Global Heart Rate Monitors Market, By Product (Wearable and Non-Wearable), End Users (Hospital and Clinics, Sport Medicine Centers, Professionals and Individuals), Indication (Sports and Medical)-Industry Trends and Forecast to 2029.
Market Analysis and Size
In recent years, heart rate monitors have become one of the significant needs across health systems. According to the American Heart Association, cardiovascular disease is estimated to be the leading global cause of death. The most prevalent pulse sensors in wearables are heart rate monitors. The majority of them obtain heart-rate information by "photoplethysmography," or blood flow measurement using light.
-
Data Bridge Market Research analyses that the heart rate monitors market is expected to reach at a CAGR of 13.55% during the forecast period. The rise in the aviation sector is escalating the growth of heart rate monitors market.
Market Definition
Heart rate monitors devices are known to permit measuring and displaying heart rate in real time and recording the heart rate for later purpose. In the present scenario, these devices are flagrantly utilized to gather heart rate data while accomplishing several types of physical activities.
Heart Rate Monitors Market Dynamics
Drivers
-
The rise in the knowledge amongst people related to health care and fitness
Growing awareness regarding the current health issues that are arising due to the hectic lifestyle, unbalanced diet and the options for their management thus lifting the growth of the market.
-
The increase in the trend of wearable diagnostic devices
Because growing number of people who are currently inclining towards sports activities and the rising number of health-conscious people who are focusing on healthy lifestyle.
-
Growing knowledge related to the cardiovascular diseases.
Cardiovascular disease can be mentioned to a number of conditions including heart attack, stroke, heart failure, arrhythmia and others.
Rising popularity of gym
Increasing demand for gyms and physical sports activities including swimming, running and trekking is further estimated to cushion the growth of the heart rate monitors market.
Opportunities
In addition, the growing number of people with ailments such as high blood pressure, diabetes and high cholesterol and rise in the penetration of smart phones will further provide potential opportunities for the growth of the heart rate monitors market in the coming years.
Restraints/Challenges
On the other hand, the dearth of awareness in under advanced countries is further projected to impede the growth of the heart rate monitors market in the timeline period. However, the growing demand to show more accurate results in some of the devices might further challenge the growth heart rate monitors market in the near future.
This heart rate monitors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heart rate monitors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Heart Rate Monitors Market
The COVID-19 pandemic has affected the global heart rate monitor market by producing challenges in manufacturing devices. The lockdown restrictions have also severely impacted the supply chain of the heart rate monitor market. Since the number of patients and the usage of heart rate gadgets has expanded significantly, the demand for heart rate monitors is also projected to increase due to COVID-19.
Recent Development
- In 2020, Amazfit had launched Stratos 3 smartwatch, which comes with a 24-hour heart rate monitor to measure the cardiorespiratory performance of the person.
Global Heart Rate Monitors Market Scope
The heart rate monitors market is segmented on the basis of product, end users and indication. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
-
Wearable
-
Non-Wearable
On the basis of product, the heart rate monitors market is segmented into wearable and non-wearable. Wearable has been further sub segmented into chest strap, wrist strap and strapless.
End Users
-
Hospital and Clinics
-
Sport Medicine Centers
-
Professionals
-
Individuals
On the basis of end users, the heart rate monitors market is segmented into hospital and clinics, sport medicine centers, professionals and individuals.
Indication
- Sports
- Medical
On the basis of indication, the heart rate monitors market is segmented into sports and medical.
Heart Rate Monitors Market Regional Analysis/Insights
The heart rate monitors market is analysed and market size insights and trends are provided by country, product, end users and indication as referenced above.
The countries covered in the heart rate monitors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the heart rate monitors market due to the rise in healthcare expenses. Furthermore, the well-established technologies and growing emphasis on healthcare will further boost the growth of the heart rate monitors market in the region during the forecast period.
Asia-pacific is projected to observe a significant amount of growth in the heart rate monitors market due to the huge patient pool. Moreover, the growing geriatric population is further anticipated to propel the growth of the heart rate monitors market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The heart rate monitors market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for heart rate monitors market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the heart rate monitors market. The data is available for historic period 2010-2020.
Competitive Landscape and Heart Rate Monitors Market Share Analysis
The heart rate monitors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heart rate monitors market.
Some of the major players operating in the heart rate monitor market are Alphabet Inc., ANTA Sports Products Ltd., Apple Inc., Biotronik, Garmin Ltd., Koninklijke Philips N.V., OMRON Corporation, Polar Electro, Wahoo Fitness, Xiaomi., SAMSUNG, Nike, Inc., Visiomed Group SA, Fitbit, Inc., Beurer GmbH, LG Electronics., Motorola Solutions, Inc., Sony Corporation among others.
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
