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Cardiovascular Monitoring And Diagnostic Devices Market By Product Type (ECG Systems, Holter Monitors, Event Monitors, Implantable Loop Recorders, And ECG Management Systems) - Global Industry Perspective, Comprehensive Analysis And Forecast, 2021 – 2028

Published Date: 14-May-2021 Category: Medical Device Report Format : PDF Pages: 130 Report Code: ZMR-517 Status : Published

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.

Description

Market Overview

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.

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 increase in aging population are the factors catalyzing the cardiovascular monitoring and diagnostic devices market.

 

 

COVID-19 Impact Analysis:

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 higher level of complications. As such, the key market players are leaving no stone unturned in devising more number of cardiovascular monitoring and diagnostic devices.

Growth Factors:

The cardiovascular monitoring and diagnostic devices market is significantly driven by  growth in medical tourism and wellness program for cardio disease. Moreover, rise in geriatric population with weak heart condition is expected to propel the market growth. Besides, availability of proper medical treatment is anticipated to supplement the market development. From consumer perspective, increase in disposable income and high spending capacity under medical scenario proves crucial for market growth. On contrary, prolonged treatment and uncertainty in severe cases is somehow expected to hamper the market growth during the forecast period.

Report Scope:

Product Segment Analysis Preview:

On the basis of product type, cardiovascular monitoring, and diagnostic devices market is segmented into ECG systems, Holter monitors, event monitors, implantable loop recorders, ECG management systems. ECG Systems accounted for a significant share in 2020 and is expected to continue dominating in the coming years. Holter monitors is likely to attain a huge reception in the near future owing to advanced capability and use of innovative technology.

Regional Analysis Preview:

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, Sorin Group, among others. Moreover, the increasing usages of cardiovascular monitoring devices are expected to generate huge demand for the market in this region. China is world’s largest manufacturer and the consumer of healthcare devices owing it to the large population and technological feasibility.

Key Market Players & Competitive Landscape:

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

The Global Cardiovascular Monitoring and Diagnostic Devices Market is segmented as follows:

By Product:

  • ECG Systems
    • Resting ECG systems
    • Stress ECG systems
  • Holter Monitors
  • Event Monitors
  • Implantable Loop Recorders
  • ECG Management Systems

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 : Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 : Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.2. Market Attractiveness Analysis, By Product Type
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Cardiovascular Monitoring and Diagnostic Devices Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 : COVID- 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 : Cardiovascular Monitoring and Diagnostic Devices Market – Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product Type, 2020 & 2028
    • 4.2. ECG Systems
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Hulter Monitors
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Event Monitors
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2021 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Implantable Loop Recorders
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. ECG Management Systems
    • 4.6.1 Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 : Cardiovascular Monitoring and Diagnostic Devices Market – Regional Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. North America Market Revenue, By Product, 2016 – 2028
      • 5.2.3. U.S.
        • 5.2.3.1. U.S. Market Revenue, By Product, 2016 – 2028
      • 5.2.4. Canada
        • 5.2.4.1. Canada Market Revenue, By Product, 2016 – 2028
      • 5.2.5. Mexico
        • 5.2.5.1. Mexico Market Revenue, By Product, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 5.3.4. Germany
        • 5.3.4.1. Germany Market Revenue, By Product, 2016 – 2028
      • 5.3.5. France
        • 5.3.5.1. France Market Revenue, By Product, 2016 – 2028
      • 5.3.6. U.K.
        • 5.3.6.1. U.K. Market Revenue, By Product, 2016 – 2028
      • 5.3.7. Italy
        • 5.3.7.1. Italy Market Revenue, By Product, 2016 – 2028
      • 5.3.8. Spain
        • 5.3.8.1. Spain Market Revenue, By Product, 2016 – 2028
      • 5.3.9. Rest of Europe
        • 5.3.9.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1 Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
        • 5.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2028
        • 5.4.3. China
        • 5.4.3.1 China Market Revenue, By Product, 2016 – 2028
      • 5.4.4 Japan
        • 5.4.4.1. Japan Market Revenue, By Product, 2016 – 2028
      • 5.4.5. India
        • 5.4.5.1. India Market Revenue, By Product, 2016 – 2028
      • 5.4.6. South Korea
        • 5.4.6.1. South Korea Market Revenue, By Product, 2016 – 2028
      • 5.4.7. South-East Asia
        • 5.4.7.1. South-East Asia Market Revenue, By Product, 2016 – 2028
      • 5.4.8. Rest of Asia Pacific
        • 5.4.8.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Product, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Product, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Product, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.5. Rest of Middle-East Africa
        • 5.6.5.1. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2028
  • Chapter No. 6 : Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technulogy Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter No. 7 : Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Cardiovascular Monitoring and Diagnostic Devices Market: Company Market Share, 2019
      • 7.1.2. Global Cardiovascular Monitoring and Diagnostic Devices Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 7.1.3. Global Cardiovascular Monitoring and Diagnostic Devices Market, Company Y-o-Y Growth, 2016 – 2019 (%)
      • 7.1.4. Global Cardiovascular Monitoring and Diagnostic Devices Market: Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 8 : Company Profiles
    • 8.1. Boston Scientific Corporation
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Portfulio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Welch Allyn Inc
    • 8.3. FUKUDA DENSHI Co LTD
    • 8.4. Johnson & Johnson
    • 8.5. Medtronic Inc
    • 8.6. Philips Healthcare
    • 8.7. Siemens Healthcare
    • 8.8. Hullister Inc
  • Chapter No. 9: Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter No. 10 : Research Methodulogy
    • 10.1. Research Methodulogy
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Cardiovascular Monitoring and Diagnostic Devices market. Zion Research has collected and analyzed key data belong to the global Cardiovascular Monitoring and Diagnostic Devices market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Cardiovascular Monitoring and Diagnostic Devices across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Cardiovascular Monitoring and Diagnostic Devices industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Cardiovascular Monitoring and Diagnostic Devices market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Cardiovascular disease is a collective term for blood vessels and heart diseases including stroke, cardiomyopathy coronary heart disease, peripheral vascular disease, heart failure and congenital heart disease. Cardiovascular monitoring is continuous monitoring of heart activity by assessment of the patient’s condition by cardiac rhythm. Cardio vascular devices measure cardiovascular pressure & cardiac output and help in diagnosis & treatment of cardio vascular diseases. Continuous cardiovascular and pulmonary monitoring can help in accurate initiation of treatment & identification. Cardio vascular monitoring devices used to monitor blood temperature, electrocardiogram, noninvasive blood pressure, arterial blood oxygen saturation, intravascular pressures, and cardiac output. These cardio vascular monitoring devices are mainly used in critical areas and emergency rooms. Cardio vascular diagnosis tests include the echocardiogram, cardiac computerized tomography (CT) scan, blood tests, electrocardiogram, cardiac catheterization, and cardiac magnetic resonance imaging (MRI).

