What do you mean if it were real? I saw Criss Angel do a similar effect on one of his specials... or it just might of been the method.. Not sure.
Ok, let's not confuse what "real" or even "reality" is when it comes to the real world vs. that of Criss Angel Tv shows where "creative editing" and special effects styled technology are constantly justified. Criss does not do much in way of legit magic when he's on Television, he almost always pushes the envelope.
As to the video, the only way it would be "real" would involve a handful of devices known to the military & high-end securities industry but considered "controlled" and thus, not legal for private possession or use. More so, if you were to randomly use one of these systems in particular on or near someone with a pacemaker, you would more than likely kill them. Then there's the bolt of lightning in the video; to make one that big would require one hell of a power system, much more than the average person could wear e.g. you need some hidden power transfer plates that would permit you to make a Tesla styled arc akin to a Jacob's Ladder or Tesla coil in which you and the other person become conductors. Not only risky but again, we're looking at thousands of watts worth of power which simply isn't easy to keep on hand, even for a stage production.
Bottom line, this film footage is a stunt and the lightning bolt it shows was probably layered in as you would do in a Photoshop styled program. It IS NOT a legit illusion and in my mind, anything able to do this would be quickly be forced off the market because of how it could be easily abused.