Global Heart Rate Monitoring Devices Market Trends, Forecast Report 2025-2037
Heart Rate Monitoring Devices Market size is projected to grow from USD 36 billion to USD 109.06 billion, demonstrating a CAGR of over 8.9% during the forecast timeline, between 2025 and 2037. In the year 2025, the industry size of heart rate monitoring devices market is estimated at USD 38.56 billion.
The heart rate monitoring devices are devised for sports activities that connect to a chest strap to allow for seamless heart rate monitoring by sending data to a wrist monitor. The growth of the heart rate monitoring devices market is primarily attributed to increasing concern about the rising cases of cardiovascular diseases along with an increasing number of people demanding heart rate monitors worldwide. As per recent statistics disclosed by the World Health Organization (WHO) in 2021, cardiovascular diseases were responsible for approximately 17.9 million deaths across the world in 2019, an estimated 32% of all global deaths.
Heart Rate Monitoring Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Worldwide rising concern of non-communicable diseases: Heart rate monitoring devices are anticipated to help diagnose health conditions and prevent deaths caused by non-communicable diseases. According to the data released by the World Health Organization (WHO), it is estimated that 41 million people are killed by non-communicable diseases each year, which is equivalent to 74% of all deaths globally. Cardiovascular diseases account for most NCD deaths accounting for up to 17.9 million people annually, and respiratory diseases account for 4.1 million people.
- Increasing per capita income: It fuels the heart rate monitoring devices market as consumers increasingly prioritize health and wellness. As per the International Monetary Fund, North America is projected to witness an annual GDP growth of 2.1% in 2025. Furthermore, the Bureau of Economic Analysis stated that disposable personal income (DPI) increased by USD 61.1 billion, 0.3%, in November 2024 in the U.S. Higher disposable income enables individuals to invest in advanced health-tracking technologies, such as fitness wearables and smart watches which are now considered essential tools for proactive health management.
Challenges
- Variability in accuracy: Inconsistent results across devices, particularly in non-medical-grade wearables challenge the adoption of these devices significantly. Factors such as improper device placement, and motion artifacts can affect readings, leading to unreliable data. This undermines consumer trust and limits adoption, especially for critical health monitoring applications.
- Limited awareness in underdeveloped regions: Lack of knowledge regarding these devices and their benefits and applications hampers the global market growth. Limited access to healthcare education and technology, coupled with lower prioritization of preventive health measures, restricts adoption. Addressing these gaps requires targeted awareness campaigns and affordability initiatives.
Heart Rate Monitoring Devices Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.9% |
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Base Year Market Size (2024) |
USD 36 billion |
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Forecast Year Market Size (2037) |
USD 109.06 billion |
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Regional Scope |
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Heart Rate Monitoring Devices Segmentation
End-user (Hospitals & Clinics, Sports Care Centers, Professionals, Individuals)
Based on end user, the hospitals & clinics segment is anticipated to garner the highest heart rate monitoring devices market revenue share by the end of 2037. The rising incidence of illnesses resulting in a greater need for healthcare is driving up the global demand for hospitals and clinics. According to the American Hospital Association 2024, there are a total number of 6,120 hospitals in the United States. The need for accurate and continuous patient monitoring in critical care and diagnostic settings is boosting the segment growth further.
Type (Wearable, Non-Wearable)
The wearable segment in the heart rate monitoring devices market is projected to register considerable growth in the upcoming years. Growing health consciousness among consumers, coupled with the rising popularity of wearable devices has driven their growth. Real-time data tracking and connectivity with mobile apps are trending features in the market. In July 2023, Coros launched the Coros Heart Rate Monitor, which is a strap to be worn on the upper arm, designed to combine characteristics of chest strap, and simple wrist-worn monitors.
Our in-depth analysis of the global heart rate monitoring devices market includes the following segments:
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By Type |
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By Indication |
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By End-User |
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Customize this ReportHeart Rate Monitoring Devices Industry - Regional Synopsis
North America Market Statistics
North America heart rate monitoring devices market is predicted to hold the largest revenue share of 40% by 2037, owing to increasing awareness about health and wellness along with the adoption of fitness devices & applications in the region. For instance, according to the Health and Fitness Association, over 1 out of 5 people from America were part of a health club or studio in 2021, making a total of 66.5 million consumers aged 6 years and above. The rising awareness of good physical health in addition to mental and emotional well-being is boosting the market in the region.
The heart rate monitoring devices market in the U.S. is driven by increasing cardiovascular health awareness, and growing adoption of fitness tracking devices. In June 2022, participation rates in the U.S. fitness industry stretched up to 21.8%, which is the highest in the country’s history. Technological advancements including wearable and wireless monitors, coupled with increasing demand for personalized healthcare solutions also boost the country’s market expansion.
APAC Market Forecasts
The heart rate monitoring devices market of APAC is driven by the growing population with rising incidences of cardiovascular diseases and a surge in fitness trend, and projected to witness considerable growth. Rapid urbanization, rising disposable incomes, and expanding access to healthcare technologies contribute to the adoption of these devices. Additionally, the integration of wearable technology and government initiatives promoting preventive healthcare are further fuelling the market growth.
The rising prevalence of lifestyle diseases in India, an expanding middle-class population, improving healthcare infrastructure, and the affordability of wearable technologies such as fitness bands and smartwatches are the key factors propelling the demand, and motivating development. In February 2022, Amrita University, announced a partnership with Tranquility IOT and Big Data Solutions, intending to launch Amrita Spandanam. It is a non-invasive wearable device intended to monitor blood glucose, blood pressure, heart rate, blood oxygen, respiratory rate, and 6-lead ECG.
Companies Dominating the Heart Rate Monitoring Devices Landscape
- Apple Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Samsung Electronics Co. Ltd.
- Fitbit International Limited
- Visiomed Group SA
- Nike, Inc.
- Beurer GmbH
- Omron Healthcare, Inc.
- LG Electronics Inc.
- TomTom International BV
- Sony Group Corporation
- Abbott
Companies in the heart rate monitoring devices market are launching several advanced devices for customer convenience and ease of use. In February 2024, Samsung introduced the Galaxy Ring which is a smart ring that incorporates wearable technologies, convenient for fitness tracking, and is designed as a piece of jewellery. Such advancements are projected to keep the market competitive and bring further expansion opportunities. Some of the most prominent players in the market include:
In the News
- In June 2024, Abbott received the CE Mark for the first-of-its-kind i2i technology incorporated AVEIR dual chamber (DR) leadless pacemaker system, in Europe. The leadless pacemaker is approximately one-tenth the size of a traditional pacemaker and smaller in comparison to a AAA battery.
- In June 2021, Apple Inc., introduced the latest iOS 15 configuration that allows users to share their health-related data with their families, or a physician to receive health insights. Also, the newly added tools in iOS 15 were upgraded to identify, measure, and understand the changes in an individual’s health data.
- In February 2021, Samsung Electronics Co., Ltd., announced that users of the Galaxy Watch3 and Galaxy Watch Active2 can track their blood pressure and receive electrocardiogram benefits via the Samsung Health Monitor app. This means that, in addition to heart rate, people are now kept informed about their health throughout the day.
Author Credits: Radhika Pawar
- Report ID: 411
- Published Date: Jan 21, 2025
- Report Format: PDF, PPT
