Zion Market Research has published a new report titled “Cardiovascular Monitoring and Diagnostic Devices Market by Product Type (ECG systems, Holter Monitors, Event Monitors, Implantable loop recorders, and ECG Management Systems) – Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. The global cardiovascular monitoring and diagnostic devices market was valued at around USD 1.70 billion in 2015 and is expected to reach approximately USD 2.60 billion by 2021, growing at a CAGR of around 7.0% between 2016 and 2021.
Cardio Vascular Diseases or CVD is the world’s leading cause of death in men and women and these deaths are due to heart failure, congenital heart disease, peripheral vascular disease, cardiomyopathy, coronary heart disease and stroke. Cardio vascular monitoring devices help in identifying electrical and pressure waveforms of the cardiovascular system for the treatment and measurement of cardio vascular diseases. Nowadays, new emerging non-invasive cardiovascular monitoring technologies are playing very important role in treatment therapies of cardio vascular diseases. This long term non-invasive cardiovascular monitoring has important prognostic applications and provides accurate information for cardiovascular treatment and diagnosis. Cardio vascular diagnosis tests include cardiac catheterization, blood tests, cardiac magnetic resonance imaging (MRI), electrocardiogram, cardiac computerized tomography (CT) scan and echocardiogram.
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The cardiovascular monitoring and diagnostic devices market is propelled by increasing prevalence of cardiovascular diseases. Unhealthy lifestyle and increasing consumption of smoking & alcohol are mainly responsible for cardiovascular diseases. Rising geriatric & obese population is key driver for the growth of cardiovascular monitoring and diagnostic devices market. In addition, cardiovascular monitoring and diagnostic devices market is growing at lucrative growth rate due to new emerging technologies for the treatment and diagnosis of cardiovascular diseases. Moreover, the market of cardiovascular monitoring and diagnostic devices is accelerated by rising awareness towards healthy life and by increasing investment in medical device manufacturing by manufacturer. However, high cost of treatment and uncertainty in reimbursement may hamper the market growth of cardiovascular monitoring and diagnostic devices market. Nonetheless, untapped market and new emerging technologies of cardiovascular treatment & diagnostic generate new opportunities in forecast period.
Based on product type, the cardiovascular monitoring and diagnostic devices market has been segmented into ECG systems, holter monitors, event monitors, implantable loop recorders and ECG management systems. ECG system is further bifurcated into resting ECG systems, stress ECG systems. ECG system segment is dominating the market with more than 60% market share and it is expected to grow at CAGR of around 6% in the forecast period.
Based on the region, cardiovascular monitoring and diagnostic devices market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. With largest market share of around 40%, North America cardiovascular monitoring and diagnostic devices market is growing rapidly and it is expected to grow at CAGR of around 6% in the coming years. Europe is second largest market followed by Asia Pacific region for cardiovascular monitoring and diagnostic devices market. Europe is predicted to grow at healthy growth rate in forecast period with emerging advanced technologies in monitoring and diagnosis of cardiovascular diseases.
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Key participants operating in the cardiovascular monitoring and diagnostic devices market includes Boston Scientific Corporation, Welch Allyn, Inc., FUKUDA DENSHI Co., Ltd., GE Healthcare, Sorin Group, Johnson & Johnson, Medtronic, Inc, Nihon Kohden Corporation, Philips Healthcare, Siemens Healthcare, Spacelabs Healthcare, and St. Jude Medical, Inc.
Global Cardiovascular Monitoring and Diagnostic Devices Market: Product Type Analysis
- ECG systems
- Resting ECG systems
- Stress ECG systems
- Holter Monitors
- Event Monitors
- Implantable loop recorders
- ECG management systems
Global Cardiovascular Monitoring and Diagnostic Devices Market: Regional analysis
- North America
- Latin America
- Middle East and Africa
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