Cardiac Rehabilitation Devices Market is expected grow USD 1,956.77 Million at a CAGR 5.60% during the forecast period 2022-2030.
The cardiac rehabilitation devices market size is projected to reach approximately USD 1,956.77 Million by 2030, at a CAGR of 5.60% from 2022 to 2030. Cardiac rehabilitation (CR) is a sophisticated inter-professional treatment tailored to the needs of specific patients with a range of cardiovascular conditions, including heart attack, coronary artery disease, and myocardial infarction. A cardiac rehabilitation program aims to reduce the physiological and psychological strains these cardiovascular diseases have on patients. Due to the rising incidence of degenerative illnesses, including Parkinson's, Alzheimer's, arthritis, and the rising number of trauma victims who need rehabilitation therapy, there is a high potential of Cardiac Rehabilitation Devices market growth.
An increasingly elderly population is also anticipated to fuel the market throughout the expected time frame. Worldwide demand for everyday assistance equipment for the disabled population is rising quickly. Manufacturers' new communication channels have increased consumer awareness of newly released items. Patients are, therefore, kept up to date on new products entering the market. The simple financing, subsidies, and other financing alternatives offered by local governments in numerous nations for rehabilitation equipment are anticipated to increase demand for assistive items, which will, in turn, contribute to Cardiac Rehabilitation Devices market growth. All these factors are expected to drive the cardiac rehabilitation devices market report.
COVID-19 Impact Analysis
The market for cardiac rehabilitation devices suffered from the COVID-19 outbreak. The COVID-19 pandemic has resulted in various government restrictions. However, they were only placed on non-essential healthcare services, such as non-urgent outpatient appointments. As a result, all cardiac rehabilitation programs worldwide were temporarily shut down due to lockdown restrictions. In the pandemic days, the production of cardiac rehabilitation devices to check on a patient's heart function in the case of a COVID-19 patient was accelerating quickly. Given the complexity of the virus and the demand for heart rate monitoring equipment, the pandemic had functioned as a driver for the market for cardiac rehabilitation devices. The government provided this industry with great support and assistance to protect it from the pandemic's adverse effects.
Cardiac Rehabilitation Devices Market Dynamics
New cardiac disorders, including heart attacks and heart failure, are being brought on by an unhealthy lifestyle. The sales of cardiac rehabilitation devices are driven by technologically sophisticated equipment that makes simple surgical procedures possible. These systems assist users with exercises, diet, stress management, training, and maintaining & monitoring the daily development of the health routine. The nutrition and diet planning units and clinics are the primary consumers of it. Governmental lockdowns and travel restrictions have caused people to embrace an unhealthy lifestyle because gyms and other public exercise facilities were closed, forcing them to find new ways to monitor their health. Lockdowns related to COVID-19 have reduced the number of patients entering hospitals, allowing medical facilities to implement a cardiac rehabilitation program.
CR is a healthcare innovation that aids in reducing obesity and improving cardiovascular health. These medical procedures transform the industry and benefit patients with cardiovascular diseases when combined with platforms like artificial intelligence, machine learning, and especially the internet of things (IoT). The market for cardiac rehabilitation devices offers the healthcare industry several options, including lowering cholesterol, reducing obesity, lowering stress levels, and assisting patients in improving their heart diseases. Reduced stress levels and improved physiological health make this possible. These aspects enhance the experience of treating cardiovascular diseases, which drives the sales of cardiac rehabilitation devices in new settings. For instance, in February 2022, InBody, a innovator in body composition technology, introduced the BP 170 blood pressure monitor, allowing users to track and self-record important parameters at home.
The high price range of these devices is one of the main obstacles or limitations holding back the market. The high cost of purchasing cardiac rehabilitation equipment and devices and the expense of maintaining these devices are anticipated to restrain the market's expansion. The already damaged markets are not prepared to invest significantly in cardiac rehabilitation programs, limiting market expansion.
Cardiac and pulmonary rehabilitation instruments that provide accurate and reliable vitals about the heart and blood pressure rate can be used for real-time monitoring. A new development in cardiac devices incorporating AI platforms makes the instruments adaptable and practical for end users. The government is being pushed to launch projects to educate citizens about the health dangers associated with cardiovascular diseases and the rising prevalence of cardiovascular disease in many first-world countries. As patients with obesity-related conditions rise, healthcare facilities adopt cardiac rehabilitation programs. These elements influence market trends for cardiac rehabilitation devices, enabling them to establish roots in new market sectors.
Device Type Insights
The cardiac rehabilitation devices market segmentation, based on device type, is segmented into blood pressure monitors, stability balls, treadmills, rowers, elliptical trainers, and heart rate monitors. The treadmill segment dominated the market in 2021. Based on the cardiac rehabilitation devices market forecast, this trend is anticipated to persist throughout the forecast period. The dominance results from increased demand for this equipment when performing cardiac rehabilitation programs in various settings and the rising prevalence of cardiovascular disorders. However, the blood pressure monitor segment is predicted to grow considerably throughout the forecast period due to people's desire to maintain physical fitness. For instance, cardiac rehabilitation devices from GE healthcare have been made available. These systems operate at various stages of the rehabilitation procedures, improving the patient experience.
Patient Type Insights
The cardiac rehabilitation devices market segmentation, based on patient type, is divided into percutaneous coronary intervention, myocardial ischemia, coronary artery bypass grafting, and coronary artery disease. Due to an increase in the prevalence of coronary heart disease among the general population, the coronary artery disease segment dominated the market in 2021. This trend is anticipated to continue throughout the forecast period. However, due to the rise in occurrences of obstructive coronary artery disease among the general population, the percutaneous coronary intervention segment is anticipated to have significant growth throughout the projected period.
