Acknowledging the growth of this fiercely ascending market, Market Research Future (MRFR) in its recently published study report asserts that the Global Heart Rate Monitor Market will garner colossal accruals by 2023, registering a CAGR over 13.50% throughout the forecast period (2017-2023). Heart rate monitors are used for the continuous monitoring of heartbeats and thus, the heart health. The heart rate monitor market has been accruing pervasively mainly due to the increasing trend for using wearable fitness devices over the past couple of years. Moreover, the skyrocketing demand for these devices led by the increasing emphasis of people on health and fitness escalates the market on the global platform.
Currently, the world is witnessing increasing numbers of issues related to heart diseases and cardiac disorder cases. Unfortunately, the figure is growing up every year. Although there are a number of procedures and innovative therapies available in the market, incidents of occurring these diseases are rising continuously and are becoming paramount concerns. Such factors are increasing the growth the heart rate monitor market, globally.
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Heart Rate Monitor Market Major Players:
Key players leading the global heart rate monitor market include Garmin Ltd.(U.S.), Apple (U.S.), Visiomed Group (France), Nike (U.S.), Samsung Electronics Co. Ltd. (South Korea), Fitbit Inc. (U.S.), Beurer GmbH (Germany), Mio Global (South Korea), Omron Healthcare (Japan), Inc., Nu-Beca & Maxcellent co. (Taiwan), LG Electronics (South Korea), Polar Electro (Finland), Motorola Solutions, Inc. (U.S.), TomTom International BV (The Netherlands), Sony (Japan), Wahoo Fitness (U.S.), MYZONE (U.S.), Moov Inc. (U.S.), Bragi (Germany), Nokia (Finland), Jabra (Germany), Scosche Industries. (U.S.) Decathlon (France), and SUUNTO (Finland) among others.
Heart Rate Monitor Market Segmentation:
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Type, the heart rate monitor market is segmented into Wearable Devices (Chest Strap, Wrist Strap, Strapless) and Non-Wearable Devices (Analogue and Digital), others.
By Indication, the heart rate monitor market is segmented into Sports and Medical among others.
By End-users, the heart rate monitor market is segmented into Hospital & Clinics, Sport Medicine Centers, Professionals, and Individuals among others.
By Regions, the heart rate monitor market is segmented into Asia Pacific, North America, Europe, and the Rest-of-the-World.
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Heart Rate Monitor Market Geographical Analysis
Globally, the North American region accounts for the leading market for heart rate monitors. The increasing prevalence of cardiovascular diseases, hypertension, and obesity issues that are leading to heart diseases & disorders alongside the rising geriatric population is impacting market growth positively.
The heart rate monitor market in the European region accounts for the second-largest market due to the increasing healthcare expenditure, availability of advanced treatment facilities, and government initiatives.
The Asia Pacific region, heading with the increasing number of aging populaces and the rising prevalence of cardiac disorders, is rapidly emerging as a profitable market for heart rate monitoring devices.
Occurrences of cardiovascular diseases in the region are growing at an alarming rate. Simultaneously, other dominant factors such as the faster adoption of healthcare technology, government initiatives to improve the quality of healthcare, favorable insurance, and reimbursement policies are fostering the growth of the APAC heart rate monitors market.
Additionally, eminent key players are increasingly setting up their manufacturing plants in some of the APAC countries such as China, Singapore, Japan, Australia, and Korea which, in turn, is propelling the market growth of heart rate monitor in this region.
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