The global Wearable Cardiac Devices market was valued at USD 1.8 Billion in 2021 and it is anticipated to grow up to USD 9.6 Billion by 2031, at a CAGR of 18.2% during the forecast period.
New York, According to a new market research report published by Global Insight Services “Wearable Cardiac Devices Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Wearable cardiac devices are small, portable machines that are worn on the body to monitor heart function. These devices can be used to track heart rate, rhythm, and blood pressure. They can also be used to provide information on heart health and to aid in the diagnosis and treatment of heart conditions.
Market Trends and Drivers
Increasing awareness about wearables coupled with preference for homecare devices will augment the market growth. Booming geriatric population base, that is prone to several chronic diseases across the globe will increase the patient pool suffering from cardiac arrhythmias and other CVDs. This will spur the demand for wearable cardiac devices among elderly population. Increasing number of patients suffering from various cardiovascular disorders (CVDs) will primarily drive the market expansion. Wearable cardiac devices such as patches, Holter monitors and wearable ECG devices, assist healthcare professionals and patients in monitoring cardiac parameters. As per the World Health Organization, about 17.9 million people die from CVDs each year. Owing to increased adoption of sedentary and unhealthy lifestyle habits such as excessive consumption of alcohol and smoking, the cases of cardiovascular disorders are increasing at rapid rate.
Market Restraints and Challenges
One of the key restraints in the wearable cardiac devices market is the limited number of indications that are currently approved for these devices. In addition, another key challenge facing the wearable cardiac devices market is the need for long-term data to support the efficacy and safety of these devices.
Major Players in the Global Wearable Cardiac Devices Market
The key players in the market ZOLL Medical Corporation, Cardiac Rhythm, iRhtythm Technologies Inc., Proteus Digital Health, Custo Med GmbH, Nuubo, Philips, Welch Allyn, VitalConnect, and Qardio. among others.
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Reasons to buy Wearable Cardiac Devices Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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