The report "Cardiac Monitoring & Cardiac Rhythm Management (CRM) Market [ECG, Implantable Loop Recorder, Holter, Implantable Cardioverter Defibrillator (ICD), Automated External Defibrillator (AED), Pacemaker, CRT-D, CRT- P] - Global Forecasts to 2017 ", analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
The global cardiac monitoring and cardiac rhythm management market was worth $18.4 billion in the year 2012. The market will grow at a healthy pace in the next five years due to the increasing incidence of cardiovascular diseases, technological advancement, rising cost of cardiac disease treatment, and government regulations in favor of cardiac monitoring.
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The cardiac monitoring and cardiac rhythm management devices market is divided into two major segments, namely conventional monitoring devices and cardiac rhythm management (CRM) devices. Cardiac monitoring, the continuous monitoring of heart rhythm, plays an important role in the early diagnosis of cardiac diseases and thereby aids in timely treatment. Thus, it has emerged as an important tool in the field of cardiac care. Cardiac rhythm management devices perform dual function of monitoring and treatment, and hence they are widely used. Over the years, cardiac monitoring and cardiac rhythm management devices have evolved greatly from traditional monitoring devices to smaller ones with enhanced utility, sensitivity, automation, and performance.
Increasing incidence of cardiovascular diseases, technological advancement, rising cost of cardiac disease treatment, and government regulations in favor of cardiac monitoring are accelerating the growth of conventional monitors as well as CRM devices. However, the economic slowdown and unstable reimbursement policies will hamper the growth of this market, to a certain extent.
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The geographies covered in this study are North America, Europe, Asia, and Rest of the World (RoW). These four regions are further segmented by major countries, and geographic split for all the sub-segments is presented at a regional level. North America is the largest market for cardiac monitoring and cardiac rhythm management devices, followed by Europe and Asia. North America and Europe are expected to grow at a slower pace, primarily due to the economic slowdown and market maturity. The Asian market, especially India and China, is expected to witness a boost in demand for cardiac monitoring and CRM products, and is poised to register maximum growth over the next five years, owing to the rising incidence of cardiovascular diseases and increased purchasing power of patients.
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