Global cardiac rehabilitation device market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Soaring Popularity of E-health, and E-cardiology Contribute Toward Cardiac Rehabilitation Device Market Growth
Cardiac rehabilitation offers several benefits, including easing chest tightness and other heart disease symptoms, and lowering the risk of additional illness and heart disease-related mortality. Cardiovascular rehabilitation program broadly involves blood pressure management, diabetes management, exercise training, and physical activity advice. The popularity of e-cardiology, and e-health is one of the major factors propelling the growth of the cardiac rehabilitation market. To respond to the urgent needs of the pandemic, the industry has also created new strategies and alliances with the help of the medical device sector. A shipment of two million Royal Philips-produced Automated External Defibrillators (AEDs) was delivered in September 2019 to provide the necessary medical care to treat Sudden Cardiac Arrest (SCA). This served as a high benchmark for the efforts put forward by any company in the cardiac rehabilitation device market.
According to reports, the ageing population, and an increase in cardiovascular disease prevalence continues to drive need for cardiac rehabilitation. Infrastructure advancements also support the expansion of the cardiac rehabilitation market in various international areas. Old habits are hard to break but bad eating habits and a sedentary lifestyle can worsen cardiac problems a sizable portion of all fatalities globally are caused by cardiovascular disease, which develops due to a healthy weight, poor stress management, and smoking. The popularity of e-cardiology and e-health is one of the major factors propelling the growth of the cardiac rehabilitation market. High-intensity training, a healthcare innovation, aids in reducing obesity and improving cardiovascular health. These medical procedures transform the industry and benefit patients with cardiovascular diseases when combined with platforms like AI, machine learning, and especially IoT.
Multiple Impediments Prevail Facing Cardiac Rehabilitation Device Market, Besides Costs of Installation
The biggest challenge facing cardiac rehabilitation market is to obtain the devices, and equipment from numerous hospitals, and clinics. Although the cardiac rehabilitation device market has had tremendous growth, it is projected that these factors, together with the high cost of installing the tools and technology used in cardiac rehabilitation, would provide difficulties for the industry. Additionally, many rehab facilities lack the funding to install a better and more sophisticated equipment selection. The already damaged markets are not prepared to invest significantly in cardiac rehabilitation programs, limiting the expansion of cardiac rehabilitation market. Heart disorders and their complicated treatments are also hampering the cardiac rehabilitation system market growth. The market will also remain limited by the lack of innovation, and the frequent modifications in the equipment’s functionality. In September 2021, SunTech Medical, a Halma Company, acquired Meditech, a producer of ECG Holter and ambulatory blood pressure monitors (ABPM). SunTech hoped to better serve customers through this transaction by utilizing the two companies' extensive blood pressure expertise.
Cardiac Rehabilitation Device Market: COVID-19 Impact
Cardiac Rehabilitation Device Market has benefited several industries, including healthcare and diagnostics. The emergence of the coronavirus has benefited the cardiac rehabilitation industry since people are now more concerned about their cardiovascular health. Constant cardiac function monitoring, documentation, and recommendations are part of the. Cardiac rehabilitation programs assist with life-threatening illnesses like obesity, and hyperlipidemia. Governmental lockdowns and travel restrictions have caused people to embrace an unhealthy lifestyle because gyms and other public exercise facilities were closed, forcing them to find new ways to monitor their health. Lockdowns related to COVID-19 have reduced the number of patients entering hospitals, allowing medical facilities to implement a cardiac rehabilitation program.
To respond to the urgent needs of the pandemic, the industry has also created new strategies and alliances with the help of the medical device sector. For instance, statistics reviewed on January 10 by the Centers for Disease Control and Prevention show that more than 868,000 Americans will die from heart disease in 2022, while more than 34.2 will die from diabetes. Exceptional picture sharpness and clarity, resilient structure, better exam efficiency, reproducible quantification, and the utilizing power made anatomical intelligence possible with an ultrasonic system that Royal Philips developed in April 2019.
Growing CVD Incidences, and Expanding Geriatric Population Fuel Cardiac Rehabilitation Device Market
Ageing population, and an increase in cardiovascular diseases a drive the risk for cardiac rehabilitation. The expansion of the cardiac rehabilitation device market is also supported by infrastructure advancement in various healthcare fields internationally. Along with this, there have been more government measures to address concerns like the prevalence of specific cardiovascular diseases and the difficulty in getting equipment and gadgets at fair prices.
Growing Public Consciousness, and Changing Lifestyles Drive Cardiac Rehabilitation Device Market Ahead
Old habits are hard to break but bad eating and sedentary lifestyles can worsen cardiac problems. About a sizable portion of all fatalities globally are caused by cardiovascular disease, which develops due to unhealthy weight, poor stress management, and smoking. Patients who undergo cardiovascular rehabilitation are taught how to control these risk factors and improve their long-term heart health. More people are embracing active lifestyles and going to cardiac rehabilitation facilities to improve their heart health.
Expensive Price Point of Cardiac Rehabilitation Equipment Remains a Major Restraint for Cardiac Rehabilitation Device Market
The biggest challenge facing cardiac rehabilitation device market is to obtain the cardiac rehabilitation devices, and equipment from numerous hospitals, and clinics. Even though the market for cardiac rehabilitation has had tremendous growth, it is projected that these factors, together with the high cost of installing the tools and technology used in cardiac rehabilitation, would provide difficulties for the industry. Additionally, many rehab facilities lack the funding to install a better and more sophisticated equipment selection.
Blood Pressure Monitor Sales Dominant in Cardiac Rehabilitation Device Market
The market for cardiac rehabilitation is divided into categories based on product, including elliptical trainers, stabilizing balls, treadmills, blood pressure monitors, rowers, and others. In 2021, the market for cardiac rehabilitation had a large revenue share earned by the blood pressure monitoring sector. It's because of more demand than ever for people to stay physically active. Even people with hypertension can benefit from having a trustworthy home blood pressure monitor if they need to or want to assess their blood pressure at home.
Percutaneous Coronary Intervention (PCI) Remains a Dominant Condition Driving Cardiac Rehabilitation Device Market
The cardiac rehabilitation market is divided into categories based on the condition it treats myocardial infarction, percutaneous coronary intervention, coronary artery bypass grafting, coronary artery disease, and others. In terms of revenue share, the cardiac rehabilitation market in 2021 was significantly dominated by the Percutaneous Coronary Intervention (PCI) segment. The rise in cases of obstructive coronary artery disease in the general population is to blame. During a PCI operation, a tiny incision is made in the upper thigh or wrist, and a catheter—a small, flexible tube—is placed through an artery going to the heart to reach the blocked channel.
Faster Regulatory Approvals Facilitate North America’s Cardiac Rehabilitation Device Market Growth
In 2021, North America overtook Europe as the leader in cardiac rehabilitation device market with the biggest revenue share for cardiac rehabilitation. A surge helped market expansion in the number of regulatory approvals in developed North American countries. Large biopharmaceutical & medical device businesses found in countries like the US were reasons for the same. The Middle East & Africa, and Asia Pacific on the other hand are predicted to experience the quickest growth during the forecast period. It is projected that expanding infrastructure and technological innovation adoption will lead to this rise. Global demand for cardiac rehabilitation is growing due to an ageing population and rise in the number of people who are health- and fitness conscious.
Cardiac Rehabilitation Device Market: Competitive Landscape
A shipment of two million Royal Philips-produced Automated External Defibrillators (AEDs) was delivered in September 2019 to provide the necessary medical care to treat Sudden Cardiac Arrest (SCA). This served as a high benchmark for the efforts put forward by any company in the cardiac rehabilitation device market. Exceptional picture sharpness and clarity, resilient structure, better exam efficiency, reproducible quantification, and high processing power made anatomical intelligence possible using an ultrasonic system that Royal Philips developed in April 2019. Amer Sports bought Queenax, a top supplier of functional training devices, on July 21, 2015. It is anticipated that this acquisition will enhance Amer Sports' selection of fitness-related goods and services, hence broadening its product line. The brand name Queenax and distribution and intellectual property rights are included in this deal. Precor's position as one of the top companies in the global cardiac rehabilitation service and fitness equipment sectors is likely to be strengthened by the acquisition, allowing it to provide consumers with a whole functional training system.
A few of the players in global cardiac rehabilitation device market include Schiller (US), Brunswick Corporation, Core Health & Fitness LLC, OMRON Corporation (Japan), Amer Sports, Honey well International Inc., The ScottCare Corporation (US), BioTelemetry Inc. (Malvern PA), LSI (US), and Ergoline GmbH (UK).
Regional Classification of Global Cardiac Rehabilitation Device Market is Listed Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Cardiac Rehabilitation Device Market
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