Heart Rate Monitoring Devices Market Projected to register CAGR 13.5% during the forecast period 2016–2024

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Heart Rate Monitoring Devices Market Projected to
register CAGR 13.5 during the forecast period
20162024
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Heart Rate Monitoring Devices Market By
Type(Wearable, Wrist Watch Heart Rate Monitor,
Chest Strap Heart Rate Monitor, Strapless Heart
Rate Monitors, Others (Wrist Bands),
Non-Wearable) By End User(Individuals,
Professionals, Hospitals, Others) By
Application(Medical, Sports Fitness, Exercise,
Others) and Region - Global Forecast to
2024 Heart rate monitoring devices are used to
measure or record heart rate of an individual
person. Additionally, heart rate monitors can be
very useful in terms of exercise or workout in
order to maintain heart rate of an individual
such as aerobic and fat burning zone. Chest strap
heart rate monitoring devices are most effective
heart rate monitors among other monitors, when
strapped around an individuals chest they
provide precise accuracy of an individuals heart
rate. Wearable heart rate monitors are very
popular these days due to their capability to be
used in almost every kind of exercises such as
jogging, hiking, cycling, running, swimming,
climbing or when rehabilitating from an injury.
   Market Size Forecast Global heart rate
monitoring devices market is expected to flourish
at a compound annual growth rate (CAGR) of 13.5
over the forecast period i.e. 2017-2024. Further,
rising health consciousness among people coupled
with rising popularity for diagnostic wearable
devices are some of the major trends which are
likely to escalate the growth of global heart
rate monitoring devices market during the
forecast period.
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In terms of region, global heart rate monitoring
devices market is segmented into five major
regions including North America, Europe, Asia
Pacific, Latin America and Middle East Africa
region. Among these regions, North America is
projected to capture largest market share in the
global heart rate monitoring devices market
during the forecast period owing to factors such
as presence of plenty of manufacturers and rising
awareness towards latest smart healthcare devices
in this region. Rising number of people
suffering from cardiac diseases and diabetes is
also anticipated to propel the growth of health
monitoring devices market in this region.
Further, Asia Pacific region is anticipated to
witness a robust growth over the forecast period
due to emergence of new electronic and medical
device industries and higher efficiency of their
products in this region. Europe region is the
second leading market for heart rate monitoring
devices. Factors such as rising rapid advancement
in healthcare infrastructure and medical sector
in Europe region is expected to drive the growth
of heart rate monitoring devices market in this
region.
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Market Segmentation Our-in depth analysis of the
global heart rate monitoring devices market
includes the following segments By
Region Global heart rate monitoring devices
market is further classified on the basis of
region as follows North America (U.S. Canada)
Market size, Y-O-Y growth Opportunity Analysis.
Latin America (Brazil, Mexico, Rest of Latin
America) Market size, Y-O-Y growth Opportunity
Analysis. Europe (U.K., Germany, France, Italy,
Spain, Hungary, Belgium, Netherlands
Luxembourg, Rest of Europe) Market size, Y-O-Y
growth Opportunity Analysis. Asia-Pacific
(China, India, Japan, Singapore, Australia, New
Zealand, Rest of Asia) Market size, Y-O-Y growth
Opportunity Analysis. Middle East and Africa
(GCC, North Africa, South Africa and Rest of
Middle East and Africa) Market size, Y-O-Y growth
Opportunity Analysis.
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Growth Drivers Challenges Global heart rate
monitoring devices market is primarily driven by
factors such as rising awareness among population
towards health care and fitness. Further,
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. Additionally,
increasing penetration of smart phones across the
globe is also escalating the growth of heart rate
monitoring devices. Moreover, compatibility of
smartphones with heart rate monitoring devices is
expected to impel the demand for heart rate
monitoring devices in near future. Adoption of
heart rate monitoring devices in physical
activities such as sports and exercise such as
running, swimming, climbing, hiking and other is
also expected to escalate the demand for heart
rate monitoring devices.
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Further, technological advancement with heart
rate monitoring devices to make it more
convenient to consumers is also a major factor
driving the growth of heart rate monitoring
devices market. Moreover, heart rate monitoring
devices receives a large amount of health data
and stores it. Lack of consumers awareness
towards heart rate monitoring devices coupled
with inability of wrist band heart rate
monitoring devices to produce precise heart rate
data is also one of the major factor which is
likely to hamper the growth of global heart rate
monitoring devices in near future. Key
Players LG Electronics, Company Overview, Key
Product Offerings,
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Business Strategy, SWOT Analysis, Financials,
Visiomed Group, Nu-Beca Maxcellent Co.,
HealthSmart Internationals, Medisana AG,
Apple, Polar Electro, Fitbit, Garmin, Suunto
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