Heart Rate Monitor Watch Market

Heart Rate Monitor Watch Market Outlook (2022-2032)

At present, the global heart rate monitor watch market accounts for a valuation of US$ 19.87 billion and is projected to surge to US$ 36.6 billion by the end of 2032.

Between 2022 and 2032, worldwide sales of heart rate monitor watches are projected to increase at a noteworthy CAGR of 6.3%. Increasing incidence of cardiovascular disorders and rising focus on health are the major factors expected to drive demand for heart rate monitor watches over the coming years.

Report Attributes	Details
Heart Rate Monitor Watch Market Size (2022E)	US$ 19.87 Billion
Forecasted Market Value (2032F)	US$ 36.6 Billion
Global Market Growth Rate (2022-2032)	6.3% CAGR
North America Market Share (2022)	25.9%
Europe Market Share (2022)	22.7%
Key Companies Profiled	Apple Sony Sigma Samsung Motorola Mio Nike Garmin Polar Epson Asus LG Lenovo Fitbit

Demand Analysis of Heart Rate Monitor Watches (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)

Healthcare technologies have advanced rapidly over the past few years and this has been majorly driven by increasing digitization in the healthcare industry. Focus on health and fitness has increased substantially among the population owing to the prevalence of lifestyle disorders and chronic diseases and this is expected to propel the demand for heart rate monitor watches as people try to keep a track of their heart rates.

Smart watches with blood pressure and heart rate monitors have become increasingly popular among the fitness-conscious population, and the high availability of various watches has also favoured the heart rate monitor watch market potential.

Patient engagement and patient monitoring demand have substantially increased owing to the growing use of connected technologies in healthcare infrastructure.

Increasing per capita disposable income, rising prevalence of cardiovascular disorders, growing adoption by the millennial population, rising geriatric population, and increasing number of sports activities are other factors that are expected to positively influence heart rate monitor watch shipments through 2032.

The global heart rate monitor watch market is predicted to expand at a 6.3% CAGR from 2022 to 2032.

Which Major Factor is Driving Sales of Heart Rate Monitor Watches?

“Rising Global Prevalence of Cardiovascular Diseases”

Cardiovascular disorders have witnessed a spike in incidence over the past few years and this trend is anticipated to be rife across the forecast period as well. Awareness of cardiovascular diseases has also increased and this is expected to propel heart rate monitor watch sales through 2032.

Increasing need to monitor heart rate to identify and treat cardiovascular disorders is expected to primarily drive sales of wrist heart rate monitors and heartbeat watches over the coming years.

How Can New Entrants Carve a Space for Themselves in This Marketplace?

“Aspiring Market Players Can Focus on Launching Innovative Products”

• Garmin, a leading name in wearable and GPS technology, announced the launch of the first solar-powered GPS running smartwatch in India. Forerunner 955 Solar is the first-of-its-kind smartwatch with solar charging. The watch also features unique features such as heart variability status and a race widget, especially for athletes to practice for races.

New companies can focus on the integration of advanced technologies and create innovative products with unique features that make them stand out in the crowd. Along with this, aspiring market players should also focus on creative marketing strategies to promote their products and increase their sales potential, which would help them make a mark in the global landscape.

How Will Heart Rate Monitor Watch Sales Perform Across Geographies?

“Global Heart Rate Monitor Watch Demand Led by Asia Pacific”

Increasing prevalence of cardiovascular disorders and rising per capita disposable income in the region of Asia Pacific are expected to drive shipments of heart rate monitor watches over the coming years. Sales of heart rate monitor watches in China hold a revenue total of US$ 3.47 billion in 2022 and a market share of 17.5% in the global landscape.

Growing use of smartwatches among millennials and rising focus on health and fitness are also expected to positively influence heart rate monitor watch market growth in the Asia Pacific region.

Heart rate trackers are anticipated to witness high demand in North America owing to the increasing geriatric population who are more prone to contract cardiovascular disorders.

Currently, the market for heart rate monitor watches in North America accounts for a significant market share of 25.9% and a total valuation of US$ 5.14 billion.

A complete assessment of regional markets has been listed in this latest heart rate monitor watch market research survey by Fact.MR, a market research and competitive intelligence provider.

Which Operating System Has Captured the Largest Market Share?

“Android Operating Systems Enjoy Bulk of Market Pie”

The heart rate monitor watch market, based on operating system, is segmented into iOS heart rate monitor watches and Android heart rate monitor watches.

Smartwatches using iOS operating systems have been popular and have held a major market share over the past years. Apple heart rate monitors are highly popular in regions of North America and Europe.

This trend is expected to change across the forecast period as the popularity of Android smartwatches increases. An increasing number of new entrants opting to use Android operating systems is expected to propel the demand for Android operating systems over the coming years.

Competitive Landscape :

Heart rate monitor watch manufacturers are focusing on launching new products that are equipped with advanced technologies with competitive pricing to gain an advantage over their competitors.

• In July 2022, Huawei, a Chinese multinational technology corporation, announced the launch of its new smartwatch. Huawei Watch Fit 2 was launched with a 1.74-inch AMOLED screen and supports a new press-type quick strap-release technology. The watch is also equipped with an optical heart sensor and has intelligent heart rate detection along with other healthcare technology features.

Segmentation of Heart Rate Monitor Watch Industry Research

• Heart Rate Monitor Watch Market by Operating System :

  • Android Heart Rate Monitor Watches
  • iOS Heart Rate Monitor Watches

• Heart Rate Monitor Watch Market by Application :

  • Healthcare
  • Sports
  • Personal Assistance

• Heart Rate Monitor Watch Market by Display Type :

  • PMOLED Heart Rate Monitor Watches
  • AMOLED Heart Rate Monitor Watches
  • TFT LCD Heart Rate Monitor Watches

• Heart Rate Monitor Watch Market by Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA