A wearable heart rate monitor is a personal monitoring device. It
enables real time measurement of heart rate. Wearable heart rate
monitors are available in two forms: wrist bands and chest straps.
These are especially designed to work in extreme conditions, and are
compact and lightweight. Advanced models of heart rate monitors also
provide activity, heart rate variation, breathing rate, and core
temperature. The wrist band is a more popular heart rate monitoring
device, as it provides comfort and is easy to use. However, it
provides limited information as compared to chest strap. The accuracy
of chest strap is higher as compared to the wrist watch. Wearable
heart rate monitors are used by athletes and trainers to study and
analyze their performance during sports activities. It is also used
in hospitals for continuous monitoring of patients. Integration of
technologies such as Bluetooth and Wi-Fi enable these devices to
instantly transfer health information to computers or smartphones.
This aids medical experts to analyze data quickly.
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The global wearable heart monitoring devices market is expected to
grow rapidly due to factors such as ease of use, low cost, rise in
obesity among the population, and increase in awareness about
fitness. Additionally, cardiac conditions such as atrial fibrillation
(AFib) need continuous and extensive monitoring. According to the
Centers for Disease Control and Prevention, 2.7 million to 6.1
million people in the U.S. suffered from AFib in 2017. Furthermore,
it stated that over 750,000 people require hospitalization due to
AFib in the country each year. The estimated medical cost for people
suffering from AFib is about US$ 8,705 per person. Hence, rise in
prevalence of atrial fibrillation along with increase in geriatric
population and high per capita health care expenditure in the
developed countries are projected to boost market growth during the
forecast period. However, inconsistent and insufficient data is
likely to hamper the growth of the global wearable heart monitoring
devices market.
The global wearable heart monitoring devices market can be segmented
based on product, type, application, end-user, and region. In terms
of product, the global market can be classified into optical
technology based, electric pulse based, and others. The optical
technology based segment can be categorized into earphones, smart
watches, and others. The electric pulse based segment can be divided
into chest patches, chest straps, and others. Based on type, the
global wearable heart monitoring devices market can be classified
into Bluetooth enabled, chargeable, non-chargeable, and others. In
terms of application, the global market can be categorized into
health care, consumer market, and others. Based on end-user, the
global wearable heart monitoring devices market can be divided into
hospitals, retail pharmacies, academic institutes, and others.
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Geographically, the global wearable heart monitoring devices market
can be segmented into North America, Europe, Latin America, Asia
Pacific, and Middle East & Africa. Each region can be divided
into specific countries such as the U.S., Canada, Germany, the U.K.,
Brazil, China, India, Japan, and GCC Countries. North America
dominated the global wearable heart monitoring devices market because
of high prevalence of AFib diseases and increase in health care
expenditure. Moreover, presence of developed economies such as the
U.S. and Canada and global players such as Medtronic and Briggs
Healthcare fuel market growth. Asia Pacific is considered to be the
most attractive market for wearable heart rate monitoring devices
during the forecast period due to increase in health care expenditure
and favorable government policies.
Key players operating in global wearable heart monitoring devices
market are Kinetec Products UK Ltd., Medtronic, Beurer GmbH, Medisana
AG, Briggs Healthcare, Polar Electro, SUUNTO, Koninklijke Philips
N.V., and Garmin Ltd., among others.
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