The wearable heart rate monitor serves as a personal monitoring device, enabling real-time tracking of heart rate. Available as wristbands and chest straps, these devices are compact, lightweight, and specifically designed for use in challenging environments. Advanced features of heart rate monitors encompass activity tracking, heart rate variation analysis, breathing rate measurement, and core temperature monitoring. The wristband variant stands out as a favored choice among the two options due to its comfort and user-friendly design.
According to Data Bridge Market Research, the Wearable Heart Monitoring Devices Market accounted for USD 1.88 billion in 2022 and is expected to reach USD 4.28 billion by 2030. The market is expected to grow with a CAGR of 10.8 % in the forecast period of 2023 to 2030.
“Rise in the number of the geriatric and obese population”
The growth of the wearable heart monitoring devices market is expected to be boosted by the increasing number of geriatric and obese populations. Both of these demographic segments are more prone to cardiovascular diseases and related conditions. Wearable heart monitoring devices provide continuous tracking and monitoring of heart health, enabling early detection and timely intervention. With a growing geriatric and obese population worldwide, the demand for such devices is anticipated to rise, driving market growth in the wearable heart monitoring sector.
What restraints the growth of the wearable heart monitoring devices market?
“Unfavourable standards and regulations”
The growth rate of the market can be hindered by unfavourable standards and regulations. National authorities hold significant influence over the reimbursement policies for mobile healthcare, and in some EU member states, regulations define medical care based on physical presence, impacting reimbursements for remote and mobile healthcare solutions. These regulations pose challenges to the widespread adoption of wearables in the healthcare sector.
Segmentation: Wearable Heart Monitoring Devices Market
The wearable heart monitoring devices market is segmented on the basis of product, device type, application, distribution channel, type, and end use.
- On the basis of product, the wearable heart monitoring devices market has been segmented into electric pulse bases product, optical technology based product.
- On the basis of device type, the wearable heart monitoring devices market has been segmented into diagnostic and monitoring devices, therapeutic devices.
- On the basis of application, the wearable heart monitoring devices market has been segmented into sports and fitness, remote patient monitoring, home healthcare.
- On the basis of distribution channel, the wearable heart monitoring devices market has been segmented into pharmacies, online channels, hypermarkets.
- On the basis of type, the wearable heart monitoring devices market has been segmented into activity monitors, Smartwatches, Smart Clothing, and patches.
- On the basis of end use, the wearable heart monitoring devices market has been segmented into retail pharmacies, hospitals, academic institutes, others.
Regional Insights: North America Dominates the Wearable Heart Monitoring Devices Market
North America dominates the wearable heart monitoring devices market the growth rate in this region will be driven by its robust healthcare sector and advanced information technology infrastructure. Moreover, the rising prevalence of AFib diseases will further accelerate the market's expansion.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030. The market's growth in this region can be attributed to the escalating incidence of heart diseases and the expanding population.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-wearable-heart-monitoring-devices-market
Recent Development
- In 2021, RhythMedix announced the launch of RhythmStar, a wearable cardiac monitoring device for arrhythmia detection. The new RhythmStar is a discreetly worn device that enables long-term remote monitoring without using a phone or other communication equipment. The technology allows for the company's team of certified technicians in the United States to analyse ECGs and diagnose cardiac irregularities quickly, alerting clinicians when a potentially dangerous arrhythmia is detected.
The Prominent Key Players Operating in the Wearable Heart Monitoring Devices Market Include:
- Medtronic (Ireland)
- Johnson & Johnson Private Limited (U.S.)
- Zimmer Biomet (U.S.)
- 3M (U.S.)
- Smith+Nephew (U.K.)
- Boston Scientific Corporation (U.S.)
- Integra LifeSciences (U.S.)
- Abbott (U.S.)
- Stryker (U.S.)
- CONMED Corporation (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Cardinal Health (U.S.)
- NuVasive, Inc. (U.S.)
- BIOTRONIK SE & Co KG (Germany)
- LivaNova PLC (U.K.)
- William Demant Holding A/S (Denmark)
- Nurotron Biotechnology Co. Ltd. (China)
- Sonova Holding AG (Switzerland)
- C.R. Bard Inc. (U.S.)
- Microport Scientific Corporation (China)
- Globus Medical, Inc. (U.S.)
- MED-EL (Austria)
Above are the key players covered in the report, to know about more and exhaustive list of wearable heart monitoring devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Wearable Heart Monitoring Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
