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Global Cardiac Patch Monitor Market to reach USD 2167.11 million by the end of 2030

Global Cardiac Patch Monitor Market Size study & Forecast, by Product (Patch Recorde, Holter Monitors) by End User (Hospitals, Homecare Settings, Others),and Regional Analysis, 2023-2030

Product Code: HLSMDE-25234690
Publish Date: 20-10-2023
Page: 200

Global Cardiac Patch Monitor Market is valued at approximately USD 504 million in 2022 and is anticipated to grow with a healthy growth rate of more than 20% over the forecast period 2023-2030. The cardiac patch monitor uses electrodes placed on the patient’s chest to find and capture the electrical impulses the heart produces. The device receives these impulses and transmits them, storing the information for further study by medical personnel. During the monitoring time, a cardiac patch monitor is used to record any abnormal heart rhythms or electrical patterns in a human body . Patients with irregular or sporadic heart-related symptoms, such as palpitations, lightheadedness, or fainting spells, are frequently prescribed this medication. The Cardiac Patch Monitor market is expanding because of factors such as the rise in the prevalence of chronic cardiac diseases, the growing aging population, and technological advancement in cardiac patch monitors.

The prevalence of chronic cardiac diseases like heart attack, myocardial infarction, and stroke is increasing, which is fueling demand for cardiac patch monitors to track patients’ heart health who frequently experience symptoms of heart irregularities such as palpitations, lightheadedness, or fainting spells. For instance, the Centres for Disease Control and Prevention (CDC) 2022 report states that in 2020, 20.1 million persons aged 20 and older had coronary artery disease. Furthermore, the same report stated that every year about 805,000 Americans have a heart attack. Thus, rising chronic cardiac diseases is driving the market growth. Furthermore, The heart’s electrical system also experiences natural changes as people age. Arrhythmias become e likely to due to decline in the efficiency of the conduction system that coordinates the heart’s electrical signals. As a result, the need for cardiac patch monitors is driven by the aging population’s increased vulnerability to cardiac illness. According to World Health Organization. As of the year 2022, the share of the population aged 60 years reached 1.4 billion increase from 1 billion in the year 2020 and it is projected to reach 2.1 billion by the year 2050. In addition, increasing technological advancement and rising healthcare expenditure are creating lucrative opportunities for market growth. However, the high cost of cardiac patch monitoring and the risk associated with cybersecurity vulnerabilities stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cardiac Patch Monitor Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to increasing disease prevalence and rising technological advancement activities and rising research and development activities. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric and increasing prevalence of diseases, an increase in the number of collaborations and partnerships for product development, and geographic expansion of key players in the market space.

Major market players included in this report are:
Baxter International Inc.
Hemodynamics Co.
Mawi Inc
Zywie Inc.
KoninklijkePhilips N.V.
LifeSignals India Pvt Ltd
Cardiac Insight, Inc.
Vital Connect Inc
iRhythm Technologies, Inc.
SmartCardia Inc.

Recent Developments in the Market:
Ø In April 2023, Cardiac Insight, Inc. announced that it has signed a distribution contract with i.SigNal, Dreamtech’s exclusive brand, and group for digital healthcare. The deal gives i.SigNal master distribution rights for the Cardea SOLO single-use wearable ECG patch and proprietary analysis software system throughout 23 countries across the world
Ø In August 2022, In India, SmartCardia unveiled their 7L patch, a 7-lead cardiac monitoring patch. With the use of remote monitoring, this patch monitor’s wearable medical technology and AI may offer personalized and predicted patient insights.
Global Cardiac Patch Monitor Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Patch Recorde
Holter Monitors

By End User:
Homecare Settings

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Cardiac Patch Monitor Market, by Region, 2020-2030 (USD Million)
1.2.2. Cardiac Patch Monitor Market, by Product, 2020-2030 (USD Million)
1.2.3. Cardiac Patch Monitor Market, by End User, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cardiac Patch Monitor Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cardiac Patch Monitor Market Dynamics
3.1. Cardiac Patch Monitor Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing prevalence of chronic cardiac diseases Growing Geriatric Population
3.1.2. Market Challenges High Cost of Cardiac Patch Monitor Risk associated with cybersecurity vulnerabilities
3.1.3. Market Opportunities Technological advancement in cardiac patch monitors Rising healthcare expenditure
Chapter 4. Global Cardiac Patch Monitor Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Cardiac Patch Monitor Market, by Product
5.1. Market Snapshot
5.2. Global Cardiac Patch Monitor Market by Product, Performance – Potential Analysis
5.3. Global Cardiac Patch Monitor Market Estimates & Forecasts by Product 2020-2030 (USD Million)
5.4. Cardiac Patch Monitor Market, Sub Segment Analysis
5.4.1. Patch Recorde
5.4.2. Holter Monitors
Chapter 6. Global Cardiac Patch Monitor Market, by End User
6.1. Market Snapshot
6.2. Global Cardiac Patch Monitor Market by End User, Performance – Potential Analysis
6.3. Global Cardiac Patch Monitor Market Estimates & Forecasts by End User 2020-2030 (USD Million)
6.4. Cardiac Patch Monitor Market, Sub Segment Analysis
6.4.1. Hospitals
6.4.2. Homecare Settings
6.4.3. Others
Chapter 7. Global Cardiac Patch Monitor Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Cardiac Patch Monitor Market, Regional Market Snapshot
7.4. North America Cardiac Patch Monitor Market
7.4.1. U.S. Cardiac Patch Monitor Market Product breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Cardiac Patch Monitor Market
7.5. Europe Cardiac Patch Monitor Market Snapshot
7.5.1. U.K. Cardiac Patch Monitor Market
7.5.2. Germany Cardiac Patch Monitor Market
7.5.3. France Cardiac Patch Monitor Market
7.5.4. Spain Cardiac Patch Monitor Market
7.5.5. Italy Cardiac Patch Monitor Market
7.5.6. Rest of Europe Cardiac Patch Monitor Market
7.6. Asia-Pacific Cardiac Patch Monitor Market Snapshot
7.6.1. China Cardiac Patch Monitor Market
7.6.2. India Cardiac Patch Monitor Market
7.6.3. Japan Cardiac Patch Monitor Market
7.6.4. Australia Cardiac Patch Monitor Market
7.6.5. South Korea Cardiac Patch Monitor Market
7.6.6. Rest of Asia Pacific Cardiac Patch Monitor Market
7.7. Latin America Cardiac Patch Monitor Market Snapshot
7.7.1. Brazil Cardiac Patch Monitor Market
7.7.2. Mexico Cardiac Patch Monitor Market
7.8. Middle East & Africa Cardiac Patch Monitor Market
7.8.1. Saudi Arabia Cardiac Patch Monitor Market
7.8.2. South Africa Cardiac Patch Monitor Market
7.8.3. Rest of Middle East & Africa Cardiac Patch Monitor Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Baxter International Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Hemodynamics Co
8.3.3. Mawi Inc
8.3.4. Zywie Inc.
8.3.5. Koninklijke Philips N.V.
8.3.6. LifeSignals India Pvt Ltd
8.3.7. Cardiac Insight, Inc.
8.3.8. Vital Connect Inc
8.3.9. iRhythm Technologies, Inc.
8.3.10. SmartCardia Inc.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
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