United Kingdom Cardiac Monitoring Devices Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 7.42% from 2023 to 2033
• The United Kingdom Cardiac Monitoring Devices Market Size is Expected to Hold a Significant Share by 2033

The United Kingdom Cardiac Monitoring Devices Market is anticipated to hold a significant share by 2033, growing at a CAGR of 7.42% from 2023 to 2033. The growing prevalence of cardiovascular diseases, the rising need for home-based monitoring, government initiatives, and increasing healthcare expenditure are driving the growth of the cardiac monitoring devices market in the United Kingdom.     

Market Overview

Cardiac monitoring devices are devices that record a heart’s electrical activity and monitor the rhythm and rate of a heartbeat, allowing for the detection of medical conditions. In order to continuously monitor physiological characteristics like electrocardiograms (ECGs) and heart rate variability and detect abnormalities before escalating into serious health issues, cardiac monitoring devices are essential to these efforts. The increasing concerns about heart health with the 800,000 population of the UK suffering from heart failure and increasing emphasis on early detection and continuous monitoring surges the demand for cardiac monitoring devices. Further, the increased aging population in UK presents a significant challenge in managing cardiovascular health, as older individuals are more susceptible to cardiovascular conditions. As a result, there is an increasing need for cardiac monitoring devices to cater to this demographic's long-term healthcare needs. These devices improve public health outcomes by enabling proactive healthcare management, which reduces the incidence and severity of cardiovascular diseases. Remote monitoring is revolutionizing the way of care for cardiac patients, offering improved patient outcomes, real-time data insights, and a proactive approach to managing cardiac health.

Report Coverage

This research report categorizes the market for the UK cardiac monitoring devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the cardiac monitoring devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the cardiac monitoring devices market.

Driving Factors

The growing prevalence of cardiovascular diseases is driving the market. In addition, the UK has an aging population, and thus the incidence of cardiovascular disease patients is increasing. Further, changing lifestyles such as improper diet, sedentary lifestyle, and obesity are the major risk factors for developing cardiovascular diseases. Home-based monitoring devices reduce the burden on healthcare providers, and technological advancements have made home-based monitoring more accessible and affordable. Thus, the increasing need for home-based monitoring in the UK is also driving up the market growth.

Restraining Factors

High equipment costs of the device and a lack of awareness of cutting-edge cardiac monitoring devices are restraining the UK cardiac monitoring devices market.

Market Segmentation

The United Kingdom Cardiac Monitoring Devices Market share is classified into product type and end-user.

• The ECG monitors segment dominates the market with the largest market share in 2023.

The United Kingdom cardiac monitoring devices market is segmented by product type into ECG monitors, event recorder, implantable cardiac loop recorder, pacemaker, defibrillator, cardiac resynchronization therapy (CRT) devices, smart watches, and others. Among these, the ECG monitors segment dominates the market with the largest market share in 2023. ECG monitoring device is a small, handheld device that is used to record and monitor the electrical activity of the heart. The widespread application of ECG monitors in hospitals, clinics, and home settings is augmenting the market growth.

• The hospital segment dominated the market with a significant market share in 2023.

Based on the end-user, the United Kingdom cardiac monitoring devices market is divided into hospitals & clinics, home care settings, and others. Among these, the hospital segment dominated the market with a significant market share in 2023. Hospitals provide optimal care to patients suffering from cardiovascular diseases and ensure early diagnosis. The growing prevalence of cardiovascular diseases is driving the market demand in the hospital segment.    

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the UK cardiac monitoring devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medtronic
• Biotronik
• Philips Healthcare
• Boston Scientific Corporation
• Abbott Laboratories
• GE Healthcare
• Baxter (Hill-Rom Holdings, Inc.)
• Schiller Healthcare
• AliveCore
• Microlife
• Sorin Group
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2019, Abbott launched a new implantable heart monitor, dubbed Confirm Rx, for the detection of arrhythmias in the US and Europe.

Market Segment

This study forecasts revenue at United Kingdom, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the United Kingdom Cardiac Monitoring Devices Market based on the below-mentioned segments:

United Kingdom Cardiac Monitoring Devices Market, By Product Type

• ECG Monitors
• Event Recorder
• Implantable Cardiac Loop Recorder
• Pacemaker
• Defibrillator
• Cardiac Resynchronization Therapy (CRT) Devices
• Smart Watches
• Others

United Kingdom Cardiac Monitoring Devices Market, By End-User

• Hospitals & Clinics
• Home Care Settings
• Others