Wearable Cardiac Monitors Market: Introduction
Technological innovations and the digital revolution have transformed the healthcare industry Wireless and digital devices are integrated as part of the healthcare industry. Manufacturers are also introducing new technologically advanced, comfortable, and easy to use devices in cardiac care business. Demand for cardiac care products such as cardiac monitors is gaining high demand. In the cardiac monitors sectors, manufacturers are introducing wearable cardiac monitors which offered as replacement of the bulky, expensive monitors that require leads to be attached to different points on their bodies. Wearable cardiac monitors are simple, inexpensive, easy to use, and leadless cardiac monitors. Wearable cardiac monitors eliminate the need for the need of the electrode wires and the devices and can interface wirelessly with cellular-enabled devices. Wearable cardiac monitors are the next generation cardiac monitors allow, remote monitoring, data recording, and wireless transfer. Wearable cardiac monitors use application-specific integrated circuits for acquisition ECG pattern and the cardiac parameter that can be linked to smartphones. A shift towards wireless sensor-based wearable cardiac monitors expected to propel the growth of the market.
Wearable Cardiac Monitors Market: Drivers and Restraints
Increasing prevalence of cardiac disorders, high blood pressure, and obesity drive the growth of the wearable cardiac monitors market. According to Center of Disease Control & Prevention, around 2.7 to 6.1 Mn people in the U.S. have atrial fibrillation in 2017. A cardiac condition such as atrial fibrillation and arrhythmia require continuous monitoring. The increasing aging population and growing healthcare expenditure favor demand for the wearable cardiac monitors. Moreover, the cost-effectiveness of the devices, easy to use feature, wireless monitoring and data transferring capabilities compare to traditional cardiac monitors expected to spur the growth of the wearable cardiac monitors market. However, the lack of healthcare awareness among people, low healthcare expenditure in the low income and rural countries expected to hamper the growth of the wearable cardiac monitors market.
Wearable Cardiac Monitors Market: Segmentation
Tentatively, the global wearable cardiac monitors market can be segmented on the basis of product type, end user, and geography.
Based on product type, the global wearable cardiac monitors market is segmented as:
- Electric Pulse Based Products
- Chest Straps
- Chest Patches
- Wrist Strap
- Optical Technology Based Products
- Smart Watches
Based on application, the global wearable cardiac monitors market is segmented as:
- Medical & Clinical Use
- Consumer Use
Based on distributional sales, the global wearable cardiac monitors market is segmented as:
- Sport Medicine Centers
- Home Care Settings
- Retail Pharmacies
- Online Stores
Wearable Cardiac Monitors Market: Overview
Wearable cardiac monitors market expected to grow with double-digit growth rate as the paradigm shift towards digitalization, wireless technologies, miniaturization of the devices. Wearable cardiac monitors are easy to carry, smaller, affordable, offer faster processing time, and more accurate. Wearable cardiac monitors are available in different products such as chest straps, chest patches, wrist straps, smartwatches, and earphones. Smartwatches are gaining high demand for consumer use as increasing healthcare awareness among the general population. By distributional sales, sports medicine centers expected to grow with the higher growth rate as increasing demand for continuous cardiac monitoring among sport persons.
Wearable Cardiac Monitors Market: Regional Outlook
North America is expected to be the leading market in the global wearable cardiac monitors market, owing to the rapid adoption of new technologies, high prevalence heart disease and increasing healthcare expenditures. Europe contributes second higher revenue share in the wearable cardiac monitors market as high demand for healthcare monitoring products from the consumer. Asia Pacific wearable cardiac monitors market expected to grow with the highest growth rate as a huge population base, increasing demand for the digital and technically advanced products. China and India expected wearable cardiac monitors market are the fastest growing countries and untapped huge market growth opportunities for the market players.
Wearable Cardiac Monitors Market: Key Players
Examples of some of the key players operating in the global wearable cardiac monitors market are Medtronic Plc., Kinetec Products UK Ltd., Servier, Beurer GmbH, Medisana AG (Comfort Enterprise (Germany) GmbH), Koninklijke Philips N.V., Cambridge Heartwear Limited, Rhythm Diagnostic Systems, Inc., Alerte Digital Health, iRhythm Technologies, Inc. and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Peru, Chile, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Eastern Europe, Rest of Europe)
- CIS & Russia
- Asia Pacific Excluding Japan ( Greater China, India, South Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, S. Africa, Rest of MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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