The global cardiac rehabilitation market was valued at USD 1,840.2 Million in 2020 and is expected to reach USD 3,018.3 Million by 2030, at a CAGR of 6.5%. Cardiovascular diseases (CVDs) are the dominant cause of death across the world. Moreover, it has been estimated that nearly 17.9 million suffer from cardiac disease each year. Nearly 4 out of 5 CVD deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age according to the WHO. Technological developments in the field is estimated to drive market growth prominently. For instance, Tele-cardiac rehabilitation is a cost-effective service provided from a distance using information technology and telecommunication for example, e-cardiology and e-health.
Pandemic outbreak of COVID-19 has impacted the market growth negatively owing to the disrupted supply chain and postponed check-ups; to eliminate risk of discontinuation market players are engaged in developing remote cardiac rehabilitation. The vital drivers of the cardiac rehabilitation market include geriatrics and lifestyle. An unhealthy lifestyle habits have anticipated the frequency of cardiovascular diseases in middle-aged people as this population is more acquainted with improper diet and stress, which are contributing factors for cardiac conditions.
Favorable reimbursement policies for the market is another major factor driving the growth of cardiac rehabilitation. Insurers like Medicare, Medicaid covers cardiac rehabilitation programs. Part B of Medicare covers cardiac rehabilitation services being provided at physician’s office, hospitals or hospital outpatient facilities like emergency clinics, surgery clinics or palliative care units. The high cost of treatment might obstruct the market growth. However, rising awareness among the people about cardiovascular diseases has proven to be a restraint to the market. Several government policies and global programs promote a healthy and disease-free lifestyle that raises awareness among the people.
Device Types Outlook:
The segment of elliptical trainer product type dominated the global market and accounted significant market revenue in 2020. Increasing rate of heart related disorders, technological developments are major factors driving the market growth of segment. The type is further bifurcated as upright and seated.
Blood pressure monitoring product type is expected to grow at significant rate. The rising incidences of hypertension and technological developments are estimated boom the demand for B.P. monitoring
The segment of angioplasty dominated the market in 2020. Increasing incidences of heart failure, heart attack, ischemia and other heart related disorders, and availability of skilled services are major drivers booming the market growth of angioplasty.
Cardiac centers are expected to conquer future opportunities. Owing to it the faster reach to approach the unmet needs of users through the services, and specialty skilled professionals.
North America dominated the cardiac rehabilitation market with a revenue of 776.8 million in 2020. Due to the higher rate of obesity caused heart problems, and adoption of developed technologies the region is expected to dominate in 2020.
The Asia Pacific is expected to be seeing substantial growth as a result of an increased prevalence of diabetes, higher presence of elderly population residing in Asia Pacific is expected to help regional market growth.
The market in Europe and the rest of the world has a possible future opportunity for expansion as the population in countries such as Brazil, South Africa, the UAE, Germany, U.K, and France are aging at fast pace. Thus, it is expected to boost the market demand in the respective region.
Companies considered and profiled in this market study
The key players in the market include Cedars-Sinai, Cleveland clinic, Mayo Foundation for Medical Education and Research (MFMER), Ball Dynamics International LLC, Core Health and Fitness, Omron corporations, Honeywell International, Inc., BioTelemetry Inc, Koninklijke Philips N.V., and Smiths Group.
The players operating in the market have undertaken several strategies related to the market in the period 2017-2020. The key highlight is:
The industry offers numerous growth opportunities. Hence, numerous startups providing innovative products and technologies have been entering the market. Some of them include GOQii, Movn, Chanl Health, Element Science, HeartHero and many more.
Startups involved in market are engaged in developing technologically developed cardiac rehabilitation solutions such as app-based solution, wearables. Favorable investment has motivated entrance of new entrants in the market. For instance, in March 2020, succeed to rise investment of approximately USD 145.6 million for wearable defibrillator.
Several marketing strategies such as Mergers & Acquisitions, product developments are an integral part of the cardiac rehabilitation. Along with the companies operating in the market, other key market players have also been entering the industry.
Reports and Data forecast promising developments for increased adoption of artificial conception. The companies are developing new product concepts to achieve the unmet needs of user. According to market experts, new manufacturers are expected to enter the market, which is likely to change the scenario. Established as well as emerging companies entering the industry are more focused on developing technologically advanced and user-friendly products thereby to increase client adherence to brand. The new entrants in the market are primarily focused developing cost-effective products or app to offer efficient services and expansion of product line in the cardiac rehabilitation market.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2030. The scope of the report can be defined as:
For the purpose of this report, Reports and Data has segmented the Cardiac Rehabilitation market on the basis of device type, application, end use and region:
Device Types Outlook (Revenue in Million USD; 2020–2030)
Applications Outlook (Revenue in Million USD; 2020–2030)
End Use Outlook (Revenue in Million USD; 2020–2030)
Regional Outlook (Revenue in Million USD; 2020–2030)