Global Wearable Cardioverter Defibrillators Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 29, 2021--
The “Wearable Cardioverter Defibrillators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Wearable Cardioverter Defibrillator market studied is expected to grow with an estimated CAGR of 15.2% over the forecast period.
- LivaNova PLC
- Koninklijke Philips N.V.
- Zoll medical Corporation
- Stryker Corporation
- Medtronic PLC
- Nihon Kohden corporation
- Kestra Medical Technologies Inc.
- Boston Scientific Corporation
- Element Science
Key Market Trends
The Adult Segment Is Expected To Grow Faster And Dominate The Market Over The Forecast Period
The adult segment (age 20 to 59) is anticipated to hold the major share of revenue in the demography type over the forecast period. Accelerating incidence of patients suffering from cardiovascular disorders such as abnormal heart rhythms, or arrhythmias and an increase in the prevalence of these disorders in adults will accelerate the market for wearable cardioverter defibrillators. As per an article by Giuseppe Lippi (2021) titled “Global epidemiology of atrial fibrillation: An increasing epidemic and public health challenge”, estimated that the worldwide prevalence of atrial fibrillation is 37,574 million cases (0.51% of the worldwide population), which has increased by 33% during the last two decades. According to the analysis, the growing trend in prevalence and incidence of atrial fibrillation will continue to increase over the next 30 years, with a major impact expected in developing countries.
One of the leading companies in Wearable Cardioverter Defibrillator is Zoll, a major United States manufacturer of critical care devices and systems, and it became a member of the Asahi Kasei Group in April 2012. ZOLL’s wearable defibrillator called LifeVest is designed to continuously monitor heart and detect rapid heart rhythm. On detecting life-threatening arrhythmia the device automatically deliver a treatment shock to restore the patient’s heart to normal rhythm. Based on the above-mentioned facts, it is expected that the studied segment will augment over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America holds the major market share in the Wearable Cardioverter Defibrillator market and is expected to dominate the overall market throughout the forecast period.
As per the Centers for Disease Control and Prevention, the prevalence of atrial fibrillation in the United States ranged from about 2.7 million to 6.1 million by the year 2020 and is estimated to rise to 12.1 million by 2030. According to the CDC, approximately 2 percent of people younger than 65 years old have atrial fibrillation in the United States, while about 9 percent of people ages 65 and older have it. The major driver for this trend is the increasing geriatric population, which leads to an increase in the number of chronic illnesses such as diabetes, cardiovascular disease, and others. Age has a significant impact on the long-term outcomes of Atrial fibrillation ablation. According to Chris Wilkinson (2018), older people with frailty and AF are at risk of worse clinical outcomes. The article suggests that the prevalence of atrial fibrillation (AF) increases with age, affecting up to 4.2% of those aged 60-70 years and 17% of those aged 80 years or older.
Zoll Medical Corporation in 2017, had received FDA approval to begin U.S. distribution of its hospital wearable defibrillator (HWD), a device that can detect life-threatening arrhythmias in hospitalized patients and automatically deliver a shock to the chest. This HWD technology is like Zoll’s LifeVest, which was approved for pediatric home use in 2015. Additionally, factors such as the need for home-based treatments further aid in elevating wearable devices to a dominant position in the Wearable Cardioverter Defibrillator landscape.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing prevelance of cardiovascular disorders
4.2.2 Increasing elderly population
4.2.3 Ease of use for non-invasive device
4.3 Market Restraints
4.3.1 Regulatory Uncertainty
4.3.2 Privacy and information security issues in wearable devices
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Demography
5.2 By End User
5.2.2 Hospitals and Cardiology Clinics
5.2.3 Others end user
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/lrqaag
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INDUSTRY KEYWORD: HEALTH GENERAL HEALTH
SOURCE: Research and Markets
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PUB: 09/29/2021 09:25 AM/DISC: 09/29/2021 09:26 AM