Published Date : 04 Feb 20 | Views: 53 | Industry : Consumer Goods
Ease of Usage and Convenience to Foster the Growth of the Wrist Heart Rate Monitors Segment.
Based on product the market is segmented into Wrist Heart Rate Monitors and Chest Heart Rate Monitors. Athletes, fitness trainers, and heart patients increasingly prefer Wrist Heart Rate Monitors due to its ease of usage and convenience, which is likely to influence the growth of the Wrist Heart Rate Monitors segment. The Wrist Heart Rate Monitors are lightweight and provide accurate readings of breathing, heart rate, and temperature while assisting in health monitoring activities. The application segment of the market is divided into Peak, Cardio, and Fat Burn.
North America is Expected to Offer Lucrative Growth Opportunities
The presence of major medical device manufacturers in North America has resulted in the region becoming the largest exporter of the Heart Rate Monitoring devices. Rising cases of heart conditions particularly Atrial Fibrillation in the U.S. along with increasing geriatric population is likely to foster the growth of the market. The demand for Heart Rate Monitoring devices in China is expected to grow due to increasing awareness regarding health. The region is expected to grab a significant share of the market after the U.S. followed by the Asia-Pacific region due to increasing healthcare spending and favorable government policies promoting healthcare.
Market Players Keen to Integrate Technology for Developing Health Monitoring Devices
Some of the major key players of the market are Xiaomi, Fitbit, Samsung, Apple, Garmin, Polar, Suunto, EKHO, Timex, Scosche, Mio Global, Waho, Jarv, and Omron. Major players of the market are developing devices by integrating advanced technologies to offer innovative solutions.
Development of Novel Medical Devices for Monitoring Heart to Boost Adoption of Heart Rate Monitors
Rising awareness regarding cardiovascular conditions, obesity, diabetes, and cholesterol has resulted in the development of novel medical devices. Increasing consciousness regarding fitness and destructive habits such as poor, diet, alcohol addiction, and a sedentary lifestyle is contributing to the growth of the market. Sports athletes and fitness trainers also require heart rate monitoring devices to help boost stamina and performance, which is expected to fuel the growth of the market.