Cardiac Rehabilitation Devices Market Share And Growth Analysis By Phase (Phase I, Phase Ii), Patient (Coronary Artery Bypass Grafting), Type (Outpatient), Device (Ellipticals), End User (Rehab & Specialty Centre), & Region – Forecast Till 2023
Cardiac Rehabilitation Devices Market Scenario
Global cardiac rehabilitation devices market is expected to register a CAGR of 6.20% to reach USD 2,839.9 million by 2023. owing to the growing prevalence of growing cardiovascular disease. Cardiac rehabilitation devices are used to improve patient’s health suffering from various heart conditions like congestive heart failure, cardiovascular diseases, and also patients underwent surgeries like bypass or angioplasty. Cardiac rehabilitation helps to improve the quality of life by providing long-term survival, reducing cardiac symptoms, improving cholesterol levels, weight loss, reduce stress level, lower blood sugar level, and blood pressure.
Drivers and Constraints Impacting the Cardiac Rehabilitation Devices Market
With the growing geriatric population, the high prevalence of cardiovascular diseases, and increasing incidence of obesity are some of the major factors driving the market growth over the assessment period. Global initiatives associated with awareness of cardiovascular diseases, increasing demand for advanced treatment, government fund and support, growing research and clinic trials, and market players providing new products are estimated to foster the market growth during the review period. Moreover, rise in coronary diseases, increasing fitness expenditure, and increasing number of deaths caused due to heart attacks are some of the other factors bolstering the market growth over the years.
On the flip side, high cost associated with initial investment along with lack of skilled personnel are expected to inhibit the market growth in the coming years.
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Global Cardiac Rehabilitation Devices Market: Segmental Analysis
The global cardiac rehabilitation devices market has been segmented based on end-users, type, and region.
By mode of type, the global cardiac rehabilitation market has been segmented into stationary bicycle, blood flow monitors, training balls, heart rate monitors, recumbent cross trainer, ellipticals, treadmill, and others. Among these, treadmills dominate the market owing to the growing prevalence of lifestyle-associated diseases such as obesity and cardiovascular diseases along with the growing number of fitness and health-conscious people. The blood flow monitor is estimated to showcase the fastest growth during the forecast period owing to the rising need for real-time vital signs monitoring devices. The demand for digital meters is always high as compared to manual meters as they are portable and convenient to use.
By mode of end-users, the global cardiac rehabilitation market has been segmented into specialty centers, hospitals and clinics, rehab centers, and others.
Cardiac Rehabilitation Devices Market Regional Insights
Geographically, the cardiac rehabilitation devices market spans across North America, Europe, Asia Pacific, and the Middle East and Africa.
Among all the regions, the North American region for cardiac rehabilitation devices is predicted to hold the largest share owing to the increasing geriatric population and rising prevalence of cardiovascular diseases in this region. Moreover, increasing expenditure on healthcare, rising demand for technologically advanced treatment, number of approvals for cardiovascular diseases, and increasing government support are expected to galvanize the market in this region during the forecast period.
Europe is estimated to hold the second largest position due to the availability of advanced and newer treatment facilities along with expenditure on healthcare. Moreover, rising population inclined towards sedentary lifestyle along with growing prevalence of cardiovascular rates are some of the factors fostering the market growth in this region. For instance, Eurostat estimated that around 19.2 % of the European population was aged 65 +. The growing aged population is likely to enhance the market in the coming years.
Asia Pacific is predicted to be the fastest growing market due to the increasing prevalence of chronic diseases in this region. China is the fastest growing region due to increasing patient population. Availability of new treatment methods is expected to drive the market. On the other hand, the Middle East and Africa are expected to show the least growth due to lack of awareness and weak healthcare industry scenario.
Cardiac Rehabilitation Devices Industry News
July 23, 2018: The U.S. Food and Drug Administration has granted 510 k clearance for the PocketECG Cardiac Rehabilitation System. This mobile cardiac rehabilitation system has been designed to provide high-quality ECG monitoring and automated arrhythmia detection during rehabilitation training.
Cardiac Rehabilitation Devices Market Competitive Analysis
Some of the key players operating the market are Amer Sports, Mortara Instrument, Vonco Medical, Core Health and Fitness LLC, LifeWatch AG, The ScottCare Corporation, Ball Dynamics International LLC, and others.
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