Heart Rate Monitor Market Research Report – Forecast to 2027

Heart Rate Monitor Market Share Analysis And Growth By Type (Wearable (Chest Strap, Wrist Strap, Strapless), Non-Wearable), Indication (Sports, Medical) End Users (Hospital & Clinics, Sport Medicine Centers, Professionals, Individuals) – Forecast Till 2027

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

1 Report Prologue

2 Market Introduction

2.1 Scope of Study 16

2.2 Research Objective 16

2.3 Assumptions & Limitations 16

2.3.1 Assumptions 16

2.3.2 Limitations 16

2.4 Market Structure 17

3 Research Methodology

3.1 Primary Research Methodology 19

3.2 Secondary Research Methodology 20

3.3 Market Share Analysis 21

3.4 Trade Analysis 21

3.5 Market Pricing Approach 21

4 Market Dynamics

4.1 Introduction 22

4.2 Drivers 23

4.2.1 Increasing Prevalence of Cardiovascular Diseases 23

4.2.2 Favourable Reimbursement Policies 24

4.2.3 Increasing Geriatric Population 25

4.3 Restraints 26

4.3.1 High Cost of Smart Heart Rate Monitors such as Smart Watches and Availability of Similar Health Tracking Apps in Smart Phones 26

5 Market Factor Analysis

5.1 Porter’s Five Forces Model 27

5.1.1 Bargaining Power of Suppliers 28

5.1.2 Bargaining Power of Buyers 28

5.1.3 Threat of New Entrants 28

5.1.4 Threat of Substitutes 28

5.1.5 Intensity of Rivalry 28

5.2 Value Chain Analysis 29

5.2.1 Device manufacturers 30

5.2.2 App developers 30

5.2.3 Network providers/ Mobile operators 30

5.2.4 Healthcare providers 30

5.2.5 Patients 31

6 Heart Rate Monitors Market, By Type

6.1 Introduction 32

6.2 Wearable HR Monitors 33

6.3 Non-wearable HR Monitors 34

7 Heart Rate Monitors Market, by Application

7.1 Introduction 35

7.2 Sports 36

7.3 Medical 37

7.4 Others 37

8 Heart Rate Monitors Market, by End User

8.1 Introduction 38

8.2 Hospitals & Clinics 39

8.3 Sport Medicine Centers 40

8.4 Professionals 41

8.5 Individuals 42

9 Global Heart Rate Monitors Market, By Region

9.1 Introduction 43

9.2 Americas 45

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.2.1 U.S. 48

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.2.2 Canada 49

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.2.3 South America 51

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3 Europe 53

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.1 Germany 56

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.2 France 57

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.3 U.K 59

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.4 Italy 60

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.5 Spain 62

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.6 Rest of Western Europe 63

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.3.7 Eastern Europe 65

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4 Asia Pacific 67

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.1 Japan 70

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.2 China 71

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.3 India 73

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.4 Australia 74

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.5 Republic of Korea 76

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.4.6 Rest of Asia Pacific 77

