Cholesterol management devices: rapid development in the cholesterol monitoring devices upsurges the market growth at a CAGR of 8.5% during the forecast period 2017-2023

Pune, India, March 27, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Cholesterol Management Devices Research Report

Market Highlights

Market Scenario

Cholesterol management devices are the monitoring devices for the determination of the cholesterol levels in the body. Cholesterol is one of the vital constituents of the cells. However, increase in the cholesterol level may lead to atherosclerosis, cardiovascular diseases, heart attack, and other diseases. The global cholesterol management devices market is driven by rapid development in the cholesterol monitoring devices, and increasing people suffering from obesity. Moreover, affordability of the devices, poor diet and less physical activity, desk-bound nature of work, changing modes of transportation, and increasing urbanization have also contributed to the growth of the market. However, lack of awareness among the people may obstruct the growth of the market.

The global cholesterol management devices market projected to grow at a CAGR of 8.5% during the forecasted period 2017-2023.

Segmentation:

The global cholesterol management devices market is segmented on the basis of types, applications, and end users. On the basis of types, the market is classified into monitors, wrist monitors, small portable instruments, meters, wireless systems, and others. On the basis of applications, the market is categorized into hypercholesterolemia, hypocholesterolemia, cholesterol testing, and others. On the basis of end users, the market is segmented into home healthcare, hospitals, clinics, and others.

Regional Analysis

Geographically, the global cholesterol management devices market is categorized into America, Europe, Asia Pacific and the Middle East & Africa. America accounts for the largest share of  the global market followed by Europe. The presence of a huge population suffering from obesity and hypercholesterolemia has driven the growth of the market in America. While, the government support for research and development, well-developed technology, and higher healthcare expenditure have uplifted the growth of the market in Europe and expected to continue over the forecast period. Asia Pacific experiencing the fastest growth in the market owing to the presence of rapidly growing economies, and a large population base. The Middle East & Africa has the least share in the global market due to the presence of poor infrastructure and less developments in the healthcare sector especially, in the African region.

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Some of the key player in the market are Boston Scientific Corporation (US), Medtronic (US), St. Jude Medical, LLC. (Canada), Koninklijke Philips N.V. (US), Roche Diagnostics (US), Abbott (US), Alere (US), Sorin Group (Italy), BIOTRONIK SE & Co. KG (Germany), Bio-AMD (UK) and others.

Currently, the global cholesterol management devices market is experiencing extreme competition due to leading companies are focusing on the development of new and advanced monitoring devices to overcome the disadvantages of other available devices. Some of the market players are responding to these new opportunities by expanding their global presence and service offerings/product lines.

Abbott, headquartered in the US, is one of the leading healthcare company. The company manufactures, ARCHITECT, which is a clinical chemistry analyzer provides the excellent first-time results. The company performs a number of tests for high-density lipoprotein (HOL), low-density lipoprotein (LDL), and triglycerides.

Medtronic, headquartered in the UK, is the world's largest medical devices manufacturer. Till now, the company has launched a number of portable monitoring devices used in the hospitals. In 2015, the company acquired Covidien.