Fact.MR, a global research and consulting firm, in their updated edition of the report, opines that the heart failure monitoring systems market will expand at a notable pace in 2021 & beyond.
Fact.MR, a global research and consulting firm, in their updated edition of the report, opines that the heart failure monitoring systems market will expand at a notable pace in 2021 & beyond. The rising awareness in relation to the heart related issues is bolstering the demand for heart failure monitoring systems which helps medical professionals discover cardiac filling pressure, weeks or days before the symptoms become apparent.
“While there has been notable progressions in heart failure monitoring systems, for instance device-based therapy, the heart failure-associated mortality stays high. Market players of medical devices and equipment for instance heart failure monitoring systems, continue to change their production techniques by extensively investing in these systems’ research and development to curb the rising menace of heart-related conditions. ” states Fact.MR.
Surging Demand for Novel Products to Avert Heart Failure Propelling Demand
Growing research & development in cardiovascular disease (CVDs) and essential precautions to avert heart failure by presenting novel products by several key players are propelling the demand for heart failure monitoring systems. Reimbursement policies by several private and public sector and investment by the government spur the demand.
Furthermore, launching several heart failure awareness programs across the globe to ascertain knowledge sharing pertaining to the heart failure monitoring systems is driving the heart failure monitoring system industry.
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Hospitals will Continue to Hold Maximum Revenue Share
The hospitals remains prime contributor to the industry’s growth as a result of factors such as the growing prevalence of CVD, increasing number of patient visiting hospitals for diagnosis, rising number of cardiac implant surgeries, as well as the accessibility of reimbursement for these surgeries all over developed markets.
Furthermore, the home healthcare systems are also gaining traction due to its ease of treatment and cost-effectiveness. Technological progressions as well as miniaturization of products are encouraging the demand for home healthcare devices.
The US & Canada Promises Lucrative Expansion Prospects
The US and Canada, accounts for the largest market shares owing to a drastic rise in the patient pool of cardiovascular ailments. Additionally, incessant progressions in the technology, increasing awareness in patients regarding cardiac monitoring, favorable reimbursement policies and well-established healthcare infrastructure, are projected to encourage the demand, followed by Germany, the UK and Russia.
India, Japan, China, and Korea, are also anticipated to reflect higher growth due to the growing instances of cardiovascular disorders and rise in disposable income. The rapidly growing elderly population is also a key concern in these regions along with Australia & New Zealand.
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Technological Advancement Remain Prime Focal Area: Fact.MR Survey
The heart failure monitoring systems market is exceptionally focused and fragmented because of the existence of many small, medium, and large players. Fact.MR’s survey with thought leaders revealed that market players are focusing on technologically innovative heart failure monitoring systems to control the extensively increasing heart failure cases in 2021 and beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, iRhythm Technologies Inc, GE Healthcare, Biotronik, Livanova, Schiller, Hill-Rom Holdings, Applied Cardiac System, and Biotelemetry. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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Source: Fact.MR