Cardiovascular diseases have been the leading cause of death worldwide and will be the leading cause till 2030, according to World Health Organization (WHO). The major factors which increases the burden of this disease are lifestyle habits such as physical inactivity, smoking and unhealthy diet. These factors which result in obesity and hypertension are also identified as the underlying cause of cardiovascular disorders. The number of people diagnosed with coronary artery disease, peripheral artery disease, pulmonary embolism and congenital heart disease is rising rapidly worldwide. Therefore, the need for preventive healthcare has arisen and realized by countries with high burden of these disorders. Thus, the demand for cardiovascular monitoring and diagnostic devices is expected to rise in such countries.
Aging is one of the major factors driving the demand for cardiovascular monitoring and diagnostic devices. As the aging process advents, the risk of hypertension, weakening of heart muscles, obesity and diabetes grows, thus increasing the risk of cardiovascular diseases. Moreover, advent of new technologies enabling portability in handling and performing the test will drive the global cardiovascular monitoring and diagnostic devices market further. For example, technologies such as implantable loop recorders and wearable heart rate monitors would compel other players in the market to pace up with their product technologies, which will fuel the market growth.
Based on the product type, the global cardiovascular monitoring and diagnostic devices market is categorized into six segments namely ECG systems, cardiovascular diagnostic catheters, holter monitors, event monitors, implantable loop recorders and ECG management systems. Among these, ECG systems held the majority share of the global cardiovascular monitoring and diagnostic devices market in 2012, while the global market for implantable loop recorders is expected to grow at a faster pace during the forecast period. The ECG systems market is majorly dominated by the resting ECG systems owing to higher demand from customers due to convenience in the procedure. The demand for these systems will rise further owing to their lower price and rising demand from patients. Also, it is more convenient to be used among elderly patients and patients at high risk of congestive heart failure.
Get a Sample for this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2385
Geographically, the global cardiovascular monitoring and diagnostic devices market is categorized into four regions namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). North America dominated the global cardiovascular monitoring and diagnostic devices market in 2012 due to high patient awareness coupled with the presence of sophisticated healthcare infrastructure. Also, the adoption of new technologies is rapid in this region which results in high demand for advanced cardiovascular monitoring and diagnostic devices. Conversely, the Asia-Pacific region is expected to grow at a higher CAGR, owing to the high presence of unmet healthcare needs, high patient population and increasing healthcare expenditure.
The global cardiovascular monitoring and diagnostic devices market is characterized by the presence of few big players such as GE Healthcare, Philips Healthcare, Boston Scientific Corporation, Siemens Healthcare, Nihon Kohden Corporation, St. Jude Medical, Inc. and Welch Allyn, Inc. Competition is high among these players which compels them to seek for new technologies and devices providing accurate and convenient testing.
No comments:
Post a Comment