Arrhythmia Market Growth & Trends
The covid-19 pandemic had a global impact on healthcare and medical device industry. COVID-19 has propelled the medical device and healthcare industry to new heights, with unprecedented demand for products such as diagnostic tests, ventilators, and personal protective equipment (PPE). One of the most commonly reported complications in COVID-19 patients is arrhythmia. However, the underlying pathophysiology is multifactorial and poorly understood. According to the National Health Commission of China, cardiovascular symptoms rather than respiratory symptoms were the first clinical manifestation in some patients, with heart damage accounting for 11.8 percent of COVID-19 deaths. Chronic cardiovascular conditions such as heart failure, acute coronary syndrome, and arrhythmic disease increase the risk of COVID-19 effect. Hypoxia caused by direct viral tissue involvement of the lungs, myocarditis, abnormal host immune response, and myocardial ischemia are some of the potential mechanisms that could result in arrhythmogenesis in COVID-19 patients.
The high demand for arrhythmia treatment and devices among patients and healthcare facilities is primarily due to an increase in the number of cardiovascular diseases, as well as a change in lifestyle. These factors have also largely contributed towards the growth of global arrhythmia market. The use of arrhythmia devices is expected to be widespread, particularly in hospitals, in order to manage a large number of patients with critical cardiac conditions. Heart rhythm problems arise when the electrical signals that coordinate the heart's beats are disrupted. The faulty signaling causes the heart to beat too quickly (tachycardia), too slowly (bradycardia), or irregularly. According to the World Health Organization (WHO), death caused due to cardiovascular diseases is approximately 17.9 million each year, worldwide. People with severe CVD are more likely to develop cardiac arrhythmias such as tachycardia and bradycardia, and require continuous monitoring to avoid sudden heart failure.
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Arrhythmia market participants are incorporating advanced technologies in arrhythmia devices and releasing new products to meet demand from end users such as hospitals, clinics, ambulatory surgical centers, and patients. For instance, Abbott announced the launch of its HD grid mapping catheter, which is sensor enabled, in June 2019. The catheter has a new design that allows practitioners to see things differently, capturing and analyzing data in a novel way to create highly detailed maps of the heart that better distinguish healthy from unhealthy tissue. Furthermore, RhythMedix, a remote cardiac monitoring company, announced the release of its next-generation RhythmStar wearable device with built-in 4G cellular connectivity in February 2021. RhythmStar with HeartTime on-demand telemetry mode, is an innovative platform that enables physicians to evaluate cardiac activity and expedite care through a telemedicine appointment, reducing the need for an in-person office visit. Similar advancements in product innovation and technology enhancement showcase potential growth opportunities for global arrhythmia market over the forecast period.
Our 402+ pages research study will include extensive information on the following pointers:
- Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
- Business, Technological & Regulatory Trends
- Analysis on Impact of Covid-19 on Arrhythmia Market
- Global Impact
- Potential Measures and Opportunities
- Strategic Initiatives and Developments
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Benchmarking: Global Presence and Growth Strategies
- Mergers and Acquisitions
- Product Launches
- Investments Trends
- R&D Initiatives
- Market Share Analysis, 2020
- Detailed profiles of major market participants operating in the market, encompassing information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies
- Research study focusing on specific regions, including North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available.
- The reports can be provided in different languages including Chinese, Korean, Japanese, German, Arabic, Russian, French, Spanish, and other languages.
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Arrhythmia Market Report Highlights
- Based on therapeutic indication, bradycardia segment is estimated to accelerate with the highest growth rate in the arrhythmia market over the forecast period due to an increase in cases of endocrine and metabolic dysfunction. Bradycardia, a condition characterized by a slow heart rate, affects people of all ages, though geriatrics are more commonly diagnosed with this heart-beat irregularity. It is estimated that nearly 600,000 people worldwide receive treatment for bradycardia, which is most commonly caused by a problem with the s-a node or an issue with the heart's electrical pathways.
- Cardiac monitoring devices is anticipated to surge with a substantial growth rate over the period of next eight years, owing to the increased prevalence of cardiovascular disease and the availability of reimbursement for CRM devices. Furthermore, AliveCor, iRhythm, and medical device businesses such as Medtronic are also heavily involved in creating heart monitoring EKG devices for cardiac patients to use at home and for physicians to utilize on COVID-19 patients.
- Clinics and patients are anticipated to witness fastest growth during the forecast period, owing to an increase in incidences of cardiovascular arrhythmia and also prominent companies focusing on the development of wearable based monitoring devices for patients. RhythMedix, for instance, introduced a wearable cardiac monitor to identify arrhythmias.
- Asia Pacific region is expected to register highest growth rate over the projection period because of to its large population and diverse age groups that are prone to arrhythmia illnesses. Furthermore, demand for arrhythmia devices is predicted to rise due to improvements in healthcare infrastructure and expenditure in developing economies, such as India and China, to address these countries' medical needs.
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Arrhythmia Market Segmentation
The arrhythmia market has been segmented on the basis of therapeutic indication, devices, end users, and region, which are further classified into countries:
Arrhythmia Market Therapeutic Indication Outlook (Revenue, USD Million, 2015 - 2029)
- Bradycardia
- Atrial Fibrillation
- Atrial Flutter
- Tachycardia
- Ventricular Fibrillation
- Others
Arrhythmia Market Devices Outlook (Revenue, USD Million, 2015 - 2029)
- Cardiac Resynchronization Devices
- Cardiac Monitoring Devices
- Defibrillators
- Catheters and Introducers
- Mapping System
- Pacemakers
- Others
Arrhythmia Market End Users Outlook (Revenue, USD Million, 2015 - 2029)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Patients
- Others
Arrhythmia Market Region Outlook (Revenue, USD Million, 2015 - 2029)
- North America
- S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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List of Key Players in the Arrhythmia Market:
- Abbott
- Acutus Medical, Inc.
- ATRICURE, INC.
- BIOTRONIK
- Boston Scientific Corporation
- Fukuda Denshi
- General Electric Company
- Hill-Rom Services, Inc.
- Koninklijke Philips N.V.
- Medtronic
- NIHON KOHDEN CORPORATION
- OSI Systems, Inc.
- RHYTHMEDIX
- Texas Cardiac Arrhythmia
- VitalConnect
- Zio by iRhythm Technologies, Inc.
- Other Market Participants
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