Wearable Cardioverter Defibrillators Market size is poised to reach USD 24 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of wearable cardioverter defibrillators was USD 14 Billion. The reason behind the growth is due to the rising incidence of cardiovascular diseases across the globe. Cardiovascular disease deaths have increased by more than 55% worldwide in the past 30 years.
Diabetes-related high blood sugar levels can harm the nerves that control the heart and blood vessels, resulting in a variety of cardiovascular diseases such as coronary artery disease, which affects the electrical conduction system in the heart, causing ventricular arrhythmias and atrial fibrillation. This increases the demand for common cardiac disease and rhythm monitoring, which is likely to boost market growth.
The growing technological advancement in cardiology are believed to fuel the market growth. For instance, artificial intelligence (AI) components are already being utilized in radiology and cardiology's backends including wearable cardiac monitoring devices and point-of-care (POC) triage apps that are being utilized with wearables or smartphone-based apps that record ECG to automatically detect arrhythmias and notify patients.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~6% |
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Base Year Market Size (2023) |
~ USD 14 Billion |
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Forecast Year Market Size (2036) |
~ USD 24 Billion |
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Regional Scope |
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Indication (Myocardial Infarction, Congenital Heart Disease, Ventricular Arrhythmias, Peripartum Cardiomyopathy, Tetralogy Of Fallot, Wolff-Parkinson-White Syndrome)
The peripartum cardiomyopathy segment is estimated to hold 40% share of the global wearable cardioverter defibrillators market in the coming years. Pregnancy-associated cardiomyopathy, commonly known as peripartum cardiomyopathy, is a kind of systolic heart failure (HF) with a reduced left ventricular ejection fraction (LVEF) that affects women who are pregnant or in the months following delivery. Moreover, it is an unusual kind of heart failure that usually manifests with decreased ejection fraction (HFrEF) and is a potentially fatal disorder. This is expected to fuel the demand for a wearable cardioverter defibrillator as it can safely record and stop life-threatening arrhythmias, making it useful for illnesses such as peripartum cardiomyopathy.
End-user (Home Care Settings, Hospitals, Cardiology Clinics, Ambulatory Surgical Center)
The home care settings segment is set to garner a notable share. It is the preferred way of treating patients to preserve their independence and remain in the comfort of their surroundings. Moreover, more people nowadays are focusing more on spending on resources for proper care at home. Furthermore, with the advancement in medical technology, physicians can now assist their patients virtually, which has further led to the increasing acceptance of home care settings. The hospital segment has accounted for a significant market share in the past years and is anticipated to play a key role in the growth of the market on account of an increasing number of hospitals providing numerous options for treatment across developing countries.
Demography (Pediatric, Adults, Geriatric)
The adults segment in the wearable cardioverter defibrillators market is anticipated to gain a robust revenue share of 79% by 2036. People with high risk of cardiovascular diseases usually include adults with hypertension, diabetes, obesity, and other diseases which may increase the demand for wearable cardioverter defibrillators as they can be used to monitor cardiovascular conditions.
Our in-depth analysis of the global market includes the following segments:
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Indication |
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Demography |
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End-User |
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North American Market Forecast
Wearable cardioverter defibrillators market in North America is predicted to account for the largest share of 38% by 2036 impelled by the rising funding in healthcare industry. As a result, more resources are available in the region for research and development of more advanced, and reliable wearable cardioverter defibrillators which would also make these devices cost-effective in the region. In 2021, U.S. health spending climbed by more than 2% to reach over USD 4 trillion.
APAC Market Statistics
The APAC wearable cardioverter defibrillators market is estimated to be the second largest, during the forecast timeframe led by increase in investment towards the medical device sector from government and private entities to maintain the highest quality of services. The Indian government supports the production of medical devices in the country by offering various programs and subsidies under several ministries which has spread the word in the community about the value of leading a healthy lifestyle and the right of everyone to get high-quality medical care. This has led to an increase in demand for various advanced medical devices such as wearable cardioverter defibrillators in the region.
Author Credits: Radhika Gupta, Shivam Bhutani
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