(PharmaNewsWire.Com, August 28, 2017 ) According to the report Latin America Cardiovascular Diagnostic and Monitoring Devices market, published by Market Data Forecast, the Market was worth USD 210.48 million in 2016 and estimated to reach USD 288.38 million by 2021 growing at a CAGR of 6.5%. Cardiovascular disease is a medical condition which affects the structure and function of organs associated with function of heart and its circulation. Cardio Vascular diseases are the major cause of death and are witnessing a high rise in prevalence. Across the globe there are a large number of people being diagnosed with cardiovascular diseases due to shifting focus towards preventative healthcare.
Latin America market for cardiovascular monitoring devices is driven by factors such as increasing risks related to hypertension and heart muscle weakening; growing number of people suffering from diabetes and obesity. Advancements in Technology have brought into light about the portability devices which have made it easier for performing various tests which are adding to the growth of Cardiovascular Monitoring market. However unclear reimbursement policies, strict government regulations for products and high cost of monitoring devices are some the major factors restraining the market growth.
Latin America market for cardiovascular diagnostic and monitoring devices is analysed on the basis of product which is further segmented into ECG systems, Holter Monitors, Event Monitors, Implantable loop recorders and ECG management systems. Electrocardiographs segment is further sub segmented into Resting ECG systems and Stress ECG systems. ECG systems is the largest product segment in the market and expected to maintain its strong hold in the market during the forecast period due to increasing preference for these devices in both developed and developing regions.
On the basis of geography Latin America market for cardiovascular diagnostic and monitoring devices market is analysed under various regions namely Brazil, Mexico and Argentina. GE healthcare and Phillips healthcare dominated the global Cardiovascular Monitoring and Diagnostic Devices Market accounting for an approximately 50% share. Other major players covered in the report are Siemens Healthcare, Boston Scientific Corporation, St. Jude Medical, Inc., Nihon Kohden Corporation, and Welch Allyn, Inc.
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