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Global Cardiovascular Monitoring and Diagnostic Devices Market growing at a CAGR of 5.0% from 2023 to 2031

Category : Medical Devices | Published Date : Oct 2023

Key Market Overview

Consegic Business Intelligence analyzes that the cardiovascular monitoring and diagnostic devices market is predicted to grow at a compound annual growth rate of 5.0% from 2023 to 2031 and is expected to reach USD 29,883.03 million in 2031 and 20,248.85 million in 2023 which was valued at USD 19,406.68 million in 2022.

The report highlights the increasing prevalence of cardiovascular diseases across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the cardiovascular monitoring and diagnostic devices market.

Global Cardiovascular Monitoring and Diagnostic Devices Market By Overview

Global Cardiovascular Monitoring and Diagnostic Devices Market

The cardiovascular monitoring and diagnostic devices market is bifurcated into the product and end user. Based on the product, the market is segmented into electrocardiogram (ECG) devices (resting ECG devices, stress ECG devices, and holter monitors), event monitors, blood pressure monitors, implantable loop recorders (ILRs), echocardiograms, and others. In 2022, the electrocardiogram (ECG) devices segment dominates the overall cardiovascular monitoring and diagnostic devices market. Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, homecare centers, research and academic institutes, and others. In 2022, the hospitals and clinics segment dominate the overall cardiovascular monitoring and diagnostic devices market.

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Market Dynamics

Driver:

 

  • The increasing prevalence of cardiovascular diseases
  • Growing demand for minimally invasive and non-invasive procedures

 

Restraints:

  • High cost of cardiovascular monitoring and diagnostics devices along with complex monitoring devices.

Market Segmentation:

Report Attributes Report Details
By Product Electrocardiogram (ECG) Devices (Resting ECG Devices, Stress ECG Devices, and Holter Monitors), Event Monitors, Blood Pressure Monitors, Implantable Loop Recorders (ILRs), Echocardiograms, and Others
By End User Hospitals and Clinics, Ambulatory Surgical Centers, Homecare Centers, Research and Academic Institutes, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Medtronic, Boston Scientific, Abbott Laboratories, and GE Healthcare, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the cardiovascular monitoring and diagnostic devices market is expected to witness substantial growth in the coming years due to increasing technological advancements in cardiovascular monitoring and diagnostic devices in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

  • Medtronic
  • Boston Scientific
  • Abbott Laboratories
  • GE Healthcare
  • Asahi Kasei Corporation
  • Omron Healthcare
  • Hill-Rom Holdings
  • Nihon Kohden
  • SCHILLER AG
  • ACS Diagnostics
  • Lepu Medical Technology
  • Baxter