Cardiac Rehabilitation Market is Expected To Reach USD 3,018.3 Million By 2028 - Reports and Data
The cardiac rehabilitation market was valued at USD 1,840.2 Million in 2019 and is expected to reach USD 3,018.3 Million by the year 2027, at a CAGR of 6.5%. The increasing number of cardiac surgeries due to various diseases such as cholesterol, metabolism syndrome, diabetes, and other lifestyle disorders is a critical factor for market growth. Nearly 71 million adults have high cholesterol consisting of low-density lipoprotein, which is a common cause of heart disorders in the US, according to the Center for Disease Control and Prevention (CDC). Increasing prevalence of cardiac disorders such as arrhythmia, cardiomyopathy and other heart related diseases is expected to propel the market. Atrial fibrillation, a most common type of arrhythmia, has broadly affected the U.S. population. For instance, the Center for Disease Control and Prevention (CDC) estimated that about 2.7 million people in the US have atrial fibrillation, and this number is further expected to increase during forecast period.
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As cardiac disorder is a leading death causing factor, several governments have initiated different programs to promote awareness about cardiac health and available marketized products/treatments. For instance, Agency for Healthcare Research and Quality (U.S.) have initiated TAKEheart to promote use of cardiac rehabilitation. Besides, the elderly population is quite prone to heart disorders due to aging effects, becoming a critical driving factor for the cardiac rehabilitation market. Geographically, Asia Pacific is expected to give the highest market share owing to the presence of a vast elderly population in the area considering China and India. Technological advances in the healthcare industry has been playing vital card in booming the respective market. Advanced devices such as wearables, a virtual/digital solutions are developed by industry operators to capture unmet client gaps which is estimated to propel the market growth. Moreover, rising awareness could reduce the prevalence of such diseases leading to a decrease in market growth. However, high cost of cardiac rehabilitation devices, frequent product recalls might restraint the market.
Further key findings from the report suggest
- To promote continuation of business in the time of pandemic, key players of the market are engaged in developing remote access for cardiac rehabilitation. For instance, in April 2020, Duke Heart in collaboration with Population Health Sciences launched its remote cardiovascular rehabilitation
- Many countries have taken initiatives to improve cardiac health in their respective region. For instance, in January 2020, SHAKE (Saving Heart Attacks Key Efforts) an awareness program was conducted in Dubai that focused on rising awareness about heart attacks and saving lives from heart attacks.
- The technological advancements in heart surgeries and implants has driven the market further ahead. For instance, in January 2020, Abbott received an FDA clearance for its less invasive heart pump implant procedure to replace need of open heart surgery. Increasing demand for minimally-invasive procedure is estimated to support the market growth in future
- To engage the users for longer time market players are developing new efficient products. For instance, in September 2019, Mindray launched BeneHeart C Series a new automated external defibrillator (AED) with smart and quick shock delivery to offer enhanced resuscitation in case of cardiac arrest
- In August 2019, Phillips launched defibrillator “HeartStart” in connection with IntelliSpace. The solution let clinicians/physicians examine and treat at every stage in emergency care for both prehospital and hospital settings. The device is commercially available in Europe and other select markets in Asia and Africa
- Based on product types Elliptical trainer accounted USD 636.5 million market revenue in 2019, with highest market share.
- Based on end user, hospitals accounted highest market share in 2019 and home healthcare is expected to grow significantly during 2020-2027.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Cedars-Sinai, Cleveland clinic, Mayo Foundation for Medical Education and Research (MFMER), Ball Dynamics International LLC, Core Health and Fitness, Omron corporations, Honeywell International, Inc., BioTelemetry Inc, Koninklijke Philips N.V., and Smiths Group
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Cardiac Rehabilitation Market Segmentation:
Device Types Outlook (Revenue in Million USD; 2020–2028)
- Blood pressure Monitor
- Heart Rate Monitor
- Stabilization ball
Applications Outlook (Revenue in Million USD; 2020–2028)
- Coronary artery disease
- Cholesterol management
- Heart and lung transplant
- Heart valve surgery
- Pulmonary hypertension
- Metabolic syndrome
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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