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(CityRegions.Com, June 06, 2018 ) The South America cardiac arrhythmia monitoring devices market is expected to register a high CAGR during the forecast period, 2018 to 2023. Cardiac arrhythmia monitoring devices are extremely useful in tracking the heart function and report any abnormalities in normal function (rhythm). Hence, they not just help in maintaining a continuous record of heart function but have also proven to be lifesavers due to their ability to report abnormalities in normal heart function, like in the case of a cardiac event.
Key Developments in the Market:
December 2017 – Philips has acquired vital Health
July 2017 – BioTelemetry (BEAT) Acquired LifeWatch
Major Players: GE HEALTHCARE, MEDTRONIC'S, PHILIPS HEALTHCARE, PREVENTICE and BIOTELEMETRY, among others.
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Increasing Use of Telecardiology
In disorders like cardiac arrhythmia, cardiac monitoring is not just essential but is needed continuously. As cardiac arrhythmia is not fully curable and since, it’s not practical to retain a patient in hospital for extremely long durations nor its practical to ask a patient to visit the hospital everyday (that too for several times a day in some cases), the best possible way to continuously monitor the patients suffering from cardiac arrhythmia is through remote patient monitoring by using the cardiac arrhythmia monitoring devices. This in technical terms is referred to as telecardiology. In telecardiology, the patients suffering from cardiac arrhythmia are given a cardiac arrhythmia-monitoring device, which is then fixed on the chest area of patients superficially. These devices monitor heart rhythm through a set of 2 to 3 electrodes and record any abnormalities in heart function and some of these devices can even autonomously record an abnormality and/or cardiac event and alert the healthcare professionals. Most of these devices can be monitored remotely and make it possible to effectively and efficiently monitor the patients suffering from cardiac arrhythmia. As it is extremely convenient to monitor the patients remotely when compared to regular patient visits to hospitals, telecardiology is becoming extremely popular both among the patients and the doctors. This growth in telecardiology means increase in demand for cardiac arrhythmia monitoring devices, which will ultimately drive the market for these devices. The other factors, such as ease of use and portability of cardiac arrhythmia monitoring devices and development of smart cardiac monitors are driving the South America cardiac arrhythmia monitoring devices market.
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Quality cannot be Controlled by the Devices
Most of the cardiac arrhythmia monitoring devices comes with automatic analysis software, which analyses the signal. But this analysis depends entirely on signal quality, which in turn is dependent on several different factors, such as proper attachment of the electrodes to the patient body, electromagnetic disturbance due to other devices in the vicinity, like the smart phones and other factors, such as muscle tremors. These devices cannot control these factors and often result in bad quality signal, which results in wrong analysis by the analysis software. But, often, this wrong analysis is considered by patients as the defect in the device itself and it is leading to loss of faith in these devices. This is ultimately affecting the sales of these devices and is hindering the growth of this market. The other factor, such as poor adoption of telemetry technology in South America markets and high cost of remote cardiac arrhythmia monitoring is also hindering the growth of the South America cardiac arrhythmia monitoring devices market.
Table of Content
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
7. Market Segmentation
8. Competitive Landscape
9. Key Players
10. Future of the Market
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