Heart Rate Monitor Market Latest Study (Apple, Fitbit, Garmin, Mio Global, Suunto) with Competitive Landscape

Global Heart Rate Monitor Market is expected to grow at a CAGR of 8.2% during forecasted period of 2017-2023.

Heart rate monitors devices are used to measure the heart rate or pulse of an individual. The global heart rate monitoring devices market is primarily driven by factors such as rising awareness among population towards health care and fitness. Moreover, factors such as increasing number of gyms, increasing heart related diseases and expanding number of people who are suffering from diabetes and cardiac diseases are some of the key drivers for the rapid growth of global heart rate monitoring devices market.

Furthermore, the increasing use of smart phones worldwide is escalating the growth of heart rate monitoring devices. The compatibility of smartphones with heart rate monitoring devices is expected to impel the demand for heart rate monitoring devices in near future. Adoption of these monitoring devices in performing activities such as climbing, sports activities, swimming, running, hiking and other is also expected to escalate the demand for heart rate monitoring devices. According to CDC, as of 2012, in the US alone, 117 million people had at least one chronic disease. This number is expected to rise to 160 million by the end of 2020. There has been an increase in the incidence of cardiac diseases globally. A sudden cardiac arrest is the leading cause of death among individuals aged above 40, especially those over the age of 60.

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Competitive Analysis

The major key player for the global heart rate monitor market are Visiomed Group (France), LG Electronics (South Koera), nu-beca & maxcellent co (Taiwan), HealthSmart International (US), Medisana AG (Germany), Apple (US), Polar Electro (Finland), Beurer GmbH (Germany), Fitbit, Inc. (US), Garmin (US), Polar Electro (Finland), Fitbit (US), Omron Healthcare (Japan), LifeBEAM Technologies (US), Mio Global (Japan), Suunto (Finland)

Industry Updates:

October, 2017 FitBit launched a device called Surge that comes with calling and texting functionalities, integrating smartwatch features in fitness devices.

March, 2017 Fitbit globally launched its new product Alta HR, the world’s slimmest fitness wristband with continuous heart rate tracking

March, 2017 Garmin launched a new product the Forerunner 935. It is a premium GPS running and triathlon watch with performance monitoring and wrist-based heart rate.

November, 2016 LG Electronics has introduced Fr74 Heart rate monitor earphones used in real-time heart monitoring.

July, 2016 Fitbit, Inc. Acquires Assets from Pebble. With this acquisition, Fitbit adds deep industry expertise in platform development that complements the company’s core discipline of innovative health and fitness features.

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May, 2016 Garmin launched vívosmart HR+, a smart activity tracker with wrist-based heart rate plus GPS

November, 2014 Jawbone announced UP3 a multi sensor activity tracker that provides in depth information about your health and fitness

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