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.5 Middle East & Africa 79

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.5.1 Middle East 82

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

9.5.2 Africa 83

Heart Rate Monitors Market, By Type

Heart Rate Monitors Market, by Application

Heart Rate Monitors Market, by End User

10 Competitive Landscape

10.1 Introduction 85

10.2 Company Share Analysis 86

10.3 Key Developments 87

11 Company Profiles

11.1 Fitbit, Inc. 88

11.1.1 Company Overview 88

11.1.2 Financials 88

11.1.3 Products 88

11.1.4 Strategy 88

11.1.5 Key Developments 88

11.2 Apple 89

11.2.1 Company Overview 89

11.2.2 Financials 89

11.2.3 Products 89

11.2.4 Strategy 89

11.2.5 Key Developments 89

11.3 Samsung Electronics Co., Ltd. 90

11.3.1 Company Overview 90

11.3.2 Financials 90

11.3.3 Products 90

11.3.4 Strategy 90

11.3.5 Key Developments 90

11.4 Nike 91

11.4.1 Company Overview 91

11.4.2 Financials 91

11.4.3 Products 91

11.4.4 Strategy 91

11.4.5 Key Developments 91

11.5 Garmin Ltd. 92

11.5.1 Company Overview 92

11.5.2 Financials 92

11.5.3 Products 92

11.5.4 Strategy 92

11.5.5 Key Developments 92

11.6 Motorola Solutions, Inc. 93

11.6.1 Company Overview 93

11.6.2 Financials 93

11.6.3 Products 93

11.6.4 Strategy 93

11.6.5 Key Developments 93

11.7 Polar Electro 94

11.7.1 Company Overview 94

11.7.2 Financials 94

11.7.3 Products 94

11.7.4 Strategy 94

11.7.5 Key Developments 94

11.8 Sony 95

11.8.1 Company Overview 95

11.8.2 Financials 95

11.8.3 Products 95

11.8.4 Strategy 95

11.8.5 Key Developments 95

11.9 Visiomed Group 96

11.9.1 Company Overview 96

11.9.2 Financials 96

11.9.3 Products 96

11.9.4 Strategy 96

11.9.5 Key Developments 96

11.10 Omron Healthcare, Inc. 97

11.10.1 Company Overview 97

11.10.2 Financials 97

11.10.3 Products 97

11.10.4 Strategy 97

11.10.5 Key Developments 97

11.11 Beurer GmbH 98

11.11.1 Company Overview 98

11.11.2 Financials 98

11.11.3 Products 98

11.11.4 Strategy 98

11.11.5 Key Developments 98

11.12 TomTom International BV 99

11.12.1 Company Overview 99

11.12.2 Financials 99

11.12.3 Products 99

11.12.4 Strategy 99

11.12.5 Key Developments 99

11.13 nu-beca & maxcellent co. 100

11.13.1 Company Overview 100

11.13.2 Financials 100

11.13.3 Products 100

11.13.4 Strategy 100

11.13.5 Key Developments 100


11.14 LG Electronics 101

11.14.1 Company Overview 101

11.14.2 Financials 101

11.14.3 Products 101

11.14.4 Strategy 101

11.14.5 Key Developments 101

11.15 Mio Global 102

11.15.1 Company Overview 102

11.15.2 Financials 102

11.15.3 Products 102

11.15.4 Strategy 102

11.15.5 Key Developments 102

12 Conclusion

12.1 Key Findings 103

12.1.1 CEO’s Viewpoint 103

12.1.2 Unmet Needs 103

12.1.3 Key Companies to Watch 103

12.1.4 Prediction of Medical Device Industry 103

13 Appendix

13.1 Discussion Blue Print 104

13.2 References 106

14 List of Tables

TABLE 1 PRIMARY INTERVIEWS 19

TABLE 2 GLOBAL HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 33

TABLE 3 GLOBAL WEARABLE HR MONITORS MARKET, BY REGION 2020-2027 (USD MILLION) 33

TABLE 4 GLOBAL NON-WEARABLE HR MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 34

TABLE 5 GLOBAL HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 35

TABLE 6 GLOBAL SPORTS MARKET, BY REGION, 2020-2027 (USD MILLION) 36

TABLE 7 GLOBAL MEDICAL MARKET, BY REGION, 2020-2027 (USD MILLION) 37

TABLE 8 GLOBAL HEART RATE MONITORS MARKET, END USER, BY REGION, 2020-2027 (USD MILLION) 39

TABLE 9 GLOBAL HOSPITALS & CLINICS MARKET, BY REGION, 2020-2027 (USD MILLION) 39

TABLE 10 GLOBAL SPORT MEDICINE CENTRES MARKET, BY REGION, 2020-2027 (USD MILLION) 40

TABLE 11 GLOBAL PROFESSIONALS MARKET, BY REGION, 2020-2027 (USD MILLION) 41

TABLE 12 GLOBAL INDIVIDUALS MARKET, BY REGION, 2020-2027 (USD MILLION) 42

TABLE 13 GLOBAL HEART RATE MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 44

