Heart attack diagnosis is associated with intensive care of patients battling with life threatening conditions, which requires sophisticated invasive monitoring devices and life support systems. Heart attack (myocardial infarction) occurs due to reduced or total cut off of oxygenated blood supply to the heart muscle. It is one of the major causes of death observed worldwide and needs to be diagnosed rapidly and accurately. According to Centers for Diseases Control and Prevention, about 735,000 Americans suffer from heart attack every year. Occurrence of heart attacks is increasing in adults as well as in geriatric population across the globe due to unhealthy lifestyle habits, high cholesterol levels, high BMI, and growth in tobacco and alcohol consumption. The demand for heart attack diagnostic devices has increased owing to rise in need for continuous monitoring of individuals, accessibility for patient, changing lifestyle, higher investments in R&D, and technological advancement. Further, various international organizations and government across the globe are creating awareness about monitoring devices among the population.
Several factors are responsible to propel the heart attack diagnostics market, but few factors are likely to continue to restrain the growth of the market in the near future such as the low Medicare reimbursements provided for the peripatetic cardiac outpatient telemetry electrocardiogram (ECG).
The heart attack diagnostics market can be segmented on the basis of test, end-user, and geography. In terms of test, the market can be divided into electrocardiogram (ECG), blood test, chest X-ray, echocardiogram, coronary catheterization (angiogram), exercise stress test, and magnetic resonance imaging (MRI). Among these, ECG has a wider application and contributes to tremendous growth of the market. End-user of this market includes hospitals, specialty clinics, and pathology among others.
In terms of geography, the heart attack diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of market revenue, North America is estimated to dominate the global heart attack diagnostics market owing to increased adoption of technologically advanced diagnostic equipment. The Asia Pacific market is projected to grow at a higher rate owing to high incidence of heart attacks and soaring death rates due to heart diseases.
The heart attack diagnostics market is highly fragmented due to involvement of many recognized as well as emerging players in this market. Key players involved in the heart attack diagnostics market include Abbott Laboratories, Beckman Coulter, Bio-Rad Laboratories Inc., Siemens Healthcare Diagnostics, GE Healthcare, Life Sign LLC, Hitachi Medical Systems, and Schiller AG.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.