The latest market research report by Technavio on the global cardiac rehabilitation market predicts a CAGR of around 7% during the period 2018-2022.
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Technavio has published a new market research report on the global cardiac rehabilitation market from 2018-2022. (Graphic: Business Wire)
The report segments the global cardiac rehabilitation market based on the phases such as phase I, phase II, and phase III. The report also presents an analysis of the market's growth prospects across various geographic regions such as the Americas, APAC, and EMEA. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global cardiac rehabilitation market, according to Technavio researchers:
- High prevalence of cardiovascular diseases: a major market driver
- Increasing adoption of telerehabilitation: a key trend
- The Americas dominated the global cardiac rehabilitation market with 43% share in 2017
- Apollo Hospitals, Cedars-Sinai, Cleveland Clinic, CMFT, and MFMER are the leading players in the market
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High prevalence of cardiovascular diseases: a major market driver
High prevalence of cardiovascular diseases is one of the major factors driving the global cardiac rehabilitation market. Cardiovascular diseases are the leading cause of deaths globally. The prevalence of these diseases is high due to the unhealthy and sedentary lifestyle. Geriatric population is more prone to cardiovascular diseases as their heart functionality becomes weak. In 2015, over 6% of the global population was diagnosed with cardiovascular diseases, therefore, it remained the leading cause of death in the world.
Additionally, there is a high prevalence of recurring heart diseases. For instance, according to the CDC, every year, on an average 210,000 recurrent cases of cardiovascular diseases are recorded in the US. This has made cardiac rehabilitation essential to prevent recurrent cases and secondary heart complications. The prevalence of cardiovascular disease is expected to increase by 20%-25% by 2030, which will lead to the growth of the global cardiac rehabilitation market.
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Americas: largest cardiac rehabilitation market
Technavio researchers anticipate high growth for the global cardiac rehabilitation market in the Americas. In 2017, the Americas dominated the global cardiac rehabilitation market with 43% market share owing to the wide presence of many hospitals and favorable reimbursement scenario. The US was the largest revenue generator in the Americas. The increasing awareness about cardiac rehabilitation and high patient burden in South American countries such as Brazil and Chile are expected to drive the growth of the market in this region during the forecast period. In 2017, the market in EMEA accounted for close to 36% market share. The growth of this region can be attributed to the unmet demand from MEA, where the prevalence of cardiovascular diseases is high, and the availability of cardiac rehabilitation programs is low.
According to a senior analyst at Technavio for research on health and wellness, “APAC is expected to witness the highest growth rate during the forecast period due to the presence of many LMICs and the highest prevalence of cardiovascular diseases. The increasing number of established hospitals and rising need to meet the large demand for cardiac rehabilitation programs are also driving the growth of the market in this region.”
Competitive vendor landscape
The cardiac rehabilitation market is fragmented due to the presence of several players. This industry research report provides a comprehensive analysis of the market’s competitive landscape. Moreover, the report also provides an analysis of the key strategies the competitors follow to sustain the market’s competitive environment. The leading players such as Apollo Hospitals, Cedars-Sinai, Cleveland Clinic, CMFT, and MFMER are developing programs such as telerehabilitation and cardiac rehabilitation through mobile applications.
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