TABLE 14 AMERICAS HEART RATE MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 46

TABLE 15 AMERICAS HEART RATE MONITORS MARKET, TYPE, 2020-2027 (USD MILLION) 46

TABLE 16 AMERICAS HEART RATE MONITORS MARKET, APPLICATION, 2020-2027 (USD MILLION) 47

TABLE 17 AMERICAS HEART RATE MONITORS MARKET, END USER, 2020-2027 (USD MILLION) 47

TABLE 18 U.S. HEART RATE MONITORS MARKET, TYPE, 2020-2027 (USD MILLION) 48

TABLE 19 U.S. HEART RATE MONITORS MARKET, APPLICATION, 2020-2027 (USD MILLION) 48

TABLE 20 U.S. HEART RATE MONITORS MARKET, END USER, 2020-2027 (USD MILLION) 49

TABLE 21 CANADA HEART RATE MONITORS MARKET, TYPE, 2020-2027 (USD MILLION) 49

TABLE 22 CANADA HEART RATE MONITORS MARKET, APPLICATION, 2020-2027 (USD MILLION) 50

TABLE 23 CANADA HEART RATE MONITORS MARKET, END USER, 2020-2027 (USD MILLION) 50

TABLE 24 SOUTH AMERICA HEART RATE MONITORS MARKET, TYPE, 2020-2027 (USD MILLION) 51

TABLE 25 SOUTH AMERICA HEART RATE MONITORS MARKET, APPLICATION, 2020-2027 (USD MILLION) 51

TABLE 26 SOUTH AMERICA HEART RATE MONITORS MARKET, END USER, 2020-2027 (USD MILLION) 52

TABLE 27 EUROPE HEART RATE MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 54

TABLE 28 EUROPE HEART RATE MONITORS MARKET, TYPE, 2020-2027 (USD MILLION) 54

TABLE 29 EUROPE HEART RATE MONITORS MARKET, APPLICATION, 2020-2027 (USD MILLION) 55

TABLE 30 EUROPE HEART RATE MONITORS MARKET, END USER, 2020-2027 (USD MILLION) 55

TABLE 31 GERMANY HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 56

TABLE 32 GERMANY HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 56

TABLE 33 GERMANY HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 57

TABLE 34 FRANCE HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 57

TABLE 35 FRANCE HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 58

TABLE 36 FRANCE HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 58

TABLE 37 U.K HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 59

TABLE 38 U.K HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 59

TABLE 39 U.K HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 60

TABLE 40 ITALY HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 60

TABLE 41 ITALY HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 61

TABLE 42 ITALY HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 61

TABLE 43 SPAIN HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 62

TABLE 44 SPAIN HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 62

TABLE 45 SPAIN HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 63

TABLE 46 REST OF WESTERN EUROPE HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 63

TABLE 47 REST OF WESTERN EUROPE HEART RATE MONITORS MARKET, BY APPLICATION,

2020-2027 (USD MILLION) 64

TABLE 48 REST OF WESTERN EUROPE HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 64

TABLE 49 EASTERN EUROPE HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 65

TABLE 50 EASTERN EUROPE HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 65

TABLE 51 EASTERN EUROPE HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 66

TABLE 52 ASIA PACIFIC HEART RATE MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 68

TABLE 53 ASIA PACIFIC HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 68

TABLE 54 ASIA PACIFIC HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 69

TABLE 55 ASIA PACIFIC HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 69

TABLE 56 JAPAN HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 70

TABLE 57 JAPAN HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 70

TABLE 58 JAPAN HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 71

TABLE 59 CHINA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 71

TABLE 60 CHINA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 72

TABLE 61 CHINA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 72

TABLE 62 INDIA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 73

TABLE 63 INDIA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 73

TABLE 64 INDIA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 74

TABLE 65 AUSTRALIA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 74

TABLE 66 AUSTRALIA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 75

TABLE 67 AUSTRALIA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 75

TABLE 68 REPUBLIC OF KOREA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 76

