Heart Rate Monitor Market Research Report- Forecast till 2027
Heart Rate Monitor Market
Wearable medical devices have now gained popularity from last few years owing to their increasing use among the health-conscious people and technological penetration in various regions across the globe. Heart rate monitors are of two types namely, wearable and non-wearable devices. Chest strap, wrist strap, and strapless devices are wearable heart rate monitors. These devices have an embedded sensor which continuously keeps a check on the heart rate of a person during various physical activities as well as when the body is at rest. Key players in the market are tapping new regions in the developing economies across the globe to take a hold of the markets. The global heart rate monitors market is driven by increasing prevalence of cardiovascular diseases and diabetes, rapidly developing technology, and increasing geriatric population across the globe, which has fueled the growth of the market.
Market Research Future (MRFR) in its recently published study report asserts that the global heart rate monitor market will garner colossal accruals by 2027, registering a CAGR over 13.50% throughout the forecast period
According to the World Health Organization, diabetes is a major risk factor for cardiovascular diseases whose prevalence is found to be increased tremendously across the globe. The WHO stated that 422 million people across the globe are suffering from diabetes. The high cost of wearable heart rate devices may restrain the growth of the market over the assessment period.
Major Key Players:
Some of the major players in this market are Apple (U.S.), Garmin Ltd.(U.S.), Visiomed Group (France), SAMSUNG ELECTRONICS Co. Ltd. (South Korea), Nike (U.S.), Fitbit Inc. (U.S.), Mio Global (South Korea), Beurer GmbH (Germany), Omron Healthcare (Japan), Inc., LG Electronics (South Korea), nu-beca & maxcellent co. (Taiwan), Motorola, Polar Electro (Finland), TomTom International BV (The Netherlands), Motorola Solutions, Inc. (U.S.), Sony (Japan), and others. Other players are SUUNTO (Finland), MYZONE (U.S.), Wahoo Fitness (U.S.), Moov Inc. (U.S.), Nokia (Finland), Bragi (Germany), Jabra (Germany), Decathlon (France), and Scosche Industries. (U.S.)
Segment Analysis
The global heart rate monitors market has been segmented on the basis of types, application, and end users. On the basis of the types, the global heart rate monitors market is segmented into wearable and non-wearable devices. The wearable devices are sub-segmented into chest strap, wrist strap, implanted heart monitor and strapless. Non-wearable devices are sub-segmented into analog and digital. Based on the application, it is segmented into sports, medical, and others. On the basis of the end users, the market is segmented into hospital & clinics, sport medicine centers, professionals, individuals, and others.
Regional Analysis
In the Americas, the market exhibits tremendous growth owing to an extensive use of heart rate monitors by the people and healthcare providers in hospitals and clinics. The U.S. is the largest market in the Americas owing to increasing patient population suffering from chronic diseases such as cardiovascular diseases and diabetes. The key players are engaged in product differentiation and geographical expansion to maintain their position in the market.
Europe is the second largest market followed by Asia Pacific. In Europe, the market shows growth opportunities in Germany, the U.K, and France. This growth is due to increasing availability of funds for research and development activities and rising prevalence of diabetes. Strong government support and high healthcare expenditure are driving the growth of the market.
Asia Pacific is the fastest growing market owing to increasing prevalence of diabetes and obesity and high geriatric population in developing regions such as India, China, and Japan, Additionally, increasing demand for technologically advanced wearable medical devices such as smartwatches and chest strap is further boosting the market growth. Moreover, increasing government support and presence of huge opportunity in medical device industry have together fueled the growth of the market in Asia Pacific region.
In the Middle East & Africa, the market exhibits steady growth owing to an increasing demand for healthcare services and positive growth of healthcare industry. The Middle East & African market is governed by increasing availability of tertiary healthcare services and growing awareness about cardiovascular diseases. In Africa, the market shows steady growth due to the limited availability of medical facilities, demand for primary care services, and poor economic condition in the African countries.
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 646 845 9312
Email: sales@marketresearchfuture.com
0
