South America Cardiac Monitoring Market - Segmented By Type of Device and Geography - Growth, Trends and Forecast (2018 - 2023)
The South America Cardiac Monitoring Market is expected to register high CAGR during the forecast period, 2018 to 2023. Cardiac monitoring devices are used to monitor and diagnose various abnormalities or disorders of the heart and the overall cardiovascular system.
Rise in the Incidences of Cardiovascular Diseases
Cardiovascular diseases (CVD) in South America region are the leading cause of death. The factors which leads to cardiovascular diseases are obesity, diabetes, life style and dietary habits. According to Mexican National Survey 2012, overweight or obesity was found in 64.9% of men and 73% of women which lead to CVD and increased mortality rates. Rate of diagnosis for cardio vascular diseases is increasing over time due to high incidence rates of cardiac diseases and to control mortality rates by early diagnosis and treatment for CVD with the help of cardiac monitoring devices. Hence rise in incidence of cardiovascular diseases drives the market. The other factors such as investments in R&D for innovative product development, ease and use of portability in devices and demand for home based, point of care & remote monitoring cardiac systems are the major drivers for the market.
Risk of Infection Due to Implantable Monitoring Devices
Cardiac Monitoring device is used by patients who require continuous monitoring of the heart for better treatment. Monitoring the cardiac output is a common practice in patients who undergo surgeries as they will be under anesthesia and critical care. Cardiac implantable devices are used for related cardiac surgeries to monitor heart rate continuously. The patients who undergo any invasive procedures are at risk of infections; cardiac patients are more prone to the infections than others. The rising rate of infections due to these devices has tremendous economic implications on hospitals. Patients who were implanted with these monitoring devices are likely to require prolonged hospital stays, and the related costs rack up quickly. However, minimally invasive cardiac output monitors for clinical practice are introduced into the market, without requiring insertion of Pacemaker. These devices utilize different techniques to monitor, and each has their own sources of potential errors and degree of invasiveness. Hence, the risk of infection due to implantable medical devices is a constraint for the market. The other factors such as low level of accuracy with invasive cardiac output monitoring devices and stringent FDA and validator regulations are the major restraints for the South America Cardiac Monitoring Market.
Brazil Lead the Market in South America region
The Cardiac Monitoring Market holds the largest market share in Brazil in South America region for the year 2017 due to high incidence rates of cardiac diseases.
Key Developments in the Market