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Wearable Atrial Fibrillation Detection Devices Market Size
Wearable Atrial Fibrillation Detection Devices Market size is expected to record a commendable CAGR between 2024 and 2032, driven by the increasing emphasis on the timely diagnosis and treatment of atrial fibrillation (AFib). As per the CDC, by 2030, approximately 12.1 million individuals residing in the U.S. will be diagnosed with atrial fibrillation.
Additionally, advancements in sensor technology, miniaturization, and connectivity have led to the development of more accurate and user-friendly wearable devices, further propelling the market expansion. The integration of AI and machine learning algorithms in wearable devices to enhance their diagnostic capabilities while improving accuracy and reliability in AFib detection will drive the industry progression.
Wearable Atrial Fibrillation Detection Devices Market Trends
Another significant trend driving the industry expansion is the integration of advanced sensor technologies, such as photoplethysmography (PPG) and electrocardiography (ECG) into wearable devices for enhancing their accuracy and reliability in detecting atrial fibrillation. Of late, there is growing emphasis on product developments with improved battery life, compact form factors, and user-friendly interfaces to enhance usability and convenience for consumers. Moreover, the emergence of telemedicine and remote patient monitoring platforms has led to the integration of wearable AFib detection devices with cloud-based analytics and smartphone applications for enabling real-time monitoring and data analysis.
Wearable Atrial Fibrillation Detection Devices Market Analysis
Based on component, the market share from the hardware segment is estimated to account for a substantial share by 2032, attributed to the availability of a range of wearable devices in healthcare. Some of these devices include watches, smart patches, rings, and others. Of them, ring-type wearables, designed with deep learning analysis of PPG signals help in the accurate diagnosis of AFib without depending on electrocardiography.
By application, the smart watches segment is likely to register lucrative growth by 2032, owing to large adoption and demonstrated accuracy in screening individuals for AFib. Moreover, the usage of PPG in smartwatches aids patients in taking an ECG with the tap of a button. The devices can also be considered as screening tools for people at high risk of the condition due to growing age or factors pertaining to cardiovascular risk.
Regionally, the North America wearable atrial fibrillation detection devices market share is anticipated to depict lucrative gains up to 2032, due to the upsurge in clearances by regulators in the region. For instance, in October 2021, Withings secured the U.S. FDA approval for its ScanWatch. The device was capable of measuring blood oxygen levels from the wrist and helped in the detection of AF via a medical-grade ECG.
Wearable Atrial Fibrillation Detection Devices Market Share
Major players across the wearable atrial fibrillation detection devices industry comprise:
- Applied Cardiac Systems
- Apple, Inc.
- AliveCor
- Cardiac Insight
- LifeWatch (BioTelemetry)
- Garmin
- CardioNet
These companies are taking a keen interest in the implementation of strategic initiatives, such as mergers, acquisitions, partnerships, and collaborations for the consolidation of their position in the market.
Wearable Atrial Fibrillation Detection Devices Industry News
- In March 2021, AliveCor joined forces with AstraZeneca to develop a new disease management solutions in CVRM (cardiovascular, renal, and metabolism) therapeutic areas.