A wearable cardioverter defibrillator is a lightweight, easy to wear device worn by patients who are at a high risk of a sudden cardiac arrest (SCA). A wearable cardioverter defibrillator is an external device that mainly consist of two components, garment and monitor. The garment is worn under the clothing as a vest to continuously to monitor the heart and on detection of an arrhythmia, it releases a shock to restore heart’s normal rhythm. The monitor is worn around the shoulder using a shoulder strap or around the waist. It records the intensity of the arrhythmia. This whole process happens within a minute, as SCAs are unpredictable and need to be treated via a shock treatment to save victim’s life. A wearable cardioverter defibrillator is an alternative treatment method used to prevent SCAs in non-pacemaker-dependent patients who are awaiting an implant of a cardioverter defibrillator. 

According to the World Health Organization (WHO), cardiovascular diseases are a leading cause of mortality globally. These diseases account for 31% of total global mortality. According to the Sudden Cardiac Arrest Association, in the U.S., more than 325,000 people succumb to SCA each year and among those the survival rate is only 10%. According to the European Resuscitation Council, SCAs cause approximately 20% of all deaths in Europe. As per statistical projection of the United Nations (UN), the global number of people over the age of 60 years is projected to increase from 901 million in 2015 to 1.4 billion by 2030. 

Cardiac arrest is a public health issue, which has a severe impact on the wellbeing of human health. Prevalence of sudden cardiac arrest is directly proportional to the increasing population, worldwide. Rapid growth in the global geriatric population and rise in the number of sudden cardiac arrest cases are driving the wearable cardioverter defibrillators market. Increasing per capita income of people, rising awareness about cardiac diseases and cardiac arrests are fuelling the wearable cardioverter defibrillators market in developing countries. Technological advancements in wearable cardioverter defibrillator devices, such as reduction in the noise of electrodes, improvements in signal detection, weight and size reduction of the device to make it more comfortable for the patient, is another key factor boosting the wearable cardioverter defibrillators market. However, less awareness about the wearable cardioverter defibrillator device in developing countries and device lacking potential to detect atrial arrhythmia signals are key restrains of the market. 

The global wearable cardioverter defibrillators market can be segmented based on application, end-user, and region. In terms of application, the market can be segregated into congenital heart diseases, inherited arrhythmias, and peripartum cardiomyopathy. Based on end-user, the wearable cardioverter defibrillators market can be divided into clinics, hospitals, and home care settings, and others. 

In terms of region, the global wearable cardioverter defibrillators market can be categorized into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounts for a dominant share in the global wearable cardioverter defibrillators market owing to the increase in awareness among the people regarding sudden cardiac arrests and wearable cardioverter defibrillator devices. Europe constitutes a large share of the market due to technological advancements and rise in the number of cardiac arrest and SCA incidences in the region. The market in Asia Pacific is expanding at a rapid pace owing to the increase in government support, rise in health care expenditure, and surge in per capita income. Increasing demand for wearable cardioverter defibrillator devices in Asia Pacific due to Rise in awareness about these devices, government support, rise in per capita income are some of the factors likely to fuels the market in the region. 

Prominent players in the global wearable cardioverter defibrillators market include Medtronic, Cardiac Science, LivaNova, Boston Scientific Corporation, St. Jude Medical LLC, Koninklijke Philips N.V., Nihon Kohden Corporation, Defibtech LLC, and Physio-Control Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Wearable Cardioverter Defibrillators Market

Pre Book