This report on the Cardiovascular Monitoring and Diagnostic Devices Market studies key trends to forecast the performance for the coming years from 2022-2032. For the study, the historical years considered are 2023 and 2032, the base year is 2022, and 2023-2032 is the forecast period. This report gives readers an extensive idea about the share, size, trends, and growth of the industry in the current and following years. The research gives forecast trends deduced by evaluating the historical data studied in the report.
Cardiovascular Monitoring and Diagnostic Devices Market: Introduction
Cardiovascular or heart-related diseases have caused an unprecedented rise in the number of deaths per annum. This could be due to the unhealthy lifestyle, excessive smoking habits, and degradation of the quality of air globally over the years. The WHO (World Health Organization) declared in an article that in 2015 CVD’s (Cardiovascular diseases) claimed more than 17.7 million, and the count-per-annum has grown ever since. Simultaneously, the demand for devices in the Cardiovascular Monitoring and Diagnostic Devices Market has shot up. The expected CAGR until the year 2032 is 6.5% as per the report.
Cardiovascular Monitoring and Diagnostic Devices Market: Dynamics
The market dynamics are affected by three aspects—firstly, keeping up with the advancement of technology related to this industry of cardiovascular monitoring and diagnostics; secondly, the effectiveness of the product for end-users; and lastly, maintaining the goodwill, or creating one in case of a start-up.
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Cardiovascular Monitoring and Diagnostic Devices Market: Regional Outlook
Presently, North America is the leading market share contributor to the Cardiovascular Monitoring and Diagnostic Devices Market. This is due to the high awareness of the citizens and relatively elevated spending capacity. There seems to be a lot of potential in countries in the Asia Pacific region as they are developing economies. With the rise in the real income of the people in this region, there will be more spending on health-related products.
Cardiovascular Monitoring and Diagnostic Devices Market: Competitive Landscape
Phillips Healthcare and GE Healthcare together hold close to half of the total market share of the Cardiovascular Monitoring and Diagnostic Devices sector across the world. That is the base reason for North America being the leading contributor to this industry in terms of market share.
- Verily is a U.S. based start-up, which collects data daily and uses it to compute the risks (related to heart diseases) that may be seen in patients.
- Circulite is a start-up that hails from the U.S. and deals in minimally-invasive micro-pumps that can treat chronic heart failures.
- In recent years the FDA approved a lot of devices as fit for use. A few of them are Rivacor HF-T, Rivacor DR-T. Rivacor VR-T, Actor DX, Actor CRT-Dx, etc
- ZOLL Medical signed an agreement to buy Cardiac Science Corporation to improve its stand in the automated external defibrillator section.
- Abbot industries invested close to 7% of their revenues in R&D in 2023, which may hamper their goodwill in the market until it comes up with positive results.
Cardiovascular Monitoring and Diagnostic Devices Market Segmentation
By Type (Revenue, USD Million; Volume in Tons, 2023–2032)
- Resting ECG System
- Stress ECG System
- Event Monitors
- Holter Monitors
- Implantable Loop Recorders
- ECG Management System
- The major six participants in the sector are:
- Medtronic (Ireland)
- Boston Scientific (US)
- Abbott Laboratories (US)
- GE Healthcare (US)
- Biotronik (Germany)
- Koninklijke Philips (Netherlands)
- Other companies in this industry:
- Asahi Kasei Corporation (Japan)
- MicroPort Scientific (China)
- Hill-Rom Holdings (US)
- Nihon Kohden (Japan)
- SCHILLER (Switzerland)
- BioTelemetry (US)
- BPL Medical Technologies (India)
- ACS Diagnostics (US)
- Shenzhen Mindray Bio-Medical Electronics (China)
- Lepu Medical Technology (China)
- Shree Pacetronix (India)
- OSYPKA (Germany)
- BTL (US)
- AliveCor (US)
- CardioComm Solutions (Canada)
- Agatsa Software (India)
- iRhythm Technologies (US)
- EPI Mobile Health Solutions (Singapore)
- Qardio (US)
By Region (Revenue, USD Million; Volume in Tons, 2023–2032)
- North America
- Asia Pacific
- South Korea
- New Zealand
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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