Cardiac Monitoring & Rhythm Management Devices Market

The global cardiac monitoring and cardiac rhythm management devices market is projected to reach USD 37.88 billion by 2031, up from USD 27.90 billion in 2026, growing at a CAGR of 6.3% over the forecast period. The growth of this market is primarily driven by the aging population and the subsequent increase in CVD prevalence, as well as the availability of reimbursement for CM & CRM devices. However, the shortage of skilled professionals is a challenge that may hinder this market's growth.

• In January 2025, Sutter Health and GE Healthcare entered a seven-year Care Alliance partnership to expand access to AI-powered imaging across California, improving patient care and clinician efficiency. The partnership includes upgrading technology like PET/CT, MRI, and ultrasound across Sutter’s facilities and supports new care sites and specialty centers
• In June 2024, Philips launched the Cardiac Workstation in EMEA to transform diagnostic cardiology by using advanced algorithms that streamline ECG data collection and analysis. The platform helps clinicians prioritize at-risk patients and reduces administrative burdens, enabling faster, more efficient care

The key players operating in this market are GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Boston Scientific Corporation (US), Baxter (US), Medtronic (Ireland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Abbott (US), Stryker (US), NIHON KOHDEN CORPORATION (Japan), MicroPort Scientific Corporation (China), FUKUDA DENSHI (Japan), OSI Systems, Inc. (US), iRhythm Inc. (US), Lepu Medical Technology (Beijing) Co., Ltd. (China), and AliveCor, Inc. (US)

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KONINKLIJKE PHILIPS N.V. (NETHERLANDS)

Koninklijke Philips N.V. is one of the leading players in health technology, offering innovative solutions in diagnostic imaging, patient monitoring, and connected care to enhance healthcare outcomes. The company operates through four business segments: Diagnostic and Treatment, Personal Health, Connected Care, and Others. The Connected Care segment is further divided into Hospital and Patient Monitoring, Emergency Care, Sleep & Respiratory Care, and Connected Care Informatics. Philips offers cardiographs, Holter monitoring, and stress-testing ECG through the Connected Care segment.

GE HEALTHCARE (US)

GE Healthcare is one of the leading medical device manufacturers, offering a wide range of essential healthcare technologies, including medical imaging, software, information technology, patient monitoring and diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement solutions. The company operates primarily through four business segments: Imaging, Ultrasound, Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx). The PCS segment offers a comprehensive range of products and solutions for diagnosing, treating, and monitoring patients across various medical disciplines, including imaging, ultrasound, and patient care. The company offers diagnostic ECG devices and software through its PCS business division.

MEDTRONIC PLC (IRELAND)

Medtronic is a leading provider in the cardiac monitoring and rhythm management device market, offering a range of cardiac monitoring solutions through its Cardiac Rhythm & Heart Failure business unit. Medtronic’s Reveal LINQ Insertable Cardiac Monitor is a notable product in the ambulatory ECG monitoring segment, enabling long-term detection of atrial fibrillation and other arrhythmias. The company emphasizes continuous ECG monitoring, wireless data transmission, and AI-based analytics for early diagnosis and remote care.

Market Ranking

The cardiac monitoring and rhythm management devices market is highly consolidated, dominated by major players, GE HealthCare (US), Koninklijke Philips N.V. (Netherlands), Boston Scientific Corporation (US), Baxter (US), Medtronic (Ireland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Abbott (US), Stryker (US), accounting for the largest share of the market. The leading players have strong global networks and established distribution in regions like North America and Europe. These companies leverage partnerships, advanced R&D, and brand strength to maintain their lead. Meanwhile, smaller players compete by offering low-cost products and innovative technologies, resulting in a market landscape that combines dominant global companies with agile, competitive regional providers.

To know about the assumptions considered for the study download the pdf brochure

Related Reports:

Cardiac Monitoring & Rhythm Management Devices Market by Type [Cardiac Monitoring (ECG, Ambulatory Monitors), Cardiac Rhythm Management [Pacemaker (Single, Leadless), Defibrillator (AED)], Application [Arrhythmia], End User [Hospital] - Global Forecast to 2031

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