Things You Need to Know about the Cardiovascular Disease Monitoring and Diagnostic Devices Market

According to the Centers for Disease Control and Prevention, heart disease is responsible for 1 in every 4 deaths in the United States. As disease prevalence increases - largely because of lifestyle risk factors - cardiovascular diagnostic and monitoring devices are in greater demand. Traditional methods of cardiovascular disease diagnosis mainly relies on bulky electrocardiogram (ECG) devices or cumbersome Holter devices with electrodes & wires. However, more portable, accurate, and convenient cardiovascular disease monitoring and diagnostic tools are becoming more available as new innovations are being released. The most popular devices that are available on the market today include wearables, portable monitors, remote patient monitoring and telemetry.


Global Market Overview


According to the report from Reporterlinker.com (Sep, 2020), the global cardiovascular disease monitoring and diagnostic devices industry was estimated at $2 billion USD at the end of 2020. Furthermore, the global market is projected to be growing at a CAGR of 6.1% over the period 2020-2027. By 2027, the global market size is approaching $3.3 billion USD.


U.S. and China Market

More specifically, the U.S. market was valued at $592.1 million USD in 2020, while the Chinese market was estimated to grow at a CAGR of 9.3% and reach $706.9 million USD by the end of 2027.


Major Device Categories


ECG/EKG Device

Cardiac monitoring of patients takes place at each step of patient management, from disease detection to diagnosis, to cathlab procedures or open-heart surgery, and to recovery. Electrocardiograms (ECG or EKG) record electrical activity as graphs or series of wave lines. The device allows users to monitor the patient’s cardiac functioning through a screen while obtaining hard copy result through a printer. Right now, ECG machines are used both in hospitals and at home. The price of a standard quality base model ECG/EKG machine ranges from $1500 to $4500 while ECG machines that are better suited for smaller spaces typically costs $1000 to $3000 (handheld ECG machines even cheaper – as low as $500).

Holtr Monitor

A Holter monitor is a portable EKG that continuously monitors the heart’s electrical activity that is typically used post-treatment. This kind of device usually has a battery life of 24 to 72 hours per charge and can continuously measure and record the heart’s activity during that period. Traditional Holter monitors are as the size of a camera, weight around 1 pound, and have many silver dollar-sized electrodes and wires. A Holter monitor typically costs around $300 with insurance, and around $1500 without.

Event Monitor (External Loop Recorders)

An event monitor is a portable device used to record the heart’s electrical activity when symptoms are shown. It records the same information as an electrocardiogram (ECG), but for a longer duration of time. These devices are able to send recorded information directly to the healthcare professionals, allowing real time analysis of the patients’ symptomatic heart activity even when on-the-go. Different from Holter monitors which record continuously and have battery life of only 24 to 72 hours, event monitors can monitor up to 30 days with data recorded during cardiac events only. Generally speaking, event monitors are more expensive than Holter monitors.

Implantable Loop Recorders

Implantable loop recorders require surgical procedure to be implanted in human body. Once implanted, they won’t be noticeable externally and offer vey extended continuous observation and recording of cardiac rhythm. They are more costly compared to Holter and event monitors.


According to Adroit Market Research (Dec, 2020), the global implantable loop recorders market is projected to grow at a CAGR of 9.4%. The Asia Pacific market, at the same time, due to rising awareness regarding implantable loop recorders and huge population base, revealed greatest growth potential amongst the world – recent forecast shows that the market will reach ~$450 million USD by 2028.


New Trending Devices

Innovations brings more convenient cardiac monitoring dev vices into the market. Some trending technologies include:

· Mobile cardiac telemetry

· Leadless and wireless ECG patch

· KardiaMobile

· Apple Watch


Conclusion

With rising cardiac disease prevalence and awareness, the Cardiovascular Disease Monitoring and Diagnostic Devices Market is definitely under the spotlight, drawing attention from not only patients, scientists, and healthcare professionals, but also investors. We here at Bridge Point Capital remain bullish on this sector.