Cardiac reader system market size registered in 2018 Nearly USD 1,400 Million. The cardiac reader system market is expected to observe a CAGR of More than 5% over 2019 to 2027. The WHO’s recent statistical data underscores the alarming prevalence of obesity, potentially increasing susceptibility to acquire cardiovascular diseases. More than 17 million people die every year due to CVDs, which is estimated to be 31% of all deaths across the globe. Around 1.9 billion adults are suffering from excess weight, of which over 65% are obese. This survey highlights that around 13% of the adult population worldwide, is suffering from obesity.
North America will remain the high-growth regional market for cardiac reader systems. Europe will remain a significant market for cardiac reader systems manufacturers. North America’s market for cardiac reader system will be spearheaded by the US owing to the presence of a large number of hospitals and diagnostic centres.
In Europe, Germany and France are among the prominent countries with a large number of clinics and hospitals. The significant boost in sales of Chemiluminiscenece Immunoassay Analyzers (CLIA) is expected to boost the market for cardiac reader system.
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High prevalence of CVDs to uplift demand for cardiac reader systems
The prevalence of CVDs is rising and the occurrence of heart failure is rapidly becoming a commonplace cause of death, recently. The current patient pool of cardiovascular diseases roughly equates 26 million, globally. In the US alone, the occurrence of myocardial infraction is around 3.3% and the incidence of angina pectoris is around 4.5%, which is estimated to rise over coming years. The subsequent rise in the rate of early detection is estimated to boost the sales of cardiac reader systems in the global market.
Expanding geriatric patient population to drive adoption of cardiac reader systems
The geriatric population across the globe is expanding and according to the National Institutes of Health (NIH), about 8.5% of the global population was aged 65 years and above in 2016. By the end of 2050, this percentage is estimated to grow to about 17%. While aging people have been at a higher risk of acquiring CVDs such as myocardial infarction, heart failure, and angina pectoris, it is highly likely that the expansion of geriatric population will provide a direct impetus to the demand for cardiac reader systems.
Obesity to boost cardiac reader system sales
With each sixth person being overweight, obesity has become a global health challenge since the past few decades. As per WHO’s findings, the global number of overweight people has doubled since the last two decades. The World Health Organization has also projected that 1.9 billion adults are suffering from excess weight. This survey also expects that about 13% of the world’s geriatric population is suffering from excess weight, which is another factor contributing to cardiac reader system sales.
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In the wake of alarming prevalence rate of cardiovascular diseases (CVDs), it has become imperative for the makers of cardiac reader systems to engineer devices that deliver on-the-spot, accurate diagnosis. The FMI study indicates cardiac markers experiencing impressive consumption within the drug development sector, particularly targeting better management of CVD progression, which is shaping adoption of cardiac reader systems landscape.
The soaring need for faster patient triaging in cases of pre-hospital and emergency care is translating into the ascending sales of cardiac reader systems. The continued inadequacy of cardiac markers to be used in suspected stroke management will remain the key factor upraising the demand for R&D of innovative markers and cardiac reader systems.
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With a strong base of globally leading manufacturers, further assisted by frequent FDA approvals, cardiac reader system sales will continue to be the highest in developed regions. Characterized by the ever-high awareness about the risk factors and timely diagnosis of CVDs, the North American market has been at the vanguard of the global cardiac reader system landscape.
While hospitals and clinics have been spearheading the end use category of cardiac reader system landscape, they continue to account for more than 2/5th of overall sales. Research however prompts relatively higher sales opportunities arising in ambulatory surgical centers and diagnostic laboratories.
Rapidly improving levels of awareness about cardiac conditions and the associated risk factors is directing a gradual shift toward diagnostic laboratories, which are relatively easily accessible. Constant rise in the emergency use cases is abeting high adoption at ambulatory surgical centers.
The global Cardiac Reader System market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The growth outlook for the cardiac reader system market is predicted to advance at a CAGR of 5% from 2022 to 2032.
The North American and European regions are anticipated to lead the cardiac reader system market during the forecast period.
The cardiac reader system market is likely to hold a valuation of USD 2.68 billion by 2032.
The healthcare industry sector is the key end user in the cardiac reader system market.
1. Global Cardiac Reader System Market - Executive Summary 2. Global Cardiac Reader System Market Overview 3. Global Cardiac Reader System Market Analysis and Forecast 2013 to 2027 4. North America Cardiac Reader System Market Size and Forecast, 2013 to 2027 5. Latin America Cardiac Reader System Market Size and Forecast, 2013 to 2027 6. Europe Cardiac Reader System Market Size and Forecast, 2013 to 2027 7. Japan Cardiac Reader System Market Size and Forecast, 2013 to 2027 8. APEJ Cardiac Reader System Market Size and Forecast, 2013 to 2027 9. MEA Cardiac Reader System Market Size and Forecast, 2013 to 2027 10. Global Cardiac Reader System Market Company Share, Competition Landscape and Company Profiles 10.1. Abbott Laboratories 10.2. Thermo Fisher Scientific Inc. 10.3. Beckman-Coulter Inc. 10.4. Siemens Ltd. 10.5. Alere 10.6. F. Hoffmann-La Roche Ltd. 10.7. Getein Biotech Inc. 10.8. bioMérieux SA 10.9. Mitsubishi Chemical Europe GmbH 10.10. Boditech Med Inc. 10.11. Quidel Corporation 10.12. LifeSign 10.13. LSI Medience Corporation 10.14. Response Biomedical 10.15. Trinity Biotech 11. Research Methodology 12. Secondary and Primary Sources 13. Assumptions and Acronyms 14. Disclaimer
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Cardiac Reader System Market
