Heart Rate Monitor Market – growing prevalence of cardiac diseases coupled with the development of smart wearables is expected to compel the market to a momentous growth

Pune, India, 2022 /press release/- Market Research Future Published a Half Cooked Research Report on Global Heart Rate Monitor Research Report.

Market Scenario:

Heart rate monitors are devices designed for continuous monitoring of heart rate or pulse which is one of the major procedures in cardiac diseases management. 

The Heart Rate Monitor Market is expected to reach USD 12,320 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030

Market Dynamics:

Drivers

Increasing incidence and prevalence of cardiopathies, and growing volume and degree of concurrent risk factors such as sedentary lifestyles, large intake of fatty and junk foods, smoking, alcoholism, stress and others are the critical drivers of the market. According to the World Health Organization (WHO) estimates, cardiovascular diseases resulted in over 17.7 million deaths, representing 31% of all global deaths in 2015, with almost 82% of the total deaths in the low- and middle-income countries. The growing risk factors is underlined by the WHO estimates of approximately 422 million diabetics in 2015 across the globe.

Technological drivers of the market are development of smart wearable, sensors technology, miniaturization, connected healthcare technologies, adoption of smart devices, development of heart rate mobile apps and others.

Restraints

The high cost of wearable heart rate monitors is hampering the market growth.

Segments:

To generate a bird’s view of the market the global heart rate monitors report is segmented on the basis of types, application and end users.

Types – wearable (chest strap, wrist strap, and strapless) and non-wearable devices (analogue, and digital). The wearable heart rate monitors is expected to generate the fastest growth at a CAGR of 14.12 % of the global heart rate monitors report by types.

Application - sports, medical, and others. The sports segment is the largest market share of 1682.30 million in 2016.

End user - hospital & clinics, sport medicine centers, professionals, individuals, and others. The sport medicine centers is expected to generate the fastest growth at a CAGR of 14.01 % by end users.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Heart Rate Monitor Market Research Report

Regional analysis:

The Americas led by the U.S. are the largest market for global heart rate monitors owing to developed healthcare infrastructure, high healthcare expenditure, large population of cardiac patients, and concentration of major players in the market. Rising government support and excellent reimbursement is propelling the growth of the Americas heart rate monitors market. The Centers for Disease Control and Prevention (CDC) estimates that over 630,000 deaths occured in the U.S. due to heart disease every year. Thus a large market is easily comprehendible. Europe captured the second largest market share attributed to an increasing prevalence of cardiac diseases, large medical devices industry of Germany, and developed healthcare infrastructure. Germany, France and the U.K. accounted for the largest market share of the European region.

Asia Pacific is expected to be the fastest growing region owing to increasing awareness and shift of cardiac diseases towards developing regions. China and India are expected to lead the Asia Pacific region owing to their large population and economy. The Middle East & Africa are expected to generate moderate growth skewed in favor of the Gulf economnies of Saudi Arabia, UAE and others.

Major players:

Some of the dominant players in the global heart rate monitors market are Fitbit Inc. (U.S.), Apple (U.S.), SAMSUNG ELECTRONICS Co. Ltd. (South Korea), Garmin Ltd.(U.S.), Visiomed Group (France), Polar Electro (Finland), TomTom International BV (The Netherlands),Nike (U.S.), Mio Global (South Korea), Beurer GmbH (Germany), Omron Healthcare (Japan), Inc., LG Electronics (South Korea), nu-beca & maxcellent co. (Taiwan),  Motorola Solutions, Inc. (U.S.), Sony (Japan), and others. Other players are Nokia (Finland), SUUNTO (Finland), Decathlon (France), Wahoo Fitness (U.S.), Motorola, Bragi (Germany), Moov Inc. (U.S.), Jabra (Germany), MYZONE (U.S.), and Scosche Industries. (U.S.)