Wearable Ambulatory Monitoring Device Market – Industry Share Report 2022
Wearable Ambulatory Monitoring Device Market
The Wearable
Ambulatory Monitoring Device Market is
anticipated to reach USD 4.17 Billion by 2030 at 8.20% CAGR during the forecast
period 2022-2030.
Rise of virtual care,
home care, and remote monitoring are accountable for pushing the demand for
wearable ambulatory monitoring devices. Penetration of the internet and
smartphones have facilitated in making these devices a success and monitoring
patients with a history of cardiac arrest and people above the age of 50.
But the sensitivity of
these devices to motion, changes in temperature and skin color, and data
concerns can hamper the market growth.
Wearable ambulatory monitoring devices are medical devices
with sensors embedded in them to detect abnormalities in the body. The burden
on the healthcare sector has led to its development and its eventual
commercialization. The global wearable ambulatory monitoring devices market
report by Market Research Future (MRFR) looks at the current state of the
healthcare sectors, the need for infusion of novel technology, and other
developments for the period.
Major Key
Players:
Some of the Wearable
Ambulatory Monitoring Device Market players are General
Electric Company, ZOLL Medical Corporation, ACS Diagnostics, Preventice
Solutions, Inc., iRhythm Technologies, Inc., Hill-Rom Services Inc.,
BioTelemetry, Medtronic PLC, Medicomp Inc., and Telerhythmics, LLC are key
players of the global wearable ambulatory monitoring devices market. New
product launches, acquisitions, and collaborations.
Segment Analysis
The global wearable
ambulatory monitoring devices market is been segmented by product type. Based
on product type, it has been segmented into mobile cardiac telemetry devices,
cardiac event monitors, Holter monitor, and others.
Cardiac event monitors
had accounted for the largest market share in 2018. This can be attributed to
its ability of recording long periods of monitoring. The electrocardiograms
(EKGs) are sent to the doctor’s office for further analysis and used in taking
measures in case of recurrence of cardiac arrest or other sudden attacks.
Regional Analysis
The global wearable ambulatory monitoring devices market analysis by
region has been divided into the Americas, Europe, Asia Pacific (APAC), and the
Middle East & Africa (MEA).
The Americas is likely to dominate the global wearable ambulatory
monitoring devices market. This can be attributed to the large number cases of
cardiovascular diseases (CVD) in the region. According to the American Heart
Association (AHA), close to 4 million Americans suffered from recurrent
arrhythmias in the U.S. in 2015. Moreover, the towering health expenditure per
person and increasing demand for advanced treatment options are also expected
to drive demand for wearable ambulatory monitoring devices.
Europe is estimated to be the second-largest during the review period.
The high numbers of arrhythmia in the region is expected to boost the growth of
the regional market. For instance, according to the statistics published by the
National Health Service (NHS), arrhythmia has affected more than 2 million
people per year in the UK. Additionally, the prevalence of high blood pressure
is another driver in Europe, which is further fueling the market demand for
wearable ambulatory monitoring devices. Strict policies pertaining to devices
required by the European Society of Hypertension can lead to accurate
recordings by Holter monitors.
APAC is anticipated to be the fastest-growing region in the market owing
to the launch of various products. For instance, Abbott Laboratories announced
the launch of its first smartphone-compatible insertable cardiac monitor to
detect arrhythmias in India in 2017. Looming presence of chronic cardiac
diseases can fuel the demand in the global wearable ambulatory monitoring
devices market.
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