Market Definition
A wearable atrial fibrillation detection device is a wearable device that is used to detect atrial fibrillation, a type of heart arrhythmia. Atrial fibrillation is a condition in which the hearts electrical impulses are out of sync, causing the heart to beat irregularly. This can lead to a number of complications, including stroke. Wearable atrial fibrillation detection devices use sensors to detect the hearts electrical activity and can alert the user if atrial fibrillation is detected. These devices are often worn on the chest, and some models can also be worn on the wrist.
Market Outlook
The global wearable atrial fibrillation detection devices market was valued at USD 2.3 billion in 2021 and it is anticipated to grow up to USD 7.0 billion by 2031, at a CAGR of 11.8% during the forecast period.
There are several key drivers of the wearable atrial fibrillation detection devices market. One of the most important drivers is the increasing prevalence of atrial fibrillation. Atrial fibrillation is a type of arrhythmia, or irregular heartbeat, that affects millions of people around the world. The condition can lead to serious health complications, including stroke, so early detection is critical. Another key driver of the wearable atrial fibrillation detection devices market is the aging population. As people age, they are more likely to develop atrial fibrillation. This is due to a variety of factors, including increased risk of cardiovascular disease and changes in the structure and function of the heart. Advances in technology are also driving the market for wearable atrial fibrillation detection devices. These devices are becoming more sophisticated and are able to provide more accurate and detailed information about a person’s heart health. This is important for both diagnosis and treatment of atrial fibrillation.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Wearable Atrial Fibrillation Detection Devices Market Segmental Overview
The report analyses the global wearable atrial fibrillation detection devices market based on component, application, end-user, and region.
Global Wearable Atrial Fibrillation Detection Devices Market by Component
Based on component, it is segmented into hardware, and software. Among these, the hardware segment is estimated to account for a substantial share in the wearable atrial fibrillation detection devices market through 2031. This rise can be attributed to the availability of a range of wearable devices in healthcare. Some of these devices include smart patches, rings, watches and others. Of these, ring-type wearables, equipped with deep learning analysis of PPG signals could help in the accurate diagnosis of AF without depending on electrocardiography. Similar devices enable the continuous monitoring of AF in high-risk populations.
Global Wearable Atrial Fibrillation Detection Devices Market by Application
Based on the application, the wearable atrial fibrillation detection devices market is segmented into Smart Watches, Patches, Holter Monitors, and Others. The smart watches segment is projected to register appreciable growth by 2028 owing to the extensive adoption of these devices and their demonstrated accuracy in screening individuals for AF. Furthermore, the use of PPG in smartwatches helps patients in taking an ECG with the tap of a button. The devices can be considered as screening tools for people at high risk of the condition because of increased age or factors pertaining to cardiovascular risk.
Global Wearable Atrial Fibrillation Detection Devices Market by End-user
With regards to end-user, the wearable atrial fibrillation detection devices market is divided into hospitals & clinics, ambulatory facilities, and others. In 2021, the hospitals and clinics segment accounted for the highest market share and is anticipated to maintain its dominance during the forecast period. This can be attributed to well-equipped infrastructure, availability of advanced devices, a rise in the number of practitioners & patients, and an increase in collaborations to help reduce the burden of diagnosis & treatment. Technological advancements, shifting interest toward ambulatory centers for treatment, and availability of advanced devices like ECG patches & portable Holter for ambulatory ECG monitoring have led to an increase in the number of patients opting for diagnosis in the ambulatory facilities, driving the market growth. As these devices facilitate immediate transfer of data pertaining to outpatient procedures, demand for ambulatory centers is expected to increase for accurate assessment of cardiac arrhythmias.
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Major Players in the Global Wearable Atrial Fibrillation Detection Devices Market
The key players in the wearable atrial fibrillation detection devices market Apple, Inc., AliveCor, Cardiac Insight, Applied Cardiac Systems, LifeWatch, Garmin, CardioNet, Dr Trust, Phablecare, and Omron. among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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