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Global Cardiac Monitoring and Cardiac Rhythm Management Device Market, by Cardiac Device (Pacemaker and Others), by Cardiac Monitoring (Electrocardiogram), by CRM (Defibrillators and Others), by End-User (Hospitals and Others)–Global Forecast Till 2027Market HighlightsRising prevalence of cardiovascular diseases and the increasing number of unmet medical needs in undeveloped countries are leading to the growth of the cardiac monitoring and cardiac rhythm management device market.
Technical advancements in drug-eluting, MRI compatible pacemakers, and Holter monitors are some of the factors leading to the growth of this market.
The growth of the global cardiac monitoring device market is driven by the high prevalence of cardiovascular disorders worldwide.
However, factors such as stringent regulatory approval procedures, the high cost of cardiac devices, and lack of reimbursement policies in developing countries are hindering the growth of the market.Regional AnalysisThe market in the Americas is expected to dominate the global cardiac monitoring and cardiac rhythm management device market during the forecast period owing to the increasing prevalence of chronic kidney diseases along with the growing geriatric population and well-established healthcare sector in the region.
The European market is expected to be the second-largest due to government funding and support from the healthcare sector, coupled with increasing research and development.
Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological developments, an increasing number of advanced surgeries in emerging economies, and favorable government initiatives for healthcare facilities.