Heart Failure Diagnostic And Monitoring Device Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2022 and Forecast 2022-2028

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Heart Failure Diagnostic And Monitoring Device Market: By Product (ECG Systems, Holter Monitors, Event Monitors, and Implantable Loop Recorders), By Tests (Blood Tests, Chest X-Ray, Electrocardiogram (ECG), Echocardiogram, Stress Test, Cardiac Computerized Tomography (CT) Scan or Magnetic Resonance Imaging (MRI), Coronary Angiogram, and Myocardial Biopsy), and Geography

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Report

Description

Heart Failure Diagnostic And Monitoring Device Market size was valued at USD 2,519.7 million in 2021 and is poised to grow at a significant CAGR of 4.8% over 2022–2028. Heart failure, also known as congestive heart failure, is a condition that develops when the heart muscle is unable to pump blood effectively or when it results in other states, including high blood pressure, high cholesterol, blood vessel narrowing, and others. The diagnosis of heart failure can be made in several ways, including blood tests, chest x-rays, echocardiograms, and others. The incidence of heart failure is rising, as are other conditions like diabetes, atherosclerosis, stroke, hypertension, and others. The market is also growing due to sedentary lifestyle habits, technological advancements in cardiac heart failure treatment devices, and the number of older adults. However, several obstacles limit the market’s growth, including reimbursement concerns and the high cost of diagnosing appliances in emerging economies. Shortly, new emerging technology in cardiovascular treatment & diagnostics will create many chances in undiscovered areas. The future market expansion for ambulatory cardiac monitoring devices is being aided by the increasing demand for cutting-edge cardiac equipment, including Holter monitors, event monitors, implantable loop recorders, and mobile cardiac telemetry. The market for ambulatory cardiac monitoring devices is also driven by favorable reimbursement policies, increasing government and individual healthcare spending, and other essential factors. Key businesses implement different tactics to broaden product offerings and global geographic presence. Companies use various techniques to increase their market presence, including product portfolio growth, mergers and acquisitions, technological breakthroughs, and increased research and development. For instance, in August 2021, Advanced Medical Predictive Devices, (AMP3D), Diagnostics and Displays Inc.’s extensive library of clinical predictive algorithms and one-of-a-kind software-as-a-service (SaaS) platform were acquired by Nihon Kohden. In order to depict real-time and continuous risk trajectories, AMP3D’s CoMET software makes use of patient continuous monitoring data, vital signs, medical records, and laboratory test data.

Recent Market Developments:

In January 2021, Boston Scientific acquired Preventice Solutions, a remote cardiac monitoring product developer; it has been a partner and an investor for the later since 2015.

In February 2021, Remo Care Solutions introduced a new AI-based remote monitoring device for cardiac patients that analyzes the cardiovascular conditions of the patients in real time.

In December 2020, Philips acquired BioTelemetry, Inc. This will integrate the patient monitoring services of Philips with cardiac diagnostics and monitoring services of the BioTelemetry in hospitals.

Heart Failure Diagnostic And Monitoring Device Market

MARKET SUMMARY
-
4.8%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.8%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Heart Failure Diagnostic And Monitoring Device

  • The report on global heart failure diagnostic and monitoring device market gives historical, current and future market sizes (US$ Mn) on the product, tests, and geography.
  • The heart failure diagnostic and monitoring device market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • Abiomed Inc.
  • Berlin Heart GmbH
  • Biotronik SE and Co. KG
  • Boston Scientific Corporation
  • HeartWare International Inc.
Heart Failure Diagnostic And Monitoring Device Market Dynamics

Growing adherence to destructive lifestyles, such as rising nicotine and cigarette use, unhealthy food consumption, and increasing body mass index, contribute to the rise in heart failure cases and the growth of heart failure testing. The most frequent causes of the market expansion for heart failure monitoring devices are rising rates of disorders like diabetes and hypertension. Another reason anticipated to fuel the expansion of the heart failure diagnostic and monitoring device market is the rising prevalence of coronary artery disorders. The main factors influencing the market’s growth are the increasing obesity rate and the aging population. On the other hand, due to the hazards connected with this technology, the FDA has regulatory oversight over the market for heart failure monitoring and diagnostic devices.


