Healthcare Heart Rate Monitoring Devices Market | Page 2

The global heart rate monitoring devices market is segmented into type such as
wearable and non-wearable. Among these segments, wearable segment is
expected to be the fastest growing segment in the heart rate monitoring devices
market. The rise of the wearable segment can be attributed to a number of factors
such as technological advancements in medical science and consumer’s
inclination towards wearable technologies across the globe.
Global heart rate monitoring devices market is expected to register a 13.5% CAGR
over the forecast period. Moreover, the global heart rate monitoring devices
market is expected to reach at notable revenue by the end of 2024. The market is
expected to expand on the back of increasing health consciousness among people,
rising incidence of heart diseases and swelled disposable income of the
consumers. Moreover, growing adoption rate of smart healthcare devices is also
expected to drive the growth of global heart rate monitoring devices market.
The medical segment by application is likely to grow at remarkable pace during
the forecast period. Increasing geriatric population and rising prevalence
cardiovascular diseases across the globe are likely to be the dynamic factors
behind the growth of global heart rate monitoring devices market over the
forecast period.
Increasing Penetration of Smartphones
The health consciousness amongst the consumers is growing which in turn likely
to increase demand for connected medical devices such as smart medical
wearable, health trackers and others. Further, rising number of smartphone
based healthcare apps users is projected to fuel the demand for heart rate
monitoring devices during the forecast period. In addition to this, increasing
spending by consumer’s on smart wearable is envisioned to bolster the growth of
market during the forecast period.
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Awareness regarding fitness and wellness
Rising health concerns amongst the population is a major factor which is
increasing the demand for advanced heath tracking devices in every region.
Moreover, increasing incidence of heart diseases and growing awareness
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