other participants to anticipate market shifts and adjust their strategies accordingly. A forward-looking approach is critical for long-term success in this dynamic region, enabling decision-makers to maximize profitability and achieve their business goals within the cardiac monitoring devices market.
Market leaders and key company profiles
Medtronic
Abbott
Boston Scientific Corporation
iRhythm Technologies, Inc.
GE Healthcare
Biotronik, Inc.
SCHILLER Healthcare India Pvt. Ltd
Koninklijke Philips N.V.
MicroPort Scientific Corporation
Asahi Kasei Corporation
North America Cardiac Monitoring Devices Regional Insights
The geographic scope of the North America Cardiac Monitoring Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
Mazhar Abbas
labubuoffical
Scarlett Watson