TABLE 69 REPUBLIC OF KOREA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 76

TABLE 70 REPUBLIC OF KOREA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 77

TABLE 71 REST OF ASIA PACIFIC HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 77

TABLE 72 REST OF ASIA PACIFIC HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 78

TABLE 73 REST OF ASIA PACIFIC HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 78

TABLE 74 MIDDLE EAST & AFRICA HEART RATE MONITORS MARKET, BY REGION, 2020-2027 (USD MILLION) 80

TABLE 75 MIDDLE EAST & AFRICA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 80

TABLE 76 MIDDLE EAST & AFRICA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 81

TABLE 77 MIDDLE EAST & AFRICA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 81

TABLE 78 MIDDLE EAST HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 82

TABLE 79 MIDDLE EAST HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 82

TABLE 80 MIDDLE EAST HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 83

TABLE 81 AFRICA HEART RATE MONITORS MARKET, BY TYPE, 2020-2027 (USD MILLION) 83

TABLE 82 AFRICA HEART RATE MONITORS MARKET, BY APPLICATION, 2020-2027 (USD MILLION) 84

TABLE 83 AFRICA HEART RATE MONITORS MARKET, BY END USER, 2020-2027 (USD MILLION) 84

15 List of Figures

FIGURE 1 GLOBAL HEART RATE MONITORS MARKET, BY TYPE, 2020(%) 13

FIGURE 2 GLOBAL HEART RATE MONITORS MARKET, BY APPLICATION, 2020(%) 13

FIGURE 3 GLOBAL HEART RATE MONITORS MARKET, BY END USER, 2020(%) 14

FIGURE 4 GLOBAL HEART RATE MONITORS MARKET, BY REGION, 2020(%) 15

FIGURE 5 MARKET STRUCTURE OF GLOBAL HEART RATE MONITORS MARKET 17

FIGURE 6 RESEARCH METHODOLOGY 18

FIGURE 7 MAKRET DYNAMICS 22

FIGURE 8 PORTERS FIVE FORCES MODEL: GLOBAL HEART RATE MONITORS MARKET 27

FIGURE 9 VALUE CHAIN: GLOBAL HEART RATE MONITORS MARKET 29

FIGURE 10 GLOBAL HEART RATE MONITORS MARKET, BY TYPE, 2020& 2027 (USD MILLION) 32

FIGURE 11 GLOBAL HEART RATE MONITORS MARKET, BY APPLICATION 2020& 2027 (USD MILLION) 35

FIGURE 12 GLOBAL HEART RATE MONITORS MARKET BY END USER, 2020& 2027 (USD MILLION) 38

FIGURE 13 GLOBAL HEART RATE MONITORS MARKET, BY REGION, 2020& 2027 (USD MILLION) 43

FIGURE 14 AMERICAS HEART RATE MONITORS MARKET, BY REGION, 2020(%) 45

FIGURE 15 EUROPE HEART RATE MONITORS MARKET, BY REGION, 2020(%) 53

FIGURE 16 ASIA PACIFIC HEART RATE MONITORS MARKET, BY COUNTRY/REGION, 2020(%) 67

FIGURE 17 MIDDLE EAST & AFRICA HEART RATE MONITORS MARKET, BY REGION, 2020(%) 79

FIGURE 18 GLOBAL HEART RATE MONITORS MARKET, COMPANY SHARE ANALYSIS, 2020(%) 86

Heart Rate Monitor Market

Heart Rate Monitor Market is expected to register a CAGR of 7.2 % with USD 18980 Million by 2030

Segmentation

By Product Type Wireless Chest Strap Type Wrist Based Type Finger Clips Type
By Application Common Sports Using Patients Using Pregnant Women Using The Old Using Others
By End User Hospital & Clinics Sport Medicine Centers Professionals Individuals

Key Players

  • 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)
  • LG Electronics (South Korea)
  • nu-beca & maxcellent co. (Taiwan)

