Market Research Future published a half-cooked research report on “Global Heart rate monitor Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Heart rate monitors devices are used to measure the heart rate or pulse of an individual. The global heart rate monitoring devices market is primarily driven by factors such as rising awareness among population towards health care and fitness. Moreover, factors such as increasing number of gyms, increasing heart related diseases and expanding number of people who are suffering from diabetes and cardiac diseases are some of the key drivers for the rapid growth of global heart rate monitoring devices market.
Furthermore, the increasing use of smart phones worldwide is escalating the growth of heart rate monitoring devices. The compatibility of smartphones with heart rate monitoring devices is expected to impel the demand for heart rate monitoring devices in near future. Adoption of these monitoring devices in performing activities such as climbing, sports activities, swimming, running, hiking and other is also expected to escalate the demand for heart rate monitoring devices. According to CDC, as of 2012, in the US alone, 117 million people had at least one chronic disease. This number is expected to rise to 160 million by the end of 2020. There has been an increase in the incidence of cardiac diseases globally. A sudden cardiac arrest is the leading cause of death among individuals aged above 40, especially those over the age of 60.
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The inability of wrist band heart rate monitoring devices to produce precise heart rate data along with lack of consumer’s awareness towards heart rate monitoring devices are the major factor that hamper the growth of global heart rate monitoring devices in near future.
Apple (U.S.), Garmin Ltd. (Switzerland), Samsung (South Korea.), Nike (U.S.), Fitbit (U.S.), Motorola (U.S.), Casio Computer Co. Ltd. (Japan), Polar Electro Oy (Finland), Sony (Japan), Adidas (Germany), Jabra (Denmark), Jarvmobile (U.S.), Jawbone (U.S.), LifeBEAM Technologies (U.S.), Mio Global (Canada), MYZONE (UK), Omron Healthcare (Japan), Pyle (U.S.), Scosche Industries (U.S.), Timex Group (U.S.), TomTom International (Netherlands), and Wahoo Fitness (U.S.), and others are some of the prominent players at the forefront of competition in the global duodenoscopes market and are profiled in MRFR Analysis.
The global heart rate monitors market is projected to grow at a CAGR of 4.5 % during 2017-2023.
October, 2017 FitBit launched a device called Surge that comes with calling and texting functionalities, integrating smartwatch features in fitness devices.
March, 2017 Fitbit globally launched its new product Alta HR, the world’s slimmest fitness wristband with continuous heart rate tracking
March, 2017 Garmin launched a new product the Forerunner 935. It is a premium GPS running and triathlon watch with performance monitoring and wrist-based heart rate.
November, 2016 LG Electronics has introduced Fr74 Heart rate monitor earphones used in real-time heart monitoring.
July, 2016 Fitbit, Inc. Acquires Assets from Pebble. With this acquisition, Fitbit adds deep industry expertise in platform development that complements the company’s core discipline of innovative health and fitness features.
May, 2016 Garmin launched vívosmart HR+, a smart activity tracker with wrist-based heart rate plus GPS
November, 2014 Jawbone announced UP3 a multi sensor activity tracker that provides in depth information about your health and fitness
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Global Heart Rate Monitor Market – Regional Analysis
The global heart rate monitoring devices market is segmented into five major regions including Americas, Europe, Asia Pacific, and Middle East and Africa region.
America contributed to the largest among all the regions in the world, the U.S. has been the first choice for the deployment of mobile health solutions due to established healthcare systems and technology advancement. Moreover, the factors such as presence of plenty of manufacturers and rising awareness towards latest smart healthcare devices, rising number of people suffering from cardiac diseases and diabetes is also anticipated to propel the growth of health monitoring devices market in this region.
European region includes both Eastern and Western European countries which are involved in deployment of heart rate monitor solutions. The countries that are majorly involved in heart rate monitor market are the U.K., France, Germany, Spain and Italy among others. Europe region is the second leading market for heart rate monitoring devices. Factors such as rising rapid advancement in healthcare infrastructure and medical sector in Europe region is expected to drive the growth of heart rate monitoring devices market in this region.
The Asia Pacific region has been showing a tremendous growth in the heart rate monitor market and is expected to dominate the industry by the end of forecast period. The driving factors include due to emergence of new electronic and medical device industries and higher efficiency of their products in this region.
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Due to increasing prevalence of heart diseases across the globe many of the companies are in the race of inventing the better treatment devices for the management of cardiac diseases. Companies are using a trend of strategic alliance and acquisition to gain the market and minimize the competition in the market.
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