Innovations in Cardiovascular Monitoring and Diagnostic Devices Aimed at Curbing Cardiovascular Diseases Worldwide

On being one of the leading causes of mortality worldwide, the rising incidence of cardiovascular diseases has compelled governments and research organizations to increase their research and development spending. With an increasing number of companying foraying into the market with novel therapeutics and newer technologies of diagnosing cardiovascular diseases, the demand for cardiovascular monitoring and diagnostic devices is forecast to stoke higher. To boost research and development in the field, government bodies are granting more funds and are implementing healthcare schemes aimed at curbing the incidence of cardiovascular ailments. This coupled with, policies implemented to boost awareness regarding cardiovascular diseases are chief drivers of the global monitoring and diagnostic devices market. 

Spurred by these factors, the global market for cardiovascular monitoring and diagnostic devices is projected to report a CAGR of 6.4% between 2016 and 2024. As per Transparency Market Research (TMR), the market was valued at US$1.8 bn in 2015, and is expected to reach US$3.1 bn by the end of 2024. 

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Q: What factors supported electrocardiogram systems’ lead in the market based on product? 

A: Based on product, electrocardiogram (ECG) systems, event monitors, implantable loop recorders, Holter monitors, and ECG management systems constitute the key segments in the global cardiovascular monitoring and diagnostic devices market. Of these, ECG systems emerged dominant on account of their wide presence across emerging nations and developed markets alike. As patients continue preferring ECG systems for accurate diagnosis, the demand for ECG systems is expected to remain high even in the coming years. TMR has forecast the ECG systems segment to report 6.3% CAGR between 2016 and 2024. 

However, growth witnessed in the implantable loop recorders segment, is likely to gain pace during the same time, enabling the segment exhibit a CAGR of 7.1% between 2016 and 2024. The rising awareness about the effectiveness of cardiovascular monitoring devices in diagnosing syncope is expected to act in favor of the segment’s growth. Considering the prevalence of huge unmet medical demand across emerging nation, the segment holds strong growth potential. Besides this, the demand for Holter monitor is expected to rise on back of the rising prevalence of conduction block and arrhythmia. 

Q: What recent innovations will enable market exhibit strong growth? 

A: As technologies evolve each passing day, consumers are looking for advanced methods of diagnosis for precise results and accurate indications. Smart technologies having forayed across diverse sectors, the healthcare industry is unlikely to fall behind. Recently, Genova, an Italy-based D-Heart Srl, has developed D-Heart. It is a four-lead smartphone-based ECG technology. Compatible with Android as well as iOS operating systems, D-Heart can stream results to any smartphone using Bluetooth. The team’s accomplishment was published very recently in the International Journal of Cardiology. D-Heart is a compact, pocket size and cost-effective diagnostic device, which can be tailored as per patient’s requirement. Furthermore, technologies it is inbuilt with will allow using D-Heart even in rural setting. 

This alongside several other innovations over the last few years, have guaranteed growth for the global cardiovascular monitoring and diagnostic devices market. 

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