Report Overview
[ 176 + Pages Research Report ] Wearable Cardiac Devices Market to surpass USD 14.1 billion by 2031 from USD 1.98 billion in 2021 at a CAGR of 24.4% in the coming years, i.e., 2021-2031.
Product Overview
Wearable Cardiac devices refer to equipment meant for diagnosing and monitoring the important heart signs of the patients. The devices are assembled on the patient’s body by healthcare practitioners to monitor and diagnose patient outcomes more easily and effectively. Wearable Cardiac device using wireless technology is becoming increasingly popular and offers freedom and comfort to patients. Immediate medical help can be provided, to decrease symptoms and the risk of cardiac arrest. Health-conscious people are using wearable Cardiac devices extensively. This invention aims to improve patient care, disease management, and the patient’s overall healthcare experience. Accelerated development and digital revolution and information technology have transformed the healthcare industry is no exception.
Market Highlights
Global Wearable Cardiac Devices Market is expected to project a notable CAGR of 24.4% in 2031.
A rise in awareness about wearables along with a preference for home care devices is attributed to the market growth of the Wearable Cardiac devices market. An increase in the incidence of atrial fibrillation, tachycardia, bradycardia, and other cardiac arrhythmia conditions, is predicted to drive the demand for superior cardiac monitor treatments.
Global Wearable Cardiac Devices Market: Segments
Home healthcare segment to grow with the highest CAGR during 2021-31
Based on application, the global Wearable Cardiac Devices Market is fragmented into Home Healthcare and Remote Patient Monitoring. The segment is expected to grow rapidly in the coming years because of the rising prevalence of cardiovascular diseases and continuous monitoring of cardiac conditions at home by using wearable devices will lead to lessened visits to hospitals. Furthermore, home healthcare is seen as a solution to easy handling, high convenience, and effective patient monitoring while at home.
Hospitals segment to grow with the highest CAGR during 2021-31
Global Wearable Cardiac Devices Market is classified on the basis of End User into Hospitals, Retail pharmacies, Academic institutes, and Others. The Hospital segment is expected to continue during the forecast period. For diagnosis, the rising number of patient visits to hospitals, increasing number of cardiac implant routines.
Market Dynamics
Drivers
Increasing prevalence of cardiovascular disease
The increased prevalence of cardiovascular disease (CVD), as well as rising death rates, is a major source of concern for both individuals and government organizations. Physical inactivity, high cholesterol, high blood pressure, unhealthy diets are some of the primary risk factors for CVD which contribute to the increasing incidence of CVD. The demand for CM & CRM devices is expected to increase throughout the forecast period.
Growing preference for home healthcare
The increasing acceptance of wearable technology across the healthcare sector is likely to drive the global wearable cardiac devices market share. In addition to the rising technological advancements that reduce the risk of several chronic diseases, high preference for wearable cardiac monitors over implant monitors, the demand for wearable medical devices is expected to increase throughout the forecast period.
Restraint
Unfavorable standards and regulations
Government authorities play an important role in finding reimbursements for mobile healthcare. In many states, definition of medical care by national laws is physical presence of the patient and doctor, affecting recompenses of mobile and remote healthcare solutions. In healthcare arena adoption of wearables is lagging due to these regulations.
Global Wearable Cardiac Devices Market: Key Players
- Cardiac Rhythm
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- ZOLL Medical Corporation
- Nuubo
- Biotelemetry Inc.
- Proteus Digital Health
- Hillrom Services Inc.
- Proteus Digital Health
- custo med GmbH
- Qardio Inc.
- iRhtythm Technologies Inc.
- Other Prominent Players
Global Wearable Cardiac Devices Market: Regions
Global Wearable Cardiac Devices Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. In North America, the wearable cardiac devices market is expected to see remarkable growth during the forecasted period. The increasing number of research studies and new industry players would further fuel the product demand in the region.
Impact of Covid-19 on Wearable Cardiac Devices Market
The wearable cardiac devices have seen a positive boost as a result of the covid-19 pandemic. The rising awareness and acceptance of digital technologies in healthcare, has resulted in an increase in the use of the Wearable Cardiac Devices Market. The concern on health management has risen during COVID-19 which has had a beneficial impact on the market growth.
Global Wearable Cardiac Devices Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Wearable Cardiac Devices Market report also contains analysis on:
Wearable Cardiac Devices Market Segments:
- By Device
- Holter Monitor
- Patch Monitor
- Defibrillators
- By Application
- Home Healthcare
- Remote Patient Monitoring
- By End User
- Hospitals
- Retail pharmacies
- Academic institutes
- Others
- Wearable Cardiac Devices Market Dynamics
- Wearable Cardiac Devices Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Wearable Cardiac Devices Market Report Scope and Segmentation
| Report Attribute | Details |
| The market size value in 2021 | USD 1.98 billion |
| The revenue forecast in 2031 | USD 14.1 billion |
| Growth Rate | CAGR of 24.4% from 2021 to 2031 |
| The base year for estimation | 2020 |
| Quantitative units |
Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | The device, End-user, Application, and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Cardiac Rhythm, ZOLL Medical Corporation, Nuubo, Biotelemetry Inc., Proteus Digital Health, Hillrom Services Inc., Proteus Digital Health, Custo med GmbH, Qardio Inc., iRhtythm Technologies Inc. and Other Prominent Players. |
Frequently Asked Questions (FAQ):
Wearable Cardiac Devices Market size was estimated at USD XXX in 2021 and is expected to reach USD XXX by 2031.
Key players are Cardiac Rhythm, ZOLL Medical Corporation, Nuubo, Biotelemetry Inc., Proteus Digital Health, Hillrom Services Inc., Proteus Digital Health, custo med GmbH, Qardio Inc., iRhtythm Technologies Inc. and Other Prominent Players
Home healthcare and Hospitals segment is anticipated to hold the Wearable Cardiac Devices Market
Drivers: Increasing prevalence of cardiovascular disease and Growing preference for home healthcare
Wearable Cardiac devices refer to equipment meant for diagnosing and monitoring the important heart signs of the patients. The devices are assembled on the patient’s body by healthcare practitioners to monitor and diagnose patient outcomes more easily and effectively.
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