The Asia-Pacific Cardiac Arrhythmia Monitoring Devices Market is expected to register a CAGR of nearly 4.5% during the forecast period. In most of the cardiac disorders, continuous cardiac monitoring is required. Although cardiac arrhythmia cannot be cured completely, 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, which is referred to as telecardiology.
Japan has the world’s fastest ageing population. According to the World Ageing 2019 report, estimates the number of the population who are above 65 years of age in Japan was 35.524 million (28%) in 2019 which is projected to reach 37.278 million (30.9%) in 2030. As the number of geriatric population is expected to increase in the coming years who are more prone to chronic diseases such as cardiovascular diseases which ultimately rises the growth of the market as this group population need monitoring of the heart which ultimately increases the use of monitoring devices in near future.
The rising incidence of heart diseases in Asia-Pacific is also influencing the healthcare service providers to implement advanced telehealth services. Hence, the increasing usage of telecardiology is expected to drive the market studied in the future.
Key Market Trends
Holter Monitoring Devices Segment is Expected to Dominate the Asia-Pacific Cardiac Arrhythmia Monitoring Devices Market
Holter monitoring devices are found dominating the market as these devices can be used for longer durations for diagnosing sporadic symptoms in suffering patients. They also offer faster and convenient monitoring to increase patient compliance and is also likely to enhance treatment outcome. Furthermore, there are several advancements taking place in the cardiac arrhythmia monitoring devices market and these advances are rapidly increasing, which in turn, is driving the cardiac arrhythmia monitoring devices market.
As per United Nations Population Fund (UNFPA) 2017 report, estimates that in India, by 2050 the number of heart disease cases in senior citizens is projected to be about 19.1 million which is expected to increase the use of cardiac monitoring devices which shows a positive impact on the market in coming years.
Hence, as the number of heart diseases is expected to increase in the near future, the prevalence of cardiac arrhythmia is also expected to increase. This will increase the demand for Holter monitoring devices, which will positively impact market growth.
The Asia-Pacific Cardiac Arrhythmia Monitoring Devices Market is consolidated competitive with few major players. Market players with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness which has also helped the market grow.
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