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Cardiac Diagnostic Testing Devices Market Global Trends, Market Share, Industry Size, Growth
Various parts of the modern day world are witnessing a significant rise in patients suffering from cardiovascular ailments due to various reasons like inclination towards sedentary lifestyle, smoking, alcohol consumption and stress. Also, patients prefer less invasive cardiovascular surgeries and treatments that broadly rely on accurate cardiac diagnostic tools. These are some primary causes of growing global cardiac diagnostic testing devices market. Minimal invasive cardiac interventional procedures and diagnostics are widely being reimbursed due to favourable governing policies and are acting as the prime factor boosting the adoption in the market.
The Global Cardiac Diagnostic Testing Devices Market was accounted for US$ 5,376.4 million revenues in 2017 and is expected to reach US$ 8,914.7 million by the end of 2026, reflecting a CAGR of 5.9%during the forecast period of 2019-2026.
The market will witness exponentially high growth in the cardiac diagnostic testing devices all through 2019-2026 as experts strongly believe the rapid growth momentum of the market to continue till 2026.
Besides primary causes, other factors like availability of user-friendly cardiac monitoring devices in abundance, rise in awareness towards home-based cardiac testing devices and services are expected to fuel the market growth during the forecast period.
The global cardiac diagnostic testing devices market is segmented by product type, end-users and region.
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Global Cardiac Diagnostic Testing Devices Market By Product Type
• Electrocardiogram (ECG)
• Transesophageal Echocardiogram (TEE)
• Cardiac catheterization
Electrocardiogram segment is poised to dominate the market, reflecting a CAGR of 5.4% during the forecast period.
Global Cardiac Diagnostic Testing Devices Market By End User
• Long Term Care Centres
• Diagnostic Laboratories
• Homecare settings
• Ambulatory Surgical Centres
• Cath Labs
• Emergency Medical Services
Hospitals end-user segment is expected to witness the highest growth during the forecast period.
Global Cardiac Diagnostic Testing Devices Market By Region
• North America
• Latin America
• Rest of the World
North America, Asia and Europe region to experience colossal growth during the forecast period.
North America and Europe were accounted for ~57.0% revenue in 2017. Favourable reimbursement policies, high susceptibility to chronic cardiac disorders, increasing number of cardiac interventional procedures, economical product pricing across North America, Asia and Europe particularly are fuelling the growth of cardiac diagnostic testing devices market. All these factors will continue to do so during the forecast period and Asia-Pacific is expected to strike a stronger CAGR.
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• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on global cardiac diagnostic testing devices market is segmented on the basis of product type, end-user, and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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