Global Cardiology Diagnostics Market - 2023-2030

Global Cardiology Diagnostics Market - 2023-2030

Global Cardiology Diagnostics Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030 growing at a CAGR of XX% during the forecast period 2023-2030.

Cardiology diagnostics are the tests that are performed to check the functioning of the heart and the condition of the heart. It gives information about the electrical activity of the heart, and heartbeat rhythm and helps to know the abnormal activity of the heart. It involves identifying and evaluating various cardiovascular diseases and helping manage the disease.

The tests that are normally involved in cardiology diagnostics are electrocardiogram, Holter monitoring, and echocardiogram among others. Cardiovascular diseases are among the leading causes of death worldwide. According to the World Health Organisation, an estimated 17.9 million lives annually. These diseases include coronary heart disease, arrhythmias, congestive heart failure, periphery artery disease, etc.

Market Dynamics: Drivers & Restraints

Increasing prevalence of cardiovascular diseases

Increasing cardiovascular diseases and an increase in the obese population are expected to drive market growth. For instance, according to the British Heart Foundation report in 2023, it is estimated that over 200 million people are with coronary heart disease all over the globe. In obese people the fatty material will clog the walls of the arteries which can increase the risk of high blood pressure and also the proper supply of blood will be clogged which leads to heart attacks.

The diagnosis of the condition of the heart helps the individual find the risks associated with the health. For instance, according to the WHO data in 2021, there were over 650 million adults suffering from obesity.

According to the report by NIH in 2021, the worldwide prevalence of atrial fibrillation is 37,574 million cases (0.51% of the worldwide population), which increased by 33% during the last 20 years. Thus, the above factors are expected to drive market growth during the forecast period.

Furthermore, the increase in the prevalence of cardiovascular diseases, increase in awareness among individuals about heart diseases, and increasing technological advancements are expected to drive the market growth during the forecast period.

Side effects associated with cardiology diagnostic procedures

The side effects associated with cardiology diagnostic procedures are expected to hinder the market growth. Occasionally after the heart scan people will experience itching, nausea, and rash sometimes due to the injection administered. Cardiac stress tests in advanced heart disease patients can cause fainting, chest pain, irregular heartbeat, and heart attack. Thus, the above factors are expected to hinder the market growth.

Segment Analysis

The global cardiology diagnostics are segmented based on product, application, end-user and region.

The Electrocardiogram (ECG) system segment accounted for approximately 56.3% of the market share

The Electrocardiogram system product segment is expected to hold the dominant position in the market share due to the increase in the number of patients with increasing heart problems and increasing technologically advanced device launches.

The advanced devices have strong abilities for anti-interference and arrhythmia detection. The increase in the number of device launches with advanced features is expected to drive the segment growth. For instance, in October 2022, Dozee launched an ambulatory electrocardiogram (ECG) patch to monitor patients with cardiovascular disease (CVD). The device will be useful for remote cardiac monitoring that detects abnormal heart rates and rhythms (arrhythmia) when the patient is ambulatory.

In July 2021, Health monitoring and therapy firm OMRON Healthcare launched OMRON Complete, its first single-lead electrocardiogram (ECG) and blood pressure (BP) monitor for home use. Thus, the increase in device launches is expected to hold the segment in the dominant position in the forecast period.

Geographical Analysis

North America accounted for approximately 43.6% of the market share in 2022

North America is expected to hold a dominant position in the market share during the forecast period due to the increasing heart diseases in the region and also the increasing geriatric population.

Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. For instance, according to the American Heart Association, it is estimated that cardiovascular disease (CVD) remains the leading cause of death in the United States which accounted for 928,741 deaths in the year 2020.

Furthermore, according to the report by WHO in 2023, it is estimated that about 695,000 people in the United States died from heart disease in 2021, which is 1 in every 5 deaths.

In 2023, Heart Rhythm Alliance stated that atrial fibrillation affects about 1 in 50 Americans under the age of 65 and about 1 in 10 Americans over age 65.

COVID-19 Impact Analysis

Covid 19 impacted the cardiology diagnostics market due to the continuous spread of the infection, increased number of cases during the peak of the pandemic led to a decrease in the diagnosis of cardiovascular diseases compared to covid 19 due to its emergency. There is a shift in the diagnostic procedures towards the covid 19 infection. Most of the procedures were postponed to later stages.





Market Segmentation

By Product
• Electrocardiogram (ECG) system
• Resting ECG Systems
• Cardiopulmonary Stress Testing Systems
• Holter Monitoring Devices
• Event Monitoring Devices
• Implantable Loop Recorder (ILR)
• Others

By Application
• Myocardial infarction
• Arrhythmia
• Ischemia
• Hypertrophy
• Others

By End User
• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Imaging Centers
• Specialty Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the cardiology diagnostics market include GE Healthcare, BPL Medical Technologies, Boston Scientific Corporation, Abbott Laboratories, 3M Company, Koninklijke Philips N.V., Siemens Healthineers, Cardinal Health, Medtronic plc, Hitachi Medical Systems among others.

Key Developments
• In June 2023, Eko Health launched its next-generation digital stethoscope, the CORE 500. It enhances diagnostic accuracy and early disease detection. It combines artificial intelligence (AI) software, high-fidelity audio, full-color display, and 3-lead electrocardiogram (ECG).
• In February 2022, AliveCor launched the Kardia Mobile Card, an electrocardiogram (ECG) device the size of a standard credit card.

Why Purchase the Report?
• To visualize the global cardiology diagnostics market segmentation based on product, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cardiology diagnostics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global cardiology diagnostics market report would provide approximately 62 tables, 65 figures, and 185 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies