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Wearable cardiac devices market has been impacted positively due to the pandemic in the year 2020. Advances in technologies which help to monitor the health of patients are predicted to be the major driving factor for the market. Moreover, rising cases of cardiovascular diseases is predicted to boost the market in the forecast period. Data accuracy is predicted to hamper the market in the estimated period. Moreover, growing adoption of these devices is predicted to create more growth opportunities in the forecast period. For instance, in july 2020, AliveCor launched KardiaCare subscription service that measures the impact of positive lifestyle changes as part of a long-term heart care program.
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According to a study conducted by Research Dive, the global wearable cardiac devices market is expected to register a revenue of $7,733.1 million till 2027, growing at a rate of 26.5% CAGR during, 2019-2027. The global market is classified Depending on Product, application field, and end use. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.
As per our analyst, rising incidents of cardiovascular diseases are predicted to be the biggest driving factor for the market in the estimated period. Moreover, issues with data accuracy is predicted to hinder the market in the forecast period.
Depending on product, the wearable cardiac devices market is divided into holter monitors, patch, defibrillator and others. Patch segment is predicted to grow at a CAGR of 27.0% by generating a revenue of $3,193.8 million by 2027. Rise in cardiovascular diseases and rising awareness among the people for timely monitoring of physical health is predicted to drive the segment in the forecast period,
Depending on component, the wearable cardiac devices market is divided into home healthcare, remote patient monitoring and others. Home healthcare is predicted to grow at a CAGR of 27.2% by generating a revenue of $ 3,070.1 million by 2027. Growing advancement in technology and increase in the elderly population is projected to boost the segment in the estimated timeframe.
Regional Breakdown of the Market
Depending on region, the wearable cardiac devices market is divided into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific region market is predicted grow at a CAGR of 26.7% by generating a revenue of $2,358.6 million by 2027. Presence of large number of manufacturing and pharmaceutical companies is predicted to drive the segment in the estimated timeframe. Moreover, increasing investment in research and development by majorities of the company is foreseen to boost the market in the projected timeframe.
Top 10 Prominent players operating in the Global Wearable Cardiac Devices Market include:
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