DALLAS, Jan. 17, 2023 /PRNewswire/ -- Data Bridge Market Research has recently published a Report, titled, "Wearable Heart Monitoring Devices Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. Wearable Heart Monitoring Devices report consists of well-defined and well categorized market research data that brings marketplace clearly into the focus. This report also explains market definitions, classifications, applications, and engagements in the Wearable Heart Monitoring Devices industry. This Wearable Heart Monitoring Devices market report gives out such business purposes and endows with the best market research and analysis carried out with the advanced tools and techniques. Businesses can accomplish key statistics on the market status of regional and global manufacturers along with valuable assistance which drives the business towards the growth. Being a quality market report, it comprises of transparent market research studies and estimations that supports business growth.
Wearable Heart Monitoring Devices report helps this market in deciding upon various strategies such as production, marketing, sales or promotion for a particular product in the market or the new product to be launched. The Wearable Heart Monitoring Devices report provides the company profile, product specifications, capacity, production value, and market shares for each company for the forecast period. In addition, the scope of Wearable Heart Monitoring Devices market report can be broadened from market scenarios to comparative pricing between major players, cost and profit of the specified market regions. Wearable Heart Monitoring Devices report is a trustworthy source of market information for the business which assists with the better decision making and outline better business strategies
Data Bridge Market Research analyses that the wearable heart monitoring devices market which is USD 1.88 billion in 2022, is expected to reach USD 4.28 billion by 2030, at a CAGR of 10.8% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
A wearable heart rate monitor is an instance of a personal monitoring device. It allows for real-time heart rate monitoring. Wearable heart rate monitors come in wrist bands and chest straps. These are small and lightweight devices designed to work in harsh environments. Advanced features of heart rate monitors include activity, heart rate variation, breathing rate, and core temperature. The wrist band is a more popular heart rate monitoring device because it is comfortable and simple to use.
The market for wearable heart monitoring devices is expected to grow rapidly over the forecast period. According to the Centers for Disease Control and Prevention, 2.7 million to 6.1 million people in the United States had AFib in 2017. It further revealed that approximately 750,000 people in the country require hospitalization annually due to AFib. Hence, an increase in the frequency of atrial fibrillation and rising geriatric population enhance the demand for wearable heart monitoring devices in the market.
Opportunities for Players:
- Growing adoption rate of artificial intelligence and 5G
Furthermore, the increasing adoption of artificial intelligence and 5G will provide favourable opportunities for the wearable heart monitoring devices market growth. 5G can use artificial intelligence (AI) to determine a patient's potential diagnosis and treatments. Furthermore, AI can help healthcare systems predict which patients are likely to have postoperative complications, allowing for early intervention. Furthermore, the growing emphasis of manufacturers on the adoption of advanced technologies, as well as the increase in the number of emerging markets, will provide beneficial opportunities for the growth of the wearable heart monitoring devices market during the forecast period.
Recent Developments
- In 2021, RhythMedix announced the launch of RhythmStar, a wearable cardiac monitoring device for arrhythmia detection. The new RhythmStar is a discreetly worn device that enables long-term remote monitoring without using a phone or other communication equipment. The technology enables the company's team of certified technicians in the United States to quickly analyse ECGs and diagnose cardiac irregularities, alerting clinicians when a potentially dangerous arrhythmia is detected.
Some of the major players operating in the Wearable Heart Monitoring Devices market are:
- Medtronic (Ireland)
- Johnson & Johnson Private Limited (U.S.)
- Zimmer Biomet (U.S.)
- 3M (U.S.)
- Smith+Nephew (U.K.)
- Boston Scientific Corporation (U.S.)
- Integra LifeSciences (U.S.)
- Abbott (U.S.)
- Stryker (U.S.)
- CONMED Corporation (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Cardinal Health (U.S.)
- NuVasive, Inc. (U.S.)
- BIOTRONIK SE & Co KG (Germany)
- LivaNova PLC (U.K.)
- William Demant Holding A/S (Denmark)
- Nurotron Biotechnology Co. Ltd. (China)
- Sonova Holding AG (Switzerland)
- C.R. Bard Inc. (U.S.)
- Microport Scientific Corporation (China)
- Globus Medical, Inc. (U.S.)
- MED-EL (Austria)
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The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Wearable Heart Monitoring Devices market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Wearable Heart Monitoring Devices Market
Market Dynamics: Wearable Heart Monitoring Devices Market
- Rise in the number of geriatric and obese population
Because life expectancy has increased over time, more people are in their 60s and older. According to the United Nations Database on World Population Ageing 2020, there will be 1.5 billion elderly people worldwide by 2050, up from 727 million in 2020. Elderly people are more likely to sustain fall-related injuries, which can lead to a range of functional restrictions and a dependence on mobility aids. As a result, it is anticipated that the global geriatric population would grow dramatically, driving up the demand for patient handling and mobility equipment. The prevalence of obesity in the population is rising quickly. In 2020, 39 million kids under the age of five will be overweight or obese.
The Primary Objectives of This Global Market Research Report Are as Follows:
- To understand this market competition by analysing the top vendors, with their market profile, revenue, profits, import-export details, and market share
- To analyse the product type, applications and regional presence of this Industry
- To state the pricing structure, import-export details, supply chain analysis, SWOT analysis to facilitate the key decision-making process
- To provide the complete structure and fundamental overview of this Industry
- To offer insights into vital this market aspect like growth trajectory, CAGR value, market share, and revenue analysis
- To evaluate the Wearable Heart Monitoring Devices growth opportunities, threats, market drivers, and risks involved
- To boost the future growth, investment analysis and upcoming growth opportunities with the analysis of emerging market segments and sub-segments
- To present the historic, present, and forecast market analysis with product developments, joint ventures, and strategic alliances
- To study the recent developments, emerging sectors, new product launch events, and mergers & acquisitions in this market
- To understand the data sources, implied research methodology, and vital conclusions
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Key Industry Segmentation: Wearable Heart Monitoring Devices Market
By Product
- Electric Pulse Bases Product
- Optical Technology Based Product
By Device Type
- Diagnostic and Monitoring Devices
- Therapeutic Devices
By Application
- Sports and Fitness
- Remote Patient Monitoring
- Home Healthcare
By Type
- Activity Monitors
- Smartwatches
- Smart Clothing
- Patches
By Distribution Channel
- Pharmacies
- Online Channels
- Hypermarkets
By End Use
- Retail Pharmacies
- Hospitals
- Academic Institutes
Regional Analysis/Insights: Wearable Heart Monitoring Devices Market
The countries covered in the wearable heart monitoring devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the wearable heart monitoring devices market because of the region's well-established healthcare sector and highly developed information technology. Furthermore, the increasing prevalence of AFib diseases will boost the market's growth rate in this region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to rising incidences of heart diseases and increasing number of population in this region.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Wearable Heart Monitoring Devices Market: Regulations
- Market Overview
- Global Wearable Heart Monitoring Devices Market, By Product
- Global Wearable Heart Monitoring Devices Market, By Device Type
- Global Wearable Heart Monitoring Devices Market, By Application
- Global Wearable Heart Monitoring Devices Market, By Type
- Global Wearable Heart Monitoring Devices Market, By Distribution Channel
- Global Wearable Heart Monitoring Devices Market, By End User
- Global Wearable Heart Monitoring Devices Market, By Region
- Global Wearable Heart Monitoring Devices Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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