Cardiac Rehabilitation Devices are used as means for improving the health of patients who are diagnosed with different heart-related conditions like congestive heart failure, cardiovascular disease, and also those who have undergone heart surgeries like angioplasty or bypass surgery. As per the study undertaken by Market Research Future (MRFR), it is reported that the global cardiac rehabilitation devices Market is expected to grow at a rate of 6% over the forecast period between 2017 and 2023.
The Cardiac Rehabilitation Devices Market is primarily driven by factors such as increasing geriatric population, high incidences of obesity, and prevalence of cardiovascular diseases. Add to this, other factors influencing a positive growth in the region are growing government support and investment, increasing awareness concerning cardiovascular diseases, proliferating demand for advanced forms of treatment, increasing incidences of research and clinical trials of these devices, and growing number of market players offering new and developed products.
However, factors such as lack of skilled personnel and high cost associated with initial investment is most likely to dampen the growth of the global cardiac rehabilitation market during the forecast period.
Cardiac Rehabilitation Devices Market – Competitive Landscape
The Global Cardiac Rehabilitation Devices Market holds key players like Ball Dynamics International, LLC, Vonco Medical, Core Health and Fitness LLC, The ScottCare Corporation, LifeWatch AG, Amer Sports, Mortara Instrument, and others.
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March 5th, 2019, a team of researchers from Skoltech announced the creation of a device that can help in monitoring the cardiovascular system of a cosmonaut during space mission, pre-flight training, and after-flight rehabilitation.
March 21st, 2019, South Denver Cardiology Associates announced its offering of an all new Intensive Cardiac program that would involve the usage of Pritikin ICR (Intensive Cardiac Rehabilitation) Program for treating patients with cardiac disorders.
Cardiac Rehabilitation Devices Market – Segmentation
The Global Cardiac Rehabilitation Devices Market segmentation is based on type and end-user.
By type, the market segments into stationary bicycle, blood flow monitors, ellipticals, training balls, recumbent cross trainer, heart rate monitors, treadmill, and others.
By end-user, the market includes specialty centers, hospitals and clinics, rehab centers, and others.
Cardiac Rehabilitation Devices Market – Regional Analysis
The Global Cardiac Rehabilitation Devices Market is geographically segmented across North America, Europe, Asia Pacific, and the Middle East and Africa.
The North American region holds the highest market share percentage in the global landscape and is poised to experience massive growth in the forthcoming years. Herein, the growing old-age population and widespread prevalence of cardiovascular rates are identified as two key factors influencing the growth of the market. In addition to these, the increasing number of approvals given for cardiovascular devices, expanding healthcare expenditure, increasing support from the government, and surging demand for technologically advanced treatments, solutions, and products. The North American market is segmented into the US and Canada, wherein the former holds the dominant share of the market. This is due to the prevalence of cardiovascular disorders. A report published in 2014 by the American Heart Association revealed that over 801,000 people were dead due to some form of cardiovascular disorders.
Europe follows-up North America as the second largest global market for cardiac rehabilitation devices. It holds a healthy share in the global landscape and is expected to grow in a decent fashion during the forecast period due to increasing healthcare expenditure, availability of new and advanced treatment facilities, and an imperative need for better healthcare infrastructure. Moreover, rising incidences of cardiovascular disorders couple with a major shift in preference towards sedentary lifestyle from consumers is also expected to drive the global market. A report published by Eurostat revealed that in 2015 more than 19.2% of the European population was found to be aged 65 years or above. The expanding old age population is expected to increase the overall pool of patients and subsequently enhance the growth of the market.
Asia Pacific is reported to be the fastest growing region in the global cardiac rehabilitation devices market. Increasing incidences of chronic diseases is one of the major drivers behind the growth of this regional market. China holds the fastest growing potential in this region due to an increasing patient population. The Asia Pacific region is also driven by factors such as rising health awareness, rising healthcare expenditure, enhanced standard of living, and availability of new methods of treatment.
Lastly, the Middle East and Africa region is expected to garner the least growth during the forecast period due to lack of awareness concerning cardiac disorders and a weak healthcare landscape.
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