Optical Pulse and Heart Rate Sensor Market - Forecast(2021 - 2026)

Report Code: HCR 1295 Report Format: PDF + Excel (Delivery in 48 Hrs)

Optical Pulse and Heart Rate Sensor Market Overview

Optical Pulse and Heart Rate Sensor Market size is forecast to reach $3.13 billion by 2025, growing at a CAGR of 9.52% during the forecast period 2020-2025. Rising prevalence of diabetes & cardiovascular diseases among the general population and the rise in the use of diagnostic wearable medical devices for regular personal health monitoring are the major factors driving the growth of the market. Increasing geriatric population base and growing health consciousness people & technological innovation will further enhance the overall market demand of optical pulse and heart rate sensor during the forecast period.

Report Coverage

The report: “Optical Pulse and Heart Rate Sensor Market Forecast (2019-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the optical pulse and heart rate sensor Market.

By Detection Method 

  • Transmission
  • Reflection

By End Products

  • Smart Watches
  • Smart phones
  • Smart Earphones
  • Medical Devices
  • Finger Clips
  • Handheld Pulse Oximeter
  • Wrist Worn Pulse Oximeter
  • Others

By Application

  • Fitness and Activity Training
  • Patient Monitoring

By End User

  • Consumer Electronics
  • Medical & Healthcare
  • Hospitals 
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  • First Responders

By Geography

  • North America
  • Europe
  • APAC
  • RoW

Key Takeaways

  • North America dominates the optical pulse and heart rate sensor market owing to increasing prevalence of cardiovascular and diabetes diseases and advancement in technology. The optical pulse and heart rate sensor market scope for different regions will be provided in the final report.
  • The increasing prevalence chronic diseases and growing  geriatric population and increasing health consciousness among the millennial population in the developed and  developing countries is likely to aid in the market growth of optical pulse and heart rate sensor.
  • Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the market will be provided in the optical pulse and heart rate sensor market report.
  • Growing design constraint and trust on the efficacy of the data collected by these portable devices will create hurdles for the optical pulse and heart rate sensor market.

End Products - Segment Analysis

Smart Watches segment held the largest share in the optical pulse and heart rate sensor market in 2019 and is estimated to grow at a CAGR of 6.67% during the forecast period 2020-2025. There is a growing demand for portable devices with higher energy savings and miniaturization. With continuous addition of new features, heart rate monitoring capability are becoming popular among wearable’s, such as smart watches. Smart watches are equipped with miniaturized electronic devices, such as microchips and sensors, which gather data, record activities, and offer and transform information on a real-time basis. Smart watches are wearable devices used to track the real-time exercise, heart rate, sleep statistics, and calorie intake of a person, as well as provide other insights into the health. Introduction of smartphone apps to monitor heart rate has also occupied attentions of many people. Wrist worn pulse oximeter is also being used to track the activities of the patients to measure blood oxygen level and pulse rate without hindering their normal finger movement.  Ashkelon, Oxitone Medical, based in Israel, has been granted FDA approval for a wristworn pulse oximeter that doesn't require a finger clip.

Application - Segment Analysis

Patient monitoring holds major share in the optical pulse and heart rate sensor market in 2019. This is owing to the increased usage of these portable devices among the geriatric population and the recommendation by the healthcare professionals for these devices. The data recorded by these devices are monitored by the healthcare professionals and are used during the time of treatment of patients. However, fitness and activity training segment is projected to witness significant growth of CAGR 5.35% during the forecast period 2020-2025. Increasing health awareness among the millennial group and their concern regarding their lifestyles will be resulting in the increased adoption of portable devices such as smart watches and smart phones. Regular analysis of their health based on the data provided by these devices will decrease the risk of severe diseases. Regular usage of these devices is also helping the people to change their lifestyles and the people are adopting healthy ways of living.

