Heart 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.
