Cardiovascular Monitoring And Diagnostic Devices Market Size, Share, Growth Report 2030

Cardiovascular Monitoring And Diagnostic Devices Market: Overview

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.

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

Cardiovascular Monitoring And Diagnostic Devices Market: Growth Factors

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.

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Cardiovascular Monitoring And Diagnostic Devices Market Report Scope:

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.

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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, 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.

Cardiovascular Monitoring And Diagnostic Devices Market: Key Players & Competitive Landscape

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

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 The Middle East & Africa