The latest market report published by Credence Research, Inc. “Global Cardiac Monitoring and Diagnostic Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast,2016-2024,” the Global Cardiac Monitoring and Diagnostic market was valued at USD1,748.7 Mn in 2015, and is expected to reach USD 3,101.2 Mn by 2024, expanding at a CAGR of 6.5% from 2016 to 2024.
Browse the full report Global Cardiac Monitoring and Diagnostic Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2024 report at http://www.credenceresearch.com/report/cardiac-monitoring-and-diagnostic-market
Cardiovascular is the most common chronic disease which is globally leading cause of mortality. The prevalence of cardiovascular is on rise due to sedentary life style, stress, unhealthy food habits. Besides, the increase in geriatric population adds up to patient pool of CVD. Thus, there is need to monitor and diagnose the disease at early stage to avoid further complication, this awareness among the patient and physician help in adapting new monitoring and diagnostic device. The new emerging non-invasive cardiovascular monitoring and diagnostic device aid in accurate and precise monitoring and early diagnosis of the disease, which is important in further management and treatment of CVD. Government initiative for early diagnosis and awareness program, preference of home health care services and long term care center augment the growth of the monitoring and diagnostic device market.
Cardiac Monitoring and Diagnostic are categorized by product type as Electrocardiogram (ECG) Systems, Holter Monitor, Event Monitor, Implantable Loop Recorder, ECG management System, Cardiovascular Diagnostic Catheters, Magnetic Resonance Imaging (MRI), Cardiac CT, Cardiac PET Scan, Doppler Fetal Monitor, Myocardial Perfusion Scans, Nuclear Imaging, Intravascular Ultrasound.ECG systems is the most commonly, thus contributing to major share of the global cardiac monitoring and diagnostic device market. The ECG system is widely used in developed and developing countries, since it’s convenient usage and affordability.
Based on the product type, the Global Cardiac Monitoring and Diagnostic drug market is segmented as follows:
- Electrocardiogram (ECG) Systems
- Resting ECG Systems
- Stress ECG Systems
- Holter Monitor
- Event Monitor
- Implantable Loop Recorder
- ECG management System
- Cardiovascular Diagnostic Catheters
- Magnetic Resonance Imaging (MRI)
- Cardiac CT
- Cardiac PET Scan
- Doppler Fetal Monitor
- Myocardial Perfusion Scans
- Nuclear Imaging
- Intravascular Ultrasound
As of the current market scenario, North America is the largest regional market for Cardiac Monitoring and Diagnostic market, followed by the Europe and Asia Pacific. North America dominates the regional market attributed to patient awareness programs, favorable reimbursement policy, state-of-art healthcare infrastructure which all favors acceptance of new diagnostic technology and further augment the growth of the medical device market. Asia-Pacific is fastest growing market in the forecast period, led by Japan and followed by emerging economies such as China and India. Emerging economies are attractive market due to pouring investment in healthcare infrastructure, medical tourism and rising patient pool of chronic disease. Thus developing economies are next booming market to address the unmet healthcare need and with fast adoption of new monitoring and diagnostic devices
Market Competition Assessment:
Key players in the global cardiac monitoring and diagnostic systems market are Abbott Vascular Inc., Cordis Corporation, Volcano Corporation, OSCOR, Inc., Boston Scientific, Cook Medical, Medtronic, GE Healthcare, Koninklijke Philips N.V., Terumo Medical Corporation, Hitachi Medical Systems America, Inc., BioMérieux, Johnson & Johnson, Danaher Corporation, Siemens Healthcare
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Key Market Movements:
- Increasing prevalence of chronic diseases such as cardiovascular diseases, diabetes etc., due to sedentary lifestyle and unhealthy food habits, urbanization.
- Investment in research and development for building new technology to detect and diagnose the disease at early stage
- Government initiative and awareness programs to address CVD
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