(PharmaNewsWire.Com, December 26, 2017 ) According to the report Asia Pacific Cardiovascular Diagnostic and Monitoring Devices market, published by Market Data Forecast, the Market was worth USD 298.18 million in 2016 and estimated to be growing at a CAGR of 7.5%, to reach USD 428 million by 2021. 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 witnessing a high rise in prevalence. There are a large number of people being diagnosed with cardiovascular diseases such as periphery artery diseases, coronary artery diseases, congenital heart diseases, and pulmonary conditions shifting focus towards preventative healthcare.
Asia-Pacific market for cardiovascular monitoring 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 which enabled portability features in performing various tests are further boosting the growth of Cardiovascular Monitoring devices market. However unclear reimbursement policies, economic instability, strict government regulations for product approvals and high cost of monitoring devices are some of the major restraining factors for the market growth.
Asia-Pacific cardiovascular monitoring devices market is analysed on the basis of product which is 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 during the forecast period due to increasing preference for these devices.
On the basis of geography Asia-Pacific market for cardiovascular diagnostic and monitoring devices market is segmented into various regions namely China, India, Japan and South Korea. Asia-Pacific is estimated to be the fastest growing region due to rising awareness about the effectiveness of accessible devices in successfully curing several cardio vascular conditions and increasing healthcare spending.
Asia-Pacific Cardiovascular monitoring devices market is dominated by GE healthcare and Phillips dominated the global Cardiovascular Monitoring and Diagnostic Devices Market accounting for a approximately 50% share. Other major companies 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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