PUBLISHER: The Business Research Company | PRODUCT CODE: 1429694
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429694
Wearable ECG monitors are portable medical devices designed to record electrical signals from the heart, aiding in the detection of medical conditions related to the heart.
The main types of wearable ECG monitors include wired and wireless variants. Wired wearable ECG monitors are devices that track heart rhythm and operate through a wired connection. These monitors come in various grades, including consumer and clinical. They find applications in conditions such as atrial fibrillation, angina, atherosclerosis, cardiac dysrhythmia, congestive heart failure (CHF), coronary artery disease, heart attack, bradycardia, and tachycardia. These monitors are available through various sales channels, including online platforms and pharmacies.
The wearable ECG monitor market research report is one of a series of new reports from The Business Research Company that provides wearable ECG monitor market statistics, including wearable ECG monitor industry global market size, regional shares, competitors with a wearable ECG monitor market share, detailed wearable ECG monitor market segments, market trends and opportunities, and any further data you may need to thrive in the wearable ECG monitor industry. This wearable ECG monitor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wearable ecg monitors market size has grown exponentially in recent years. It will grow from $3.29 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The expansion observed in the historical period can be attributed to factors such as the rising prevalence of atrial fibrillation, increasing awareness among the general population regarding health and fitness, and rapid growth in the elderly population.
The wearable ecg monitors market size is expected to see exponential growth in the next few years. It will grow to $8.89 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The anticipated growth in the forecast period can be attributed to factors such as the increasing incidence of cardiovascular diseases, growing demand for non-invasive ambulatory rhythm monitoring, and rapid technological advances, which are expected to drive the market for wearable ECG monitors. Major trends in the forecast period include the use of artificial intelligence, technological advancements in wearable ECG devices, the integration of technology and analytics in patient care, investment in wearables and mobile applications, and advances in the use of cardiovascular monitoring technologies.
The rising prevalence of cardiovascular diseases (CVD) has spurred interest in the development of wearable devices for continuous cardiac activity monitoring. According to the Centers for Disease Control and Prevention, CVD causes one death every 36 seconds in the USA, totaling nearly 836,546 deaths. In 2020, heart disease alone led to the demise of around 697,000 individuals in the US. Conditions such as atrial fibrillation, ventricular fibrillation, and atrioventricular block, which involve abnormalities in heart rhythm, necessitate long-term monitoring. Given the high mortality rate in CVD patients, there is a critical need for wearable ECG monitors that enable continuous heart monitoring, facilitating quick emergency responses and earlier detection of heart malfunctions.
The growth of the wearable ECG monitors market is anticipated to be propelled by the aging population. An aging population refers to a growing proportion of elderly individuals within a society due to increased life expectancy and lower birth rates. This demographic shift presents challenges and opportunities in healthcare, pensions, and elderly care. Wearable ECG monitors offer continuous cardiac monitoring, early detection of heart issues, and improved healthcare outcomes for older individuals, enhancing their overall quality of life. In 2020, the United States had 55.7 million adults aged 65 and older, with projections indicating an increase to 80.8 million by 2040. The aging population will continue to contribute to the growth of the wearable ECG monitors market in the forecast period.
The diagnosis of intermittent arrhythmia requires prolonged ambulatory rhythm monitoring. Conventional technologies such as Holter monitoring or external cardiac event recorders have limitations in terms of low sensitivity, diagnostic yield, and patient compliance. While implantable cardiac monitors (ICMs) assist in long-term monitoring, they involve minor surgery and significant costs. This has led to an increased demand for non-invasive ambulatory rhythm monitoring, with smart clothing technology emerging as a novel alternative tool.
In May 2023, Movesense, a Finland-based company specializing in programmable ECG, heart rate, and movement sensors, partnered with Labfront. This integration enables researchers to seamlessly gather and assess ECG, heart rate, heart rate variability, and motion data without the need for SDKs or APIs. Labfront, a US-based company, provides a research tool unifying real-world data capture from wearables, including ECG and blood pressure.
In January 2021, Boston Scientific, a US-based medical technology company, acquired Preventice Solutions for $925 million, expanding its footprint in the cardiac diagnostics and services vertical. Preventice Solutions, a US-based company, manufactures wearable cardiac sensors for remote patient monitoring.
Major companies operating in the wearable ecg monitors market report are iRhythm Technologies, Inc., Koninklijke Philips N.V (Philips healthcare), General Electric Company (GE Healthcare), Nihon Kohden Corporation, Medtronic, CardioComm Solutions, Inc., Withings, QardioCore, AliveCor Inc., Aerotel Medical Systems Ltd., General Medical Inc., Kavitul Technologies Private Limited, Web Biotechnology, Shenzhen YKD Technology Co.,Ltd., SanketLife, Jiangsu Medomics Medical Technology Co., Ltd., Contec Medical Systems Co., Ltd., Hunan Rainbow Technology Co., Ltd., B-Secur, Shimmer Sensing, VEMO, SmartCardia, Omron Kardiamobile EKG, Diagnostic and Interventional Cardiology (DAIC), Inovatica, Emtel, Trismed Co., Ltd., Plux Biosignals, Newtech Inc., Ultromics, CardioNet, Preventice Solutions, Boston Scientific (US), BTL, Apple, Pratixia Dermo Solucoes Ltda, STMicroelectronics, Cardiac Insight Inc., CardiacSense, C3+ Holter Monitor (Cortrium), BIOEGYPT, Pulse
Western Europe was the largest region in the wearable ECG monitor market in 2023. North America was the second-largest region in the global wearable ECG monitors market share. The regions covered in the wearable ecg monitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the wearable ecg monitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The wearable ECG monitors market consist of sales of wired and wireless wearable ECG monitors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Wearable ECG Monitors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on wearable ecg monitors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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 Business Research Company 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.
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