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 the hospital for extremely long durations nor its practical to ask a patient to visit the hospital every day (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.
Cardiovascular diseases are the major cause of deaths in South America, which has increased the need for the development of cardiac monitoring devices in the region. For instance, according to World Health Organization, non-communicable diseases (NCDs), including CVDs, are estimated to account for nearly three quarters (74%) of total adult deaths in Brazil and CVDs account for nearly a third (31%) of these deaths every year. 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.
Key Market Trends
Holter Monitoring Devices is Expected to Dominate the Market During the Forecasted period
Holter monitoring devices dominate 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 the 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.
According to Institute for Health Metrics and Evaluation in 2017, 22.3% of overall deaths are due to Ischemic heart disease and 17.5% is due to heart stroke in Brazil, as the mortality due to CVD increases, 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 majority of the cardiac arrhythmia monitoring devices are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, South America is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.
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