Heart Beat Sensor Market Forecasts to 2028 – Global Analysis By Device Type (Wearable and Non-wearable), Monitoring Type (Vital Sign Monitoring, Diagnostic Monitoring and Specialised Monitoring), Application (Sports and Fitness, Surgery, Patient Monitorin

Heart Beat Sensor Market Forecasts to 2028 – Global Analysis By Device Type (Wearable and Non-wearable), Monitoring Type (Vital Sign Monitoring, Diagnostic Monitoring and Specialised Monitoring), Application (Sports and Fitness, Surgery, Patient Monitoring, Home Healthcare and Other Applications) and By Geography

According to Stratistics MRC, the Global Heart Beat Sensor Market is growing at a CAGR of 15.20% during the forecast period. Heart rate-monitoring infrared sensors are referred to as heartbeat sensors. The heartbeat is one of the most crucial vital signs and should always be monitored, especially in people with heart conditions. These sensors pick up the heartbeat and send a message. The receiver portion of the heartbeat sensor receives these signals and uses the information to determine the heart rate. The signal sent by the transmitter frequently consists of a radio pulse or a specially coded message that cancels out cross-talk interference.

According to the study conducted by the American College of Cardiology on 138 hospitalized COVID-19 patients, 16.7% of patients had arrhythmia and 7.2% experienced an acute cardiac injury, in addition to other COVID-19 related complications.

Market Dynamics:

Driver:

Rising demand for heart beat sensors

One of the key factors propelling the growth of the heartbeat sensor market is the increase in demand for heartbeat sensors for the treatment of patients with chronic heart conditions. The market for heartbeat sensors is growing as people become more aware of the advantages of using them to prevent unanticipated health complications, maintain patients' independence, and lower overall healthcare costs. The market is also influenced by the increasing prevalence of cardiovascular issues among people worldwide and the incorporation of heartbeat sensors to avoid last-minute clinic and doctor appointments.

Restraint:

Inaccurate results

Heart rate sensors may not accurately measure heart rate for a number of reasons, such as poor fit, low battery, interference from other electronic devices, and movement artifacts. Heart rate readings that are inaccurate can be deceptive and even dangerous. Such aspects limit market expansion.

Opportunity:

Increasing public interest for health and fitness

The market for heartbeat sensors is also positively impacted by the internet of things (IoT), high smartphone and tablet usage, lifestyle changes, urbanization, and an increase in healthcare spending. The global market for heartbeat sensors is predicted to grow as a result of the growing public interest in health and fitness. The global market for heartbeat sensors is anticipated to be driven by factors like the expansion of the wearable device sector worldwide.

Threat:

High price of the devices and shortage of qualified workers

Heart rate sensors can be pricey, particularly those intended for use with upscale fitness equipment or medical equipment. The high price of the devices is thus a barrier to this market. Furthermore, the shortage of qualified workers in the device manufacturing industry may also be limiting this market's growth.

Covid-19 Impact

The COVID-19 pandemic has damaged the manufacturing process and revealed significant flaws in the supply chain. However, the pandemic has raised market demand for heart rate sensors. This is because respiratory issues brought on by the coronavirus, which affects the heart and lung tissues, are driving up demand for the devices. Many people are experiencing higher levels of stress and anxiety as a result of the rapidly expanding number of COVID-19 cases and the social isolation brought on by the COVID-19 pandemic, which is driving up demand for heart rate monitoring devices. In order to meet the demand for these products, the companies are increasing their manufacturing capabilities during this period.

The wearable segment is expected to be the largest during the forecast period

The wearable segment is expected to be the largest during the forecast period as a result of factors like the expansion of the wearable device market. All age groups are now adopting wearable technology because it can be both fashionable and useful for tracking one's health. In the upcoming years, this market will also grow at a phenomenal rate as more businesses invest in creating fashionable wearable technology with a variety of uses.

The sports and fitness segment is expected to have the highest CAGR during the forecast period

The sports and fitness segment is anticipated to grow at a significant rate during the projection period. Numerous businesses are integrating heartbeat sensors, which can measure and detect the blood flowing through veins, into running watches, fitness bands, and trackers. Heartbeat sensors are frequently used in cardiovascular exercises like running, swimming, hiking, trekking, and walking, among others, and are integrated into fitness bands. Due to rising levels of awareness and the desire to live a healthy and active lifestyle, the market for these devices is expanding.

Region with largest share:

North America currently holds a dominant position in the heartbeat sensor market due to the region's high prevalence of cardiovascular diseases, growing emphasis on healthcare, accessibility to technology, abundance of key players, increase in government funding for the development of cutting-edge devices, well-established healthcare industry, and high healthcare spending. Additionally, the ever-increasing trend of automation in the healthcare sector and the uptake of IoT technologies in that sector are driving growth in the regional market in the North American region.

Region with highest CAGR:

Due to an increase in technologically advanced medical devices, a rise in the demand for heart rate monitors and the presence of a sizable patient pool in the region, Asia-Pacific is anticipated to experience the highest growth during the forecast period. The region's growth is also being fueled by rising disposable income levels in the area and rising awareness levels.

Key players in the market

Some of the key players profiled in the Heart Beat Sensor Market include Apple Inc., Beurer GmbH, Fitbit, Inc., Garmin Ltd, Koninklijke Philips N.V., LG Electronics, Motorola Solutions, Inc., Murata Manufacturing, Nokia, Omron Corporation, OSRAM, Philips, Polar Electro, PulseOn, SAMSUNG, Seiko Epson, Shenzhen Huajing Baofeng Electronics, Suunto, TomTom International BV, u-beca & maxcellent co., Valencell, Visiomed Group and Weltrend.

Key Developments:

In April 2023, Seiko Epson Corporation (TSE: 6724, Epson) has updated its Epson Wellness SDK (software development kit) to facilitate use of the E508M10, a compact, low power PPG1 healthcare sensor now on sale. This SDK update makes it possible to easily take biological measurements and activity tracking even on parts of the body other than the wrist. The SDK will be available from April 25.

In October 2022, Google is officially unveiling their first full-featured premium smartwatch: Google Pixel Watch, created to combine the smarts and helpfulness you know and love from Google with Fitbit’s health and fitness expertise, all in one elegant design. Google Pixel Watch includes the best of Fitbit’s leading health and fitness features, including its most accurate heart rate tracking yet.

Device Types Covered:
• Wearable
• Non-wearable

Monitoring Types Covered:
• Vital Sign Monitoring
• Diagnostic Monitoring
• Specialised Monitoring

Applications Covered:
• Sports and Fitness
• Patient Monitoring
• Home Healthcare
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements