The global cardiovascular monitoring and diagnostic devices market accounted for USD 1.99 Billion in 2020 and is expected to reach USD 3.99 Billion by 2028, expanding at a CAGR of 10.8% from 2021 to 2028.
The global cardiovascular monitoring and diagnostic devices market size accounted for USD 1.99 Billion in 2020 and is expected to reach USD 3.99 Billion by 2028, expanding at a CAGR of 10.8% from 2021 to 2028.
Cardiovascular diseases (CVDs) have been listed as the number one reason for fatalities across the globe, as per the WHO. It states that over 18 Mn people succumb to CVDs every single year and the status quo is not expected to change anytime in the near future. This factor certainly calls for cardiovascular monitoring and diagnostic devices. Apart from unhealthy dietary habits, obesity, and excessive use of tobacco, medical tourism and the increase in the aging population are the factors catalyzing the cardiovascular monitoring and diagnostic devices market.
With the outbreak of Covid-19 all across, the demand for cardiovascular monitoring and diagnostic devices has skyrocketed and the scenario is not expected to change anytime soon, as it has been proven that the ones suffering from chronic ailments are more at risk of contracting Corona and exposed to a higher level of complications. As such, the key market players are leaving no stone unturned in devising more cardiovascular monitoring and diagnostic devices.
The cardiovascular monitoring and diagnostic devices market is significantly driven by growth in medical tourism and wellness program for cardio disease. Moreover, the rise in the geriatric population with a weak heart conditions is expected to propel the market growth. Besides, the availability of proper medical treatment is anticipated to supplement the market development. From a consumer perspective, an increase in disposable income and high spending capacity under a medical scenario proves crucial for market growth. On the contrary, prolonged treatment and uncertainty in severe cases are somehow expected to hamper the market growth during the forecast period.
Report Attributes | Report Details |
---|---|
Report Name | Cardiovascular Monitoring And Diagnostic Devices Market Research Report |
Market Size in 2020 | USD 1.99 Billion |
Market Forecast in 2028 | USD 3.99 Billion |
Compound Annual Growth Rate | CAGR of 10.8% |
Number of Pages | 110 |
Forecast Units | Value (USD Billion), and Volume (Units) |
Key Companies Covered | Ecg Systems, Holter Monitors, Event Monitors, Implantable Loop Recorders, And Ecg Management Systems |
Segments Covered | By Product Type, By End-User And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
Base Year | 2021 |
Historical Year | 2016 to 2020 |
Forecast Year | 2022 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Product Segment Analysis Preview:
On the basis of product type, the cardiovascular monitoring, and diagnostic devices market is segmented into ECG systems, Holter monitors, event monitors, implantable loop recorders, and ECG management systems. ECG Systems accounted for a significant share in 2020 and is expected to continue dominating in the coming years. Holter monitors are likely to attain a huge reception in the near future owing to advanced capability and the use of innovative technology.
North America held a share of about 52.8% in 2020. This is attributable to the presence of top companies such as Boston Scientific, Johnson & Johnson, Medtronic Inc, Nihon Kohden, GE Healthcare, and Sorin Group, among others. Moreover, the increasing usage of cardiovascular monitoring devices is expected to generate huge demand for the market in this region. China is the world’s largest manufacturer and consumer of healthcare devices owing it to its large population and technological feasibility.
Some of the major companies operating in the global cardiovascular monitoring and diagnostic devices market are Boston Scientific Corporation, Welch Allyn Inc., FUKUDA DENSHI Co Ltd, GE Healthcare, Johnson & Johnson, Medtronic Inc., Philips Healthcare, Siemens Healthcare, Spacelabs Healthcare, St. Jude Medical Inc
By Product:
By Region:
FrequentlyAsked Questions
The global cardiovascular monitoring and diagnostic devices market was valued at USD 1.99 Billion in 2020.
The global cardiovascular monitoring and diagnostic devices market is expected to reach USD 3.99 Billion by 2028, expanding at a CAGR of 10.8% between 2021 to 2028.
Some of the key factors driving the global cardiovascular monitoring and diagnostic devices market growth include increase in medical tourism and wellness program for cardio disease.
North America held a substantial share of the cardiovascular monitoring and diagnostic devices market in 2020. This is attributable to the presence of top companies and rise in prevalence of cardiovascular diseases. China is world’s largest manufacturer and the consumer of cardiovascular monitoring and diagnostic devices owing to the large population.
Some of the major companies operating in global cardiovascular monitoring and diagnostic devices market are Boston Scientific Corporation, Welch Allyn Inc., FUKUDA DENSHI Co Ltd, GE Healthcare, Johnson & Johnson, Medtronic Inc., Philips Healthcare, Siemens Healthcare, Spacelabs Healthcare, St. Jude Medical Inc.
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