According to FutureWise analysis the market for wearable cardiac devices in 2023 is US$ 2.92 billion, and is expected to reach US$ 17.34 billion by 2031 at a CAGR of 24.90%.
Cardiac surgery is a procedure used to treat heart tissue problems such as replacing defective heart valves (if they are blocked), grafting, or replacing damaged heart tissues. Heart surgeries are divided into two categories: closed and open. Heart difficulties, such as valvar and congenital heart disorders, are treated with a cardiac surgical device. They are used all around the world in the diagnosis and treatment of heart diseases and heart-related ailments. One of the most common causes of discomfort in medical applications around the world is cardiovascular disease, or CVD. These devices also aid in the mending of structural issues in the heart's circulation system, such as broken or clogged valves and arteries. Furthermore, with disorders like stroke and ischemic heart disease (IHD) contributing considerably to death and disability, the use of cardiovascular surgical devices and their implications in heart-related therapy has increased significantly in recent years. The market will rise as people become more aware of wearables and have a preference for homecare devices. A growing global elderly population, which is prone to a variety of chronic diseases, would increase the number of patients suffering from cardiac arrhythmias and other CVDs. Wearable cardiac gadgets will become more popular among the elderly as a result of this. The market would be primarily driven by an increase in the number of individuals suffering from various cardiovascular illnesses (CVDs). Patches, Holter monitors, and wearable ECG gadgets are examples of wearable cardiac devices that let healthcare professionals and patients monitor cardiac parameters. According to the World Health Organization, 17.9 million people die each year from cardiovascular disease. The prevalence of cardiovascular illnesses is rapidly increasing as a result of increased adoption of sedentary and unhealthy lifestyle behaviours such as excessive alcohol use and smoking.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Wearable Cardiac Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Wearable Cardiac Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.
The increasing adoption of wearable technology across the healthcare sector is likely to drive the global wearable cardiac devices market share. In addition to the rising adoption, the rising demand for the use of non-invasive devices is also expected to push product adoption over the coming years. The latest wearable devices, which come as skin patches, are non-invasive, lightweight, and small. Owing to these characteristics, the patients do not have to endure implantation procedures to obtain the capability to record their cardiac parameters continuously.
Recently available wearable devices consist of noteworthy features such as non-invasiveness, small size, and light weight. Non-invasive device adoption has been accelerating at a rapid pace globally, which in turn, is likely to add impetus to industry growth in coming years. Increasing cases of cardiovascular diseases among the population are predicted to be the major driving factor for the growth of the wearable cardiac devices market in the estimated timeframe. According to the world health organization (WHO), 17.9 million people die every year from cardiovascular diseases. Across the globe, four out of 5 cardiovascular disease deaths are due to heart attacks and strokes, and one-third of these deaths occur prematurely in people under 70 years of age.