Cardiac Rehabilitation Market to reach US$ 1.62 Bn in 2024
Cardiovascular disease is the major cause of disability and a leading cause of death across the world. A report published by the WHO stated that cardiovascular diseases accounted for 17.5 million deaths in 2015, which represented 31% of global deaths. Factors contributing to the increase in prevalence of cardiovascular diseases are growing geriatric population and change in lifestyle.
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In order to mitigate the global burden of cardiovascular diseases, various steps has been taken by different national and international bodies. Governments of various countries have taken initiatives to increase awareness about these diseases. Cardiac rehabilitation has proven to decrease the rate of deaths due to cardiovascular diseases. Increase in sedentary lifestyle is a major factor that contributes to rising in prevalence of cardiovascular diseases. Due to sedentary lifestyle the people are experiencing less physical activity in their daily routine. Physical activity is an important part of cardiac rehabilitation program. Cardiac rehabilitation is a highly monitored activity that assists in improving the health status of a person who is suffering from heart problems. Rehabilitation programs involve exercise training, monitoring of body vitals, education about healthy habits, and various other activities that help the body to retain its healthy state. Global demand for cardiovascular rehabilitation is increasing due to rise in cardiovascular disease burden.
Exercise equipment and devices play a significant role in cardiac rehabilitation programs. Cardiac rehabilitation equipment are classified into exercise equipment and monitoring devices. These help to improve heart health, increase metabolism, improve hormonal profile, and recovery ability. Demand for indoor exercise equipment has increased due to changing lifestyle and habits. These equipment offer low impact workout to the user and monitoring devices track and continuously monitor the vital stats such as blood pressure and heart rate. The continuous integration of advanced technology with existing basic equipment leads to volatility in market dynamic in terms of features. This dynamic market increases the rate of obsolescence and shortens the lifespan of a product. The apparent implication of such behavior of market increases the cost for both manufacturer and end-user.
The global cardiac rehabilitation market has been segmented based on device and geography. Cardiovascular rehabilitation equipment are majorly categorized into exercise equipment and monitoring devices. Based on device type, the cardiac rehabilitation market includes elliptical trainer, rower, and stationary bicycle.
The treadmill and elliptical trainers segments accounted for majority share of the cardiac rehabilitation market. The treadmill segment accounted for the largest share of the cardiac rehabilitation equipment market. Treadmill is a stationary equipment assisting in running and even walking. The treadmill segment held 30.50% share of the cardiac rehabilitation market in 2015. The elliptical trainers segment accounted for 27.35% share of the cardiac rehabilitation market in 2015. The heart rate monitor segment is expected to witness the highest compound annual growth rate during the forecast period.
Geographically, the market has been divided into six regions: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and Rest of the World. North America held the largest share of the global cardiac rehabilitation market. The market in Asia Pacific is anticipated to grow at fastest pace from 2016 to 2024.
Major players in the market are Ball Dynamics International, LLC (Longmont, U.S.), Core Health & Fitness, LLC (Vancouver, U.S.), Honeywell International, Inc. (Brookfield, U.S.), LifeWatch AG (Zug, Switzerland), OMRON Corporation (Kyoto, Japan), Patterson Companies, Inc. (Warrenville, Illinois U.S.), Philips (Amsterdam, Netherlands), Amer Sports (Helsinki, Finland), Smiths Group (London, U.K.), Halma plc (Buckinghamshire, U.K.), and Brunswick Corporation (Illinois, U.S.).
The cardiac rehabilitation market has been segmented as follows:
Global cardiac rehabilitation market, by Device Type
Seated and Upright Elliptical Trainer
Heart Rate Monitor
Blood Pressure Monitor
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