Cardiovascular diseases are one of the major causes of mortality globally; they include coronary heart disease, stroke, heart failure, peripheral vascular disease, congenital heart disease, etc. People suffering from cardiovascular disease or at high risk of cardiovascular disease require early monitoring and diagnosis for the management and treatment of their diseases.
With advancements in technology, non-invasive cardiac monitoring and diagnostics play an important role in the management and treatment of cardiovascular diseases. This monitoring and diagnostic device helps in early diagnosis and provides precise and accurate information for treatment. The market for cardiac monitoring and diagnostics is expected to expand during the forecast period, owing to the early adoption of new diagnostic technology and government initiatives and awareness programs aimed at reducing the prevalence of CVD.
The report titled “Global Cardiac Monitoring and Diagnostic Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2024” offers strategic insights into the overall cardiac monitoring and diagnostic market, along with the market size and estimates for the duration of 2016 to 2024.
The research study in question provides an in-depth examination of multiple market segments based on product type and geographical region. The product type segment studied for analyzing the overall Cardiac Monitoring and Diagnostic market is majorly segmented into Electrocardiogram (ECG) Systems, Holter Monitor, Event Monitor, ECG Management System, Cardiovascular Diagnostic Catheters, Magnetic Resonance Imaging (MRI), Cardiac CT, Cardiac PET Scan, Doppler Fetal Monitor, Myocardial Perfusion Scans, Nuclear Imaging, and Intravascular Ultrasound.
In order to help strategic decision-makers, the report also includes sections on competitive profiling of the leading players in the cardiac monitoring and diagnostic market, pipeline analysis, attractive investment propositions, and market positioning of key manufacturers. Other in-depth analysis provided in the report includes:
Geographically, the global cardiac monitoring and diagnostic market are studied for the following regional markets:
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The market size and forecast for these regional and country-level markets are presented in this study for the period 2013–2024. Market growth rates for the forecast period 2016–2024 are also included in this report, considering 2015 as the base year.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for a better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges, and opportunities assists the readers in understanding the ongoing trends in the global cardiac monitoring and diagnostic market.
Tools such as key player market positioning and an appealing investment proposition provide readers with insights into the competitive landscape of the global cardiac monitoring and diagnostic market. This report concludes with a company profiles section that highlights major information about the key players engaged in the global cardiac monitoring and diagnostic market. In-depth competitive environment analysis and historical years (2013 and 2014) of market size data are also provided in the report.
Thus, the research study provides a holistic view of the global cardiac monitoring and diagnostic market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.
Based on the type of product, the global cardiac monitoring and diagnostic market are 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
ECG systems occupy a major share of the global cardiac monitoring and diagnostic market. ECG systems are further divided into resting ECG systems and stress systems. A resting ECG is a standard ECG that monitors the electrical activity of the heart when the patient is at rest. During exercise or any stressful activity, the ECG is monitored for stress. The ECG system is commonly used due to its convenient usage and affordability.
The ECG system is widely used in developed and developing countries. Holter monitors and event monitors have immense growth potential. Holter monitors are used as the first line of defense by physicians when a patient shows symptoms of cardiac irregularity. This monitoring system is non-invasive, safe, effective, and low-cost, which are driving factors for the market.
The next line of defense available is a compact and portable cardiac event monitor. It is used in patients with infrequent symptoms; it has an auto-capture feature where it records the activity when the patient is unaware and, with wireless technology, transmits data to a cellular network and shares it with hospitals or cardiologists. These enhanced features increase the adoption rate of the device and help it penetrate into home healthcare and point-of-care use. Implantable loops are anticipated to witness fast growth in the forecast period.
It was used to monitor patients who had seizures, dizziness, syncope, or recurrent palpitations. This device is used to diagnose and monitor the patient when symptoms are not captured in the 24- or 30-day monitoring period, giving ample opportunity to the physician to capture any abnormal activity. The rising awareness of the new monitoring and diagnostic technology has increased the adoption rate of the device and made it preferred over conventional diagnostics, which is a factor attributing to its growth in the market.
For the purpose of this study, global cardiac monitoring and diagnostic devices are categorized into:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
The global cardiac monitoring and diagnostic market are bifurcated into four regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East. The global cardiac monitoring and diagnostic market are dominated by the North American region, which occupies the major market share. The factors governing the major regional contribution of North America are a higher adoption rate for novel and advanced available treatment options, an increasing patient population, and a favorable reimbursement policy.
Further regulatory frameworks and government policies are well-defined and favorable for the growth of the medical device market. The next followed-up market is Europe, and factors contributing to its growth include the prevalence of cardiovascular diseases due to changes in lifestyle and the advancement of technology in cardiac diagnostic devices for better treatment options. Asia-Pacific is anticipated to be the next fastest-growing market.
Japan leads the market in Asia-Pacific, followed by China and Japan, both emerging economies. Emerging economies have the largest pool of geriatric population, and obesity, in addition to sedentary lifestyles and unhealthy eating habits, has increased the prevalence of coronary diseases, which is the driving factor for the cardiac diagnostic device. Medical tourism and the use of cutting-edge technology to treat patients at low cost are attracting patients from all over the world to developing economies, bolstering the growth of the cardiac monitoring and diagnostic market.