Market Overview:
The global heart rate monitors (HRMs) market is expected to register a CAGR of 7.5% during the forecast period, 2018-2030. The growth in the market can be attributed to various factors such as technological advancements, growing awareness about health and fitness, and increasing demand for wearable devices. Based on type, the global heart rate monitors (HRMs) market is segmented into chest-strap HRMs and wrist-based HRMs. Chest-strap HRMs are more accurate than wrist-based HRMs; however, they are less popular due to their inconvenience of use. Wrist-based HRMs are more popular due to their convenience of use; however, they are less accurate than chest strap HRMs. Based on application, the global heart rate monitors (HRMS) market is segmented into children use, adult use and old use segments. Children’s usage of heart rate monitors is expected to grow at a higher CAGR during the forecast period as compared to adult and old users owing to rising awareness about health & fitness among children across the globe. In addition, increasing adoption of smart watches by children is also contributing significantly towards growth of this segment during the forecast period.
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Product Definition:
A heart rate monitor (HRM) is a wearable device that monitors a person's heart rate. HRMs are often used in sports, such as running and cycling, to help athletes train more effectively. They can also be used to monitor the intensity of a person's workout and ensure they are not working out too hard.
Chest-strap HRMs:
The chest-strap HRM is a wearable device that straps around the upper part of the breastbone. It measures heart rate continuously and without any movement. The data obtained from these devices are used to calculate calories burnt, distance covered, time spent in various activity modes and also helps in monitoring heart health over a period of time.
Wrist-based HRMs:
Wrist-based Heart Rate Monitors (HRMs) are devices that are used to measure the heart rate directly from the patient’s wrist. It is a noninvasive method and hence, it does not require any additional equipment other than a watch or device with a built-in monitor. The accuracy of this system depends on two factors such as user compliance and skin conductance level of the patient.
Application Insights:
The adult use segment held the largest market share in 2017. The segment is driven by a rise in the geriatric population, which leads to increase in cardiovascular diseases (CVDs). According to data published by WHO, it has been estimated that globally, there are about 60 million deaths every year due to CVDs. Furthermore, according to data published by National Center for Biotechnology Information (NCBI) regarding age-related death rate per 1 000 people over 65 years of age; it was observed that from 2012 til 2015 there was an increase of 10% annually. This factor is anticipated to boost the demand for HRMs over the forecast period.
The children's use segment also holds significant market share and is expected to grow at a lucrative pace during the forecast period owing chest-strap HRM devices being used as pedometers and thus promoting physical activity among children which results into increased health awareness eventually resulting into increased usage of these devices among parents who wish their kids remain fit.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of key players, high adoption rate of advanced technologies and increasing demand for products that can be used during workouts as well as other physical activities. The Asia Pacific is expected to witness significant growth over the forecast period owing to rising product demand from developing countries such as China and India. Moreover, an increase in awareness about cardiovascular diseases among people is also expected to drive regional growth over the forecast period.
The European region accounted for a significant share in terms of revenue due to growing geriatric population base and subsequently rising chronic disease prevalence rates such as cardiac disorders, hypertension, respiratory problems & diabetes among others which are major causes of death across Europe (European Union).
Growth Factors:
- Increasing demand for fitness and health awareness: The global population is increasingly becoming aware of the importance of fitness and good health. This has led to a surge in demand for products that can help people track their physical activity and heart rate. HRMs are one such product that is witnessing rising demand due to their ability to help people track their heart rate as well as other physical activity data.
- Advances in technology: The development of new technologies has helped fuel the growth of the HRM market. For instance, advancements in sensor technology have made it possible for manufacturers to develop smaller, more accurate, and affordable HRMs. Additionally, the advent of mobile apps has allowed users to conveniently track their heart rate data using their smartphones or other mobile devices.
- Growing popularity of wearable devices: Another key driver for the growth of the HRM market is the increasing popularity of wearable devices among consumers worldwide. Wearable devices such as smartwatches and fitness bands often include sensors that can track various health metrics including heart rate data, making them ideal companions for those looking to monitor their physical activity levels closely .
Scope Of The Report
Report Attributes
Report Details
Report Title
Heart Rate Monitors (HRMs) Market Research Report
By Type
Chest-strap HRMs, Wrist-based HRMs
By Application
Children Use, Adult Use, The Old Use
By Companies
AliveCor, Vital Connect, Qardio, Visi, Lifewatch, Custo med, Intelesens, Medtronic, Polar
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Heart Rate Monitors (HRMs) Market Report Segments:
The global Heart Rate Monitors (HRMs) market is segmented on the basis of:
Types
Chest-strap HRMs, Wrist-based HRMs
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Children Use, Adult Use, The Old Use
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AliveCor
- Vital Connect
- Qardio
- Visi
- Lifewatch
- Custo med
- Intelesens
- Medtronic
- Polar
 Market Overview.svg)
Highlights of The Heart Rate Monitors (HRMs) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Chest-strap HRMs
- Wrist-based HRMs
- By Application:
- Children Use
- Adult Use
- The Old Use
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heart Rate Monitors (HRMs) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heart Rate Monitors (HRMs) are devices that measure the heart rate of a person. They are often worn on the wrist or neck, and can be used to track heart rates over time. HRMs can help people to monitor their health and fitness, and may also be used in medical settings to diagnose conditions such as hypertension or cardiac arrhythmia.
Some of the major players in the heart rate monitors (hrms) market are AliveCor, Vital Connect, Qardio, Visi, Lifewatch, Custo med, Intelesens, Medtronic, Polar.
The heart rate monitors (hrms) market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Heart Rate Monitors (HRMs) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Heart Rate Monitors (HRMs) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Heart Rate Monitors (HRMs) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Heart Rate Monitors (HRMs) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Heart Rate Monitors (HRMs) Market Size & Forecast, 2020-2028
4.5.1 Heart Rate Monitors (HRMs) Market Size and Y-o-Y Growth
4.5.2 Heart Rate Monitors (HRMs) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Chest-strap HRMs
5.2.2 Wrist-based HRMs
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Children Use
6.2.2 Adult Use
6.2.3 The Old Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Heart Rate Monitors (HRMs) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Heart Rate Monitors (HRMs) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Chest-strap HRMs
9.6.2 Wrist-based HRMs
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Children Use
9.10.2 Adult Use
9.10.3 The Old Use
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Chest-strap HRMs
10.6.2 Wrist-based HRMs
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Children Use
10.10.2 Adult Use
10.10.3 The Old Use
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Chest-strap HRMs
11.6.2 Wrist-based HRMs
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Children Use
11.10.2 Adult Use
11.10.3 The Old Use
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Chest-strap HRMs
12.6.2 Wrist-based HRMs
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Children Use
12.10.2 Adult Use
12.10.3 The Old Use
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Chest-strap HRMs
13.6.2 Wrist-based HRMs
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Children Use
13.10.2 Adult Use
13.10.3 The Old Use
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Heart Rate Monitors (HRMs) Market: Competitive Dashboard
14.2 Global Heart Rate Monitors (HRMs) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AliveCor
14.3.2 Vital Connect
14.3.3 Qardio
14.3.4 Visi
14.3.5 Lifewatch
14.3.6 Custo med
14.3.7 Intelesens
14.3.8 Medtronic
14.3.9 Polar
