Market Highlights:
Over the last few years, healthcare IT has gained a significant importance as the adoption of the software solutions and computer-aided diagnosis has increased the efficacy of the treatment. Increasing prevalence of cardiovascular diseases, adoption of advanced techniques in diagnosis, and increasing government support have driven the growth of the market. According to the World Health Organization, 422 million people across the globe are suffering from diabetes. Diabetes is the major reason for cardiovascular diseases. Increasing prevalence of diabetes, rapidly developing technology, and increasing geriatric population across the globe is fuelling the growth of the market.
However, strict regulations are to be followed by the manufacturer for the development of the devices. Strict regulatory rules and the high cost of some of the devices may slow the growth of the market over the assessment period.
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Regional Analysis
The Americas command a major share of the market owing to the huge patient population suffering from cardiovascular diseases & diabetes, increasing demand for the advanced devices, and strong government support. Additionally, availability of funds and rising geriatric population is expected to fuel the growth of the market.
Europe accounts for the second largest market across the globe, which is followed by Asia Pacific. Strong government support, availability of funds for research, and high healthcare expenditure is driving the growth of the market.
Asia Pacific is the fastest growing market owing to increasing need for better devices, rapidly improving technology, and the presence of huge patient pool. China and India are the key contributors to the market. Additionally, increasing government support, and presence of huge opportunity have fuelled the growth of the market in Asia Pacific.
The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities and poor economic conditions in the African region. The Middle East holds the major share in the market in this region owing to a well-developed economy, whereas, African region is expecting a healthy growth due to the presence of huge opportunity in the market.
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Segmentation
The global heart scan market is segmented on the basis of types, indication and end users. On the basis of the types, the global heart scan market is segmented into electron beam computed tomography, nuclear heart scan, echocardiogram, cardiac catheterization, coronary arteriography, angiocardiography, and others. Based on the indication, it is segmented into congenital heart disease, coronary arteries blockage, defects or injury to the heart’s four primary valves, blood clots within the heart’s chambers, tumors in or on the heart, and others. On the basis of the end users, the market is segmented into hospitals & clinics, diagnostic centers, cardiac care centers, ambulatory centers & home care, academic institutes, and others.
Key Players
Some of the major players in this market are Boston Scientific Corporation (U.S.), Coloplast (Denmark), Dispocard GmbH (Germany), St. Jude Medical (U.S.), Abbott Laboratories (U.S.), Johnson & Johnson (U.S.), Teleflex Incorporated (U.S.)., Smiths Medical (U.S.), Edwards Life Sciences Corporation (U.S.), Medtronic Inc (U.S.), Rochester Medical Corporation (U.S), Maquet Medical India Private Limited (India), Terumo Medical Corporation (Japan) and others.
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