Published: 2023 April 14

Blood Pressure Monitoring Devices Market Size, Competitive Landscape and Market Forecast - 2030

SKU : MD995
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180 pages
Report Summary
Table of Contents
List of Tables & Figures

Blood Pressure Monitoring Devices Market is segmented By Industry Analysis (Porter's Five Forces Analysis, Regulatory Analysis, Supply Chain Analysis, Pricing Analysis), By Product Type (Sphygmomanometers, Digital blood pressure monitors, ambulatory blood pressure monitors, Blood pressure transducers, Blood pressure instrument accessories)), By End-User (Home settings, Hospitals, Clinics, Ambulatory surgical centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

 

Blood Pressure Monitoring Devices Market Overview

[150 Pages Report] Blood Pressure Monitoring Devices Market size was valued USD 1.68 billion in 2021 and is estimated to reach USD3.5 billion by 2029, growing at a CAGR of 9.8% during the forecast period (2023-2030). Blood pressure monitoring devices are used to monitor hypertension, irregular heartbeat etc.

The demand for devices is expected to increase over the forecast period, as they can aid in the early diagnosis of hypertension. Also, advances in blood pressure monitoring devices designed for personal use may help to track the health condition of patients. The increased prevalence of hypertension is giving lucrative opportunities for the key players to manufacture blood pressure monitoring devices.

Blood Pressure Monitoring Devices Market Scope and Summary

Metrics

Details

Market CAGR

 9.8%

Segments Covered

By Industry Analysis, By Product Type, By End-User and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

 

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Blood Pressure Monitoring Devices Market Dynamics and trends

The growth of the market is majorly driven by increasing prevalence of blood pressure, increased number of government initiatives, technological advancements, increased number of the ageing population, and rising preference of consumers for home healthcare monitoring.

Increased number of government initiatives coupled with technological advancements are expected to drive market growth

According to the World Health Organization (WHO), in 2021, an estimated 1.28 billion adults aged 30-79 years worldwide will have hypertension, with most (two-thirds) living in low- and middle-income countries. It is estimated that this trend will continue to rise even in the forecast period, and the demand for monitoring blood pressure devices will experience substantial growth in the future. This surge in the geriatric population is expected to continue in all the other parts of the globe, giving rise to the number of cardiovascular disorders as the aged population is more prone to diseases and subsequently booming the market. For instance, according to data from World Population Prospects: the 2019 Revision, by 2050, one in six people in the world is anticipated to be over age 65. By 2050, one in four persons living in Europe and Northern America could be 65 or over. Technological advancements in hypertension monitoring are also increasing. For instance, in February 2022, InBody introduced the new BP 170 automatic blood pressure monitor, which allows individuals to self-record and track key health metrics at home. In addition, the rising adoption of home heart health monitoring coupled with awareness about the importance of early diagnosis of hypertension & cardiac diseases is further expected to boost the market growth.

One of the significant trends in the market is the development of smart phone apps for blood pressure monitoring that instantly synchronizes the data and shares it with doctors. For instance, Omron has developed the Omron Connect App, which syncs with Omron connected devices so that the consumers can store, track and share heart health data with their doctors for better treatment and better results.

The high cost associated with the treatment is one of the major factors hindering the growth of the market

However, less accuracy, the high cost for technological developments, lack of awareness in developed countries may hamper the blood pressure monitoring devices market growth. Digital blood pressure monitors are usually more expensive and sensitive. Even advanced devices may produce incorrect readings once in a while with certain people. Hence, there is a need to regularly counter-check the blood pressure with conventional blood pressure monitors in the hospital.

COVID-19 Impact on Blood Pressure Monitoring Devices Market

The whole healthcare sector has been impacted by COVID-19. High blood pressure variability (BPV) was consistently linked to in-hospital mortality in COVID-19 patients with hypertension, according to a study published in 2021 titled "Clinical implications of blood pressure variability in patients with COVID-19 and hypertension." Advanced age and systemic inflammation were negatively connected with high blood pressure fluctuation. Since COVID-19 causes frequent blood pressure swings, patients with high blood pressure and hypertension need special attention. Furthermore, the availability of face-to-face care in family practice has changed due to COVID-19, according to the report "The problems of monitoring blood pressure during COVID-19", published in 2021. The pandemic raised concerns about routine care's negative effects on controlling chronic diseases.

Industry Analysis

The global blood pressure monitoring devices market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, reimbursement analysis, supply chain analysis, pricing analysis, technological advancements etc.

Blood Pressure Monitoring Devices Market Segment Analysis

Digital blood monitors segment is expected to hold the largest market share in global blood pressure monitoring devices market

Digital blood monitors segment is expected to grow at a high rate over the period of forecast. This is owing to the high caliber functional ability and precise readings. Other added benefits like low cost and lesser time for diagnosis are likely to drive the segment in the global blood pressure monitoring devices market. Several technological advances in terms of device design, compatibility, high-quality and advanced products integrated with smartphones or mobile apps. For instance, The Omron 10 Series is a wireless option for medium to large arms. It features Bluetooth technology which makes it easy to track and manage the results from the Android or iOS device; also, it takes three consecutive readings automatically and shows the average of the readings. Others include Care Touch Fully Automatic Upper Arm Digital Blood Pressure Monitor, iProven Digital Automatic Blood Pressure Monitor Wrist, etc.

Blood Pressure Monitoring Devices Market Geographical Share

North America region holds the largest market share in the global blood pressure monitoring devices market

The significant market growth is anticipated to be in the North American area. This is due to the rising prevalence of hypertension in the area, recent introductions of blood pressure monitoring equipment, and government measures to prevent hypertension. According to the CDC, heart disease is the number one killer of men, women, and members of most racial and ethnic groups in the country. Cardiovascular disease claims one life in the United States every 34 seconds. In the United States, heart disease claimed the lives of around 697,000 people in 2020. The presence of government initiatives related to the prevention of hypertension leading to the increased demand for portable devices is anticipated to drive the market over the forecast period. For instance, Million Hearts is a national initiative co-led by the Centers for Disease Control and Prevention (CDC) and the Centers for Medicare & Medicaid Services (CMS). They have forecasted that their priorities for 2027 are building healthy communities and optimizing care through a single-minded focus on specific populations experiencing inequities.

Blood Pressure Monitoring Devices Companies and Competitive Landscape

Some of the key players in the global blood pressure monitoring devices market are GE Healthcare, Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American Diagnostics Corporation, Withings, Briggs Healthcare, Microlife AG, Masimo Corporation, Spacelabs Healthcare Inc., Omron Corporation and Philips Healthcare.

The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the blood pressure monitoring devices market globally. For instance,

On February 6, 2019, Omron Healthcare, Inc. and physIQ Inc. had a collaboration to integrate Omron's innovative FDA-cleared device, HeartGuide, the first wearable blood pressure monitors into the pinpointIQ platform to monitor at-risk patients in an outpatient setting.

Global Blood Pressure Monitoring Devices Market – Key Companies to Watch

GE Healthcare:

Overview: GE Healthcare is a subsidiary of American multinational conglomerate General Electric Company. GE Healthcare also manufactures medical diagnostic equipment, including CT image machines. Moreover, it develops Health technology for medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery, and biopharmaceutical manufacturing. The company is operated in more than 100 countries.

Product Portfolio: CARESCAPE V100 Vital Signs Monitor- It helps to ensure patient comfort, all while maintaining a high standard of clinical accuracy.

The global blood pressure monitoring devices market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.

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FAQ’s
What is the Blood Pressure Monitoring Devices Market growth?
The market is growing at a high CAGR of 9.8%
Who are the key players in Blood Pressure Monitoring Devices Market?
Some of the key players in the global blood pressure monitoring devices market are GE Healthcare, Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American Diagnostics Corporation, Withings, Briggs Healthcare, Microlife AG, Masimo Corporation, Spacelabs Healthcare Inc., Omron Corporation and Philips Healthcare.
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