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Europe Arrythmia Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and End User

Europe Arrythmia Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Application, and End User

  • July 2021
  • 114 pages
  • ID: 6134267
  • Format: PDF
  • The Insight Partners


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The arrythmia monitoring devices market in Europe is expected to grow from US$ 1,739.79 million in 2021 to US$ 2,638.61 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.

Growth opportunities in developing nations is also bolstering the growth of the industry.The incidence of diseases associated with arrhythmia is rising due to the shift in lifestyle and the adoption of modern infrastructure.

The modernized facilities reduce physical activities of people; in contrast, stress levels are rising among them.Thus, these factors are exposing people to the risk factors of cardiovascular conditions.

Developing countries are highly focused on the progress and technological upgrading of their healthcare sectors and services. These conditions present significant opportunities to the arrhythmia monitoring devices market players to enter the regional market with cost-effective products, is among the other factors expected to positively influence the demand for arrythmia monitoring devices.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region.Spain, Italy, Germany, France, and the UK are among the most affected European countries.

As per the Worldometer, as of 23 June 2021, Spain, the UK, Italy, Germany, and France recorded 4,651,988; 4,254,294; 3,731,287; and 5,760,002, COVID-19 cases respectively, and the deaths toll is also high in these countries.The current coronavirus (COVID-19) outbreak has been declared by WHO as a public health emergency of international concern according to the International Health Regulation.

Also, the pandemic has halted the adoption of new medical device policy and delayed clinical trials and disrupted processes.Two consecutive waves of coronavirus had devastating impact on economic activities in the Europe.

Implementation of social distancing and lockdown policies led to closing of cardiac centers and patient visits for elective heart treatments. This factor negatively impacted the adoption of arrhythmia monitoring devices in the region. The European Commission recently postponed the application date of the MDR for one-year due to COVID-19 pandemic. The Medical Device Regulation (MDR) requires manufacturers to conduct Post Market Clinical Follow-Up (PMCF) studies to demonstrate the continued safety and performance of their devices. This is expected to impact the new product launches and ongoing clinical trials of medical devices, impacting sales and growth of the Europe arrhythmia monitoring devices market. In addition, disrupted supply chains, extended lockdowns, and cancelling of travel visits of sales personnel of companies have also negativity affected the growth of the arrhythmia monitoring devices market.

The holter monitors segment led the arrhythmia monitoring devices market based on type in 2020.The Holter monitor is a type of portable electrocardiogram (ECG).

It records the heart’s electrical activity continuously over 24 hours or longer.To evaluate the heart, the most used ECG is standard or resting ECG is one of the simplest and fastest tests.

To perform a test, accessories are used, such as electrodes, wires, and others.Electrodes like small, plastic patches that stick to the skin are placed on the chest and abdomen and are attached to an ECG machine by wires.

Holter monitor ECG is recommended by the doctor if patients were having symptoms of dizziness, fainting, low blood pressure, ongoing fatigue (tiredness), and palpitations. Holter monitor estimates chest pain that cannot be reproduced with exercise testing or to see how well a pacemaker is working. Along with the benefits offered, there are risk factors associated with Holter devices. Risk factors are difficulty to stuck electrodes to the patient’s skin, uncomfortable when the sticky electrodes and tape are taken off, and after exposure for a long time, it may cause tissue breakdown or skin irritation at the application site, which is ultimately drives the arrythmia monitoring devices market.

The overall Europe arrythmia monitoring devices market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe arrythmia monitoring devices market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europearrythmia monitoring devices market. Abbott; Koninklijke Philips N.V.; General Electric Company; Hill-Rom Holding Inc.; Medtronic; Biotronik, Inc.; AiveCor, Inc; Medicalgorithmics; and OSI Systems, Inc are among a few players operating in the Europe arrythmia monitoring devices market

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