According to the report “North America Cardiovascular Monitoring and Diagnostic Devices Market,” published by Market Data Forecast, the market is projected to reach USD 931.54 million by 2021, at a CAGR of 6.1% from 2016 to 2021.Cardiovascular disease is a medical condition which affects the structure and function of organs associated with function of heart and its circulation. Cardio Vascular diseases are the primary cause of death and witnessing a high rise in prevalence. There are a large number of people being diagnosed with cardiovascular diseases such as periphery artery diseases, coronary artery diseases, congenital heart diseases, and pulmonary conditions shifting focus towards preventative healthcare.
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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North America Cardiovascular Monitoring and Diagnostic Devices Market: Drivers & Restraints
North America market for cardiovascular devices is majorly driven factors such as increasing number of people suffering from diabetes and obesity and growing risks related to hypertension, heart muscle weakening. Advancements in Technology have enabled portability features such as portability in performing various tests are also adding to the growth of Cardiovascular Monitoring market. However unclear reimbursement policies, stringent government regulations for product approvals and high cost of devices are some the major factors restraining the market growth.
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North America Cardiovascular Monitoring and Diagnostic Devices Market: Segmentation
By Product Type
- ECG Systems
- Resting ECG Systems
- Stress ECG Systems
- Event Monitors
- Holter Monitors
- Implantable Loop Recorders
- ECG Management Systems
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North America Cardiovascular Monitoring and Diagnostic Devices Market: Overview
ECG systems accounted for the largest share in the market and expected to maintain its strong hold in the market during the forecast period due to widespread availability and increasing preference for these devices in both developed and developing regions.
In addition, the reduced prices of ECG systems and convenience of using these systems for aging patients having an increased risk pertaining to congestive heart failure will also fuel their demand in the coming future. Implantable loop recorders are also anticipated to expand rapidly in the forecast horizon.
North America Cardiovascular Monitoring and Diagnostic Devices Market: Region-wise Outlook
On the basis of geography North America market for cardiovascular diagnostic and monitoring devices market is analysed under various regions namely United States and Canada. With in North America United States is the largest market for cardiovascular diagnostic and monitoring devices and is expected to sustain its strong share due to its high awareness about available diagnosis and treatment methods among patients and physicians.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Cardiovascular Monitoring and Diagnostic Devices Market outlook in North America?
- What trends are affecting the North America market?
- What is the competitive landscape and market share of major players in the Cardiovascular Monitoring and Diagnostic Devices space in North America?
- What are the key, high growth markets that Cardiovascular Monitoring and Diagnostic Devices manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Cardiovascular Monitoring and Diagnostic Devices currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Cardiovascular Monitoring and Diagnostic Devices?
- What are the challenges and barriers that have hindered widespread adoption of Cardiovascular Monitoring and Diagnostic Devices?
North America Cardiovascular Monitoring and Diagnostic Devices Market: Key Players
The North America Cardiovascular Diagnostic and monitoring market is dominated by two companies namely Phillips healthcare and GE healthcare accounting for an approximately 50% share in 2015. Other major players covered in the report are Siemens Healthcare, Boston Scientific Corporation, St. Jude Medical, Inc., Nihon Kohden Corporation, and Welch Allyn, Inc.
Reasons to buy North America Cardiovascular Monitoring and Diagnostic Devices Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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