Future Market Insights
Heart diseases are the primary reasons observed for deaths from the past few years. A growing number of patients suffering from hyperlipidemia, hypertension, and diabetes are more susceptible to suffer from CVDs. These patients required advanced techniques or early detection of these diseases along with proper counseling and medications. This rise in the prevalence of the CVDs coupled with the growing need for advanced monitoring systems is boosting the growth of the global mobile heart monitoring market.
Growing patient-centric approach coupled with growing awareness about health and fitness is augmenting demand for the advanced monitoring systems. This is another important factor in boosting the growth of the mobile heart monitoring market. Additionally, the growing trend of using home healthcare is creating lucrative opportunities for growth of the market.
In order to cater to the demand for advanced heart monitoring systems, the key players are increasingly investing in product innovation and differentiation. Additionally, numerous new players are trying to enter the global mobile heart monitoring market with the introduction of new and advanced featured devices with a user-friendly interface. These devices are witnessing higher adoption owing to its advancements and likely to create a positive impact on the revenue of the mobile heart monitoring market. For instance, Apple Inc. has announced that the company is working on the Apple Watch Series 4, which has advanced heart-monitoring features. This feature can help in the early detection of heart diseases. The launch of these advanced products is expected to boost its adoption and likely to propel the growth of the global mobile heart monitoring market.
Heart diseases is a worldwide problem and have resulted in physical dysfunction and deaths of the human. Nowadays, researchers are focusing on mobile healthcare devices, so that the diagnosis and monitoring are not a problem and is easy to use with Unser friendly interface. The mobile monitoring system will help the user to monitor electrical activity of the heart and inform about any abnormality recognized so that there is no delay in the treatment process. The use of advanced technology has not only affected the safety and health aspects of the people but also created major economic impact. These devices also enable the patient to regularly monitor the heart rate and share the results with concerned physicians and doctors. In Mobile healthcare market, the cardiac monitoring device is leading with significant market share.
Portable devices for diagnosis and monitoring of human physiological conditions are flourishing the market and becoming common. Instead of advanced technology in healthcare, the sudden cardiac death is increasing among both elderly and young people. The risk may be reduced by advancing portable mobile heart monitoring devices. Previously, heart monitoring devices were bulky with wires and electrodes that are connected to the patients and also required long stay in hospitals. The advanced mobile heart monitoring devices have halted the use of Holter monitors market and are itself capturing the market. The new and advanced mobile heart monitoring devices are easily adapted, reliable and perhaps better to detect various types of arrhythmias, such as atrial fibrillation and others. According to American Heart Association statistical report on heart disease and stroke statistics, about 17.3 million deaths each year in the United States, and this number is expected to rise about 23.6 million by 2030.
The novel design of mobile heart monitors are the pocket-sized wireless sensor and do not require Bluetooth connectivity, consumes less power and are relatively inexpensive that previously used heart monitoring devices. Thus the new devices are feasible for developing countries like Philippines, India, and others where these devices can be used with low-cost android smartphones. These devices are affordable, accurate; reliable are not cumbersome to use, patients and physicians are turning their smartphones to smart medical devices. These mobile heart monitoring devices are also used as a fitness tool and during sports activity to monitor heart rate.
Mobile Heart Monitoring Market: Drivers and Restrains
According to Centers for Disease Control and Prevention and it is estimated that in the United States about 2.7million and 6.1 million people suffer from Atrial Fibrillation, and this number will rise with the increase in geriatric population. The atrial fibrillation costs about $6 billion per year in the United States. The rise in prevalence of cardiovascular diseases, technological advancement in mobile healthcare devices, increase in smart phone users and rise in lifestyle diseases and growing awareness about the same and the launch of new advanced technologies for diagnosis and monitoring of heart diseases is expected to boost the market revenue for mobile heart monitoring market. Use of information technologies in medicine and manufacturing of medical devices, strengthening the health of population globally is are anticipated to fuel the growth of mobile heart monitoring market. The major challenge associated with the mobile heart monitoring market are reimbursement scenario, alternative mobile operating devices available, security issues and the high cost of the some of the mobile heart monitoring devices that used expensive Samsung, HTC, iPhone and others are projected to hinder the growth of the mobile heart monitoring market.
Mobile Heart Monitoring Market: Segmentation
The global mobile heart monitoring market has been classified on the basis of product type, end user and geography.
Based on product type, the Mobile Heart Monitoring Market is divided into following:
Based on the End User, the global Mobile Heart Monitoring Market is divided into following:
Mobile Heart Monitoring Market: Overview
Based on the product type, the global mobile heart monitoring market is segmented into heart rate monitors, ECG monitor, activity monitors, and blood pressure monitor. Based on the end user the CINV market is segmented into clinics, hospitals, ambulatory care centers, home care settings, ambulatory care centers and others. The rise in incidences of cardiovascular diseases, funding by the governmental bodies to initiate research and development in mobile healthcare market, companies are focusing on collaboration, acquisition, and merger by various manufacturers to expand their technology to gain insight in diagnosis and monitoring heart patients are attributed towards the growth of mobile heart monitoring
Mobile Heart Monitoring Market: Regional Overview
Region wise, the global Mobile Heart Monitoring Market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America is estimated to account for major share as arrhythmias are prevalent among Americans, increase in geriatric population and technologically advanced wearable/mobile heart monitoring products. According to American Heart Association, about 90% of population are unable to recognize cardiac problems, thus having high necessity for wearable/mobile heart monitoring systems. Asia Pacific is expected to witness substantial growth due to rising incidence of heart disease and availability of prescription and OTC heart monitoring options with low prices that are favored among patients in developing countries
Mobile Heart Monitoring Market: Key Players
Some of the key players in global Mobile Heart Monitoring Market are St. Jude Medical, Inc., Medtronic plc., LivaNova PLC, Koninklijke Philips N.V., AliveCor, Inc. Samsung Electronics Co. Ltd, LifeWatch AG, NeuroMetrix, Inc. General Electric Company Apple Inc.and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
The report covers exhaustive analysis on:
Regional analysis includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.