Jan 14, 2020 7:12 AM ET
Cardiac Rehabilitation Market Size is Estimated to Grow at CAGR of 6.04% During 2019-2024
iCrowd Newswire -
Jan 14, 2020
The Global Cardiac Rehabilitation Market Size is estimated to reach revenue of $2.30 billion by 2024, growing at a CAGR of 6.04% during 2019-2024. The cardiac rehabilitation market growth is characterized by the increasing prevalence of lifestyle diseases across the globe. Also, the increasing awareness of people to lead a healthier lifestyle as well as the availability of home based tele-cardiac rehabilitation is driving the overall cardiac rehabilitation market. Some common cardiac diseases are myocardial infarction, peripheral artery disease and cardiomyopathy.
- The North America region is currently dominating the cardiac rehabilitation market owing to the larger population affected with lifestyle diseases. Other major regions are profiled in the final report. Cardiac rehabilitation market scope for different regions are also provided.
- The treadmill has the largest share of the cardiac rehabilitation devices. Information about other devices are provided in the full report. Also, other cardiac rehabilitation market trends are given in final report.
- Higher expense of products is considered as a major challenge for this market. Other constraints mentioned in the full report.
Device Type – Segment Analysis
The Treadmill has accounted for the largest share in this segment. This is owing to the rise in lifestyle diseases such as cardiovascular diseases and obesity. People suffering from these diseases can benefit from exercising on a treadmill. However, the blood pressure monitors are estimated to have the fastest CAGR of 9.65% during the period under consideration. This demand has risen owing to the high demand for an easy to use and store monitoring system for cardiac rehabilitation.
Geography – Segment Analysis
The North America region is currently dominating the cardiac rehabilitation market share with an estimated regional revenue share of 33%. This is owing to the large population as well as the increased prevalence of lifestyle diseases in this region. Also, the growing technological advancements in this region have resulted in the creation of new cardiac rehabilitation products. However, the APAC region have been estimated to be the fastest growing region for cardiac rehabilitation devices during 2019-2024. This is due to rapid lifestyle changes and the increasing prevalence of cardiovascular diseases and obesity.
Drivers – Cardiac Rehabilitation Market
- Rising Prevalence of Lifestyle Diseases
There is a rising prevalence of lifestyle diseases such as cardiovascular diseases and obesity globally. This has forced people to turn to these devices for monitoring and exercising. The use of these devices will help them regain health and will allow them to live a better life. The increasing awareness among people regarding the negative effects of lifestyle diseases have also resulted in the increased usage of such devices. This can increase the overall cardiac rehabilitation market demand.
- Supportive Government Policies
Many governmental organizations are creating awareness regarding these diseases and the proper devices to be used so that its negative effects can be reduced. This can greatly increase the usage of these devices for such diseases. The events conducted by such organizations have encouraged several people to pursue a healthier lifestyle.
Challenges – Cardiac Rehabilitation Market
- Higher Technological Expense
Many of the cardiac rehabilitation devices are considered expensive for the general population mainly owing to the high technological costs. The high costs of cardiac rehabilitation programs have discouraged many people to join them. Also, the awareness of people from an early age means that more and more of the younger generation need not deal with the problems of lifestyle diseases. This can be considered as a major constraint of the market.
Cardiac Rehabilitation Market Outlook
Acquisitions and Partnerships are some of the key strategies undertaken by the major players of the cardiac rehabilitation market. Key players in the Market include: Core Health & Fitness, LLC, Honeywell International, Inc., BioTelemetry Inc., OMRON Corporation, Koninklijke Philips N.V., Smiths Group Plc, Technogym S.p.A., Johnson Health Tech Co., ergoline GmbH, Schiller AG, among others and they are considered for cardiac rehabilitation market analysis.
- On March 2017, Omron Healthcare Co., Ltd. Had announced an agreement that forms capital and business partnerships with AliveCor, Inc. The company will improve their cardiovascular product portfolio through this partnership.
- On March 2019, BioTelemetry Inc. had announced the acquisition of Geneva Healthcare Inc. This will help the company to include remote cardiac monitoring systems to its portfolio.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1970-236-3677
Keywords: cardiac rehabilitation market, cardiac rehabilitation market price, cardiac rehabilitation market size, cardiac rehabilitation market shape, cardiac rehabilitation market report, cardiac rehabilitation market research, cardiac rehabilitation market forecast