The rising prevalence of chronic disease and the increasing geriatric population are propelling the global market for cardiovascular monitoring and diagnostic devices. Government, research, and healthcare bodies are focusing on the treatment of various cardiovascular diseases. The increased interest and investments from these bodies are fueling the development in the treatments of these generic diseases. The increasing number of people suffering from diabetes and obesity, heart muscle weakening, and increasing risks related to hypertension are other factors driving the market. Technological advancements have provided the devices with portability in conducting tests, which is further adding benefits to the market growth.
The overall market for cardiovascular monitoring and diagnostic devices is witnessing considerable expansion across various product segments such as ECG Systems, Event Monitors, Holter Monitors, Implantable Loop Recorders, and ECG Management Systems. Of these, the ECG Systems segments is expected to dominate the overall market over the forthcoming years.
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Global Cardiovascular Monitoring and Diagnostic Devices Witness Most Promising Rise in Demand
The World Health Organization (WHO) has rated cardiovascular diseases (CVDs) as the number one cause of deaths across the world, claiming more than 17.7 million people in 2015 and the number is poised to increase consistently in the near future. Thankfully, collaboration of science and technology has led to the advent of devices that can efficiently monitor and diagnose the development of a disorder in the circulatory system including the heart and blood vessels.
And, as healthcare infrastructure improves across developed and emerging economies, the uptake of these devices is anticipated to accelerate. According to this business intelligence study, the demand in the global cardiovascular monitoring and diagnostic devices market will increment at an impressive CAGR of 6.5% during the forecast period of 2017 to 2024. The analyst of the report has estimated that there will be opportunities worth US$3,629.5 in the market for devices that can monitor and diagnose cardiovascular system across the world by the end of 2024, substantially more than its evaluated valuation of 2,329.7 mn as of 2017.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touch points. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
Key Players of Cardiovascular Monitoring and Diagnostic Devices Report:
Medtronic PLC, Boston Scientific Corporation, GE Healthcare, LivaNova PLC, Philips Healthcare, Siemens Healthcare, and St. Jude Medical, Inc. are a few leading companies of this market that have been profiled in this BI report on the cardiovascular monitoring and diagnostic devices market.
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