Global Wearable Cardioverter Defibrillators Market To Grow Owing To Ongoing Technological Advancements; Market To Record a CAGR Of 25.45% During 2021-2028

New York, United States, Thu, 03 Dec 2020 05:23:16 / Comserve Inc. / -- The value of global wearable cardioverter defibrillator market reached USD 215,521.06 thousand and is expected to reach USD 1,158,216.71 thousand by 2028 by registering a CAGR of 25.45% across the globe.

With countries such as US, Brazil, China & Russia witnessing a very high prevalence for COVID-19, hospitals are quickly reaching their maximum capacity for in-patient admissions & emergency care.

Research Nester has released a report titled "Wearable Cardioverter Defibrillators Market – Global Demand Analysis & Opportunity Outlook 2028" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.

Owing to the rising geriatric population, increasing prevalence of cardiovascular disorders, and increase in the price of healthcare services, healthcare spending has increased gradually over the years in various countries, globally. Additionally, the increasing investment in the research and development sector is also expected to promote market growth in the forecast period. In 2019, the value of global wearable cardioverter defibrillator market reached USD 215,521.06 thousand and is expected to reach USD 1,158,216.71 thousand by 2028 by registering a CAGR of 25.45% across the globe.

"The Final Report will cover the impact analysis of COVID-19 on this industry."

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Regionally, the global wearable cardioverter defibrillators market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa region. Among the market in these regions, North America market is estimated to witness the highest growth throughout the forecast period. Technological advancements in research and development activities in the field of cardiac science by various medical and biomedical companies and growing cases of disease indications such as arrythmia and other cardiovascular disorders in North America are the major factors influencing the growth of the market in this region. The US market for wearable cardioverter defibrillators is the largest market by geography, and is presently occupied by ZOLL Medical Corporation.

Based on indication, the global wearable cardioverter defibrillators market is segmented into myocardial infarction, congenital heart disease, ventricular arrhythmias, peripartum cardiomyopathy, tetralogy of Fallot, Wolff-Parkinson-White (WPW) syndrome, and others. Among these, the ventricular arrhythmia segment had accounted for 39.11% of the market share in 2019 and is anticipated to record a significant market share in the forthcoming years. It is the most commonly occurring heart disorder that results in abnormal heartbeats, which can further lead to cardiac arrest.

Growing Incidents Of Cardiovascular Diseases And Increasing Healthcare Expenditure To Drive The Market Growth

Increasing prevalence of cardiovascular diseases are attributed to behavioral factors including consumption of tobacco, alcohol, unhealthy diet, raised blood pressure, overweight, and obesity. The increasing investment in the research and development sector is estimated to promote market growth in the forecast period. Moreover, the increasing geriatric population across the world is expected to raise a demand for wearable cardioverter defibrillator to treat cardiovascular diseases.

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However, stringent government regulations, lack of awareness among people in many countries, and lack of skilled professionals are among the key restraining factors anticipated to hamper the market growth of global wearable cardioverter defibrillators market.

This report also provides the existing competitive scenario of some of the key players of the global wearable cardioverter defibrillators market, which includes profiling of ZOLL Medical Corporation, Element Science Inc., Medtronic plc MDT, Kestra Medical Technologies Inc., Abbott ABT, Boston Scientific Corporation BSX, LivaNova plc LIVN, Koninklijke Philips N.V. PHIA, Nihon Kohden Corporation 6849, and General Electric Company GE.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "Wearable Cardioverter Defibrillators Market – Global Demand Analysis & Opportunity Outlook 2028", analyses the overall wearable cardioverter defibrillators industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global wearable cardioverter defibrillators market in the near future.

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