According to a recent report by IMS Research, Asia will soon lead the world in market revenue growth for diagnostic cardiology devices. From now through 2016, revenue from such devices in Asia is set to more than double. World demand will grow by only 12 percent over the same period, from $786 million to $882 million.
Diagnostic cardiology devices include resting electrocardiograms (ECG), stress ECGs, ECG management systems and portable Holter ECGs.
Facing rising rates of cardiovascular disease (CVD), many patients in Asia are seeking preventative care measures to reduce their need for invasive procedures later. While resting ECG devices — found in many clinics and hospitals — make up the largest part of the market, the report says that portable Holter ECGs will soon lead market growth.
Of the 17 million global deaths to CVD each year, close to two-thirds occur in Asia. As Asians move into the middle class, they are taking up sedentary lifestyles, smoking more and eating more “Western” style fast foods. These are all risk factors for developing CVD and other heart problems.
Growth in the overall Asian cardiovascular medical device market is taking place quickly. By 2020, Asia’s share of the world cardiovascular device market will increase from its current 30 percent to 40 percent. At the same time, growth potential in the diagnostic device market has shifted from North America to emerging regions in Asia, particularly China, India, Indonesia, Singapore, Malaysia and the Philippines.