The global wireless cardiac monitoring systems market was valued at USD 2.98 billion in 2022 and is projected to reach USD 7.12 billion by 2030, growing at a CAGR of 11.4% from 2023 to 2030. These systems are remote healthcare tools designed to monitor heart activity, enabling timely diagnosis and medical evaluation without the need for constant in-person visits.
Market growth is being fueled by several key factors, including the increasing elderly population prone to cardiovascular diseases (CVDs), technological advancements in remote cardiac monitoring, and a rise in product approvals in developed markets. According to the British Heart Foundation, the global prevalence of heart and circulatory diseases reached 620 million in 2021, with atrial fibrillation accounting for approximately 10% of this figure.
The COVID-19 pandemic had a notably positive effect on the market. According to the European Society of Cardiology, mobile-based home ECG systems enabled clinicians to identify cardiac complications and ECG anomalies in non-hospitalized COVID-19 patients. Furthermore, patch-based monitoring devices received FDA approval for use in hospitalized COVID-19 patients due to the high incidence of cardiovascular issues like arrhythmias. Additionally, the pandemic significantly accelerated the adoption of telehealth and virtual care, creating further demand for wireless cardiac monitoring technologies.
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Key Market Trends & Insights
- North America led the global market in 2022, accounting for 48.53% of total revenue. This dominance is driven by an advanced healthcare system, widespread cardiovascular disease prevalence, high healthcare spending, and an aging population. According to the Rural Health Information Hub, the number of older adults in the U.S. is expected to grow by 18 million between 2020 and 2030. The same source reports that 90% of adults over 65 are expected to have one or more chronic health conditions, reinforcing the demand for continuous cardiac monitoring.
- By type, mobile cardiac telemetry systems held the largest revenue share at 35.78% in 2022. These systems provide continuous monitoring and improve diagnostic accuracy while enhancing patient compliance. The integration of telemedicine in clinical practices allows healthcare professionals to monitor long-term heart rhythm data, enabling more personalized and efficient care delivery.
- In terms of end-use, hospitals and clinics dominated the market with a 45.8% share in 2022. This can be attributed to their ability to manage critical patients who often require continuous monitoring. Hospitals and clinics are also better equipped with specialized staff and advanced medical infrastructure, facilitating effective use of wireless cardiac monitoring systems.
Market Size & Forecast
- 2022 Market Size: USD 2.98 Billion
- 2030 Projected Market Size: USD 7.12 Billion
- CAGR (2023-2030): 11.4%
- North America: Largest market in 2022
- Asia Pacific: Fastest growing market
Key Companies & Market Share Insights
The wireless cardiac monitoring systems market is highly competitive, with numerous players actively pursuing strategies such as product launches, regional expansion, mergers and acquisitions, partnerships, and technological enhancements.
For example, in May 2023, VivaLNK, Inc. introduced an upgraded multi-parameter wearable ECG patch capable of providing a continuous 14-day live stream. This innovation is designed to improve patient comfort while easing the administrative workload for clinics.
Key Players
- Koninklijke Philips N.V.
- Abbott
- Medtronic
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Asahi Kasei Corporation.
- iRhythm Technologies, Inc.
- Avertix Medical, Inc.
- Baxter International Inc.
- OSI Systems, Inc. (Spacelabs Healthcare)
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Conclusion
The global wireless cardiac monitoring systems market is witnessing rapid expansion, driven by a combination of technological innovation, a growing aging population, and increasing awareness of the need for continuous cardiac care. The COVID-19 pandemic served as a catalyst for the adoption of remote health monitoring and telehealth, significantly boosting market demand.
With North America currently leading the market and Asia Pacific emerging as the fastest-growing region, industry players are expected to continue innovating to meet rising global demand. As cardiovascular conditions remain one of the leading causes of death worldwide, the adoption of wireless cardiac monitoring systems is likely to become even more integral to modern healthcare practices.
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