Geography - Segment Analysis

North America dominated the optical pulse and heart rate sensor market with a share of more than 43.5%, followed by Europe. High prevalence rate of diabetes and cardiovascular diseases in this region due to changing lifestyle habits and the rising geriatric population are the factors that has led to the adoption of portable devices contributing in the growth of the pulse and heart rate sensor market in this region. Rising government support for the development of advanced portable devices and well developed health care sector has boosted the growth of the pulse and heart rate sensor market in this region. New advances in technology, approval for new products by the US FDA and presence of key players that are in the market. Europe accounted for the second largest market share for the pulse and heart rate sensors market owing to the increasing prevalence of cardiovascular diseases & diabetes and demand for wearable heart rate monitors.

However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period. This is because of the rising disposable incomes, expansion of healthcare infrastructure, and increasing medical tourism. As most of the countries in Asia Pacific have large population base, the adoption of these portable devices among the young generation is growing which will be having a positive impact on the optical pulse and heart rate sensor market. The growing geriatric population in countries such as Japan and China is resulting in the increasing prevalence cardiovascular, diabetes & hypertension disorders.  People’s changing lifestyle and increase healthcare awareness will also contribute in the growth of the optical pulse and heart rate sensor market in this region.

Drivers – Optical pulse and heart rate sensor Market

  • Growing Prevalence of cardiovascular & diabetic diseases and increasing geriatric population

There is an increased rate of prevalence of cardiovascular & diabetic diseases among the general population around the world due to changing lifestyles. According to World Health Organization, cardiovascular diseases are the number one cause of death globally with an estimated 17.9 million death each year. According to IDF statistics, somebody is currently estimated to die of diabetes or its complications every seven seconds, with 50 percent of those deaths (4 million in total per year) occurring below 60 years of age. The increasing geriatric population is also helping in the growth of the market owing to the prevalence of these disease. According to the American Heart Association, an estimated 85.6 million American adults have 1 or more types of CVD (Cardiovascular Disease), out of which 43.7 million are estimated to be greater than 60 years of age.

  • Technological Advancements & Upgradation in the portable medical devices  & Rising consumer awareness

Manufacturers are designing smart bands using advanced actuators and sensors to give the human-computer interaction a more realistic sense of touch. With a growing demand for smart wearable fitness products, numerous supply chain providers are developing strategic partnerships to help and promote the growth of wearable device technology. Advances in certain portable wearable medical devices have led to increased use of these devices by a number of individuals. Integration of IT into most diagnostic wearable medical devices is on the rise, and demand for advanced devices has been fuelled by automated generation of medical records in digital format [electronic health record (EHR)]. The rising consumer awareness and growing medical tourism is also contributing in the growth of the market.

Challenges – Optical Pulse and Heart Rate Sensors Market

  • Growing Design constraint of these devices and trust on the efficacy of the data monitored.

Wearable devices face design limitations that could hamper market growth. Most of the current gadgets focus on technology and have several design constraints related to issues related to the physical shape, scale, and weight of a wearable monitoring system and its ergonomics. That will have a negative impact on wearable device adoption, which in turn will hamper the growth of optical pulse and heart rate sensor market.

Some Healthcare professionals do not trust data recorded by these devices, as they believe that data gathered by these devices have been affected by the external factors such as smudges and various environmental factors.

Optical Pulse and Heart Rate Sensor Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the optical pulse and heart rate sensor market. In 2019, optical pulse and heart rate sensor market share is consolidated by the top ten players present in the market. Optical Pulse and Heart Rate Sensor top 10 companies are Maxim Integrated products, OSRAM Licht Group, ROHM, Texas Instruments Inc., Silicon Laboratories Inc., Valencell Inc., TE Connectivity Ltd., Microchip Technology Inc., Fitbit Inc., and Apple among others.

