The global market size for Wearable Cardioverter Defibrillators is expected to register a healthy growth rate during the forecast period.
Wearable cardioverter defibrillators (WCDs) are small, portable devices that deliver an electrical shock to the heart to avoid sudden cardiac death (SDC). External (automated external) and internal (implantable) defibrillators are the two types of defibrillators. In the wearable cardioverter defibrillator, an external defibrillator is connected to a jacket worn by the patient. It is frequently used in patients to bridge the gap between the need for an implantable cardioverter-defibrillator and the availability of one. A wearable cardioverter defibrillator gives their doctor more time to analyze their long-term arrhythmic risk and take necessary measures to avoid a fatal cardiac arrest.
The global wearable cardioverter defibrillator market is estimated to witness substantial growth during the forecast period. The increase in the prevalence of cardiovascular diseases due to behavioral factors such as tobacco, alcohol, unhealthy diet, obesity, etc., is majorly driving the global wearable cardioverter defibrillator market during the forecast period. The World Health Organization (WHO) has stated that cardiovascular diseases are the primary cause of death, and more than 31% of people worldwide die from this disease. In addition, the increasing awareness of having solid cardiac health among people and the increasing number of sudden cardiac arrest (SCA) incidence boost the global wearable cardioverter defibrillator market during the forecast period.
Moreover, old age people are prompt to get chronic diseases such as heart attacks, where there is an increasing prevalence for better-quality treatment procedures propelling the market's demand. In addition, the rapid growth in the geriatric population all over the world is fueling the wearable cardioverter defibrillator market. For instance, World Health Organisation (WHO) had stated, by 2030, that there might be a tremendous rise of more than 55% of people over 60 years old from 901 million to 1.4 billion.
The increasing number of capital investments from the private sector and public sector had expected to raise the investments in Research and Development will be a significant opportunity for the market growth. Apart from that increase in technological advancements to improve the signal reception, reduce electrode noise, and reduce the devices' weight and size to increase comfort, the patients are expected to boost the market during the forecast period. Moreover, the people's growing per capita income is predicted to grow the global wearable cardioverter defibrillator market in the upcoming years.
The lack of provision to monitor atrial arrhythmias signals significantly restrains the growth of the wearable cardioverter defibrillator market during the forecast period. Moreover, the lack of awareness about sudden cardiac arrests among people is hindering market growth. However, the problems related to the usage of wearable cardioverter defibrillator devices further limit the market's growth. These are the factors restraining the growth of the global wearable cardioverter defibrillator market during the forecast period.
The lack of awareness about wearable cardiovascular defibrillator devices in emerging nations like India, China, etc., is challenging the market's growth. Moreover, the lack of properly skilled professionals and stringent government regulations are expected to limit the market growth during the forecast period.
COVID-19 Impact on Wearable Cardioverter Defibrillator Market:
The COVID 19 had adversely impacted the global economy and global health care sector in 2020. Due to the virus's fast spread during human interactions, almost all countries had implemented lockdown and shut their international borders. The Wearable Cardioverter Defibrillator Market was adversely affected due to the pandemic. With the restriction during the lockdown, the industries had run out of raw materials leading to a decrease in production. Moreover, the disruption of the supply chain globally hampered the market's growth. But the market is rising post-COVID as there is an increasing number of sales from the last months of 2020.
Market Size Available
2020 to 2026
2021 to 2026
By Conditions, End User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global wearable cardioverter defibrillator market has been segmented and sub-segmented based on the conditions, end-user, and region.
Wearable Cardioverter Defibrillator Market – By Conditions:
Based on the condition, the peripartum cardiomyopathy segment is expected to lead with the highest shares of the market during the forecast period. Rising incidences of cardiac arrest problems associated with lifestyle changes are leveling up the demand of this segment.
Wearable Cardioverter Defibrillator Market – By End User:
Based on the end-user, the homecare settings had registered the highest market share in 2019. The people mostly prefer home treatment and spending on resources to get better treatment or care at home, driving the home care settings segment during the forecast period. Moreover, it became easy for the physicians to assist the patients virtually due to the increase in medical technology advancements, which led to the adoption of home care settings. On the other hand, the Hospital segment has estimated a significant market share during the forecast period owing to the increasing number of hospitals in emerging countries.
Wearable Cardioverter Defibrillator Market – By Region:
North America commands the largest market share of the overall industry. It is likely to keep ruling the business sector due to the growing incidence of diseases, enhancement in the healthcare industry, and extended growth. U.S. and Canada contribute the highest to the overall market in the region because of the awareness regarding sudden cardiac arrest and defibrillators. Europe is the second-largest market.
The Market is majorly driven by the rise in demand from developing economies in the Asia Pacific and the Middle East regions. More workstations and business environments are introducing advancements in defibrillators. Therefore, it is projected to benefit the defibrillators market in the aforementioned forecast period.
KEY MARKET PARTICIPANTS:
Some of the notable companies dominating the global wearable cardioverter defibrillator market profiled in this report are LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.), Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), and Nihon Kohden Corporation (Japan).
KEY MARKET HAPPENINGS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Peripartum Cardiomyopathy
5.1.3 Congenital Heart Disease
5.1.4 Inherited Arrhythmias
5.1.5 Y-o-Y Growth Analysis, By Conditions
5.1.6 Market Attractiveness Analysis, By Conditions
5.1.7 Market Share Analysis, By Conditions
5.2 End User
5.2.3 Home Care Settings
5.2.4 Cardiology Clinics
5.2.5 Y-o-Y Growth Analysis, By End User
5.2.6 Market Attractiveness Analysis, By End User
5.2.7 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Conditions
18.104.22.168 By End User
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Conditions
188.8.131.52 By End User
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Conditions
18.104.22.168 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 ZOLL Medical Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Medtronic PLC (Ireland)
8.3 St. Jude Medical
8.4 Boston Scientific Corporation (U.S.)
8.5 BIOTRONIK SE & Co. KG (Germany)
8.6 LivaNova PLC (U.K.)
8.7 Koninklijke Philips N.V. (Netherlands)
8.8 Cardiac Science Corporation (U.S.)
8.10 Nihon Kohden Corporation (Japan)
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures