Heart Rate Monitor Market Research Report – Forecast to 2030

Heart Rate Monitor Market Research Report – Forecast to 2030

ID: MRFR/MED/0862-CR | February 2021 | Region: Bric | 110 pages

Impact of Coronavirus (COVID-19) on the Global Heart Rate Monitor Market

COVID-19 is a respiratory disease caused due to coronavirus. Currently, the world is facing a pandemic due to COVID-19. The pandemic has increased the demand for the heart rate monitor market currently. This is because coronavirus affects the heart, lung tissues, hence causing respiratory problems which are increasing the demand for the devices. According to the study conducted by the American College of Cardiology on 138 hospitalized COVID-19 patients, 16.7% of patients had arrhythmia and 7.2% experienced an acute cardiac injury, in addition to other COVID-19 related complications.

The rapidly growing number of COVID-19 cases, and social distancing due to the COVID-19 pandemic, are causing increased levels of stress and anxiety for many people which is increasing the demand for heart rate monitoring devices. So, the companies are expanding their manufacturing capacities to cater to the demand for these products. Also, the different mobile health, remote health, e-health, hospital care, and diagnostics startups and emerging companies are responding during the COVID-19 pandemic.

The companies involved in offering wearable devices that track a user’s heart rate variability (HRV) play a role in reducing anxiety. These devices improve heart rate variability, an important biomarker of stress, with special biofeedback exercises.

  • On 21 April 2020, SAMSUNG receives clearance from South Korea’s Ministry of Food and Drug Safety (MFDS) for electrocardiogram (ECG) function of the Samsung Health Monitor app facilitates for easy and more convenient monitoring and tracking of blood pressure.

  • Nanowear, Inc. is the US-based company builds a cloth-based, nanotechnology-powered, FDA cleared monitoring platform. Due to the overburdened healthcare systems during the coronavirus pandemic and a higher risk of infections, patients with non-emergency cases are asked not to visit hospitals. Cloth-based nanosensors solve this challenge by enabling doctors to remotely monitor the cardiac health of their patients.

  • Lief Therapeutics, Inc. the US-American startup manufactured a wearable device for mental health. Lief Rx is an FDA electrocardiogram sensor that examines heart rate variability (HRV). The device also helps users to improve their HRV with biofeedback exercises to reduce anxiety and stress levels caused due to COVID-19.

  • On May 2020, the US FDA granted an Emergency Use Authorization (EUA) to VitalConnect that allows its VitalPatch wearable sensor to track eight vital signs such as single-lead ECG and heart rate variability, activity, and respiratory rate for patients undergoing COVID-19 treatment.

In increasing manufacturing capacity and receiving FDA approvals for the heart rate monitor is positively impacting the market growth.