Acquisitions/Product Launches

  • In July 2019, Microsoft filed patent for ‘multidimesional ‘optical heart rate sensor that could strengthen accuracy. The heart rate sensor is being called multidimensional because it could theoretically detect heart rate, pulse wave velocity, blood and tissue oxygenation and more, including metrics that can proxy for blood pressures.
  • In August 2019, Garmin, in collaboration with the Munich airport retail category, launched a series of innovative smartwatches for athletes, which include a wrist-based heart rate monitor that adapts to altitude and weather conditions. This device also offers features such as ski maps, option to control battery life, option for runners to adjust their pace while training in hilly areas, a longer GPS running time, and an auto-alert function in case of accidents. 
  • In April 2019, Osram Opto Semiconductors announced that it is part of a new project, which is exploring the principles of high-resolution visualization solutions using µLEDs (micro LEDs). The project, which began in November 2018, is funded by the Bavarian State Ministry for Economic Affairs, Regional Development, and Energy. The project is expected to be completed in October 2021, with an initial demonstrator.
  • In June 2018, Texas Instruments announced the addition of new microcontrollers (MCUs) with integrated signal-chain elements and an extended operating temperature range to its MSP430 value line portfolio.

1. Optical Pulse and Heart Rate Sensor Market - Overview
1.1. Definitions and Scope
2. Optical Pulse and Heart Rate Sensor Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Optical Pulse and Heart Rate Sensor Market 
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis 
4. Optical Pulse and Heart Rate Sensor Market – Startup companies Scenario Premium
4.1. Top 10 startup company Analysis by
4.1.1. Investment
4.1.2. Revenue
4.1.3. Market Shares
4.1.4. Market Size and Application Analysis
4.1.5. Venture Capital and Funding Scenario
5. Optical Pulse and Heart Rate Sensor Market – Industry Market Entry Scenario Premium
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing business index
5.3. Case studies of successful ventures
5.4. Customer Analysis – Top 10 companies
6. Optical Pulse and Heart Rate Sensor Market Forces
6.1. Drivers
6.2. Constraints
6.3. Challenges
6.4. Porters five force model
6.4.1. Bargaining power of suppliers
6.4.2. Bargaining powers of customers
6.4.3. Threat of new entrants
6.4.4. Rivalry among existing players
6.4.5. Threat of substitutes 
7. Optical Pulse and Heart Rate Sensor Market -Strategic analysis
7.1. Value chain analysis
7.2. Opportunities analysis
7.3. Product life cycle
7.4. Suppliers and distributors Market Share
8. Optical Pulse and Heart Rate Sensor Market – By Detection Method (Market Size -$Million / $Billion)
8.1. Market Size and Market Share Analysis 
8.2. Application Revenue and Trend Research
8.3. Product Segment Analysis
8.3.1. Transmission
8.3.2. Reflection
9. Optical Pulse and Heart Rate Sensor Market – By End Products (Market Size -$Million / $Billion)
9.1. Smart Watches
9.2. Smartphones 
9.3. Fitness Bands
9.4. Smart Earphones
9.5. Medical Devices
9.5.1. Finger Clips
9.5.2. Handheld Pulse Oximeter
9.5.3. Wrist Worn Pulse Oximeter
9.5.4. Others
9.6. Others
10. Optical Pulse and Heart Rate Sensor Market – Application (Market Size -$Million / $Billion)
10.1. Fitness and Activity Tracking
10.2. Patient Monitoring
11. Optical Pulse and Heart Rate Sensor – End User(Market Size -$Million / $Billion)
11.1. Segment type Size and Market Share Analysis 
11.2. Application Revenue and Trends by type of Application
11.3. Application Segment Analysis by Type
11.3.1. Consumer Electronics
11.3.2. Medical and Healthcare
11.3.2.1. Hospitals
11.3.2.2. Ambulatory Surgical Centers
