According to reports, the demand for portable heart monitors in Asia will drive the global market for diagnostic heart disease equipment to grow by 12% in 2011-2016.
The 2016 global diagnostic heart disease equipment market is expected to increase revenue from $786 million in 2011 to $882 million, as shown. Asia will lead global growth, with a 57% increase in operating income in 2011-2016.
Figure: Global diagnostic heart disease equipment market revenue forecast (in millions of US dollars)
In all types of diagnostic cardiac devices, the HolterEGG system for portable cardiac monitoring will be a key driver of market expansion, and the revenue of this product will increase by nearly 13% in 2011-2016.
According to the World Health Organization, cardiovascular disease (CVD) is the world's biggest cause of death. In 2008, 17 million people died of the disease. This cardiac crisis has overwhelmed health care institutions, healthcare providers seek to promote preventive measures to avoid coronary artery bypass surgery and other expensive treatments. Diagnostic cardiac devices, especially portable systems, play an important role in reducing medical costs.
Going deep into the core of the EGG market
The diagnostic heart disease device market consists of four devices: Resting ECG, Exercise ECG, ECG Management System and HolterECG.
Most doctors' offices, clinics, and hospitals have the RestingECG device installed as the first means of checking for arrhythmia. Therefore, the global recumbent ECG market in 2011 is the largest market for diagnostic heart disease equipment with an estimated size of $392 million. However, as healthcare costs continue to rise, HolterECG will be increasingly used to reduce the cost of healthcare providers.
The focus of medical technology development is expected to be placed on patient compliance to increase the likelihood of treating patients outside the high-cost hospital environment.
Entering Asia
North America is the world's largest market for diagnostic heart disease equipment, but has reached market saturation.
Now the growth point has shifted to emerging regions, especially in Asia. In Asia, growth has come from China, India, and ASEAN countries such as Indonesia, Malaysia, Singapore and the Philippines.
In particular, the Holter market is still an untapped market in China and India. However, as cardiovascular disease has increased in these countries, healthcare providers are shifting their focus from expensive interventions to relatively inexpensive preventive care. Due to the non-invasive nature of such devices and the ability to monitor patients in rural settings, Holter devices are becoming increasingly popular in these countries.
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