The cardiovascular monitoring and diagnostic (CMD) devices market will reach $1.2 billion in six years, growing at a compound annual growth rate of 5 percent from 2010 to 2017, based on a report by MarketResearch, titled “Cardiovascular Monitoring and Diagnostic Device – Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017."
The cardiovascular monitoring and diagnostic market includes electrocardiograph (ECG) monitoring equipment, Holter monitoring systems, ECG stress testing systems, event monitoring systems, ECG data monitoring systems, cardiopulmonary stress testing systems, cardiovascular monitoring and diagnostic devices, according to the company.
The ECG monitoring equipment market is expected to grow at 4 percent over the period of 2010 to 2017, which was valued at $410.5 million in 2010.
A contributor to the growth, the research firm noted, is a predicted increase in patients with cardiovascular disorders, such as cardiac arrhythmias, congestive heart failure and myocardial ischemia, as well as widespread use of ECG equipment as a diagnostic tool to measure abnormal heart events. Healthcare reform may give the market a boost as well, and in foreign countries, cardiovascular monitoring and diagnostic companies are noticing growth in those with rising income levels, healthcare access and funding.
Valued at $385.6 million in 2010, the U.S. market accounted for 44 percent of the global cardiovascular monitoring and diagnostic market that year. By 2017, Market Research predicts the U.S. market will reach $514.7 million. In China, Brazil and India, the cardiovascular monitoring and diagnostic device markets are projected to grow at rates of 8, 9 and 12 percent, respectively.