PARIS –The U.S. market for remote cardiac monitoring devices and services is expected to reach $867 million in 2016, up 27 percent from $686 million in 2011, according to market research firm InMedica, a division of IHS iSuppli.
“Cardiovascular disease continues to be the world’s leading cause of death, and cardiac care is placing a major strain on healthcare providers,” stated Nicola Goatman, market analyst at IHS. “With limited physician resource to cover the ever-increasing number of cardiac patients, remote monitoring enables patients to be observed away from the hospital over longer periods of time, providing a much needed cost-saving initiative. Furthermore, remote detection’s early discovery of cardiac disease is vital for reducing costly acute care later down the line.”
U.S. market revenue for remote cardiac monitoring devices and services
In its latest report, titled “World Market for Diagnostic Cardiology Devices and Remote Cardiac Monitoring Services – 2013
”, InMedica explained that the U.S. market is being fueled by Medicare reimbursements that incentivize American health service providers to use remote cardiac monitoring devices.
InMedica noted that, in 2009, cardiac telemetry devices in the U.S. for the first time were recognized under their own medical billing codes for reimbursement by insurance companies and Medicare. Since then, the utilization of telemetry devices has increased in the U.S. And, with reimbursement only provided when devices are monitored 24/7, remote cardiac monitoring services is seen as a lucrative and competitive market, the market researcher concluded.
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