August 24, 2020
According to the recent research report titled ‘Wearable Cardiac Devices Market Size By Product (Holter Monitors, Patch, Defibrillators) By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global wearable cardiac devices market is projected to record substantial growth during 2020-2026.
Increasing instances of cardiovascular diseases, shifting preferences towards minimally invasive devices, and robust technological advancements are the key factors driving the growth of global wearable cardiac devices market. In addition, rising awareness about benefits of wearables in tandem with easy usage and low cost are likely to influence the market size.
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Wearable technologies offer an innovative solution to various healthcare issues enabling continuous monitoring of physical activities and behavior of a person. They can also monitor physiological and biochemical parameters of a human on a regular basis. Data such as physical activities, heart rate, posture, body temperature, blood pressure, along with blood oxygen saturation using ECG (electrocardiogram), BCG (ballistocardiogram), and other devices.
This technology measures heart activity of patients who are outside the clinical environment. The heart analysis can be done over a wide range of daily conditions without interfering in the routine of the patient. Researchers have developed textile-based wearables, which offer ECG recording, respiration unobtrusive, and accelerometric data. Additionally, researches have developed a continuous and portable BCG monitor, a device which provides important information regarding cardiac contractility and can be worn in the ear.
Speaking of product type, global wearable cardiac devices market is divided into holter monitors, patch, defibrillators, and others. The report cites that the patch segment is projected to register decent growth over the study period. This growth is attributable to easy handling, product launch, as well as monitoring of device by patient without the intervention of doctor.
Based on application spectrum, the industry is bifurcated into home healthcare, remote patient monitoring, and others. The remote patient monitoring segment is likely to amass USD 1.5 billion and grow substantially over the forecast timespan. This growth is credited to decrease in number of hospital visits and thus low cost, increasing adoption of these technologies in developing economies, and monitoring of significant cardiac indicators irrespective of their location.
Citing the regional landscape, North America is projected to record a CAGR of 22.9% and is slated to grow substantially over the analysis period. This regional growth is credited to rising cognizance & adoption, increasing disposable income, and surging demand for non-invasive devices.
Major contenders in global wearable cardiac devices market are Proteus Digital Health, Qardio Inc., Cardiac Rhythm, Biotelemetry Inc., ZOLL Medical Corporation, VitalConnect, Welch Allyn (Hillrom Services Inc.), and iRhtythm Technologies Inc.