Yahoo Finance The Global Cardiac Rehabilitation Market size is expected to reach $2.4 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period
Cardiac rehabilitation consists of three equally significant components, such as stress management counselling, information about healthy heart living, and exercise counselling and training.
New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Cardiac Rehabilitation Market Size, Share & Industry Trends Analysis Report By Product, By End User, By Disease Type, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321905/?utm_source=GNW
Cardiovascular rehabilitation aids in locating common stressors. The best aspect of recovery after a heart attack or other heart condition is cardiac rehabilitation. It can aid in the development of heart-healthy behaviours and helps to prevent major heart attacks.
Cardiac rehabilitation provides several health advantages, including alleviating heart disease symptoms like chest discomfort and reducing further illness and heart disease-related fatalities. Programs for cardiac rehabilitation concentrate on blood pressure control, diabetes control, exercise instruction, and physical activity guidance. Cardiac rehabilitation improves quality of life while lowering medical expenses.
One of the key elements driving the growth of the cardiac rehabilitation market is the rise in popularity of e-cardiology and e-health. Additionally, the industry has developed new strategies and partnerships thanks to the medical device sector in order to meet the pandemic’s urgent needs. For instance, more than 868,000 Americans died from heart disease in 2022, while more than 34.2 people perished from diabetes, according to statistics examined on January 10 by the Centers for Disease Control and Prevention.
As a result, the prevalence of cardiovascular disorders is rising, which raises the demand for handheld monitoring devices and is expected to support the market for cardiac rehabilitation. Among the key market trends for cardiac rehabilitation include a rise in government funding for the management of heart disorders and an increased demand for efficient preventative measures. Additional major competitors that contribute to the market’s expansion are Baxter International Inc., Philips N.V., Smits Group, and Life Fitness. These companies offer cardiac rehabilitation equipment.
COVID-19 Impact Analysis
Patients with COVID-19 had a higher prevalence of cardiovascular disease, with myocardial damage being the most prevalent diagnosis. Therefore, a broad range of cardiovascular disorders were prevalent among patients with COVID-19, leading to an increase in the demand for the use of cardiac rehabilitation equipment. These are some of the main drivers of the market’s expansion and the need for cardiac rehabilitation programs. For instance, In Body, a leader in body composition technology who has launched the BP 170 blood pressure device in February 2022, gives people the choice to track and self-record important health data at home.
Market Growth Factors
Increasing Geriatric Population And Growing Incidences Of Numerous Cardiovascular Diseases
The market for cardiac rehabilitation is reportedly being driven by an increase in the elderly population and the corresponding rise in cardiovascular disorders. The development of the cardiac rehabilitation market is further fueled by the infrastructural improvements done in numerous healthcare sectors across different nations. Along with this, there has been an increase in government initiatives to address issues like the difficulty in finding equipment and gadgets at reasonable rates and the incidence of certain cardiovascular diseases.
Growing Awareness Among People Along With The Changing Lifestyle
Old habits are difficult to break, but poor food habits and a sedentary lifestyle may exacerbate heart issues. Cardiovascular disease, which arises as a result of unhealthy weight, inadequate stress management, and smoking, accounts for about a significant percentage of all fatalities worldwide. Cardiovascular rehabilitation shows patients how to manage such risk factors and enhance their long-term heart health. There are many people who are adopting active lifestyle and are visiting cardiac rehabilitation centers to improve their heart health.
Market Restraining Factors
Cost Of Cardiac Rehabilitation Equipment Has Increased
The difficulty in obtaining Cardiac Rehabilitation devices & equipment from the numerous hospitals and clinics is the market’s main issue. Despite the market for cardiac rehabilitation having had significant expansion, it is anticipated that these characteristics, together with the high cost of installing the equipment and technologies used in cardiac rehabilitation, would provide challenges to the market. Along with that, there are many rehab centers which do not have enough budget to deploy better and advanced equipment range.
Product Outlook
Based on product, the cardiac rehabilitation market is segmented into Elliptical Trainer, Stabilization ball, Treadmill, Heart rate monitor, Blood pressure monitor, Rower and Others. The blood pressure monitor segment acquired a significant revenue share in the cardiac rehabilitation market in 2021. It is due to the growing demand for maintaining physical fitness. Anyone who requires or wants to measure their blood pressure at home, even those with hypertension, can benefit from having a reliable home blood pressure monitor.
Disease Type Outlook
By disease type, the cardiac rehabilitation market is classified into Percutaneous Coronary Intervention, Myocardial Infarction, Coronary Artery Bypass Grafting, Coronary Artery Disease and Others. The Percutaneous Coronary Intervention (PCI) segment procured a significant revenue share in cardiac rehabilitation market in 2021. It is due to increase in obstructive coronary artery disease cases in the general population. A small incision is made in the wrist or upper thigh during a PCI procedure, and a catheter a thin, flexible tube is then inserted via an artery leading to the heart to enter the blocked channel.
