Worldwide markets are poised to achieve significant growth as event recorders find ways to support lowering the cost of care delivery by supporting shorter hospital stays and more home based services.
New markets in clinical diagnoses and clinical studies are emerging as prices decrease and technology creates more advanced devices. Smart phones include the technology to implement a core device used for m-health implementations. Unit functions are being extended from direct arrhythmia symptom analysis to sleep studies and clinical drug efficacy studies creating significant growth opportunity.
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Early treatment is essential and the technology is a vital aid in providing that treatment. Hospitals and clinicians will have increased access to devices as insurers realize the value of detecting and treating cardiac disease early. Sleep studies and clinical drug efficacy study opportunities are creating significant growth opportunity.
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Consideration of Cardiac Event Recorder Market Forecasts indicates that markets at $197.8 million in 2012 will reach $862.7 million by 2018. Growth comes as more emphasis is put on early diagnosis and prevention of disease. Heart failure patients participating in home based programs get called back from nurse within 20 minutes of transmitting readings. This is similar to the response time available in a hospital and positions products in the large and growing telemedicine market space.
For a patient that has arrhythmia and a device detects symptoms, there is the ability to take life saving action. Quick response brings the matter to the attention of the clinician often without patient involvement, helping better serve the patient. Advice can be rendered as to how and why weight fluctuation is a issue and how control of disease is based on lifestyle and diet. Rapid weight gain can indicate fluid retention and a worsening of cardiac function.
This study illustrates the cardiac event recording market driving forces and provides the market shares and consideration of market size and number of recorders prescribed or used. It describes monitoring services used and services provided to subscribers, reimbursement by insurance carriers.
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