A Global market Insights, Inc. report estimates that wearable cardiac devices market will cross $6.2 Billion by 2026. It is expected to expand at more than 22% CAGR during forecast period 2020 to 2026. Wearable cardiac devices have immense potential for segment growth as these serve patients during high risk of heart attack with timely measures even in the absence of cardiologist.
Wearable devices are getting the trend because of being non-invasive, small skin patches, and light weight, and the patients don’t have to experience painful implantation procedures in order to do continuous recording of cardiac parameters. New wearable technology has userfriendly nature that’s why this new type has gained more recognition and high demand in last few years. The demand will continue to spur in upcoming years.
The report says according to the World Health Organization there are about four of the five cardiovascular deaths due to strokes or heart attacks. While the devices including Zoll LifeVest Wearable Debrillator unendingly track the heart rhythms of patient’s who are prone to heart attack. The devices deliver the shock when the patient does not respond after respective number of warnings.
North America contributed more than 60% of the wearable cardiac devices market share in 2019 and the report estimates it to grow at momentous rate in the future as well. The embracement by the U.S. citizens for the innovative devices and changing digital health industry will be majorly spur the growth in wearable cardiac market.
Due to the requirement of the long-term and continuous monitoring of cardiac health indicators after increasing prevalence of cardiovascular diseases will boost the wearable cardiac devices demand. Few more advancements in the wearable cardiac devices like miniaturization is leading to affordable devices and thus will stimulate adoption rate. Heightening demand for distant patient monitoring devices by cardiologists and home healthcare devices will impact positively on the market size.
While major players operating in wearable cardiac devices include but not limited the Zoll Medical Corporation, iRhythm Technologies, Welch Allyn, BioTelemetry, Philips.