Wearable Heart Monitoring Devices Market Size to Hit US$ 5.8 Billion, Globally, by 2031, Expanding at a CAGR of 12.5% Says, Transparency Market Research

Transparency Market Research

Transparency Market Research

Surge in geriatric population and growth in need for effective healthcare management are likely to create lucrative opportunities for players in the global wearable heart monitoring devices industry

Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global wearable heart monitoring devices market is projected to flourish at a CAGR of 12.5% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 5.8 billion is anticipated for the market in 2031. As of 2023, the market for wearable heart monitoring devices is expected to close at US$ billion.

Increasing awareness of the importance of a healthy lifestyle and preventive healthcare drives the adoption of wearable heart monitoring devices as tools for fitness tracking and health management.

The increased prevalence of cardiovascular diseases and related risk factors, such as hypertension and diabetes, has led to a growing demand for tools to monitor heart health and prevent potential issues, driving the market demand during the forecast period.

Wearable heart monitoring devices facilitate remote patient monitoring, allowing healthcare providers to track patients’ heart health in real-time, boosting market growth. Thus the improvement in patient compliance is expected to propel the wearable heart monitoring devices market size in the next few years.

The integration of heart rate monitoring capabilities into smartwatches has made them popular choices for individuals seeking continuous heart rate tracking and other cardiac data.

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Market Snapshot:

 Report Coverage


Market Revenue

US$ 1.9 Bn

Estimated Value

US$ 5.8 Bn

Growth Rate – CAGR



Forecast Period


No. of Pages

153 Pages

Market Segmentation


Regions Covered

North America,Latin America,Europe,Asia Pacific,Middle East & Africa

Companies Covered

Kinetec Medical Products Ltd., Beurer GmbH ,Google, Medisana GmbH ,Polar Electro, SUUNTO Koninklijke Philips N.V. Garmin Ltd. Other Prominent Players

Key Takeaways from the Market Study

  • As of 2022, the wearable heart monitoring devices market was valued at US$ 1.9 billion

  • By application, consumer wellness segment to enjoy high demand, accumulating a high revenue share during the forecast period

  • Based on the product, the smartwatch segment is anticipated to dominate the industry during the forecast period

  • Based on end-user, the home use segment is expected to generate high revenue during the forecast period.

Wearable Heart Monitoring Devices Market: Key Trends and Opportunistic Frontiers

  • Increasing technological advances in wearable devices such as miniaturization, improved sensors, and longer battery life, have made wearable heart monitoring devices more accurate, comfortable, and convenient for users.

  • Market players are investing in research & development of remote patient monitoring technologies to expand their product portfolio and increase their wearable heart monitoring devices market share.

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Wearable Heart Monitoring Devices Market – Regional Analysis

  • North America is estimated to dominate the major wearable heart monitoring device market during the forecast period. Increasing awareness about health and wellness drives the demand for wearable heart monitoring devices. The region’s focus on digital health initiatives and telehealth contribute to the growth of wearable heart monitoring.

  • The wearable heart monitoring device industry in the Asia Pacific is projected to grow at a rapid pace during the forecast period. Increased disposable income, Countries like China and India driving the demand for wearable devices. The growing aging population drives the need for heart health monitoring devices increase.

Competitive Landscape

The wearable heart monitoring devices market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global wearable heart monitoring devices market report:

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Key Developments in the Wearable Heart Monitoring Devices Market

  • In May 2023 – Beurer has founded a new subsidiary in the Netherlands, With Beurer Benelux, the German health specialist is expanding its sales and service structure for the countries of Belgium, the Netherlands and Luxembourg to serve the European market even better.

  • In May 2023 – Garmin announced the fēnix® 7 Pro Series, premium multisport GPS smartwatch with solar charging designed to help athletes and adventurers perform at their best. With pro-grade performance insights, additional mapping capabilities, and around-the-clock health and wellness tracking, fēnix 7 Pro Series is built to conquer.

  • Apple introduced the Apple Watch Series 7, which features advanced health monitoring capabilities, including an ECG app that can detect irregular heart rhythms and track heart rate variability.

  • Fitbit continued to enhance its lineup of wearable fitness trackers with features like heart rate monitoring, sleep tracking, and guided breathing exercises.

Wearable Heart Monitoring Devices Market



  • Healthcare Monitoring

  • Consumer Wellness

  • Others (Research, etc.)


  • Hospitals

  • Specialty Centers

  • Academic & Research Institutes

  • Home Use

  • Others (Ambulatory Service Centers, Nursing Homes, etc.)

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.


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