Overview and Scope
A wearable heart monitor refers to a personal monitoring device that records and tracks heart rate using an electrical detection band that wraps around the chest. It is primarily used to collect heart rate data while engaging in various types of physical activities and other exercises.
Sizing and Forecast
The wearable heart monitoring devices market size has grown rapidly in recent years. It will grow from $2.19 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to increased focus on preventive healthcare, rise in chronic cardiovascular conditions, miniaturization and wearable design, health and fitness trends, clinical adoption and validation..
The wearable heart monitoring devices market size is expected to see rapid growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to increasing aging population, rising health consciousness, integration with smartphones and iot, expansion of remote patient monitoring, emphasis on personalized healthcare.. Major trends in the forecast period include miniaturization and wearable design, advancements in sensor technology, integration of ai and machine learning, remote patient monitoring, focus on preventive healthcare..
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Segmentation & Regional Insights
The wearable heart monitoring devices market covered in this report is segmented –
1) By Device Type: Diagnostic And Monitoring Devices, Therapeutic Devices
2) By Product Type: Electric Pulse-Based Product, Optical Technology-Based Product
3) By Distribution Channel: Pharmacies, Online Channels, Hypermarkets
4) By Application: Sports And Fitness, Remote Patient Monitoring, Home Healthcare
North America was the largest region in the wearable heart monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the wearable heart rate monitoring devices market report during the forecast period. The regions covered in the wearable heart monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing incidence of cardiovascular diseases (CVD) is expected to propel the growth of the wearable heart monitoring devices market going forward. Cardiovascular diseases that include abnormalities in the heart such as atrial fibrillation, ventricular fibrillation, and atrioventricular block require long-term monitoring. Patients suffering from cardiovascular diseases would need wearable devices that enable continuous heart monitoring which is very crucial to track the heart rate. For instance, in October 2022, according to the Center for Disease Control and Prevention (CDCP), a US-based government agency, in the United States, one person dies from cardiovascular disease every 34 seconds. Further, in 2021, approximately 695,000 people in the United States died from heart disease, with adults under the age of 65 accounting for two-tenths of CAD deaths. Therefore, the increasing incidence of cardiovascular diseases (CVD) drives wearable heart monitoring devices.
Key Industry Players
Major companies operating in the wearable heart monitoring devices market are focused on developing innovative products, such as electrocardiogram (ECG) patches, to gain a competitive edge in the market. An electrocardiogram (ECG) patch is a small, wearable device that records the heart’s electrical activity. For instance, in May 2023, Vivalink, a US-based provider of remote patient monitoring services, launched a multi-parameter wearable electrocardiogram (ECG) patch with 14-day live stream capabilities. The patch is a wearable device that continuously monitors a patient’s heart rhythm and streams the data live to a mobile device or the cloud. The 14-Day Live Stream ECG Patch is designed for in-hospital and remote patient monitoring applications. It is ideal for patients with a history of heart disease, atrial fibrillation, or other cardiac conditions.
The wearable heart monitoring devices market report table of contents includes:
1. Executive Summary
2. Wearable Heart Monitoring Devices Market Characteristics
3. Wearable Heart Monitoring Devices Market Trends And Strategies
4. Wearable Heart Monitoring Devices Market – Macro Economic Scenario
5. Global Wearable Heart Monitoring Devices Market Size and Growth
……
31. Global Wearable Heart Monitoring Devices Market Competitive Benchmarking
32. Global Wearable Heart Monitoring Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Wearable Heart Monitoring Devices Market
34. Wearable Heart Monitoring Devices Market Future Outlook and Potential Analysis
35. Appendix
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