North-America Got Significant Share

Heart Failure Diagnostic And Monitoring Device Market

The heart failure diagnostic and monitoring device market in North America is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly. According to The American Heart Association reports that over half of individuals in the US have some form of cardiovascular disease (CVD) and that there are currently an estimated 6 million adults who are experiencing heart failure, with the number expected to rise by 40% by 2035. By 2035, it is anticipated that more than 130 million adults in the United States, or 45.1% of the population, will have cardiovascular disease of some kind. Devices for remote cardiac monitoring may lead to better results by enabling accurate and early identification, reducing overall mortality, and reducing the need for hospital admissions. American cardiologists use these implantable or wearable technologies more frequently to offer remote healthcare diagnostics services and solutions.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The heart failure diagnostic and monitoring device market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Heart Failure Diagnostic And Monitoring Device Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The heart failure diagnostic and monitoring device market is projected to expand at a CAGR of 4.8% during the forecast period

Abbott Laboratories, Beckman Coulter, Abiomed Inc., Berlin Heart GmbH, Biotronik SE and Co. KG, Boston Scientific Corporation

North America is the fastest-growing region for heart failure diagnostic and monitoring device market


Report

Company Profile

  • Abbott Laboratories
  • Beckman Coulter
  • Abiomed Inc.
  • Berlin Heart GmbH
  • Biotronik SE and Co. KG
  • Boston Scientific Corporation
  • HeartWare International Inc.
  • Jarvik Heart Inc.
  • Medtronic plc
  • Jude Medical

Description

Heart Failure Diagnostic And Monitoring Device Market size was valued at USD 2,519.7 million in 2021 and is poised to grow at a significant CAGR of 4.8% over 2022–2028. Heart failure, also known as congestive heart failure, is a condition that develops when the heart muscle is unable to pump blood effectively or when it results in other states, including high blood pressure, high cholesterol, blood vessel narrowing, and others. The diagnosis of heart failure can be made in several ways, including blood tests, chest x-rays, echocardiograms, and others. The incidence of heart failure is rising, as are other conditions like diabetes, atherosclerosis, stroke, hypertension, and others. The market is also growing due to sedentary lifestyle habits, technological advancements in cardiac heart failure treatment devices, and the number of older adults. However, several obstacles limit the market’s growth, including reimbursement concerns and the high cost of diagnosing appliances in emerging economies. Shortly, new emerging technology in cardiovascular treatment & diagnostics will create many chances in undiscovered areas. The future market expansion for ambulatory cardiac monitoring devices is being aided by the increasing demand for cutting-edge cardiac equipment, including Holter monitors, event monitors, implantable loop recorders, and mobile cardiac telemetry. The market for ambulatory cardiac monitoring devices is also driven by favorable reimbursement policies, increasing government and individual healthcare spending, and other essential factors. Key businesses implement different tactics to broaden product offerings and global geographic presence. Companies use various techniques to increase their market presence, including product portfolio growth, mergers and acquisitions, technological breakthroughs, and increased research and development. For instance, in August 2021, Advanced Medical Predictive Devices, (AMP3D), Diagnostics and Displays Inc.’s extensive library of clinical predictive algorithms and one-of-a-kind software-as-a-service (SaaS) platform were acquired by Nihon Kohden. In order to depict real-time and continuous risk trajectories, AMP3D’s CoMET software makes use of patient continuous monitoring data, vital signs, medical records, and laboratory test data.

Recent Market Developments:

In January 2021, Boston Scientific acquired Preventice Solutions, a remote cardiac monitoring product developer; it has been a partner and an investor for the later since 2015.

In February 2021, Remo Care Solutions introduced a new AI-based remote monitoring device for cardiac patients that analyzes the cardiovascular conditions of the patients in real time.

In December 2020, Philips acquired BioTelemetry, Inc. This will integrate the patient monitoring services of Philips with cardiac diagnostics and monitoring services of the BioTelemetry in hospitals.

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