The global wearable heart monitoring device market is set to grow at a CAGR of almost 10% between 2017–23, driven in part by the new fourth-generation Apple Watch series, according to a report by Market Research Future.
Wearable heart monitors are personal monitoring devices which enable real-time heart measurement. The new series of Apple smartwatch, launched last month, contains an electrocardiogram app which can detect a number of heart diseases and provide peace of mind for users, as well as diagnostic data for sufferers of heart diseases.
The popularity of these smartwatches is expected to be a large factor propelling the growth of the wearable heart monitoring device market, as they normalize the technology and will likely spur copycat products and innovations. For example, The Wall Street Journal recently predicted that blood pressure readings could take place using 3D touch in the future.
"For millions of people around the world, Apple Watch has helped them to stay connected, be more active and live a healthier day," stated Apple CEO Tim Cook.
Market Research Future also noted that the growing prevalence of atrial fibrillation will help propel the growth as, according to the Center for Disease Control, between 2.1 to 6.1 million people in the US suffer from the disease. The Apple Watch can be used to detect the illness and to track data for patients.
Heart monitoring devices are increasingly being integrated with patient care, a trend that is predicted to grow over the coming years across a range of medical devices. The medical wearables devices market overall is expected to be worth more than $14.4bn by 2022 according to Research and Markets.