End-User Outlook
On the basis of end-user, the cardiac rehabilitation market is divided into Rehab Centers, Hospitals, Clinics and Others. The rehab centers segment recorded the maximum revenue share in the cardiac rehabilitation market in 2021. It is due to an increase in health consciousness among individuals and a boost in the number of rehabilitation facilities offering rehabilitation therapies in both emerging and developed economies. This trend is anticipated to continue over the forecast period.
Regional Outlook
Region-wise, the cardiac rehabilitation market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region with the highest revenue share in the cardiac rehabilitation market in 2021. A rise in the number of regulatory approvals in North American developed nations had a favorable impact on market expansion. This was attributed to the large biopharmaceutical & medical device corporations that exist in nations like the U.S.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Technogym S.p.A., Johnson Health Tech. Co., Ltd., Omron Corporation, Koninklijke Philips N.V., Baxter International, Inc., Halma PLC, ICU Medical, Inc. (Smiths Medical), General Electric (GE) Co. (GE Healthcare), Life Fitness, and Core Health & Fitness, LLC.
Strategies deployed in Cardiac Rehabilitation Market
May-2022: GE Healthcare signed an agreement with Alliance Medical, a radiology services company. This agreement aimed to develop a digital solution with the goal to boost productivity in hospital radiology departments in the UK.
Jan-2022: ICU Medical took over Smiths Medical from Smiths Group. This acquisition aimed to add Smiths Medical syringe and ambulatory infusion devices, vascular access, and essential care products to the ICU Medical portfolio, which would develop a leading infusion therapy company with a more strong global reach.
Nov-2021: Halma acquired Infinite Leap, the premier healthcare solutions provider. Under this acquisition, Infinite Leap would improve CenTrak’s capabilities as an end-to-end enterprise solutions company for healthcare organizations. In addition, this acquisition aimed to allow CenTrak to expand its solutions, services, and technologies to strengthen the increasing requirements of healthcare providers, especially big companies with networks of healthcare facilities, in the post-pandemic world.
Sep-2021: SunTech Medical, a Halma Company took over Meditech, a manufacturer of ambulatory blood pressure monitors (ABPM) and ECG Holter devices. This acquisition aimed to enable SunTech to use the two companies’ expert knowledge of blood pressure (BP) to bring improved BP solutions to consumers.
May-2021: Life Fitness came into a partnership with ShapeLog, a Midwest-based fitness technology company. This partnership aimed to provide data-driven strength training experiences to exercisers, and the data insights, which is required by trainers to assist their customers to reach their individual fitness objectives.
Apr-2021: Technogym came into a partnership with GenesisCare, a provider of cancer and cardiac care services in Australia. Under this partnership, the companies aimed to introduce the “Exercise Medicine” App For Cancer Patients. This app assists the patient in continuing prescribing their exercise sessions, providing a similar face, and retaining the sense of support and community that is essential during treatment.
Feb-2021: Philips formed a 5-year partnership with Dutch SAZ, a group of 28 hospitals. This partnership aimed to allow the companies to scale up more easily within the Netherlands’ regional hospitals.
Jul-2020: OMRON Healthcare teamed up with Mount Sinai Health System, New York City’s largest academic medical system. This collaboration aimed to provide patients with the new VitalSight home blood pressure monitoring solution.
Dec-2018: Technogym expanded its global footprint by opening its Wellness Boutique in Madrid. This place helps clients to experience the Wellness lifestyle in all its aspects and facets.
Jun-2018: Royal Philips acquired EPD Solutions, an innovator in image-guided procedures for cardiac arrhythmias. Under this acquisition, EPD’s cardiac imaging and navigation system would assist electrophysiologists to identify the heart by gathering a detailed 3D image of the cardiac anatomy, along with also emphasizing the location and orientation of catheters at the time of the diagnostic and therapeutic process for cardiac arrhythmias.
Scope of the Study
Market Segments covered in the Report:
By Product
• Treadmill
• Elliptical Trainer
• Rower
• Stabilization Ball
• Heart Rate Monitor
• Blood Pressure Monitor
• Others
By End User
• Rehab Centres
• Hospitals
• Clinics
• Others
By Disease Type
• Coronary Artery Disease
• Percutaneous Coronary Intervention
• Myocardial Infarction
• Coronary Artery Bypass Grafting
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Technogym S.p.A.
• Johnson Health Tech. Co., Ltd.
• Omron Corporation
• Koninklijke Philips N.V.
• Baxter International, Inc.
• Halma PLC
• ICU Medical, Inc. (Smiths Medical)
• General Electric (GE) Co. (GE Healthcare)
• Life Fitness
• Core Health & Fitness, LLC
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• Highest number of market tables and figures
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