Cardiovascular Disease Diagnostics: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) February 23, 2011
Cardiovascular disease (CVD) continues to be the leading cause of mortality worldwide, despite the declining death rates over the past two decades. These diseases hold a significant influence on public health costs and the nations’ economies, besides affecting general public and their standard of living. CVD is more prevalent in the developed part of the world than the developing countries, though its incidence is growing in developing economies. According to WHO, cardiovascular diseases kill an estimated 17 million people each year the world over, although they are preventable and treatable. Most deaths would likely result from tobacco smoking, a known risk factor for death due to coronary heart disease or cerebrovascular disease. Contribution, nevertheless, would continue from other risk factors including LDL cholesterol, hypertension, diabetes, and obesity. The healthcare sector worldwide places utmost importance on quick and accurate identification of heart problems to avoid hospitalization and deaths. With the introduction of improved diagnostics, acute and chronic medications and surgical techniques, there has been a significant plunge in total cardiovascular disease mortality over the past few decades.
The US represents the single largest regional market worldwide, as stated by the new market research report on Cardiovascular Disease Diagnostics. Europe trails behind the US. However, market growth is expected to emanate mainly from the Asia-Pacific market, which is forecast to grow at a compounded annual growth rate of more than 9.0% during the analysis period. Segment-wise, In Vivo Diagnostics represent the largest as well as the fastest growing segment of the cardiovascular disease diagnostics market worldwide. Non-Invasive techniques such as electron beam computed tomography (EBT), magnetic resonance, computed tomography, ultrasound, stress ultrasound, and remote heart rate monitors are expected to replace highly expensive, invasive techniques such as the nuclear stress tests, X-ray angiography, and nuclear perfusion tests.
Growth in the CVD diagnostics market, would however be driven by In vitro diagnostics, backed by product innovations in the point-of-care and molecular testing. Worldwide in-vitro diagnostics is growing rapidly, driven by increasing patient awareness on disease management, as well as rising demand for point-of-care testing and other advanced technologies. Industrialized countries, including North America and Europe, remains the largest markets worldwide for IVD, while the emerging economies of China, Brazil, India, and Russia are expected to spearhead market growth, driven by federal plans to open clinics in rural areas and upgrade healthcare facilities. Improving healthcare infrastructure and growing income level in developing countries is further propelling market growth.
A significant trend in the CVD market, over the recent years, has been the growing popularity of Point-of-care testing market, which is being driven by rapid decentralization of healthcare. Testing is now taking place at homes, emergency care clinics, doctor's offices, outpatient and emergency rooms, instead of hospitals. Cardiac markers represent a booming segment of the POC testing market that finds emerging applications in hospitals, chest pain clinics or emergency departments. These markers enable efficient myocardial infarctions (MI) analysis with 100% sensitivity and 95% specificity. Such tests also provide appropriate and efficient treatment in critical periods or during emergency. Manufacturers are increasingly focusing on aspects such as ease of use, portability, clinical benefits, accuracy, and reliability of POC results to sustain market growth. However, reimbursement, regulatory compliance, and clinical acceptance are major concerns for market participants.
Major players profiled in the report include Abbott Diagnostics, Alere Inc., Beckman Coulter, Inc., Cholestech Corp., GE HealthCare, Nanogen Inc., Philips Medical Systems, Roche Diagnostics, Siemens Healthcare Diagnostics Inc., St Jude Medical Inc., among others.
The research report titled “Cardiovascular Disease Diagnostics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the cardiovascular disease diagnostics market, current market trends, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for cardiovascular disease diagnostics market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America, by the following market segments – In Vitro Diagnostics, and In Vivo Diagnostics. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Cardiovascular_Disease_Diagnostics_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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