Worldwide Cardiac Rehabilitation Market to reach US$ 1.62 Bn in 2024; Asia to be the most lucrative market in the near future

According to a new market report published by Transparency Market Research “Global Cardiac Rehabilitation Market (Device Type – Seated and Upright Elliptical Trainer, Stabilization Ball, Stationary Bicycle, Treadmill, Rower, Blood Pressure Monitor, and Heart Rate Monitor) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024”, the cardiac rehabilitation market is anticipated to expand at a CAGR of 5.4% from 2016 to 2024 to reach US$ 1.62 Bn by 2024.

Cardiovascular diseases account for nearly one third of the global deaths. This has increased awareness about the need for cardiac rehabilitation programs. Global demand for cardiovascular rehabilitation is increasing due to rise in cardiovascular disease burden. The World Health Organization in 2015 reported a rise in the number of deaths due to cardiovascular diseases. It also stated that cardiovascular diseases accounted for 17.5 million deaths in 2015, which represents 31% of global deaths. Factors contributing to increase in the prevalence of cardiovascular diseases are growing geriatric population, and change in lifestyle, among others.

Cardiac rehabilitation is a structured and highly monitored program built for early recovery from impacts suffered due to cardiac strokes and other heart disorders. Cardiac rehabilitative programs assist in improving the health status of a person 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.

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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 of the body including 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. Cardiac rehabilitation devices are categorized into exercise equipment and monitoring devices. Based on device type, the treadmill segment accounted for the major share of the cardiac rehabilitation market. The heart rate monitor segment is expected to witness the highest compound annual growth rate during the forecast period. Cardiac rehabilitation devices also include elliptical trainer, rower, and stationary bicycle. 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 accounted for the largest share of 50.69% of the global cardiac rehabilitation market in 2015. Increasing prevalence of cardiovascular diseases, growing geriatric population, and active intervention by the government are the major factors contributing to the growth of the cardiac rehabilitation market in the region. In addition, the market in North America is expected to grow rapidly due to high demand for new and innovative products such as fitness monitoring devices and anti-gravity treadmill. North America constitutes developed economies such as the U.S. and Canada that have large geriatric population suffering from various chronic diseases. Increasing occurrence of cardiovascular diseases drives demand for rehabilitation programs, consequently boosting demand for fitness equipment and devices. Under the ‘Patient Protection and Affordable Care Act‘, the U.S. Government is taking efforts to monitor the physical activities and healthy habits of individuals. The U.S. Government facilitates the adoption of health lifestyle by incentivizing individuals. Therefore, apart from other factors such as increasing cardiovascular disease burden and rising geriatric population, government initiatives are also driving the market in North America.

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Europe accounted for the second largest share of 22.72% of the global cardiac rehabilitation market in 2015. Germany was the largest market in Europe. According to OECD statistics (2015), Germany ranked among top eight places for high rates of deaths due to cardiovascular diseases. Cardiovascular diseases are caused due to various factors including genetic factor and natural aging. However, overweight, smoking, diabetes, and high cholesterol can increase risks. Men are at a higher risk of death due to cardiovascular disease than women are. According to OECD statistics, 374 per 100,000 men as against 269 per 100,000 women in Germany die due to cardiovascular diseases. Around 310 per 100,000 individuals die due to cardiovascular diseases in Germany each year, which is comparatively higher than 256 per 100,000 deaths in the U.S. and 245 per 100,000 in the U.K.

Asia Pacific is expected to grow at the highest rate of 6.8% during the forecast period. According to a recent report by the Japan Aging Research Center, Asia Pacific is one of the highly affected region suffering from issue of aging population. Japan, China, and South Korea are the countries with large geriatric population. Growing prevalence of cardiovascular diseases in Asia will be responsible for increase in cardiovascular burden across the region. The region also constitutes some of the developed markets such as Australia and New Zealand. These countries have well-established infrastructure along with high awareness and demand for cardiovascular rehabilitation equipment. This is expected to propel the market in these countries.

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 (Lodon, 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
Introduction
Seated and Upright Elliptical Trainer
Stabilization Ball
Stationary Bicycle
Treadmill
Rower
Heart Rate Monitor
Blood Pressure Monitor
Global Cardiac Rehabilitation Market, by Geography
Introduction
North America
U.S.
Canada
Europe
Germany
U.K.
Rest of Europe
Asia Pacific
China
Japan
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
South Africa
Saudi Arabia
UAE
Rest of Middle East & Africa

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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