Market Scenario
Cardiac rehabilitation devices are used to improve the health of patients diagnosed with various heart conditions such as any cardiovascular disease, congestive heart failure, and also in patients who have undergone any heart surgery, such as angioplasty or bypass surgery. Cardiac rehabilitation can improve the quality of life by reducing cardiac symptoms, providing benefits such as long-term survival, weight loss, improved cholesterol levels, blood pressure, lower blood sugar levels, and reduced stress levels.
The global cardiac rehabilitation devices market is majorly driven by the high prevalence of cardiovascular diseases, high incidence of obesity, and increase in geriatric population. Additionally, factors such as global initiatives regarding the awareness of cardiovascular diseases, government funding and support, rising demand for advanced treatment, increasing research and clinical trials for cardiac rehabilitation devices, and growing market players offering newer products are likely to drive the market.
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Factors that are likely to hamper the growth of the market are lack of skilled personnel and the high cost of initial investment.
Global Cardiac Rehabilitation Devices market is expected to grow at a CAGR of 6% during the forecast period.
Intended Audience
- Pharmaceutical Manufacturers and Suppliers
- Medical Research Laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
Segments
The global cardiac rehabilitation devices market is segmented on the basis of type and end-user.
On the basis of type, the market is segmented into blood flow monitors, stationary bicycle, recumbent cross trainer, treadmill, ellipticals, training balls, heart rate monitors, and others.
On the basis of end-user, the market is segmented into hospitals and clinics, specialty centers, rehab centers, and others.
Regional Analysis
The North American cardiac rehabilitation devices market is a growing market in the Americas region. North America is segmented into the U.S. and Canada. Increasing number of older population and the increasing prevalence of cardiovascular rates are likely to enhance the growth of the cardiac rehabilitation devices market. Additionally, growing healthcare expenditure, increase in a number of approvals for cardiovascular devices, and the increasing demand for technologically advanced treatments and products along with the rising government support are likely to enhance the growth of the cardiac rehabilitation devices market in North America. According to the American Heart Association, one in every three deaths in the U.S. was due to cardiovascular disorder, in 2014. Similarly, cardiovascular disorders had claimed over 801,000 lives in 2014 in the U.S.
Europe is the second largest market and holds a healthy share in the global cardiac rehabilitation devices market. The European market is expected to grow during the forecast period owing to the availability of newer and advanced treatment facilities and healthcare expenditure along with the growing need for better healthcare infrastructure. Furthermore, rising cardiovascular rates, along with the increasing population inclined towards sedentary lifestyle are driving the growth of the cardiac rehabilitation devices market. According to the European Heart Network, there were 11.3 million cardiovascular disorder cases in Europe, in 2015. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This rising older population is likely to lead to rising patient population which will enhance the growth of the cardiac rehabilitation devices market in Europe.
Asia Pacific is expected to be the fastest growing market. Increasing prevalence of chronic diseases is the major driver for the market growth. China is the fastest growing region owing to an increasing population leading to an increase in patient population. Rising awareness about the health and availability of new treatment methods drive the market in this region. Rising healthcare expenditure and rise in the standard of living are driving the growth of the cardiac rehabilitation devices market in the Asia Pacific region.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and weak healthcare industry scenario. In the Middle East, the United Arab Emirates is the largest market owing to the development of the healthcare industry and rising availability of specialty care centers.
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Key Players
Some of the key players in the cardiac rehabilitation devices market are LifeWatch AG, Core Health and Fitness LLC, Amer Sports, Ball Dynamics International, LLC, Mortara Instrument, Vonco Medical, The ScottCare Corporation, and others.
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