Cardiac Rehabilitation Devices Market Size growing at 7% CAGR

Research Nester released a report titled “Cardiac Rehabilitation Devices Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global cardiac rehabilitation devices market in terms of market segmentation by patient type, by phases,, by devices, by end users and by region.

The market for cardiac rehabilitation devices size was valued at USD 1.46 billion in 2016 and is expected to growo expand at a CAGR of about 7% during the forecast period, i.e., 2019-2027 owing to high occurrence of cardiovascular diseases including myocardial infarction, coronary heart diseases and heart failure.

As reported by WHO, around 31% of deaths occurring all over the world are caused due to cardiovascular diseases which includes millions of people every year. The rising awareness among people for the health risks caused by factors such as physical inactivity, unhealthy dietary habits and health conditions such as obesity has led to an increasing demand for the cardiac rehabilitation devices. These devices are also used for speeding up the recovery process of heart as a part of post-surgical care.

The market is segmented by devices into heart rate monitors, blood flow monitors, treadmills, elliptical and others. Out of these segments, treadmills segment is estimated to witness the highest growth and possess the largest market share owing to the high demand for these machines. The increasing fitness programs and participation of people in such activities is anticipated to lead to the growth of this segment.

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In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:

As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation. 

The market in Asia-Pacific region is estimated to display the highest growth rate on the back of growing medical advances in the region as well as a higher demand for the devices during the forecast period.

The growing population, especially the elderly population, along with an increase in expenditure on healthcare is anticipated to boost the growth of the market in the region. The largest market share is estimated to be held by the North America region owing to the high prevalence of various heart risks and diseases in countries such as the United States.

However, the high price of various heart rehabilitation devices can act as a major restraint owing to the fact that the majority of population cannot afford such high expenses, especially after the already expensive cardiac surgeries. The cost of these devices can be lowered in order to make them accessible for more people.

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