The Cardiovascular Diagnostics and Monitoring devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Cardiovascular Diagnostics and Monitoring devices Market is estimated to be $ 1754 million USD and predicted to rise to $ 2391 million USD with a CAGR of 6.4%. The market is segmented by product (Electrocardiograph Systems, Event Monitors, Holter Monitors, Implantable Loop Recorders, and ECG Management Systems). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Cardio Vascular diseases are the primary cause of death and witnessing a high rise in prevalence. Increasing risks related to hypertension, heart muscle weakening, increasing 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 Cardiovascular Monitoring market. However unclear reimbursement policies, strict government regulations for products and high cost of monitoring devices are some the major factors hindering the growth of the market
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.
North America is the largest market for cardiovascular diagnostic and monitoring devices market and is expected to maintain its strong share due to favorable reimbursement policies and wide spread knowledge 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 rising awareness about the effectiveness of accessible devices.
Global cardiovascular monitoring and diagnostic devices market is dominated by GE healthcare and Phillips healthcare accounting for a share of approximately 50%. Other major players covered in the report are Siemens Healthcare, Boston Scientific Corporation, St. Jude Medical, Inc., Nihon Kohden Corporation, and Welch Allyn, Inc.
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