Cardiac Rehabilitation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cardiac Rehabilitation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cardiac Rehabilitation Market is poised to grow at a CAGR of 6% over the period (2022-2027).

The COVID-19 pandemic's unique nature has made it difficult to determine whether and how individuals with heart disease can safely attend cardiac rehabilitation and center-based exercise programs. According to the study titled "Cardiovascular rehabilitation in the COVID-19 era: ‘a phoenix arising from the ashes?’" published in the European Journal of Preventive Cardiology in August 2022, the pandemic has increased the demand for rehabilitation for COVID-19 patient groups who are critically ill with the COVID-19 disease. Additionally, remote patient monitoring using implantable cardiac rehabilitation products is a safe alternative to in-person only visits which led to enhanced patient satisfaction and improved clinical outcomes. For instance, in February 2021, RhythMedix launched the next-generation cardiac monitor RhythmStar with built-in 4G cellular connectivity for arrhythmia detection. Therefore, there was a greater need for cardiac rehabilitation, which is anticipated to have a beneficial impact on the market due to the COVID-19 pandemic.

The cardiac rehabilitation market is primarily driven by the increasing prevalence of cardiac diseases and various efforts made to reduce heart diseases across the globe. According to the article "Global Epidemiology of Ischemic Heart Disease: Results from the Global Burden of Disease Study" published in Cureus Journal of Medical Science in July 2020, ischemic heart disease (IHD) is a leading cause of death worldwide. Ischemic heart disease affects around 126 million individuals (1,655 per 100,000) globally, which is approximately 1.72% of the world’s population. The global prevalence of ischemic heart disease is expected to exceed 1,845 per 100,000 by the year 2030. As a result of the increasing frequency of heart illnesses worldwide, people who are affected by them are increasingly embracing prevention strategies, such as cardiac rehabilitation, which is fueling the market's growth.

Cardiac rehabilitation includes the implementation of heart-healthy lifestyle changes to cope with the risk factors associated with cardiovascular disease. To help the patients in adopting lifestyle changes, this program includes exercise training, education on heart-healthy living, and counseling to reduce stress and help in returning to an active life. The major purpose of cardiac rehab is to improve the overall health and quality of life by reducing the need for medicines to treat heartaches or issues, reducing the hospital or emergency room visits for certain heart problems, and preventing future heart issues. According to the World Economic Forum in August 2021, the Netherlands has the most physically active population, with more than 12 hours a week spent playing sports or exercising. In the 29 countries polled, 58 percent of respondents desire to play more sports. Thus, the growing focus on health and fitness in developed countries is expected to drive the growth of the market over the forecast period.

However, lack of knowledge in developing and underdeveloped countries restraint the market growth over the forecast period.

Key Market TrendsTreadmill is Expected to Witness a Healthy Growth Rate During the Forecast Period

The treadmill is used mostly and is one of the well-known follow exercises and to keep the body healthy. It is widely recommended for patients who had a history of heart failure. The major role of the treadmill during cardiac rehab is to determine a target heart rate. Patients are usually given a heart rate goal to achieve during their exercise. It has been observed that treadmill exercise is one of the best rehabs for cardiac patients as it works out the heart as well as the overall body. According to the study titled "Cardiac Rehabilitation in Patients with Peripheral Artery Disease A Literature Review in COVID-19 Era" published in the Journal of Clinical Medicine in January 2022, the effects of supervised treadmill exercise therapy on Peripheral Artery Disease (PAD) patients' functional capacity and quality of life are favorable. Patients with Peripheral Artery Disease (PAD) who get supervised treadmill exercise therapy have improved cardiorespiratory fitness, treadmill walking performance, and a lower mortality rate.

Several companies in the market provide treadmills that are useful in managing cardiac health effectively. For instance, GE Healthcare provides treadmills as well as other devices that are meant for cardiac rehabilitation and the company's products are well-known in the cardiac rehab market. Additionally, product launches by the key market players support the market growth over the forest period. For instance, in August 2021, Peloton Interactive (PTON.O) launched its new treadmill with safety features in the United States. Treadmills have safety features including a digital passcode to unlock the belt before a workout and a physical safety key that can help a runner come to a quick stop.

Thus, the above-mentioned factor is expected to boost the segment growth over the forecast period.

North America to Expected to Dominate the Cardiac Rehabilitation Market

North America is the most developed region in the world in terms of healthcare which is primarily attributed to the development of the healthcare system in the United States. Due to the higher adoption of the United States population to the novel technologies and increasing focus on reducing the burden of heart disease, there is a growing demand for cardiac rehabilitation in the United States which is contributing to the growth of the market studied. For instance, in August 2022, the Center for Diseases Control and Prevention launched Million Hearts national initiative that aims to stop 1 million heart attacks and strokes. It focuses on putting into action a modest number of priorities and goals based on research that can enhance cardiovascular health for all.

Similarly, the Canadian Government is likewise focused on numerous programs to cope with heart disease and reduce mortality. People who have had cardiac disorders or cardiac surgery are becoming more aware of the need for rehabilitation in the fight against cardiac diseases. In August 2022, the Canadian Government provided more than USD 1.7 million, which will be given to three organizations to fund initiatives aimed at improving seniors' physical activity as well as those in low-income areas and school communities across Canada. Thus, a growing focus on physical activity is expected to boost the market in the region.

To expand into the market, market players use several strategies such as merger and acquisition, fundraising, and product introduction. For instance, in March 2022, Recora, a provider of virtual cardiac healing through telehealth, announced a USD 20 million investment round. Additionally, its cardiac rehabilitation program is now accessible to clinicians and health plans across the country. Currently, this region holds the largest share of the market studied and is expected to follow the same trend over the forecast period.

Competitive Landscape

The market studied is moderately competitive and consists of international players mostly. The medical device companies are focusing more on new product development to provide the technologically advanced solutions to the patients which are boosting the competition among the key players. However, it is expected that some small to mid-sized companies will penetrate the market in the near future and grab a substantial share of the market studied.

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