Based on end-user, cardiac rehabilitation devices market segmentation is broken down into hospitals, clinics, rehab centers, specialty centers, research centers, and hospitals. The rehab centers segment dominated the market in 2021 due to increased health consciousness among people and an increased number of rehab centers offering rehabilitation therapies across developed and emerging countries. This trend is anticipated to continue throughout the forecast period. In addition, due to an increase in heart disease patients and hospital admissions, the hospital segment is expected to expand significantly during the projection period. For instance, in February 2021, RhythMedix introduced the 4G cellular connectivity-equipped next-generation cardiac monitor RhythmStar. Due to the COVID-19 pandemic, there was an increased need for cardiac rehabilitation devices, which is expected to affect the market positively.
Based on phase, the cardiac rehabilitation devices market is classified into phases I, II, and III. Phase III CR devices dominated the market share in 2021 as they come with digital meters for ease and better experience for heart patients. This expansion was due to the growing demand for real-time vital sign monitoring devices. Due to the ease of use, portability, and storage of digital meters, their demand is greater than that of conventional manual meters. For instance, core health & fitness has introduced its cardio, treadmill, elliptical, indoor cycling, and trail hiker cardiac rehabilitation, driving up sales of cardiac rehabilitation devices.
Global Cardiac Rehabilitation Devices Market Share, by region, 2021 (%)
Cardiac Rehabilitation Devices Market Overview, by region
By region, the cardiac rehabilitation devices market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.
Regarding market share and revenue, North America dominated the market in 2021 due to the region's rising rates of cardiovascular diseases, such as hypertension, strokes, and coronary heart diseases. Due to its vast population and changing lifestyle, the United States accounts for a significant portion of North America's burden of cardiovascular disease. According to estimates, heart disease is the leading cause of mortality in the United States.
As per the Cardiac Rehabilitation Devices research, Asia-Pacific is expected to have the highest CAGR over the projection period due to the region's increasing infrastructure, adoption of technological advancements, rise in the number of people who value their health and fitness and expanding senior population. It is projected that expanding infrastructure and technological innovation adoption will lead to this rise. demand for cardiac rehabilitation devices is growing due to an aging population and an increase in the number of people who are health and fitness aware.
Cardiac Rehabilitation Devices Market Competitive Landscape
The market forecast under investigation is relatively competitive and dominated by foreign competitors. Medical device businesses are concentrating more on new product development, increasing competition among the major competitors to offer patients technologically cutting-edge solutions. Nevertheless, it is anticipated that a few small to mid-sized businesses may enter the market shortly and seize a sizeable portion of the industry under study. The competitive environment in cardiac rehabilitation therapy is dynamic, which encourages the growth of new businesses and raises the level of competition. The market's companies participate in mergers and partnerships that widen market spaces and distribution channels. These businesses concentrate on modernizing the pricing points, making them usable, and enhancing security measures. For instance, in September 2021, Meditech, a producer of ambulatory blood pressure monitors (ABPM) and ECG Holter devices, was acquired by SunTech Medical, a Halma Company. SunTech hoped to better serve customers through this transaction by utilizing the two companies' extensive expertise in blood pressure (BP). Furthermore, in May 2021, Midwest-based providers of fitness technology called Shape Log and Life Fitness partnered. This alliance sought to give exercisers data-driven strength training experiences and the data insights trainers need to help their clients achieve their unique fitness goals.
Prominent players in the market include Brunswick Corporation (Rosemont, Illinois), Core Health & Fitness LLC (Calgary, Alberta), Amer Sports (Helsinki, Finland), OMRON Corporation (Japan), Honey well International Inc. (Morris Plains, New Jersey), The ScottCare Corporation (US), BioTelemetry Inc. (Malvern, PA), Schiller (US), LSI (US), Ergoline GmbH (UK), Scifit (Brunswick, US), Ball Dynamics International LLC, Core Health & Fitness LLC, Philips, Smiths Group, Halma plc., LifeWatch AG and Patterson Companies Inc.
Scope of the Cardiac Rehabilitation Devices Market Report
Device Type Outlook
Patient Type Outlook
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Cardiac Rehabilitation Devices Market Forecast & Size:
To identify and estimate the Cardiac Rehabilitation Devices market size for the market segmented by device type, phase, patient type, and end-user, by value (in US dollars). Also, to understand the consumption/demand created by consumers of cardiac rehabilitation devices between 2022 and 2030
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the market
Market Influencing Factors:
To find out the factors which are affecting the sales of cardiac rehabilitation devices among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 1,956.77 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Device Type, Phase, Patient Type, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Brunswick Corporation (Rosemont, Illinois), Core Health & Fitness LLC (Calgary, Alberta), Amer Sports (Helsinki, Finland), OMRON Corporation (Japan), Honey well International Inc. (Morris Plains, New Jersey), The ScottCare Corporation (US), BioTelemetry Inc. (Malvern, PA), Schiller (US), LSI (US). Ergoline GmbH (UK), Scifit (Brunswick, US), Ball Dynamics International LLC, Core Health & Fitness LLC, Philips, Smiths Group, Halma plc., LifeWatch AG, and Patterson Companies Inc|
|Key Market Opportunities||Integration of cardiac rehabilitation devices with artificial intelligence (AI)|
|Key Market Drivers||Advancement in Healthcare Technologies|
The study period of the market is 2022 - 2030
The market is growing at a CAGR of ~5.60% over the next 8 years.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
Brunswick Corporation (Rosemont, Illinois), Core Health & Fitness LLC (Calgary, Alberta), Amer Sports (Helsinki, Finland) are the major companies operating in the cardiac rehabilitation devices market.