Home Blood Pressure Monitoring Devices Market: Launch of New Advanced Home BP Monitors to Drive Market
Transparency Market Research (TMR) has published a new report on the home blood pressure monitoring devices market for the forecast period of 2019–2027. According to the report, the global home blood pressure monitoring devices market was valued at ~ US$ 1 Bn in 2018, and is projected to expand at a CAGR of ~ 6% from 2019 to 2027.
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Global Home Blood Pressure Monitoring Devices Market: Overview
- Blood pressure measurement is a way of measuring how much force is being exerted on the walls of the blood vessels when blood flows through them. The two basic measuring units of blood pressure are systolic and diastolic.
- A joint scientific statement from the American Heart Association, the American Society of Hypertension, and the Preventive Cardiovascular Nurses Association stated that, self-measurement of blood pressure at home has been shown to be useful in eliminating the white coat effect, and multiple readings can be taken over a prolonged period of time.
- Growth of the global home blood pressure measurement market is attributed to the rise in the awareness about the advantages of self-measurement through several campaigns, such as 'Because I Say So', and the availability of affordable blood pressure monitors at online stores.
- North America dominated the global home blood pressure monitoring devices market in 2018, and the trend is anticipated to continue during the forecast period. This is attributed to the larger user base of new advanced products such as wrist monitors, which come at a high price.
- However, the increase in the number of local manufacturers that is creating a pricing pressure in the market is likely to hamper the growth of the global home blood pressure monitors market in North America in the latter half of the forecast period. Asia Pacific is expected to be a highly lucrative market for home blood pressure monitors during the forecast period.
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Rise in Awareness about Advantages of Home BP Machines and Launch of New Advanced Home BP Monitors to Drive Market
- Technological advancements in the field of healthcare has brought about significant changes in health care diagnostics, treatment, and clinical research & development. This is a major factor driving the global home blood pressure monitoring devices market.
- Developments in digital blood pressure monitors which help to connect the devices and send data directly to a doctor have led to new monitoring techniques for better treatment.
- New wearable blood pressure monitors such as HeartGuide, where patients can keep a close watch on their blood pressure anytime and anywhere, are helpful in preventing heart diseases and strokes. Hence, technological developments in blood pressure monitors are propelling the global home blood pressure monitoring devices market.
- Additionally, rise in the awareness about advantages such as reduction in white coat effect of self-measurement or home blood pressure measurement through various campaigns conducted by the International Society of Hypertension increases the number of users of home blood pressure monitors.
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Upper Arm Monitor Reagents to Dominate Market
- In terms of product, the global home blood pressure monitoring devices market has been classified into upper arm monitors, wrist monitors, and accessories. The upper arm monitors segment dominated the global home blood pressure monitoring devices market in 2018, and the trend is likely to continue during the forecast period because of the high patient preference for these devices due to an easy operating mode.
Online Stores to be a Promising Distribution Channel
- In terms of distribution channel, the global home blood pressure monitoring devices market has been divided into hospital pharmacies, retail pharmacies, online stores, and others (distributor, departmental stores, etc.)
- The online stores segment is expected to be a highly lucrative segment of the global home blood pressure monitoring devices market during the forecast period. The segment is likely to be driven by the availability of a wide range of blood pressure monitors and low pricing.
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Blood Pressure Monitoring Devices Market: Competitive Landscape
- OMRON Corporation, A&D Company, Limited, Beurer GmbH, and Hill-Rom, Inc. are the leading players in the global home blood pressure monitoring devices market, and hold a majority market share.
- The global home blood pressure monitoring devices market is fragmented in terms of number of players. Key players in the global home blood pressure monitoring devices market include OMRON Corporation, A&D Company, Limited, Hill-Rom, Inc., SunTech Medical, Inc., Rossmax International Ltd., Qardio, Inc., Koninklijke Philips N.V., Beurer GmbH, Spengler SAS, and American Diagnostic Corporation. Wide distribution network, new product development, and mergers & acquisitions are the key strategies followed by these major players to gain a competitive advantage in the global home blood pressure monitoring devices market.
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