11.3.2.3. Diagnostic Centers
11.3.2.4. Others
11.3.3. First Responders
11.3.4. Others
12. Optical Pulse and Heart Rate Sensor - By Geography (Market Size -$Million / $Billion)
12.1. Optical Pulse and Heart Rate Sensor Market - North America Segment Research
12.2. North America Market Research (Million / $Billion)
12.2.1. Segment type Size and Market Size Analysis 
12.2.2. Revenue and Trends
12.2.3. Application Revenue and Trends by type of Application
12.2.4. Company Revenue and Product Analysis
12.2.5. North America Product type and Application Market Size
12.2.5.1. U.S.
12.2.5.2. Canada 
12.2.5.3. Mexico 
12.2.5.4. Rest of North America
12.3. Optical Pulse and Heart Rate Sensor - South America Segment Research
12.4. South America Market Research (Market Size -$Million / $Billion)
12.4.1. Segment type Size and Market Size Analysis 
12.4.2. Revenue and Trends
12.4.3. Application Revenue and Trends by type of Application
12.4.4. Company Revenue and Product Analysis
12.4.5. South America Product type and Application Market Size
12.4.5.1. Brazil  
12.4.5.2. Venezuela
12.4.5.3. Argentina
12.4.5.4. Ecuador
12.4.5.5. Peru
12.4.5.6. Colombia 
12.4.5.7. Costa Rica
12.4.5.8. Rest of South America
12.5. Optical Pulse and Heart Rate Sensor - Europe Segment Research
12.6. Europe Market Research (Market Size -$Million / $Billion)
12.6.1. Segment type Size and Market Size Analysis 
12.6.2. Revenue and Trends
12.6.3. Application Revenue and Trends by type of Application
12.6.4. Company Revenue and Product Analysis
12.6.5. Europe Segment Product type and Application Market Size
12.6.5.1. U.K  
12.6.5.2. Germany 
12.6.5.3. Italy 
12.6.5.4. France
12.6.5.5. Netherlands
12.6.5.6. Belgium
12.6.5.7. Spain
12.6.5.8. Denmark
12.6.5.9. Rest of Europe
12.7. Optical Pulse and Heart Rate Sensor – APAC Segment Research
12.8. APAC Market Research (Market Size -$Million / $Billion)
12.8.1. Segment type Size and Market Size Analysis 
12.8.2. Revenue and Trends
12.8.3. Application Revenue and Trends by type of Application
12.8.4. Company Revenue and Product Analysis
12.8.5. APAC Segment – Product type and Application Market Size
12.8.5.1. China 
12.8.5.2. Australia
12.8.5.3. Japan 
12.8.5.4. South Korea
12.8.5.5. India
12.8.5.6. Taiwan
12.8.5.7. Malaysia
13. Optical Pulse and Heart Rate Sensor Market - Entropy
13.1. New product launches
13.2. M&A's, collaborations, JVs and partnerships
14. Optical Pulse and Heart Rate Sensor Market – Industry / Segment Competition landscape Premium
14.1. Market Share Analysis
14.1.1. Market Share by Country- Top companies
14.1.2. Market Share by Region- Top 10 companies
14.1.3. Market Share by type of Application – Top 10 companies
14.1.4. Market Share by type of Product / Product category- Top 10 companies
14.1.5. Market Share at global level- Top 10 companies
14.1.6. Best Practises for companies
15. Optical Pulse and Heart Rate Sensor Market – Key Company List by Country Premium
16. Optical Pulse and Heart Rate Sensor Market Company Analysis
16.1. Market Share, Company Revenue, Products, M&A, Developments
16.2. Company 1
16.3. Company 2
16.4. Company 3
16.5. Company 4
16.6. Company 5
16.7. Company 6
16.8. Company 7
16.9. Company 8
16.10. Company 9
16.11. Company 10 and More
"*Financials would be provided on a best efforts basis for private companies"
17. Optical Pulse and Heart Rate Sensor Market -Appendix
17.1. Abbreviations
17.2. Sources
18. Optical Pulse and Heart Rate Sensor Market -Methodology Premium
18.1. Research Methodology
18.1.1. Company Expert Interviews
18.1.2. Industry Databases
18.1.3. Associations
18.1.4. Company News
18.1.5. Company Annual Reports
18.1.6. Application Trends
18.1.7. New Products and Product database
18.1.8. Company Transcripts
18.1.9. R&D Trends
18.1.10. Key Opinion Leaders Interviews
18.1.11. Supply and Demand Trends