New York, USA, Sept. 05, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global wearable cardiac devices market is predicted to register a revenue of $7,733.1 million and grow at 26.5% CAGR during the 2020-2027 analysis years. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time market size has prominently increased compared to the pre-pandemic predictions. The real-time market size reached a revenue of $1,493.9 million in 2020, while its estimations were $1,426.5 million in the pre-pandemic scenario. Increasing cases of cardiovascular diseases like strokes and heart attacks among people and rising geriatric population across the world are the major factors projected to uplift the growth of the global wearable cardiac devices market during the forecast years. Moreover, growing usage of smartphones and other connected devices that can provide basic health-related information to the user is also estimated to bolster the wearable cardiac devices market development by 2027.
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Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global wearable cardiac devices market is expected to grow at a CAGR of 26.5% during the forecast period, while it was anticipated to grow at 24.3% CAGR in the pre-pandemic scenario from 2020-2027. Increasing initiatives by most organizers to provide solutions to the surging cardiovascular diseases is the prime boosting factor for the market growth by 2027. For instance, in February 2020, Centers for Disease Control and Prevention discovered a potential solution to track cardiovascular health population trends with the help of consumer wearable.
Post Pandemic Insights
As per the report, the global wearable cardiac devices market is predicted to flourish immensely during the analysis timeframe mainly due to rising product launches by consumer electronics manufacturers by developing potential products so that patients with cardiovascular diseases are not required to visit hospitals frequently. Moreover, high risk of cardiovascular diseases among females and the growing demand for remote patient monitoring devices and healthcare electronics are some factors to propel the market’s growth in the 2020-2027 forecast period.
Key Market Players
Some key wearable cardiac devices market players include and many more. These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in June 2021, LifeQ, world’s highly-dominant provider of biometric and health information derived from wearable devices, announced its partnership with CONNEQT, a consumer health organization that provides wearables and other consumer health apps, to enable the CONNEQT Band that consists of an additional fingertip sensor. The partnership also aimed to further boost the latter’s heart-health-centric offerings and strengthen its footprint in the competitive market.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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