Global Cardiac Monitoring Market Size Analysis:
The global cardiac monitoring market is expected to grow at a CAGR of approximately 4.0% during the forecast period to reach USD 23.6 Billion by 2023. Cardiac monitoring devices are used to continuously track the heart condition of the patients suffering from severe cardiovascular diseases. Cardiovascular diseases (CVD) are the primary cause of deaths across the globe, and Coronary heart disease (CHD) of these CVDs accounts for almost 370,000 deaths every year around the world.
According to the statistics of the American Heart Association (AHA), cardiovascular diseases account for approximately 17.3 million mortality cases every year globally. It is expected that that death toll will increase to more than 24 million by 2030. The cardiac monitoring devices will help in the treatment of diseases like heart failure, atrial fibrillation, atrial flutter, symptoms of recent heart attack, coronary ischemia and lack of oxygen supply to cardiac muscles, effects of drugs, and certain genetic errors.
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The innovation of New Technologies in Global Cardiac Monitoring Market:
The increasing number of deceased patients due to heart-related ailments is the primary factor driving the global cardiac monitoring devices. Furthermore, the increasing geriatric population of the world, technological advances in the patient care, advent of medical devices, investments in the research and development to develop portable solutions, rise in the health care spending of the people, growing healthcare awareness among the public, increasing obesity and unhealthy lifestyles are also fuelling the market growth. On the flip side, the high prices of these monitoring devices and preference for drug treatments in developing regions are limiting the expansion of the market.
Global Cardiac Monitoring Market Geographical Analysis:
Based on geography, the global cardiac monitoring market is dominated by North America due to the increase in cardiovascular cases in the USA and Canada, a growing number of elderly population, rapid adoption of technology and better reimbursement policies. Nevertheless, the Asia Pacific region is expected to foresee rapid expansion in the market in the following years owing to the growing patient’s base with heart diseases and increasing investments in the healthcare.
Global Cardiac Monitoring Market Leading Players:
The leading providers of global cardiac monitoring market are Ge Healthcare, Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems, Medtronic, Cardiac Science Corporation, Mennen Medical, Schiller, Boston Scientific, and Applied Cardiac System.
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