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Global mobile heart monitoring devices market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Mobile heart monitoring devices is a wearable device that automatically records, detects, and transmits abnormal heart rhythms for up to 30 days.
The factors that are playing a major role in the growth of mobile heart monitoring devices industry are the growing number of people suffering from atrial fibrillation, technological enhancement in mobile healthcare devices, the growth in the occurrence of cardiovascular diseases, and the rise in smartphone users. However, the presence of alternatives and the high cost of mobiles like iPhone and Samsung may restrain the overall market in the years to come. Mobile heart monitoring device market is segmented based on type, product type, application, and region.
Bluetooth enabled, chargeable, and non-chargeable are the types that could be explored in mobile heart monitoring devices industry in the forecast period. Optical technology-based, electric pulse-based, and other product types could be explored in mobile heart monitoring devices market in the forecast period. The optical technology-based devices comprise earphones, smartwatches, and others.
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The market could be categorized based on the end-users like academic institutes, hospitals, retail pharmacies, home care settings, clinics, and others that could be explored in the forecast period. The hospital sector may account for the significant share of mobile heart monitoring devices industry and is estimated to lead the overall market in the years to come. The reason could be the rising use of enhanced technology and the rise in chronic cardiac diseases.
Globally, North America accounted for the significant share of mobile heart monitoring device market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising healthcare expenditure and the presence of key manufacturers in the region. The United States is a major consumer of mobile heart monitoring devices in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of mobile heart monitoring devices in this region.
The key players of mobile heart monitoring device industry are Garmin Ltd., Medtronic, Koninklijke Philips N.V., Kinetec Products UK Ltd., SUUNTO, Beurer GmbH, Polar Electro, Medisana AG, and Briggs Healthcare. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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