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Global Cardiovascular Devices Market $13.3 Billion by 2027

The global market for cardiovascular devices (monitoring and diagnostic products) to attain $13.3 billion by 2027, growing at a CAGR of 8.8% over the forecast period, driven by increasing prevalence and incidence of cardiovascular risk factors, and growing elderly population. 

  • Patients are becoming empowered to track and manage their own health, and health care is becoming more personalized through interventions tailored to individual patients.
Global Cardiovascular Devices Market

Cardiovascular disease remains the leading cause of death globally. Cardiovascular diseases (CVDs) consists of ischemic heart disease, stroke, heart failure, peripheral arterial disease, and a number of other cardiac and vascular conditions. Coronary heart disease is the most common type of heart disease.

  • According to the Centers for Disease Control and Prevention (CDC), heart disease is a leading cause of death for both men and women in the United States. Every year, about 805,000 Americans have a heart attack.
  • The United Nations University (UNU) estimates, the percentage of the world population above 65 years of age would increase from 7% in 2000 to 16% in 2050.
  • The World Health Organization (WHO) estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Of these deaths, 85% are due to heart attack and stroke.
    • Nearly 80% of global CVD deaths occur in low- and middle-income countries (LMIC), where CVD and risk factor burden are on the rise as a result of an ongoing epidemiological transition.

Overview of the phase III clinical trials for medical devices by coronary diseases completed during 2000-2018

The current trends in cardiovascular diagnostics include wearable and portable monitors, remote patient monitoring and telemetry technologies.

  • Advanced technology has increased diagnosis accuracy and speed. The use and complexity of cardiovascular diagnostic and monitoring devices is increasing.

Innovations in nano- and microelectromechanical systems and wireless communication have helped diagnostic devices become smaller, easily implantable, and more comfortable to wear.

  • The devices are smaller, easier to use, and more comfortable to wear, whereas the large, bulky electrocardiogram (ECG) devices have become pen-sized; cumbersome Holter devices with electrodes and wires have transformed into simple, disposable patches.
    • The  patients can wear a mobile cardiac telemetry (MCT) system with a small sensor and monitor.
      • Using a novel smartphone adapter, patients are now able to capture and transmit single-lead ECG data to their healthcare providers. 
  • Some devices can diagnose even the most difficult-to-detect arrhythmias (atrial fibrillation) for cryptogenic stroke patients.
  • Wearable cardiac monitors used for patients with frequent symptoms, whereas an insertable cardiac monitors used for infrequent symptoms or ongoing condition management. 
    • Companies are integrating event and Holter monitoring into a single device.
Cardiovascular Monitoring and Diagnostic Devices Market

The global cardiovascular monitoring and diagnostic devices market report provides market size ($million 2017 to 2027), market share, growth trends and forecast (CAGR%, 2021 to 2027). 

The global market for cardiovascular devices (monitoring and diagnostic products) segmented by product [ECG systems [resting ECG systems, stress ECG systems), cardiovascular diagnostic catheters, event monitors, Holter monitors, implantable loop recorders, ECG management systems), and geography.

  • Based on the products, the electrocardiogram (ECG) systems segment accounted for the largest share (more than 70%) of the total cardiovascular devices market, whereas the implantable loop recorders and Holter monitors segments are expected to witness fastest double-digit growth rate throughout the forecast period.
    • The ECG systems are the most commonly used diagnostic devices for major conditions such as arrhythmia, coronary artery disease, birth defect in heart, heart valve disorder, abnormal heart rate, myocarditis, heart attacks and enlargement of heart.
      • ECG systems are also safe, painless, cost-effective, highly efficient and are readily available in the market.
    • The resting ECG systems sub-segment to register largest revenue share, along with fastest growth rate during the coming years.
      • Rest ECG is particularly used to record the spreading and regression of electrical excitation in ventricles and auricles.
  • The implantable loop recorders are particularly used for diagnosing unexplained palpitations or syncope and for monitoring patients with atrial fibrillation and myocardial infarction and patients with certain genetic disorders.

The global cardiovascular devices (monitoring and diagnostic products) market research report is divided by geography (regional and country based) into North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Rest of EU), Asia Pacific (Japan, China, India, Rest of APAC), Latin America (Brazil, Mexico, Rest of LA) and Rest of the World.

  • Geographically, the North America region held the majority market share, owing to high patient awareness, favorable reimbursement policies, advanced healthcare infrastructure and rapid adoption of new technologies.
    • However, the Asia Pacific region likely grow at a faster CAGR over the coming years, due to high prevalence and incidence of cardiovascular disorders, high unmet needs and improving healthcare facilities in the emerging countries.

The global cardiovascular monitoring and diagnostic devices market report also provides the detailed market landscape (market drivers, restraints, opportunities), market attractiveness analysis and profiles of major competitors in the global market including company overview, financial snapshot, key products, technologies and services offered, and recent developments.

Major competitors operating in the global market for cardiovascular devices (monitoring and diagnostic products) and included in this report are Abbott Laboratories, Inc., Boston Scientific Corporation, FUKUDA DENSHI Co., Ltd., GE Healthcare, Johnson & Johnson, Medtronic plc (Covidien plc), Nihon Kohden Corporation, Philips Healthcare, Siemens Healthineers AG, Sorin Group, Spacelabs Healthcare, and Welch Allyn, Inc. (Hill-Rom Services, Inc.).

  • Product
    • ECG Systems
      • Resting ECG Systems
      • Stress ECG Systems
    • Cardiovascular Diagnostic Catheters
    • Event Monitors
    • Holter Monitors
    • Implantable Loop Recorders
    • ECG Management Systems
  • Geography (Region, Country)
    • North America (U.S., Canada)
    • Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
    • Asia Pacific (Japan, China, India, Rest of APAC)
    • Latin America (Brazil, Mexico, Rest of LA)
    • Rest of the World
  • Company Profiles
    • Abbott Laboratories, Inc.
    • Boston Scientific Corporation
    • FUKUDA DENSHI Co., Ltd.
    • GE Healthcare
    • Johnson & Johnson
    • Medtronic plc (Covidien plc)
    • Nihon Kohden Corporation
    • Philips Healthcare
    • Siemens Healthineers AG
    • Sorin Group
    • Spacelabs Healthcare
    • Welch Allyn, Inc. (Hill-Rom Services, Inc.)

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