Wearable Atrial Fibrillation Detection Devices Market size is projected to experience significant growth from 2019 to 2025.
Increase in prevalence of atrial fibrillation across the globe will be one of the major market impact rendering factor. As per the recent statistics by Central for Disease Prevention and Control (CDC), around 2.7 million to 6.1 million people in U.S. suffer from atrial fibrillation. Hence, growing atrial fibrillation prevalence will enhance the business growth in the near future.
Recent technological advancements in the wearable atrial fibrillation detection devices will spur the business growth in the near future. Technological developments has made the healthcare sector more advanced and brought several transformations. Earlier the detection of heart conditions was not possible. Growing prevalence of heart conditions across the world, has resulted in manufacturing of essential devices to detect cardiovascular disorders as soon as possible. Several innovative devices have been manufactured for saving lives of people with the help of early detection of heart conditions. Hence, aforementioned factors will play significant role in enhancing the business growth.
However, integration of advent technology into atrial fibrillation devices for better treatment of valvular diseases has increased the cost of production. Also, the high cost involved in research and development and incorporation of advance technology will impede the market growth.
Hardware segment is estimated to hold majority market share owing to presence of several wearable devices such as smart watches, rings and patches. Recent technological advancements such as integration of atrial fibrillation detection in watches and rings to continuously monitor the heart activities will augment the business growth.
Use of smart watches in atrial fibrillation detection is estimated to show substantial amount of growth in the near future. Development of smart wearable watches to with special sensors that record and trace heart's electrical signature (electrocardiogram) and alerts the user in case of any irregular rhythm. As per the recent statistics, around 50 million people across the world use activity-tracking device and the number is estimated to rise to around 160 million owing to smart watches popularity. Hence, the above mentioned factors will augment the industry growth.
Patients in the age group 65 to 74 years is estimated to show majority market share owing to high prevalence of cardiovascular disease prevalence. As per the recent research article, geriatric population are more prone to atrial fibrillation due weakening of heart valves. Hence, growing number of heart disorders in the ageing population will enhance the business growth.
E-commerce distribution channel is estimated to grow at a lucrative rate in the near future. Increase in number of people with smart phone and internet access along with easy availability of these devices on shopping platform will boost the market growth over the projection period.
Use of photoplethysmography technology in atrial fibrillation detection will show rapid growth in the near future. Photoplethysmography (PPG) pulse waveform in the smartphones measure and discriminates different heart rhythms and diagnoses atrial fibrillation in real?world situations has not been adequately investigated. Aforementioned reason will boost the business growth.
U.S. is projected to dominate the North America wearable atrial fibrillation detection devices market. The majority market share is due to presence of primary new technology as well as being the most developed region that provides state of art facilities for atrial fibrillation procedures. Hence, increase in prevalence of atrial fibrillation in the region will augment the business growth in near future.
Some of the major industry players are AliveCor, Apple, Inc., Applied Cardiac Systems, Cardiac Insight, CardioNet, Garmin and LifeWatch. These major players concentrate on expanding their market presence by implementing several strategies such as mergers, acquisitions, partnerships, and collaborations.
Wearable Atrial Fibrillation Detection Devices Market, By Component, 2014-2025 (USD Million)
Wearable Atrial Fibrillation Detection Devices Market, By Application, 2014-2025 (USD Million)
Wearable Atrial Fibrillation Detection Devices Market, By Age, 2014-2025 (USD Million)
Wearable Atrial Fibrillation Detection Devices Market, By Distribution Channel, 2014-2025 (USD Million)
Wearable Atrial Fibrillation Detection Devices Market, By Technology, 2014-2025 (USD Million)
The above information is provided for the following regions and countries: