The size of the Global Cardiovascular Monitoring and Diagnostic Devices Market Value was worth USD 2245.9 million in 2019 and estimated to be growing at a CAGR of 7.18%, to reach USD 3176.7 million by 2024.
Cardiovascular disease is a medical condition which affects the structure and function of organs associated with the function of the 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.
Increasing risks related to hypertension, heart muscle weakening, increasing the number of people suffering from diabetes and obesity are the major factors driving the market. Technological advancements have enabled additional features such as portability in performing various tests which are further adding to the growth of the Cardiovascular Monitoring market.
However unclear reimbursement policies, strict government regulations for products and the high cost of monitoring devices are some of the major factors hindering the growth of the market.
With the newly innovative developments for the diagnosing and treating of cardiovascular diseases, the cardiac monitoring and diagnostic devices market is growing at a lucrative rate of growth. In addition, the demand for cardiac monitoring and diagnostic products is powered by increased awareness of a healthy lifestyle. Growing expenditure in the manufacturing of medical devices is also one of the compelling reasons for the expansion of the global market for diagnostic devices and cardiovascular monitoring.
At the very same time, the untapped demand is creating new opportunities for the cardiac monitoring and diagnostic devices market throughout the coming period together with the latest rising technological developments in cardiovascular care and diagnostics.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
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Forecast Period |
2019 - 2024 |
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Segments Covered |
By Product & Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
GE Healthcare, Philips Healthcare, Siemens Healthcare, Boston Scientific Corporation, St. Jude Medical, Inc., Nihon Kohden Corporation, Welch Allyn, Inc., Spacelabs Healthcare, LivaNova PLC and Hill-Rom Holdings, Inc. |
This research report on the Global Cardiovascular Monitoring and Diagnostic Devices Market has been segmented and sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.
Cardiovascular Monitoring and Diagnostic Devices Market - By Product:
On the basis of product type, ECG systems accounted for the largest share in the market and expected to maintain its stronghold in the market during the forecast period due to widespread availability and increasing preference for these devices in both developed and developing regions.
Cardiovascular Monitoring and Diagnostic Devices Market - By Region:
North America is the largest market for cardiovascular diagnostic and monitoring devices market and is expected to sustain its strong share owing to its favorable reimbursement policies and high awareness about available diagnosis and treatment methods among patients and physicians.
Asia-Pacific is estimated to be the fastest-growing region during the forecast period due to raising awareness about the effectiveness of accessible devices in successfully curing several cardiovascular conditions and increasing healthcare spending.
In addition, developing and emerging economies like China and India are to provide lucrative opportunities for growth for the market players during the forecast period.
Recent Developments:
Top companies in the market
GE Healthcare and Phillips healthcare dominated the global Cardiovascular Monitoring and Diagnostic Devices Market accounting for an approximately 50% share.
Other major players covered in the report are
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 ECG Systems
5.1.1.1 Resting ECG Systems
5.1.1.2 Stress ECG Systems
5.1.2 Event Monitors
5.1.3 Holter Monitors
5.1.4 Implantable Loop Recorders
5.1.5 ECG Management Systems
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Philips Healthcare
8.3 Siemens Healthcare
8.4 Boston Scientific Corporation
8.5 St. Jude Medical, Inc
8.6 Nihon Kohden Corporation
8.7 Welch Allyn, Inc.
8.8 Spacelabs Healthcare
8.9 LivaNova PLC
8.10 Hill-Rom Holdings, Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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