The Global Heart Rate Monitor Market heading with the increasing number of the patient suffering from obesity and diabetes and the changing lifestyle will create a larger revenue pocket in the wearable devices market. Market Research Future (MRFR) in its recently published study report asserts that the Global Heart Rate Monitor Market will garner colossal accruals by 2023, registering a CAGR over 13.50% throughout the forecast period (2017-2023).
Heart Rate Monitors are used for the continuous monitoring of heartbeats and thus, the heart health. The heart rate monitor market has been accruing pervasively mainly due to the increasing trend for using wearable fitness devices over the past couple of years. Moreover, the skyrocketing demand for these devices led by the increasing emphasis of people on health and fitness escalates the market on the global platform.
Heart Rate Monitor Market – 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.)
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Heart Rate Monitor Market – Segmentation
By type, the global heart rate monitors market is segmented into wearable, and non-wearable. The wearable segment is further sub-segmented into chest strap, wrist strap, and strapless. The non-Wearable segment is sub-segmented into analog, and digital. The wearable segment is expected to grow at 14.12% CAGR.
By application, the heart rate monitors market has been segmented into sports, medical, and others.
By end-user, the global heart rate monitors market is segmented into hospital & clinics, sport medicine centers, professionals, individuals, and others. The sport medicine centers segment is poised to exhibit 14.01% CAGR.
January 29, 2019 – Huawei Technologies Co., Ltd. (China), a multinational conglomerate specializing in telecommunications equipment, consumer electronics, and technology-based services and products launched two of its new wearable devices Honor Watch Magic and Band 4 Running Edition in India. The Watch Magic is a smartwatch that comes with a heart rate sensor which keeps a tab on the heart in real-time.
January 21, 2019 – Fitbit, Inc. (the US), a leading global technology company providing health solutions launched a new pair of wearable activity trackers named as – the Fitbit Inspire and Fitbit Inspire HR, designed specifically for corporate partners such as health plans, wellness plans, health systems, and other enterprise partners.
The Fitbit Inspire HR has an added feature alongside a few more functionalities including the heart rate monitor, such as round-the-clock heart rate tracking, sleep stage monitoring, and location and pace tracking enabled through a paired phone GPS.
In August 2018, Cleer, Inc., designer and manufacturer of high-performance personal entertainment products launched Bluetooth headphones with heart rate monitor system.
Heart Rate Monitor Market – Key Findings
- The Heart Rate Monitors Market is expected to grow at a CAGR of 14.12%
- According to the application, sports is the largest segment valued at USD 682.30 million in 2016
- According to the end user, the sport medicine centers is the fastest growing segment at a CAGR of 14.01%
Heart Rate Monitors Market – Regional Analysis
By region, the Global Heart Rate Monitors Market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is likely to retain a dominant position in the global market across the assessment period. The growth of the market in Americas can be ascribed to the developed healthcare sector, rising government support, and concentration of key players in the market.
Europe is estimated to hold the second position in the global market due to the rising prevalence of cardiovascular diseases, diabetes, etc. Germany and France are poised to be the primary revenue generators in the region.
Asia Pacific is estimated to exhibit a relatively higher growth rate. Technologically advanced medical devices, increasing demand for heart rate monitors, and the presence of huge patient pool are projected to be the key driving factors of market proliferation. The Middle East & Africa is expected to command the least share of the global heart rate monitors market owing to limited technological penetration.
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