Cardiac Monitoring & Cardiac Rhythm Management Devices Market Value Forecasted to 2027
The global Cardiac Monitoring & Cardiac Rhythm Management Devices Market will be worth USD 29.32 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing prevalence of cardiovascular diseases among the aging population. The increasing investments for the research and development of cardiac monitoring & cardiac rhythm management devices to enhance the efficiency of the devices are most likely to drive the growth of the market. The emergence of advanced minimally invasive technologies is expected to fuel the development of cardiac monitoring & cardiac rhythm management devices over the forecast period. Moreover, the growing preference of the patients towards wearable cardiac devices is anticipated to boost the demand for advanced cardiac devices.
The report bifurcates the Cardiac Monitoring & Cardiac Rhythm Management Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Key Highlights From The Report
In January 2020, SGS acquired Thomas J. Stephens & Associates, Inc., a nationally recognized clinical research organization that is serving the cosmetic and personal care industry. The acquisition is expected to expand the consumer & retail service portfolio of SGS in the clinical testing sector for cosmetic and personal care products in the USA.
The preclinical segment held the largest market share of 57.6% in 2019. Increasing investments in the R&D of the preclinical testing of medical devices is expected to drive the growth of the segment.
Microbiology & Sterility Testing are forecasted to grow with the fastest CAGR of 10.0% over the forecast period. Rising investments by the biotechnology and pharmaceutical industries on the testing services and increasing research are expected to drive the growth of the segment.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period. Increasing government initiatives on improving the healthcare infrastructure and availability of skilled labor at lower costs are driving the Medical Devices Testing Services market in the region.
Key participants include SGS S.A., Toxikon, Inc., Intertek Group plc, Pace Analytical Services, Charles River Laboratories International, Inc., American Preclinical Services LLC, North American Science Associates, Inc., Sterigenics International LLC, Eurofins, and WuXi AppTec Group, among others.
About Emergen Research
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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