According to a latest market study published by Transparency Market Research, the global cardiovascular monitoring and diagnostic devices market will reach a valuation of US$7.0 bn by 2019 increasing from US$3.7 bn in 2012. This will amount to a CAGR of 9.7% between 2013 and 2019. The report is titled, “Cardiovascular Monitoring and Diagnostic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” and is available for sale on the company website.
Browse the full Cardiovascular Monitoring and Diagnostic Devices Market (ECG, Holter Monitors, Event Monitors, Cardiovascular Diagnostic Catheters, Implantable Loop Recorders, ECG Management Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/crdiovascular-monitoring-diagnostic-devices.html
In recent years, across the world, a large population has been diagnosed with heart diseases such as peripheral artery diseases, congenital heart diseases, coronary artery diseases, and pulmonary conditions. These have been particularly observed to be prevalent in high numbers in countries that are enjoying the gains of recently acquired economic development. In these countries, in the bid to develop robust welfare programs, preventive healthcare programs are gaining traction. These include programs for heart diseases, diabetes, and obesity. Thus, cardiovascular monitoring and diagnostic devices are in high demand in these countries.
Generally, in all parts of the world, the demand for cardiovascular monitoring and diagnostic devices is rising so as to better understand the functioning of the heart in patients with hypertension, diabetes, and obesity. Early diagnosis helps to offset the risk of heart conditions for these patients to some extent. In addition, with technology advancing at an unprecedented pace, devices that can be transported over long distances are stimulating the demand for cardiovascular monitoring and diagnostic devices.
By product, ECG systems, cardiovascular diagnostic catheters, ECG management systems, event monitors, Holter monitors, and implantable loop recorders are the segments of the market. Of these, in 2012, ECG systems accounted for the largest share in the global market. The easy compatibility of cardiovascular monitoring devices with ECG systems is the reason for this. In addition, the plummeting prices of ECG systems and ease of use of these systems for aging patients who have an increased risk of congestive heart failure will fuel the adoption of these devices in the coming years.
On the basis of geography, North America, Europe, Asia Pacific, and Rest of the World are the segmnets of the global market. Amongst all, in 2012, North America dominated the overall market due to a high level of awareness among patients about the availability of cutting-edge healthcare services. Moreover, in North America, faster adoption of advanced technology generally in all walks of life is the reason for the dominance of the region in the global market for cardiovascular monitoring and diagnostic devices.
However, Asia Pacific will exhibit an exponential CAGR in the cardiovascular monitoring and diagnostic devices market due to a few important reasons; these include: consistent improvement in healthcare infrastructure to serve unmet healthcare needs, increasing patient pool, and awareness about preventive healthcare due to skyrocketing healthcare costs.
Top companies that operate in the global cardiovascular monitoring and diagnostic devices market are GE Healthcare, Boston Scientific Corporation, Nihon Kohden Corporation, Welch Allyn Inc., Philips Healthcare, Siemens Healthcare, and St. Jude Medical Inc.
The global cardiovascular monitoring and diagnostic devices market is categorized into the following segments:
Cardiovascular Monitoring and Diagnostic Devices Market, by Product Type
- Stress ECG
- Resting ECG
- Cardiovascular Diagnostic Catheters
- Event Monitors
- Holter Monitors
- Implantable Loop Recorders
- ECG Management Systems
Cardiovascular Monitoring and Diagnostic Devices Market, by Geography
- North America
- Rest of the World (RoW)
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