Wearable Cardiac Devices Market 2020 By Regional Trend & Growth Forecast To 2026

Wearable Cardiac Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The global wearable cardiac devices industry is estimated to foresee significant growth over the forthcoming timespan due to the growing awareness about the several benefits of these devices. Additionally, other features like low cost and ease of use of the product are further increase their deployment across the globe. Wearable technologies can be advanced using innovative solutions in the coming years owing to several arising healthcare problems which is further augmenting the overall market size. Wearable technologies allow consistent monitoring of physical activities and human behaviors along with physiological and biochemical parameters in day to day routine of a patient. Moreover, the convenience and ease of use offered by these devices is also likely to drive their demand.

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Technological advancements resulting in the innovation of new products with higher efficiency is a major determinant shaping the wearable cardiac devices market outlook. Taking May 2020 for instance, an ingenious necklace that is capable of detecting abnormal heart rhythms in patients was showcased for the first time on the EHRA Essentials 4 You, an ESC (European Society of Cardiology) scientific platform.

In terms of product, the market is categorized into patch, defibrillators, Holter monitors, and others. Of these, the patch segment is projected to foresee immense growth due to the frequent product launches. In addition, other factors like ease of handling and monitoring by patients without needing help from a doctor, is driving its demand in the industry. The patch segment is estimated to expand at a tremendous CAGR of more than 26.7% through the analysis period.

With respect to application, the market is classified into home healthcare, remote patient monitoring, and others. A significant drop in the hospital visit and eventually reducing cost is the prime factor augmenting the demand for remote patient monitoring. In addition, monitoring crucial cardiac indicators from any particular location, and rising implementation of remote patient monitoring technologies across developing nations is likely to complement the overall segment size over the coming years. In fact, the segment is expected to exceed a valuation of $1.5 billion by the end of 2026.

On the regional front, the North America wearable cardiac devices industry is projected to observe significant growth owing to the increasing product adoption in the region. In addition, the rising demand for non-invasive devices, growing disposable income, as well as rising awareness about wearable cardiac devices should further complement the regional industry share. The North America wearable cardiac devices industry is projected to expand at a healthy CAGR of more than 22.9% through the analysis period.

Key companies in the wearable cardiac devices industry are focusing on product launches, partnerships, and acquisitions in order to expand their footprint and boost revenues. Citing an instance, in January 2019, BioTelemetry purchased Geneva Healthcare for a total amount of $45 million. Geneva Healthcare is a remote monitoring company producing remote monitoring technology used in the implantable cardiac devices.

The competitive landscape of the wearable cardiac devices market is inclusive of players such as iRhtythm Technologies Inc., Proteus Digital Health, ZOLL Medical Corporation, Cardiac Rhythm, Biotelemetry Inc., VitalConnect, Qardio Inc., Welch Allyn (Hillrom Services Inc.) among others. 

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Partial Chapter of the Table of Content 

Chapter 4. Wearable Cardiac devices Market, By Product

4.1. Key segment trends

4.2. Holter monitors

4.2.1.    Market size, by region, 2015 - 2026 (USD Million)

4.3. Patch

4.3.1.    Market size, by region, 2015 - 2026 (USD Million)

4.4. Defibrillators

4.4.1.    Market size, by region, 2015 - 2026 (USD Million)

4.5. Others

4.5.1.    Market size, by region, 2015 - 2026 (USD Million)

Chapter 5. Wearable Cardiac Devices Market, By Application

5.1. Key segment trends

5.2. Home healthcare

5.2.1.    Market size, by region, 2015 - 2026 (USD Million)

5.3. Remote patient monitoring

5.3.1.    Market size, by region, 2015 - 2026 (USD Million)

5.4. Others

5.4.1.    Market size, by region, 2015 - 2026 (USD Million)