According to Precedence Research, the global blood pressure monitoring devices market size is expected to be worth around US$ 2.66 billion by 2027 and growing at a CAGR 8.56% from 2022 to 2027.
According to Precedence Research, the global blood pressure monitoring devices market size is expected to be worth around US$ 2.66 billion by 2027 and growing at a CAGR 8.56% from 2022 to 2027.
Growth Factors
The market for blood pressure monitoring devices is increasing due to the rising number of cases of hypertension and high blood pressure around the globe. The growing geriatric population has boosted the market for blood pressure monitoring devices. The increased frequency of kidney and cardiac illnesses has propelled the demand for blood pressure monitoring devices. During the projected period, the market for blood pressure monitoring devices will expand as the prevalence of hypertension rises as a result of changing lifestyles. Due to the growing senior population and the increased risk of chronic illnesses among the worldwide population as a result of hectic lives and rising obesity, there is a significant demand for blood pressure monitoring devices.
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Many governments are setting limits and delaying elective surgery as a result of the outbreak. Patients are also more drawn to home care devices in the era of social communication, and there is a movement from hospital care to home settings. The home blood pressure monitoring devices include digital blood pressure monitors. They can accurately assess body temperature, heart issues, and blood pressure. As a result, the blood pressure monitoring devices market is expected to rise over the forecast period due to shift in customer preference for using blood pressure monitoring devices at home.
The key market players are constantly conducting research and development to improve the performance of these gadgets. Several versions of these blood pressure monitoring devices have been released on the market that have multi-user interface as well as average blood pressure readings for each user. Other factors driving the blood pressure monitoring devices market expansion include increased disposable incomes and healthcare spending, a growing preference for proactive monitoring and government initiatives promoting the benefits of home-based blood pressure monitoring devices.
Report Highlights:
- Based on the product, the digital blood pressure monitor segment dominated the market in 2020 with highest market share of 35.3%. The digital blood pressure monitor segment is expected to reach at US$ 969.6 million by 2027, witnessing a CAGR of 9.03% between 2021 and 2027.
- Based on the end use, the hospitals segment dominated the global blood pressure monitoring devices market in 2020 with highest market share 60.6%. The desire of cost-effective, quick, and accurate diagnostic tools for better health outcomes is driving the adoption of blood pressure monitoring devices on a large scale.
- North America is the largest segment for blood pressure monitoring devices market in terms of region. The North America region is expected to reach at US$ 977.3 million by 2027 and will hit at a CAGR of 8.03% between 2021 and 2027. The factors contributing to the market expansion in North America include the growing trend of mHealth and increased adoption of mobile based blood pressure monitoring systems.
- Asia-Pacific region is the fastest growing region in the blood pressure monitoring devicesmarket. The rising burden of chronic diseases such as high blood pressure, hypertension, and cardiovascular diseases, poor lifestyle choices, rising awareness of health and wellness, and the surge in demand for early disease diagnosis are key drivers driving the regional market growth.
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Future of Blood Pressure Monitoring Devices Market
Chronic diseases like hypertension and hyper blood pressure are on the rise all around the globe. Moreover, numerous governments and commercial healthcare organizations are actively promoting hypertension management awareness. This is leading to an increase in self-diagnosis and routine checkups among the general public, which is contributing towards the growth of the blood pressure monitoring devices market. As a result, the increased frequency of chronic diseases is posing future prospects for the blood pressure monitoring devices market in coming years.
COVID-19 Impact Analysis:
- The global blood pressure monitoring devices market has benefited from the COVID-19 epidemic. Several research studies have linked to existence of chronic disorders such as hypertension, to an increased severity of COVID-19 in patients.
- As a result, the general public’s focus on routine checkups as well as the patient population suffering with COVID-19 has increased, resulting in an increase in the usage of blood pressure monitoring devices.
Key Developments in the Marketplace:
- SunTech Medical Inc. introduced the SunTech CT50 at the 2017 MEDICA World Forum for Medicine in November 2017, which can assess blood pressure.
- Aktiia SA released a 24/7 automated blood pressure monitoring device in January 2021, which continuously monitors the patient’s blood pressure even when the patient is sleeping.
- Philips N.V. partnered with Rennes University Hospital in France in January 2021 to strengthen product portfolio in blood pressure monitoring devices.
- Hill-Rom Holdings Inc. purchased EarlySense’s contract free continuous technology in February 2021 with the goal of remotely monitoring patients.
Key Players:
- Koninklijke Philips N.V.
- Welch Allyn
- General Electric Company
- Withings
- A & D Company, Limited
- SunTech Medical, Inc.
- Microlife Corporation
- American Diagnostic Corporation
- Rossmax International Limited
- Briggs Healthcare
- Spacelabs Healthcare
- GF HEALTH PRODUCTS, INC.
- Kaz, A Helen of Troy Company
Segments Covered in the Report
By Product
- Digital Blood Pressure Monitor
- Wrist
- Arm
- Finger
- Sphygmomanometer
- Ambulatory Blood Pressure Monitor
- Instruments & Accessories
- Blood pressure cuffs
- Reusable
- Disposable
- Others
- Blood pressure cuffs
- Transducers
- Reusable
- Disposable
By End-User
- Ambulatory Surgical Centers & Clinics
- Hospitals
- Home Healthcare
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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