Albany, NY -- (SBWIRE) -- 04/24/2019 -- Cardiovascular Monitoring and Diagnostic Devices Market: Overview
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.
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.
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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.
Global Cardiovascular Monitoring and Diagnostic Devices Market to be worth US$3,629.5 mn by 2025
According to the projections of the TMR report, the opportunities in the global cardiovascular monitoring and diagnostic devices market will translate into a revenue of US$3,629.5 mn by the end of 2024, with the demand expanding at a notable CAGR of 6.5% during the forecast period of 2017 to 2024. The report has also evaluated that the market was worth US$2,329.7 mn as of 2017. Based on product type, the report segments the market for cardiovascular monitoring and diagnostic into ECG systems, event monitors, diagnostic catheters, holter monitors, ECG management systems, and implantable loop recorders. By the end of 2024, the ECG systems segment is estimated to be worth US$1,662.7 mn. Geographically, while North America is followed by Europe as the most lucrative regions, the demand from Asia Pacific is anticipated to expand at a much stronger CAGR during the forecast period of this report.
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Behavior-Inflicted Circulatory System Diseases Driving Demand
The strong prevalence of diseases pertaining to circulatory systems such as heart valve disease, heart failure, arrhythmia, and hypertension are the primary drivers of the market for devices that are used to diagnose the disease as well as those used for monitoring during the surgeries. Across the world, urban population is drifting toward ill-eating habits and using tobacco frequently, which will only expand the prevalence of CVD. The WHO has rated CVD as the number one cause of deaths in the world each year. Improving healthcare infrastructure in the urban parts of the emerging economies, consistently improving technologies, and government emphasis on providing robust care to their citizens are some of the other key factors that are expected to reflect positively on this market in the near future. On the other hand, high cost of these devices are hindering from them reaching a larger pool of patients.
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