The Cardiovascular Monitoring And Diagnostic Devices Market is estimated to be valued at US$ 2,955.1 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Cardiovascular Monitoring And Diagnostic Devices market comprises devices used to monitor heart rate, blood pressure, diagnose cardiovascular diseases such as coronary heart diseases, cardiomyopathy, heart attack and others. These devices provide real time monitoring of cardiovascular parameters to assess heart functioning and diagnose cardiovascular diseases. Devices such as ECG machines, event monitors, holter monitors, implantable loop recorder (ILR) and others help physicians to evaluate a patient’s cardiovascular status.
Market key trends:
The increasing incidence of cardiovascular diseases globally is the major factor augmenting the growth of cardiovascular monitoring and diagnostic devices market. According to World Health Organization (WHO), cardiovascular diseases account for over 17 million deaths annually, a number that is expected to grow to more than 23.6 million by 2030. Growing geriatric population is another factor fueling the market growth. Moreover, technological advancements in monitoring and diagnostic devices along with increasing preference for home healthcare are some other factors responsible for the growth of cardiovascular monitoring and diagnostic devices market. However, high costs and lack of skilled professionals are expected to restrain the market growth during the forecast period.
Porter's Analysis
Threat of new entrants: The cardiovascular monitoring and diagnostic devices market has fairly high barriers due to high product differentiation, patent protection, high capital costs for R&D and operations. However, threat remains low to moderate due to the promising prospects for growth in the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but differentiated products provide some pricing power to vendors.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and emergence of regional players.
Threat of new substitutes: Threat from new substitutes remains moderate due to technological innovation and changing consumer preferences leading to new product development.
Competitive rivalry: High due to presence of global and regional players competing on product innovation, features, and pricing.
SWOT Analysis
Strengths: Advanced technologies, rising demand for remote monitoring devices, growing aging population base.
Weaknesses: High cost of various devices, limited technical knowledge and skills.
Opportunities: Emerging markets, untapped rural markets, increasing healthcare spending.
Threats: Stringent regulatory policies, reimbursement issues, data security concerns.
Key Takeaways
The global cardiovascular monitoring and diagnostic devices market is expected to witness high growth, exhibiting CAGR of 10.% over the forecast period, due to increasing prevalence of cardiovascular diseases and growing geriatric population. North America currently dominates the market owing to the presence of major players, high awareness regarding early diagnosis and treatment of CVDs. Asia Pacific is expected to grow at fastest pace due to large patient pool, rapidly improving healthcare infrastructure and growing medical tourism.
Key players operating in the cardiovascular monitoring and diagnostic devices market are GE Healthcare, Philips Healthcare, Nihon Kohden, Schiller AG, Opto Circuits (India) Limited, Welch Allyn, Fukuda Denshi Co., Ltd, Lidco Group plc., Biotricity Inc., Bittium Corporation, VivaQuant. Regional players are also expanding their presence by adopting acquisition and partnership strategies.
An up to date business and commerce study conducted at the headquarters of Transparency Market Research (TMR) has detected that while the global cardiovascular monitoring and diagnostic devices market is showing great promise for the future, the vendor landscape is already highly competitive.
Devices that can monitor and diagnose the cardiovascular system makes for a market that is dynamic in nature, with strong emphasis on technological advancements.
For instance, Medtronic PLC offers Autolog Autotransfusion system, HMS plus hemostasis management system, and ACT plus automated coagulation timer system, which is used in cardiovascular and vascular surgeries and ECMO.
On the other hand, new entrants are also expected to make a mark in this market if they can match up to the technical expertise or harness the concept of wearables, although intellectual property rights and strict regulatory approach may act as a barrier for them.Request COVID Analysis on Cardiovascular Monitoring and Diagnostic Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=2385Global Cardiovascular Monitoring and Diagnostic Devices Market to be worth US$3,629.5 mn by 2025According 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.
Global Cardiovascular Disease Monitoring and Diagnostic Devices Market research and analysis report 2021 focus on rising market drift to assist businesses to find market opportunities and develop effective ways to optimize their market positions.
The report contains complete coverage, intensive analysis, and actionable Global Cardiovascular Disease Monitoring and Diagnostic Devices market insights to spot opportunities in existing and potential markets.
Cardiovascular Disease Monitoring and Diagnostic Devices Report can be used by both established as well as new entrants to live competitive positions in dynamic market situations.Additionally, Cardiovascular Disease Monitoring and Diagnostic Devices Market report provides analysis of changing market condition and keeps you ahead of competitors; it includes extremely useful information for the new and growing company to mark themselves over the market.
The Cardiovascular Disease Monitoring and Diagnostic Devices Market report is made up of an in-depth analysis of the current state of the global market trends and the factors that will be responsible for the progressive future, the report also provides a comprehensive analysis of the Cardiovascular Disease Monitoring and Diagnostic Devices market by types, applications, players and regions.Request a sample of the report at (Use Corporate email ID to Get Higher Priority): https://market.us/report/cardiovascular-disease-monitoring-and-diagnostic-devices-market/request-sample/Key trends examined for its prospective viewers with the Cardiovascular Disease Monitoring and Diagnostic Devices market report comprise major requirement drivers, restraints and key opportunities existing inside the business.
Particular high-level analysis of Cardiovascular Disease Monitoring and Diagnostic Devices market like value chain analysis, SWOT analysis, and current market attractive evaluation to cover most of the circumstances impacting this Cardiovascular Disease Monitoring and Diagnostic Devices market is additionally covered inside this report.
Portfolio analysis will help to know exactly the item combination of foremost businesses at the Cardiovascular Disease Monitoring and Diagnostic Devices trade.Key Stakeholders of Cardiovascular Disease Monitoring and Diagnostic Devices Market 2021 :Siemens, Bioanalytical Systems Inc, Ge Healthcare, Philips Healthcare, Mortara Instrument, Spacelabs Healthcare, Schiller AG, Welch Allyn, Mindray Medical International Limited, Compumed, Cardionet, GehealthcareThis report focuses on the Cardiovascular Disease Monitoring and Diagnostic Devices in the global market, especially in North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
TheBusinessResearchCompany published its Cardiovascular Monitoring And Diagnostic Devices And Equipment Global Market Report 2019 which provides strategists, marketers and senior management with the critical information they need to assess the global cardiovascular monitoring and diagnostic devices and equipment market.
The report covers the cardiovascular monitoring and diagnostic devices and equipment market’s segments- cardiopulmonary stress testing systems, ECG data management Systems, ECG monitoring equipment, ECG stress testing systems, event monitoring systems, holter monitoring systems, hospitals/physician clinic (continuous glucose monitors), home/emergency, research and development (clinical trials, universities, CRO).Explore Complete Report https://www.thebusinessresearchcompany.com/report/cardiovascular-monitoring-and-diagnostic-devices-and-equipment-global-market-reportCardiovascular Monitoring And Diagnostic Devices And Equipment Global Market Report 2019 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It also compares the market’s historic and forecast growth.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Request to get the sample of this report https://www.thebusinessresearchcompany.com/sample.aspx?id=2423=smpCompanies in the cardiovascular monitoring and diagnostic devices and equipment market are developing implantable cardiac monitors (ICMs) to monitor heart rhythm.
