Research Nester released a report titled “Cardiovascular Diagnostics Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global cardiovascular diagnostics market in terms of market segmentation by product type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for cardiovascular diagnostics is estimated to grow at a significant CAGR of about 9% during the forecast period, i.e., 2019-2027. The growth of the market is attributed to high prevalence of cardiovascular diseases, especially among the older population across the globe. According to the United Nations, people above the age of 65 outnumbered children below the age of 5 in 2018. Along with this, the number of people above the age of 80 are estimated to triple from 143 million in 2019 to 426 million in 2050. These factors are anticipated to significantly boost the growth of the cardiovascular diagnostics market across the world.
North America region is anticipated to hold largest market share of the global cardiovascular diagnostics market. This can be attributed to raise in expenditure on healthcare along with an increase in geriatric population in countries such as the U.S. and Canada. Technological advancements in this region resulting in development of improved techniques in medical industry is another factor leading to the growth of the cardiovascular diagnostics market. The growth in North America is closely followed by Europe, which is estimated to hold the second largest share of the market on account of increasing population and developments in healthcare sector in the region. The market in Asia-Pacific region is estimated to grow at the highest rate on the back of rising geriatric population and growing measures taken by the government in countries such as China and India to improve healthcare infrastructure.
Rising Geriatric Population To Boost Market Growth
Changes in the lifestyle among people along with increasing life expectancy rates are estimated to be the major factors responsible for the growth of cardiovascular diagnostics market. The growing number of heart related diseases, especially among the older people, is further anticipated to give rise to the demand for newer cardiovascular diagnostic techniques during the forecast period.
Overcoming The Barriers To the Growth of Cardiovascular Diagnostics Market
The shortage of skilled medical professionals with the ability to operate the devices and conduct various cardiovascular diagnostic tests is one of the major restraining factors affecting the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the global cardiovascular diagnostics market which includes company profiling of Abbott (ABT), GE Healthcare (GE), Koninklijke Philips (PHIA), Bayer AG (BAYN), bioMérieux, Inc. (BIM), Danaher (DHR), F. Hoffmann-La Roche (ROG), Siemens (SIE), Beckman Coulter (BEC), and Hitachi Medical Systems. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cardiovascular diagnostics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.