The Blood Pressure Monitoring Devices Market is estimated to be valued at US$ 2 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Blood pressure monitoring devices are used to measure an individual’s blood pressure. These devices include arm cuffs, wrist cuffs, and finger clips. Arm cuffs are commonly used blood pressure monitoring devices that are placed around the bicep area. Wrist cuffs and finger clips are alternatives used to take blood pressure readings. Wireless blood pressure monitors allow users to wirelessly transmit and store blood pressure readings on mobile apps or online platforms for sharing with physicians. This remote monitoring capability enhances management of hypertension.
Growing geriatric population: The global elderly population is growing rapidly. According to the World Health Organization, the proportion of the world’s population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Hypertension is highly prevalent in the elderly population which is expected to propel the adoption of blood pressure monitoring devices.
Increasing awareness about hypertension: Non-government organizations and healthcare agencies are undertaking various initiatives to raise awareness about hypertension and its management. This is encouraging more number of people to opt for regular monitoring of blood pressure levels using home-use devices.
The blood pressure monitoring devices market is dominated by the upper arm segment with over 60% share due to its accuracy readings and comfort to patients. Upper arm blood pressure monitors provide readings that are on par with clinical auscultatory readings done by physicians and are considered the gold standard for measurement.
- Political: Regulations regarding accuracy and safety standards for blood pressure monitors are enforced by regulatory bodies which improves quality and trust in products.
- Economic: Rising healthcare costs have increased demand for self-monitoring devices to reduce hospital visits, benefitting market growth.
- Social: Growing health awareness and aging population prone to hypertension is driving self-monitoring to manage blood pressure levels regularly.
- Technological: Advanced features in devices like Bluetooth and wi-fi connectivity for data sharing and smartphone-compatibility have enhanced convenience.
The Global Blood Pressure Monitoring Devices Market Growth is expected to witness high, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of hypertension worldwide. The market size for 2023 is estimated to be US$ 2 Bn.
North America dominates the market currently due to supportive reimbursement policies and large presence of key players. Asia Pacific is expected to witness the highest growth rate owing to rising healthcare expenditures and growing medical device industry.
The key players operating in the blood pressure monitoring devices market are GE Healthcare, Koninklijke Philips N.V., Welch Allyn, Spacelabs Healthcare, A&D Company, Limited, SunTech Medical, Inc., OMRON Healthcare, Inc., American Diagnostic Corporation, Withings, Briggs Healthcare, Kaz, Inc., GF Health Products, Inc., Rossmax International Ltd. Players are focusing on product launches with advanced technologies and partnerships for geographical expansion.
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