ALBANY, New York, August 31, 2015 /PRNewswire/ --
A new Transparency Market Research report states that the global cardiovascular monitoring and diagnostic devices market stood at US$3.7 billion in 2012 and is predicted to reach a value of approximately US$7.0 billion in 2019, expanding at a CAGR of 9.7% between 2013 and 2019. The title of the report is "Cardiovascular Monitoring and Diagnostic Devices Market (ECG, Holter Monitors, Event Monitors, Cardiovascular Diagnostic Catheters, Implantable Loop Recorders, ECG Management Systems) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019".
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There are a large number of people being diagnosed with periphery artery diseases, coronary artery diseases, congenital heart diseases, and pulmonary conditions. Hence, the requirement for preventive healthcare is on the rise in countries with high incidence of these disorders.
This is why cardiovascular monitoring and diagnostic devices are being highly demanded in these countries. There are several factors stimulating the demand for cardiovascular monitoring and diagnostic devices, such as the risks related to hypertension, heart muscle weakening, and rise in diabetes and obesity. In addition, the rise in technologies that have enabled portability in performing and handling various tests will further stimulate the global market for cardiovascular monitoring and diagnostic devices.
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On the basis of type of products, the global cardiovascular monitoring and diagnostic devices market is segmented into ECG systems - which include stress ECG and resting ECG - event monitors, cardiovascular diagnostic catheters, Holter monitors, ECG management systems, and implantable loop recorders.
Amongst these, in 2012, ECG systems held the biggest share in the global market for cardiovascular monitoring and diagnostic devices owing to rising customer demand because of the convenience of the procedure. In addition, the reduced prices of ECG systems and convenience of using these systems for aging patients having an increased risk pertaining to congestive heart failure will also fuel their demand in the coming future. Implantable loop recorders are also anticipated to expand rapidly in the forecast horizon.
On the basis of geography, the global cardiovascular monitoring and diagnostic devices market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2012, North America led the market owing to increased patient awareness along with the availability of cutting-edge healthcare infrastructure.
Furthermore, the increasing adoption of advanced technology in North America has led to increased demand for advanced cardiovascular monitoring and diagnostic devices in this region. On the other hand, the Asia Pacific market is predicted to expand at an exponential CAGR due to a greater volume of unmet healthcare needs, rising healthcare expenditure, and rising patient population.
The players operating in this market experience high competition, owing to which many have produced advanced devices and technologies resulting in precise and convenient testing. GE Healthcare, Philips Healthcare, Boston Scientific Corporation, Siemens Healthcare, Nihon Kohden Corporation, St. Jude Medical, Inc. and Welch Allyn, Inc. are amongst the prime players in the market for cardiovascular monitoring and diagnostic devices.
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The global cardiovascular monitoring and diagnostic devices market is categorized into the following segments:
Cardiovascular Monitoring and Diagnostic Devices Market, by Product Type
- ECG Systems
- Stress ECG
- Resting ECG
- Cardiovascular Diagnostic Catheters
- Event Monitors
- Holter Monitors
- Implantable Loop Recorders
- ECG Management Systems
Cardiovascular Monitoring and Diagnostic Devices Market, by Geography
- North America
- Rest of the World (RoW)
Browse All Other Medical Market Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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