This report describes and evaluates the global wearable ECG monitors market. It covers 2016-2021, termed the historic period, 2021-2026 forecast period, and 2026-2031 forecast period.
The global wearable ECG monitors market reached a value of nearly $1924.6 million in 2021, having increased at a compound annual growth rate (CAGR) of 13.4% since 2016. The market is expected to grow from $1924.6 million in 2021 to $6272.3 million in 2026 at a rate of 26.7%. The market is expected to grow to $18247.9 million in 2031 at a compound annual growth rate (CAGR) of 23.8%.
Growth factors in the historic period include rising prevalence of atrial fibrillation, rising awareness among general population regarding health and fitness and a rapid growth in elderly population. Factors that negatively affected growth in the historic period were challenges due to regulatory changes and data security.
Going forward, increasing incidence of cardiovascular disease, increasing demand for non-invasive ambulatory rhythm monitoring and rapid technological advances initiatives will drive the market for wearable ECG monitors. Factors that could hinder the growth of the wearable ECG monitors market in the future include inaccuracies of wearable devices.
The wearable ECG monitors market is segmented by type into wired and wireless. The wired market was the largest segment of the wearable ECG monitors market segmented by type, accounting for 59.2% of the total in 2021 and going forward the wireless market is expected to be the fastest growing segment in the wearable ECG monitors market, at a CAGR of 29.6%.
The wearable ECG monitors market is segmented by application into atrial fibrillation, angina, atherosclerosis, cardiac dysrhythmia, congestive heart failures (CHF), coronary artery disease, angina and heart attack, bradycardia and tachycardia. The coronary artery disease, angina and heart attack market was the largest segment of the wearable ECG monitors market segmented by application, accounting for 27.4% of the total in 2021, and going forward, the bradycardia market is expected to be the fastest growing segment in the wearable ECG monitors market by application, at a CAGR of 29.5%.
The wearable ECG monitors market is segmented by grade into consumer and clinical. The clinical market was the largest segment of the wearable ECG monitors market segmented by grade, accounting for 78.9% of the total in 2021, and going forward, the consumer market is expected to be the fastest growing segment in the wearable ECG monitors market by grade, at a CAGR of 28.1%.
The wearable ECG monitors market is segmented by sales channel into online and pharmacy. The pharmacy market was the largest segment of the wearable ECG monitors market segmented by sales channel, accounting for 42.4% of the total in 2021, and going forward, the online market is expected to be the fastest growing segment in the wearable ECG monitors market by sales channel, at a CAGR of 38.3%.
North America was the largest region in the global wearable ECG monitors market, accounting for 32.4% of the total in 2021. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the wearable ECG monitors market will be Asia-Pacific, and North America, where growth will be at CAGRs of 31.8% and 28.3% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 24.9 % and 17.9% respectively.
The wearable ECG monitors market is highly fragmented, with a large number of large players dominating the market. Major players in the market include iRhythm, Koninklijke Philips N.V (Philips healthcare), General Electric Company (GE Healthcare), Nihon Kohden Corporation, Medtronic, CardioComm Solutions, Inc., Withings, QardioCore, AliveCor Inc. and Aerotel Medical Systems Ltd.
The top opportunities in the wearable ECG monitors market segmented by type will arise in the wired market segment, which will gain $2,257 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by application will arise in the coronary artery disease, angina and heart attack market segment, which will gain $1,147.7 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by grade will arise in the clinical market segment, which will gain $3,350.3 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by sales channel will arise in the pharmacy market segment, which will gain $1,638.5 million of global annual sales by 2026. The wearable ECG monitors market will gain the most in the USA at $1,366.2 million.
Market-trend-based strategies for the wearable ECG monitors market include the use of artificial intelligence, technological advancement in wearable ECG devices, technology and analytics in patient care, investment in wearables and mobile applications and advances in the use of cardiovascular monitoring technologies.
Player-adopted strategies in the wearable ECG monitors market include focus on investing in new product launches, technological advancements and the use of artificial intelligence to strengthen product offerings.
To take advantage of the opportunities, the publisher recommends the wearable ECG monitors companies to focus on artificial intelligence (AI), develop technologically advanced products, expand in emerging markets, offer competitive pricing, continue to use B2B promotions, focus more on direct-to-consumer (DTC) advertising, continue to participate in events and conferences and focus on fast-growing applications.
The global wearable ECG monitors market reached a value of nearly $1924.6 million in 2021, having increased at a compound annual growth rate (CAGR) of 13.4% since 2016. The market is expected to grow from $1924.6 million in 2021 to $6272.3 million in 2026 at a rate of 26.7%. The market is expected to grow to $18247.9 million in 2031 at a compound annual growth rate (CAGR) of 23.8%.
Growth factors in the historic period include rising prevalence of atrial fibrillation, rising awareness among general population regarding health and fitness and a rapid growth in elderly population. Factors that negatively affected growth in the historic period were challenges due to regulatory changes and data security.
Going forward, increasing incidence of cardiovascular disease, increasing demand for non-invasive ambulatory rhythm monitoring and rapid technological advances initiatives will drive the market for wearable ECG monitors. Factors that could hinder the growth of the wearable ECG monitors market in the future include inaccuracies of wearable devices.
The wearable ECG monitors market is segmented by type into wired and wireless. The wired market was the largest segment of the wearable ECG monitors market segmented by type, accounting for 59.2% of the total in 2021 and going forward the wireless market is expected to be the fastest growing segment in the wearable ECG monitors market, at a CAGR of 29.6%.