Drivers

  • Rising trends of using wearable medical devices on fitness and healthcare
  • rising awareness among the prevention several cardiovascular diseases
Speak to Analyst Request a Free Sample

Heart Rate Monitor Market Overview


According to the latest report, the heart rate monitor market size is predicted to grow at a CAGR of 13.50% during the forecast period 2017 to 2023. A heart rate monitor is a device that is used for the monitoring of pulse or heart rate, this gadget can be non-wearable or wearable and it is embedded with heart rate sensors that can track the most accurate heart rate monitor that monitors a person during rest or any physical activities. Heart rate monitoring plays a very important role in managing diseases.


The rising popularity of wearable diagnostic devices and the rising concerns related to health are the major factors that are driving the growth of the global heart rate monitor market. The rising cases of patients suffering from diabetics and cardiac disorders are adding fuel to the growth of the heart rate monitor market. The global heart rate monitor market provides a comprehensive evaluation of the market. The rising trends of using wearable medical devices for fitness and health issues around the globe have increased over the last few years. The rising awareness around the world in order to prevent several cardiovascular diseases is likely to boost the demand for these devices even further. Obesity and diabetics cases have increased the risk of heart diseases. The involvement of high cost of wearable devices of heart rate monitors is the major restraints of the growth of the global heart rate monitor market.


This report contains all the information on the global heart rate monitor market research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global heart rate monitor market trend analysis and heart rate monitor market forecast to 2023 is also included in the report.


Covid 19 Analysis


The outbreak of the global pandemic has affected the global heart rate monitor market by creating hurdles in the manufacturing of devices and also by creating hurdles in the supply chain of heart rate monitor across the globe due to lockdown in different countries. The demand for the heart rate monitor is likely to increase due to covid 19 as the number of patients has increased rapidly and so does the uses of heart rate monitor gadgets.


The Heart Rate Monitor Market is expected to Grow at a CAGR of 13.50% during the Forecast Period 2017-2023. Heart Rate Monitors


Figure- Global Heart Rate Monitors Market, by region 2016(%)


Market Dynamic


Drivers


The rising trends of using wearable medical devices on fitness and healthcare is the major factor that is contributing to the growth of the global heart rate monitor market. The rising awareness among the individual across the globe regarding the prevention and health of several cardiovascular diseases is increasing rapidly around the globe which is ultimately boosting the demand for the heart rate monitor market.


Opportunities


This report comprises the prospective of readers in order to identify major restraints factors for the participants of the industry. The growth opportunities in the industry will help to understand the dynamics of the industry and planning for future strategies accordingly.


Restraints


The involvement of high cost in the wearable heart rate monitor market is the major restraint of the global heart rate monitor market across the globe.


Challenges


The major challenge faced by the manufacturers is the involvement of high cost of making such devices which can be considered as the major challenge for the global heart rate monitor market.


Cumulative Growth Analysis


According to the reports of WHO, in the year 2015, there was over 17.7 Million death accrued due to cardiovascular diseases which represent 31% of the total death rates globally. In the reports of WHO it is also mentioned that in the year 2015, around 82% of the total death were accrued in middle and low-income countries. The global heart rate monitor market is predicted to show significant growth during the forecast period due to the rising prevalence of several heart diseases. Based on the reports of WHO, in the year 2014, about 422 million people were suffering from diabetics around the world.


Value Chain Analysis


According to the latest reports, the heart rate monitors market has been segmented on the basis of types, applications, end-users, and regions. On the basis of types, the heart rate monitors market has been segmented into heart rate monitor wearable and nonwearable devices. The wearable device segments are further divided into chest strap heart rate monitor, wrist strap, and strapless. The wearable segment is predicted to grow with the highest CAGR during the forecast period due to rising awareness about fitness among individuals. The non-wearable segment is further segmented into analog and digital.


On the basis of application, the heart rate monitors market has been segmented into medical, sports, and others. The medical segment is predicted to grow at the fastest pace during the forecast period due to the monitoring regulation of a sports person is adding fuel to the growth of the global heart rate monitor market. On the basis of end-users, the global heart rate monitor market has been segmented into hospitals & clinics, sport medicine centers, professionals, individuals, and others.


