Press release
Cardiovascular Monitoring and Diagnostic Devices Market will Increment at an Impressive CAGR of 6.5% During the Forecast Period of 2017 to 2024
The rising prevalence of chronic disease and the increasing geriatric population are propelling the global market for cardiovascular monitoring and diagnostic devices. Government, research, and healthcare bodies are focusing on the treatment of various cardiovascular diseases. The increased interest and investments from these bodies are fueling the development in the treatments of these generic diseases. The increasing number of people suffering from diabetes and obesity, heart muscle weakening, and increasing risks related to hypertension are other factors driving the market. Technological advancements have provided the devices with portability in conducting tests, which is further adding benefits to the market growth.
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The overall market for cardiovascular monitoring and diagnostic devices is witnessing considerable expansion across various product segments such as ECG Systems, Event Monitors, Holter Monitors, Implantable Loop Recorders, and ECG Management Systems. Of these, the ECG Systems segments is expected to dominate the overall market over the forthcoming years.
The report on the cardiovascular monitoring and diagnostic devices market offers a detailed assessment of key factors influencing the market, such as opportunities, challenges, trends, restraints, and drivers. The research report also provides company profiles of prominent market players operating in the market.
Cardiovascular Monitoring and Diagnostic Devices Market: Trends and Opportunities
The rising number of deaths due to cardiovascular diseases is the key factor driving the market for cardiovascular monitoring and diagnostic devices. Various companies are utilizing the latest technologies and innovating products to improve their efficiency and effectively. Numerous medical institutes are initiating research and development programs, which could help the market transform over the forthcoming years. Furthermore, governments and not-profit organizations are starting awareness increasing programs, which is further anticipated to increase the adoption of highly advanced equipment among consumers.
It is expected that the rise in the geriatric population across the world will fuel the prevalence of cardiovascular diseases. The market is further anticipated to grow exponentially due to low cost of procedure and availability of reliable and affordable labor in the countries such as Turkey, India, China, and Indonesia. The growing consumptions of tobacco and alcohol, lack of physical activities, unhealthy food habits, and high level of stress are other factors leading to the risks of cardiovascular diseases. These factors ensure the healthy growth of the market for cardiovascular monitoring and diagnostic devices.
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Cardiovascular Monitoring and Diagnostic Devices Market: Geographical Analysis
Geographically, the global cardiovascular monitoring and diagnostic devices market can be segmented into Latin America, Asia Pacific, Europe, North America, and rest of the world. Among these, the North America market is anticipated to lead the global market due to factors such as advanced healthcare infrastructure, rising awareness among consumers pertaining the availability of treatment and diagnosis methods, and the favorable policies initiated by the governments in the region. The Europe segment is following North America and is close to North America in terms of revenue owing to high incidence of cardiovascular diseases within the region. The Middle East and Asia Pacific are most likely to present potential opportunities for the market to grow due to developing healthcare infrastructure and adoption of various varieties of cardiovascular monitoring and diagnostic devices.
Cardiovascular Monitoring and Diagnostic Devices Market: Company mentioned
The market study presents profiling of prominent players operating in the global cardiovascular monitoring and diagnostic devices market. Key players in this market include GE Healthcare, Philips Healthcare, Spacelabs Healthcare, St. Jude Medical Inc., and Siemens Healthcare.
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