The wearable ECG monitors market is segmented by application into atrial fibrillation, angina, atherosclerosis, cardiac dysrhythmia, congestive heart failures (CHF), coronary artery disease, angina and heart attack, bradycardia and tachycardia. The coronary artery disease, angina and heart attack market was the largest segment of the wearable ECG monitors market segmented by application, accounting for 27.4% of the total in 2021, and going forward, the bradycardia market is expected to be the fastest growing segment in the wearable ECG monitors market by application, at a CAGR of 29.5%.
The wearable ECG monitors market is segmented by grade into consumer and clinical. The clinical market was the largest segment of the wearable ECG monitors market segmented by grade, accounting for 78.9% of the total in 2021, and going forward, the consumer market is expected to be the fastest growing segment in the wearable ECG monitors market by grade, at a CAGR of 28.1%.
The wearable ECG monitors market is segmented by sales channel into online and pharmacy. The pharmacy market was the largest segment of the wearable ECG monitors market segmented by sales channel, accounting for 42.4% of the total in 2021, and going forward, the online market is expected to be the fastest growing segment in the wearable ECG monitors market by sales channel, at a CAGR of 38.3%.
North America was the largest region in the global wearable ECG monitors market, accounting for 32.4% of the total in 2021. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the wearable ECG monitors market will be Asia-Pacific, and North America, where growth will be at CAGRs of 31.8% and 28.3% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 24.9 % and 17.9% respectively.
The wearable ECG monitors market is highly fragmented, with a large number of large players dominating the market. Major players in the market include iRhythm, Koninklijke Philips N.V (Philips healthcare), General Electric Company (GE Healthcare), Nihon Kohden Corporation, Medtronic, CardioComm Solutions, Inc., Withings, QardioCore, AliveCor Inc. and Aerotel Medical Systems Ltd.
The top opportunities in the wearable ECG monitors market segmented by type will arise in the wired market segment, which will gain $2,257 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by application will arise in the coronary artery disease, angina and heart attack market segment, which will gain $1,147.7 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by grade will arise in the clinical market segment, which will gain $3,350.3 million of global annual sales by 2026. The top opportunities in the wearable ECG monitors market segmented by sales channel will arise in the pharmacy market segment, which will gain $1,638.5 million of global annual sales by 2026. The wearable ECG monitors market will gain the most in the USA at $1,366.2 million.
Market-trend-based strategies for the wearable ECG monitors market include the use of artificial intelligence, technological advancement in wearable ECG devices, technology and analytics in patient care, investment in wearables and mobile applications and advances in the use of cardiovascular monitoring technologies.
Player-adopted strategies in the wearable ECG monitors market include focus on investing in new product launches, technological advancements and the use of artificial intelligence to strengthen product offerings.
To take advantage of the opportunities, the publisher recommends the wearable ECG monitors companies to focus on artificial intelligence (AI), develop technologically advanced products, expand in emerging markets, offer competitive pricing, continue to use B2B promotions, focus more on direct-to-consumer (DTC) advertising, continue to participate in events and conferences and focus on fast-growing applications.
Frequently Asked Questions about the Global Wearable ECG Monitors Market
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Report Attribute | Details |
---|---|
No. of Pages | 279 |
Published | November 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 1924.6 Million |
Forecasted Market Value ( USD | $ 18247.9 Million |
Compound Annual Growth Rate | 25.2% |
Regions Covered | Global |
Table of Contents
1. Wearable ECG Monitors Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure18. Competitive Landscape And Company Profiles
6. Introduction and Market Characteristics
7. Major Market Trends
8. Global Market Size And Growth
9. Global Wearable ECG Monitors Market Segmentation
10. Wearable ECG Monitors Market, Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers And Acquisitions In The Wearable ECG Monitors Market
21. Wearable ECG Monitors Market Opportunities And Strategies
22. Wearable ECG Monitors, Conclusions And Recommendations
23. Appendix
Executive Summary
Wearable ECG Monitors Global Market Opportunities And Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global wearable ECG monitors market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description:
Where is the largest and fastest growing market for wearable ECG monitors? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The wearable ECG monitors market global report from the publisher answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider wearable ECG monitors market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions, and explanations about wearable ECG monitors market
- Key Trends - Highlights the major trends shaping the global wearable ECG monitors market. This section also highlights likely future developments in the market
- Global Market Size and Growth - Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional Analysis - Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region
- Market Segmentation - Contains the market values (2016-2031) and analysis for for segment by type, by application, by grade and by sales channel in the market
- Regional Market Size and Growth - Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations - Includes recommendations for wearable ECG monitors in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report
Scope
Markets Covered:- 1) By Type: Wired; Wireless
- 2) By Application: Atrial Fibrillation; Atherosclerosis; Cardiac Dysrhythmia; Congestive Heart Failures (CHF); Coronary Artery Disease, Angina And Heart Attack; Bradycardia; Tachycardia
- 3) By Grade: Consumer; Clinical
- 4) By Sales Channel: Online; Pharmacy
Countries: Australia; China; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; wearable ECG monitors indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
A selection of companies mentioned in this report includes:
- iRhythm Technologies, Inc.
- Koninklijke Philips N.V (Philips healthcare)
- General Electric Company (GE Healthcare)
- Nihon Kohden Corporation
- Medtronic
Methodology
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