Wearable Cardioverter Defibrillators Market Trends

Growth Drivers

• Rising Elderly Population – The number of cardiac arrests among the elderly is expected to rise in the coming decades, as men and the elderly are most vulnerable to cardiac arrest. According to the World Health Organization (WHO), the number of people aged 60 and up will double to 2.1 billion worldwide by 2050.
• Growing Popularity of Minimally Invasive Procedures- The wearable cardioverter-defibrillator (WCD) is a temporary, non-invasive device that is often given to individuals who are at high risk of arrhythmia.
• Spiking Incidence of Diabetes- Cardiovascular disease is two to four times more common in people with diabetes than in the general population as high blood sugar levels have the potential to harm heart-controlling neurons and blood arteries over time. By 2030, it is expected that the prevalence of type 2 diabetes will rise to over 7070 cases per 100,000 people worldwide.
• Increasing Launch of New Products by Major Market Players- For instance, in August 2021, Kestra Medical Technologies received approval from the FDA for an Assure wearable cardioverter defibrillator (WCD) system with integrated sensors, a cardiac rhythm monitor, and a miniaturized automated external defibrillator, to assess a patient's cardiac rhythm, and safely provide defibrillation therapy to return a patient's heart to normal to safeguard patients at risk of sudden cardiac death (SCD).
• Growing Consumption of Alcohol- One of the main causes of cardiac arrest is alcohol consumption, which also weakens the heart and can cause hypertension and cardiomyopathy, a condition that damages the heart muscle. For instance, every year, alcohol use results in over 2 million premature deaths worldwide.

Challenges

• Limited Awareness among People in Developing Countries - In developing countries, the knowledge about the cardioverter-defibrillator is still minimal, which may act as a barrier to the development of the wearable cardioverter defibrillators market. Furthermore, in various low-income countries, there are no strict standards and regulations to evaluate the wearable cardioverter defibrillators' safety and quality. The poorly developed standards across multiple nations have further hindered the usage of wearable cardioverter defibrillators.
• Stringent Government Regulations can Pose Challenge for Manufacturers
• High Cost of Wearable Cardioverter Defibrillators can Limit the Adoption and Access for Certain Individuals