Heart Rate Monitor Watch Market Forecast and CAGR
According to the latest study by Fact.MR, the heart rate monitor watch market is projected to show substantial growth over the forecast period (2021-2031). Steady growth in demand and sales seems to provide a positive outlook to the industry. Business is expected to garner incremental $ opportunity of more than US$ 98 Mn by 2031. Moreover, constant demand from the health-conscious population coupled with rise in cardiovascular diseases is projected to bolster the demand in the long run.
What is Driving Demand for Heart Rate Monitor Watch?
Increase in the number of sports activities along with rise in the number of health-conscious people have been observed as key drivers for demand growth of the product.
Additionally, there has been a significant rise in awareness regarding cardiovascular diseases, as a result need to monitor heart rate on a regular basis is being identified as a key factor in preventing any unwanted sickness. For instance, according to a study by WHO, about 17.7 million lives are lost every year due to cardiovascular diseases.
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Moreover, tech-savvy millennial are opting for smartwatches equipped with heart rate monitoring system as they are comfortable and presents a trendy outlook.
Above mentioned factors coupled with demand for handy diagnostic equipment has been projected to propel the demand for heart rate monitor watch.
Growing Cardiovascular Diseases and Fitness Consciousness to bolster the sales of the Heart Rate Monitor Watch
Increase in cardiovascular disease around the globe can be attributed to poor diet, physical inactivity and excessive alcohol consumption.
Additionally, the rise in the number of people with ailments such as high blood pressure, diabetes and high cholesterol have also been a major contributor to the rise in heart-related diseases.
Moreover, to prevent the increasing number of cases, the scientific community has been continuously engaged in the development of various diagnostic tools for faster identification of the problem. Penetration of smart gadgets such as heart rate monitor watch can help in the early identification of problem at an early stage.
Also, the growing trend of gym coupled with an increase in physical sports activities such as swimming, running and trekking would bolster the sales over the projected forecast period.
Asia Pacific Heart Rate Monitor Watch Market Outlook
Asia Pacific is expected to grow at a fast pace attributed to sizeable increase in fitness conscious population coupled with rising disposable income in the region. Additionally, countries like China and South Korea are investing in technology to produce more efficient smart gadgets.
Moreover, the presence of a vast patient pool in these countries has also contributed to demand growth in the region.
Furthermore, the presence of some prominent players in the smartwatch segment such as Xiaomi, Samsung and Sony have made it possible for the users to get access to cost-effective and hi-tech watches. The inclusion of several features such as fitness monitoring, making calls and stock & weather updates have made it a lucrative product for end-users in the region.
North America Heart Rate Monitor Watch Market Outlook
North America is projected to be one of the most lucrative regions for watch market. This can be attributed to the higher expenditure along with the wide penetration of technology in the healthcare sector.
Moreover, the presence of some prominent players in the region such as Apple, Nike and Fitbit are also contributing significantly to the adoption of smartwatches. For instance, has introduced an EKG monitor and fall detection app in its Apple watch series 4.
Above stated trends shows that North America will show growth in higher single-digit over the projected forecast period.
Who are the Key Manufacturers and Suppliers of Heart Rate Monitor Watch?
Some of the leading manufacturers and suppliers of heart rate monitor watches are
The aforementioned players are mainly relying on a mix of organic and inorganic growth strategies such as product launches, collaborations and acquisitions to expand their market share.
- For instance, Puma has recently entered into a 10-year agreement with Fossil. The collaboration will help in launching of new features such as a step counter and heart rate monitor.
- Amazfit recently introduced Amazfit Stratos which comes with a heart rate monitor along with a built-in algorithm to measure the cardiorespiratory performance of the person. This smartwatch is based on Firstbeat technology.
By Operating system
- Personal assistance
By Display Type
- TFT LCD
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
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