Albany, New York (PRWEB) July 08, 2013
According to Transparency Market Research “Global Cardiovascular Monitoring & Diagnostic Devices Market (2011 – 2016)” global cardiovascular monitoring & diagnostic devices market is estimated to be USD 797 million in 2011 and expected to reach USD 1.3 billion in 2016 at a CAGR of 8.8% over the period 2010 to 2016. The ECG Monitoring Equipments segment is the leading market contributor with a share of around 51% in 2010.
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Cardiovascular Diseases (CVDs) are the largest cause of deaths globally, around 17.3 million people died from cardiovascular diseases in 2008. This amounts to 30% of all deaths. Of these deaths, an estimated 7.3 million were due to coronary heart disease and 6.2 million were due to stroke. Low- and middle-income countries are the largest affectedwith CVDs. An estimated 80% of CVD deaths take place in low- and middle-income countries. By 2030, almost 23.6 million people will die from CVDs, mainly from heart disease and stroke and are projected to be the single leading causes of death.
With the number of people suffering from cardiovascular diseases and the condition upswingsglobally, the demand for cardiovascular devices is growing.Around 30 million people are severely affected by cardiovascular diseases every year. A considerable market growth is provided in the stress testing systems and diagnostics all over the world by the emerging markets.
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The overall sales in 2009 was USD 34.9 billion as compared to the projected sale for 2010, estimated to be USD 36.2 billion at a compound annual growth rate of 3.6% in the global market for cardiovascular devices. There are two sub-segments accounting for the high demand—cardiac rhythm management and cardiovascular monitoring and diagnostic devices.
In 2009, the sales in diagnostic cardiovascular devices amounted to USD 11.1 billion, and in 2015, is estimated to reach USD 15.5 billion with a CAGR of 5.7% The U.S. represents the largest market in the worldwide cardiovascular disease market and Europe represents the second largest market, followed by Japan.The global Cardiovascular Monitoring and Diagnostic (CMD) devices marketis estimated to reach USD 1.3 billion in 2016, growing at a CAGR of 8.8% during 2010 – 2016.
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This market comprises of Electrocardiograph (ECG) monitoring equipment, ECG stress testing systems, Holter monitoring systems, ECG data monitoring systems, event monitoring systems, cardiovascular monitoring and diagnostic devices and cardiopulmonary stress testing systems. The largest segment growing at 10.7% over the period 2010 – 2016 and valued at USD 410.5 million in 2010 was the ECG monitoring equipment.
GE Healthcare, Philips Healthcare, Nihon Kohden, Cardiac Science Corp (now OptoCircuits) and Schiller AG are the leading companies in the global Cardiovascular Monitoring and Diagnostic devices market, with a combined share of more than 60%.
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Scope and Overview
The objective of the study on “Global Cardiovascular Monitoring & Diagnostic Devices Market” is to gain detailed market insights for cardiovascular monitoring & diagnostic devicesused to treat CVDs in developing economies where the reported CVD incidence is very high and also in developed economies where advanced technologies are being rapidly implemented. The market is analyzed on the basis of growth trends, ongoing developments, market penetration and revenue share.The report also covers the strategies followed by “Global Cardiovascular Monitoring & Diagnostic Devices Market” players.
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