Cardiovascular Diagnostic Device Market Expected to Reach $21.1 Billion by 2034

According to a new report published by Allied Market Research, titled, “Cardiovascular Diagnostic Device Market," The cardiovascular diagnostic device market was valued at $10.5 billion in 2024, and is estimated to reach $21.1 billion by 2034, growing at a CAGR of 7.2% from 2025 to 2034.

The major factor driving the cardiovascular diagnostic device market growth is the demand for cardiovascular diagnostics device is the rising aging population. Older adults are more susceptible to conditions such as atrial fibrillation, hypertension, and congestive heart failure, which require regular monitoring and timely diagnosis. The increasing life expectancy across the globe, particularly in developed nations, is creating a large base of patients who need continuous cardiac diagnosis thereby driving the market growth.

Further, the healthcare industry is undergoing a transformation from volume-based services to value-based care models that emphasize improved outcomes and cost-efficiency. Cardiovascular diagnostics play a pivotal role in this model by enabling early disease detection, reducing emergency interventions, and preventing hospital readmissions. Additionally, with a growing emphasis on personalized medicine, there is an increased demand for diagnostic tools that provide real-time, patient-specific cardiac data helping clinicians tailor treatment plans and optimize therapy effectiveness, and are also the cardiovascular diagnostic device market trends.

Moreover, government led initiatives and public health campaigns aimed at    cardiovascular testing devices, reducing cardiovascular disease burden are also contributing to market growth. Many countries have implemented national screening programs that promote routine heart health checks using ECG and other non-invasive diagnostic tools. Furthermore, funding support for telecardiology and rural outreach programs has expanded access to these technologies, especially in underserved regions. This institutional support is accelerating the adoption of portable and wearable diagnostic devices across both public and private healthcare systems.

The cardiovascular diagnostics device market is segmented into product, end user, distribution channel, and region. By product, the market is categorized into electrocardiogram devices, holter monitoring devices and others. On the basis of end user, it is segregated into hospitals, cardiac centers, and others. On the basis of distribution channel, the market is categorized into offline and online. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

On the basis of product, the market is categorized into electrocardiogram devices, holter monitoring devices and others. The electrocardiogram devices segment accounted for the largest cardiovascular diagnostic device market share in 2024 due to their widespread use as a first line diagnostic tool across hospitals, clinics, and emergency care settings. Their affordability, ease of use, and essential role in detecting a broad range of cardiac abnormalities contribute to their high adoption globally.

However, the others segment is projected to register the highest CAGR during the forecast period, driven by the rising demand for long-term and remote cardiac monitoring solutions. Increasing adoption of wearable technologies such as cardiac patches and implantable loop recorders, combined with advancements in wireless connectivity and AI-based ECG interpretation, is expanding their utility in outpatient and homecare settings, thereby cardiovascular diagnostic device market outlook. On the basis of end user, the market is categorized into hospitals, cardiac centers, and others. 

The hospitals segment accounted for the largest cardiovascular diagnostic device market share in 2024, owing to the high volume of patients visiting for cardiac issues in hospital settings, availability of advanced infrastructure, and the presence of skilled personnel. Additionally, hospitals serve as primary diagnostic hubs, especially in developing countries, which further drives segment dominance.

However, the others segment is projected to register the highest CAGR during the cardiovascular diagnostic device market forecast period, attributed to the rising demand for cost-effective cardiac diagnostic services. The increasing adoption of wearable ECG technologies, the shift toward outpatient care, and the growing number of diagnostic and ambulatory care centers are expected to fuel rapid growth in the segment, particularly for chronic disease monitoring and preventive care.On the basis of distribution channel, the market is categorized into online and offline channels. 

The offline segment accounted for the largest cardiovascular diagnostic device market size in 2024, due to the continued preference for traditional procurement through hospitals, clinics, and authorized medical device distributors. Established relationships between healthcare facilities and suppliers, along with bulk purchasing, have sustained the dominance of offline channel.

However, in the cardiovascular diagnostic device market analysis the online segment is projected to register the highest CAGR during the forecast period, driven by the rapid digitalization of healthcare procurement and the growing presence of medical device e-commerce platforms. The convenience of direct-to-facility and even direct-to-patient purchasing, especially for portable and wearable cardiac diagnostic devices, is supporting the shift toward online distribution, particularly in urban and semi-urban regions.

Region wise, North America accounted for the largest cardiovascular diagnostic device market size in 2024, due to high prevalence of cardiovascular diseases, strong healthcare infrastructure, and widespread adoption of advanced diagnostic technologies. Additionally, the presence of key market players, favorable reimbursement policies, and increased use of portable and wearable cardiac monitoring devices support the region’s dominance.

However, the Asia-Pacific region is projected to register the highest CAGR during the forecast period, owing to the rising geriatric population, growing burden of lifestyle-related cardiac disorders, access to heart diagnostic devices, and improving access to healthcare services. Increased government investment in healthcare infrastructure, rise in awareness of early cardiac diagnosis, and rapid adoption of telemedicine and mobile health technologies are driving the cardiovascular diagnostic device market growth across the region.

Key Takeaways

• By product, the  electrocardiogram devices segment was the largest contributor to the cardiovascular diagnostic device market in 2024 and the others segment is expected to register the highest CAGR during the forecast period.
• By end user, the hospitals segment was the largest contributor to the cardiovascular diagnostic device industry in 2024 and the others segment is expected to register the highest CAGR during the forecast period. 
• By distribution channel, the offline segment dominated the market in 2024 and the online segment is expected to grow at a highest CAGR during the forecast period.
• Region wise, North America generated the largest revenue in cardiovascular diagnostic device market in 2024. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.