The cardiovascular monitoring and diagnostic devices market are expected to grow at the fastest rate with increasing medical tourism and rising education towards heart functioning. Medical tourism is growing sector and deals with the purpose of receiving medical treatment across international borders. The cardiovascular monitoring and diagnostic devices market have a strong hold on market and it is accelerated by rising cardiovascular diseases and unhealthy lifestyle. Moreover, the market for cardiovascular monitoring and diagnostic devices is propelled by rising consumption of smoking & alcohol. On another hand, the high cost of treatment and uncertainty in reimbursement may hamper the market growth of cardiovascular monitoring and diagnostic devices market. Nonetheless, untapped market and increasing investment by the manufacturer in the field of medical device manufacturing may generate new opportunities in coming years.

Cardiovascular-Monitoring-and-Diagnostic-Devices-Market

On the basis of product type, cardiovascular monitoring, and diagnostic devices market is segmented into ECG systems, Holter monitors, event monitors, implantable loop recorders, ECG management systems. Among all these segments, ECG systems dominated the monitoring and diagnostic devices market. ECG systems segment is further bifurcated into resting ECG systems and stress ECG systems. Resting ECG systems was leading sub-segment of ECG systems market and it is expected to remain dominant in coming years. Holter monitors segment is growing at the significant growth rate and it is expected to grow at CAGR of around 5.4% in the forecast period.

On the basis of region, cardiovascular monitoring and diagnostic devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2015, North America cardiovascular monitoring and diagnostic devices market was dominated and it is due to increase expenditure on research and development of cardiovascular diseases. Europe region was the second largest market for cardiovascular monitoring and diagnostic devices and it is projected to grow at significant growth rate as a result of increasing prevalence of cardiovascular diseases. Asia Pacific cardiovascular monitoring and diagnostic devices market is growing at a noticeable growth rate and this market is dominated by India and China. Increasing government initiatives has made the huge contribution for Indian cardiovascular monitoring and diagnostic devices market and thus this region will maintain its dominance in coming years followed by China.

Key participants operating in the cardiovascular monitoring and diagnostic devices market includes Boston Scientific Corporation, Welch Allyn, Inc., FUKUDA DENSHI Co., Ltd., GE Healthcare, Sorin Group, Johnson & Johnson, Medtronic, Inc, Nihon Kohden Corporation, Philips Healthcare, Siemens Healthcare, Spacelabs Healthcare, St. Jude Medical, Inc and Welch Allyn, Inc.


Frequently Asked 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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