Medtronic (Ireland) and Abbott Laboratories (US) are leading players in Cardiac Monitoring & Cardiac Rhythm Management Devices Market
The cardiac monitoring & cardiac rhythm management devices market is projected to reach USD 26.8 billion by 2025 from USD 22.1 billion in 2020, at a CAGR of 4.0% from 2020 to 2025. Cardiac monitoring refers to the continuous monitoring of heart activities by cardiac monitoring devices such as electrocardiograms, recording devices, and visual and/or audible recorders. These devices are used to either identify or rule out a heart rhythm disorder and determine the right course of treatment. Cardiac rhythm management devices include implantable devices (defibrillators and pacemakers), leads, and external devices to treat and manage arrhythmia-related diseases. The growth of this market is driven by the increasing prevalence of cardiovascular diseases; availability of reimbursement for CM & CRM devices; launch of innovative products by market players; increasing investments, funds, and grants for research on CM & CRM devices; and the growing preference for wearable cardiac devices.
The cardiac monitoring & cardiac rhythm management devices market is a highly fragmented market and is dominated by various players. The major players operating in this market are Medtronic (Ireland), Boston Scientific (US), Abbott Laboratories (US), GE Healthcare (US), BIOTRONIK (Germany), and Koninklijke Philips (Netherlands), Asahi Kasei Corporation (Japan), MicroPort Scientific Corporation (China), Hill-Rom Holdings (US), Nihon Kohden (Japan), SCHILLER AG (Switzerland), BioTelemetry (US), BPL Medical Technologies (India), ACS Diagnostics (US), Shenzhen Mindray Bio-Medical Electronics (China), Lepu Medical Technology (China), Shree Pacetronix (India), OSYPKA (Germany), and BTL t(US), Alivecor, Inc. (US), Amiitalia (Italy), Bexen Cardio (Spain), Narang Medical Limited (India), MeTrax GmbH (Germany), and Progetti Srl (Italy).
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Medtronic (Ireland)
Medtronic is one of the leading companies in the cardiac monitoring and cardiac rhythm management devices market. In order to maintain its position, Medtronic continuously focuses on gaining approvals for its advanced products in this market. Between 2017 and 2020, the company received approval for various cardiac devices, such as pacemakers and defibrillators. Medtronic operates in more than 160 countries across North America, Western Europe, Asia, and Latin America.
Abbott Laboratories (US)
Abbott has a strong foothold in the cardiac monitoring and cardiac rhythm management devices market. In 2017, Abbott entered the pacemakers market with the acquisition of St. Jude Medical (US). Abbott received approval for its magnetic resonance (MR)-conditional labeling for both the Assurity MRI pacemaker and the Tendril MRI pacing lead. The Assurity MRI pacemaker is the world’s smallest and longest-lasting wireless MRI-compatible pacemaker, which gives added advantage to the company, thus helping the company in maintaining its leading position in the market.
Related Reports:
Cardiac Monitoring & Cardiac Rhythm Management Devices Market By Product, CM {ECG (Holter Monitor), ILR, Event Monitor)}, CRM {(Defibrillator (ICD) External (AED)}, Pacemaker (CRT P, Dual Chamber Pacemaker)), End User & Region – Global Forecast to 2025
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