Segmentation Overview


The market is segmented on the basis of the types, applications, end-users, and regions. The heart rate monitors market is expected to witness decent growth during the forecast period.


By Application


Based on the application, the market is segmented into medical, sports, and others


By end-users


Based on the propulsion types, the market is segmented into hospitals & clinics, sport medicine centers, professionals, individuals, and others.


Heart Rate Monitors 1
Regional Analysis


According to the reports, on the basis of regions, the heart rate monitors market has been divided into the Americas, Europe, Asia Pacific, and middle east & Africa. The Americas holds the largest share in the global heart rate monitor market due to rising concerns on healthcare expenditure, well-developed technology, healthcare, and concentration of the major key players of the market. The European region is predicted to accounts for the second-largest heart rate monitor share in the market due to the rising prevalence of cardiovascular diseases, healthcare expenditure, and diabetics. It increases the overall demand for the wearable heart rate monitor market.


The rising demand for the heart rate monitor market due to advanced technology in medical devices and the presence of a patient pool in the Asia Pacific region is driving the growth of the global heart rate monitor market. The Middle East & Africa holds the minimum shares in the global heart rate monitor market due to low penetration technology in developing countries and regions mainly in the African region.


Competitive Landscape


The global heart rate monitor market is likely to be fragmented with small-scale and large-scale players by forming a competitive landscape. These players are focused on incorporating several strategies that involve acquisition & mergers, launches of new technology, collaboration, and expansions. These players are also investing willingly in clinical trials and R&Ds.


Major Key players



  • 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)

  • 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)

  • SUUNTO (Finland)

  • MYZONE (U.S.)

  • Wahoo Fitness (U.S.)

  • Moov Inc. (U.S.)

  • Nokia (Finland)

  • Bragi (Germany)

  • Jabra (Germany)

  • Decathlon (France)

  • Scosche Industries. (U.S.)


Report Overview


The following report comprises of –



  • Market overview 

  • Covid 19 Analysis

  • Market Dynamic

  • Drivers

  • Opportunities

  • Restraints 

  • Challenges

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segmentation Overview 

  • By Application 

  • By End-Users

  • Regional Analysis

  • Competitive landscape


Heart Rate Monitors Market: By Product Type



  • Wireless Chest Strap type

  • Wrist-based type

  • Finger Clips type


Heart Rate Monitors Market: By Application



  • Common Sports Using

  • Patients Using

  • Pregnant Women Using

  • The Old Using

  • Others


Heart Rate Monitors Market: By Region



  • North America


    • U.S.

    • Canada

    • Rest of North America


  • Europe


    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe


  • Asia Pacific


    • China 

    • Japan

    • India

    • Southeast Asia

    • Rest of Asia Pacific


  • Latin America


    • Brazil

    • Argentina

    • Rest of Latin America


  • The Middle East and Africa


    • GCC Countries

    • South Africa

    • Rest of the Middle East & Africa



 



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   13.50% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2023
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Indication, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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), 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), SUUNTO (Finland), MYZONE (U.S.), Wahoo Fitness (U.S.), Moov Inc. (U.S.), Nokia (Finland), Bragi (Germany), Jabra (Germany), Decathlon (France), Scosche Industries. (U.S.)
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • The rising trends of using wearable medical devices on fitness and healthcare
  • The rising awareness among the individual across the globe regarding the prevention and health of several cardiovascular diseases is increasing rapidly around the globe


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The projected heart rate monitors market would grow up to a valuation of USD 4118.08 million by 2023.

    Heart Rate Monitors market has a chance to record 13.5% CAGR during the forecast period.

    The type-based segmentation includes wearable and non-wearable devices.

    The discussed applications are sports, medical, and others.

    The end users are sport medicine centers, hospitals & clinics, individuals, professionals, and others.

    What are the applications included in the heart rate monitor market report?