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Rising Incidence Of Cardiovascular Diseases Propels Growth In Wearable Heart Monitoring Devices Market: Key Factor Driving The Growth In The Wearable Heart Monitoring Devices Market
Wearable Heart Monitoring Devices
What Is the Current Wearable Heart Monitoring Devices Market Size and Its Estimated Growth Rate?
The market for wearable heart monitoring devices has seen swift expansion in the past few years. The market size is anticipated to surge from $2.4 billion in 2024 to $2.69 billion in 2025, with a compound annual growth rate (CAGR) of 11.9%. The past growth can be linked to heightened emphasis on preventive healthcare, a spike in chronic cardiovascular disorders, reduction in device size and wearable fit, trends in health and fitness, and clinical acceptance and verification.
The market for wearable heart monitoring devices is anticipated to witness substantial growth in the upcoming years, with its value predicted to reach $4.59 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.3%. The anticipated growth during the forecast period can be linked to factors such as the aging population, increased health awareness, integration with smartphones and IoT, the broadening of remote patient monitoring, and a focus on personalized healthcare. Key trends to watch during the forecast period include the miniaturization and design improvements of wearables, advancements in sensor technology, the integration of AI and machine learning, a heightened emphasis on remote patient monitoring, and a pivot towards preventive healthcare.
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What Are the High-Growth Segments in the Wearable Heart Monitoring Devices Market?
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, Hyper markets
4) By Application: Sports And Fitness, Remote Patient Monitoring, Home Healthcare
Subsegments:
1) By Diagnostic And Monitoring Devices: ECG Monitors, Heart Rate Monitors, Pulse Oximeters, Wearable Holter Monitors, Smartwatches With Heart Monitoring Features
2) By Therapeutic Devices: Wearable Defibrillators, Cardiac Pacemakers, Wearable Therapeutic Monitors
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What Key Drivers Are Expected to Influence Future Wearable Heart Monitoring Devices Market Growth?
The growth of the wearable heart monitoring devices market is anticipated to be fuelled by the rising prevalence of cardiovascular diseases (CVD). Heart conditions such as atrial fibrillation, ventricular fibrillation, and atrioventricular block necessitate long-term supervision and hence individuals with such ailments would require wearable tools that offer ongoing heart tracking which is vital in monitoring heart rhythm. For instance, the Center for Disease Control and Prevention (CDCP), a US government agency, reported in October 2022 that every 34 seconds, a person in the United States dies from cardiovascular disease. Consequently, the escalating instances of cardiovascular diseases (CVD) are stimulating the demand for wearable heart monitoring devices.
Which Companies Hold the Largest Share Across Different Wearable Heart Monitoring Devices Market Segments?
Major companies operating in the wearable heart monitoring devices market include Medtronic plc, Royal Philips, Boston Scientific Corporation, Johnson & Johnson Private Limited, Beurer GmbH, Chinese Ogawa Smart Healthcare Technology Group Co.Ltd., Polar Electro Oy, Garmin Ltd., Abbott India Ltd., GE HealthCare Technologies Inc., Biotronik SE & Co KG, Asahi Kasei Corporation, MicroPort Scientific Corporation, Nihon Kohden Corporation, SCHILLER AG, BPL Medical Technologies Pvt. Ltd., AliveCor Inc., Bardy Diagnostics Inc., BioTelemetry Inc., Cardiac Insight Inc.
What Trends Are Driving Growth in The Wearable Heart Monitoring Devices Market?
Progressive technological developments are emerging as a significant trend in the wearable heart monitoring devices market. Top companies involved in the production of such devices are rolling out state-of-the-art products to consolidate their standing in the market. A notable example is from January 2023, when engineers from the US-based UC San Diego unveiled a wearable ultrasound gadget for cardiac imaging, engineered to evaluate heart's structure and function amid physical exertion. This portable apparatus, which can be donned for up to 24 hours, taps into AI algorithms to gauge blood circulation, an essential factor in spotting cardiovascular complications. The technology seeks to democratize ultrasound imaging, bypassing the constraints of conventional echocardiograms that necessitate hefty equipment and skilled technicians. This breakthrough offers perpetual, non-invasive monitoring of cardiac health, including during physical activities, fostering early identification and control of heart conditions.
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What Are the Emerging Geographies for The Wearable Heart Monitoring Devices Market Growth?
North America was the largest region in the wearable heart monitoring devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the wearable heart rate monitoring devices market report during the forecast period. The regions covered in the wearable heart monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wearable Heart Monitoring Devices Market?
2. What is the CAGR expected in the Wearable Heart Monitoring Devices Market?
3. What Are the Key Innovations Transforming the Wearable Heart Monitoring Devices Industry?
4. Which Region Is Leading the Wearable Heart Monitoring Devices Market?
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