Wearable Heart Monitoring Devices Market Growth Report 2024-2033: Analysis and Outlook

The wearable heart monitoring devices market size has grown rapidly in recent years. It will grow from $2.19 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to increased focus on preventive healthcare, rise in chronic cardiovascular conditions, miniaturization and wearable design, health and fitness trends, clinical adoption and validation..

The wearable heart monitoring devices market size is expected to see rapid growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to increasing aging population, rising health consciousness, integration with smartphones and iot, expansion of remote patient monitoring, emphasis on personalized healthcare.. Major trends in the forecast period include miniaturization and wearable design, advancements in sensor technology, integration of ai and machine learning, remote patient monitoring, focus on preventive healthcare..

Market Overview -
A wearable heart monitor refers to a personal monitoring device that records and tracks heart rate using an electrical detection band that wraps around the chest. It is primarily used to collect heart rate data while engaging in various types of physical activities and other exercises.

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Rising Incidence Of Cardiovascular Diseases Propels Growth In Wearable Heart Monitoring Devices Market
The increasing incidence of cardiovascular diseases (CVD) is expected to propel the growth of the wearable heart monitoring devices market going forward. Cardiovascular diseases that include abnormalities in the heart such as atrial fibrillation, ventricular fibrillation, and atrioventricular block require long-term monitoring. Patients suffering from cardiovascular diseases would need wearable devices that enable continuous heart monitoring which is very crucial to track the heart rate. For instance, in October 2022, according to the Center for Disease Control and Prevention (CDCP), a US-based government agency, in the United States, one person dies from cardiovascular disease every 34 seconds. Further, in 2021, approximately 695,000 people in the United States died from heart disease, with adults under the age of 65 accounting for two-tenths of CAD deaths. Therefore, the increasing incidence of cardiovascular diseases (CVD) drives wearable heart monitoring devices.

Competitive Landscape -
Major companies operating in the wearable heart monitoring devices market report are Medtronic plc, Royal Philips, Boston Scientific Corporation, Johnson & Johnson Private Limited, Kinetec Products UK Ltd., Beurer GmbH, Chinese Ogawa Smart Healthcare Technology Group Co.Ltd., Polar Electro Oy, Garmin Ltd., Baxter International Inc., Briggs Healthcare Corp., Zimmer Biomet Holdings Inc., Minnesota Mining and Manufacturing Company, Smith & Nephew Plc, Integra LifeSciences Holdings Corporation, Abbott India Ltd., Stryker Corporation, GE HealthCare Technologies Inc., Biotronik SE & Co KG, Asahi Kasei Corporation, MicroPort Scientific Corporation, Nihon Kohden Corporation, SCHILLER AG, BPL Medical Technologies Pvt. Ltd., ACS Diagnostics Inc., AliveCor Inc., Bardy Diagnostics Inc., Becton Dickinson and Company, BioTelemetry Inc., Cardiac Insight Inc. .

Elevating Wearable Heart Monitoring Devices Market With Advanced Technology
Technological advancements are a key trend gaining popularity in the wearable heart monitoring devices market. Major companies operating in wearable heart monitoring devices are introducing innovative products with advanced technologies to strengthen their position in the market. For instance, in February 2021, RhythMedix, a US-based producer of medical equipment, introduced next-generation RhythmStar, a wearable heart monitoring device for arrhythmia detection with built-in-cellular connectivity technology. This new RhythmStar is a discreetly worn device that enables long-term remote monitoring without using a phone or other communication equipment. The technology allows the company's team of certified technicians in the United States to analyze and diagnose cardiac irregularities quickly by alerting clinicians when a potentially dangerous arrhythmia is detected.

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Key Segments -

The wearable heart monitoring devices market covered in this report is segmented -
1) By Device Type: Diagnostic And Monitoring Devices, Therapeutic Devices
2) By Product Type: Electric Pulse-Based Product, Optical Technology-Based Product
3) By Distribution Channel: Pharmacies, Online Channels, Hypermarkets
4) By Application: Sports And Fitness, Remote Patient Monitoring, Home Healthcare

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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