USD 1.62 billion
Blood Pressure Monitoring Devices Market Size, Share, Growth Analysis, By Type(Sphygmomanometer, digital blood pressure monitors, ambulatory blood pressure monitors, and blood pressure instruments accessories), By End User(Hospitals & clinics, ambulatory surgical centres, homecare settings, and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2168 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|Tables:
65
|Figures:
75
Blood Pressure Monitoring Devices Market Insights
Blood Pressure Monitoring Devices Market size was valued at USD 1.62 billion in 2019 and is poised to grow from USD 1.79 billion in 2023 to USD 4.12 billion by 2031, growing at a CAGR of 10.93% in the forecast period (2024-2031).
The growth of the global market is attributed to rising prevalence of hypertension due to changing lifestyle. According to WHO, in 2019, about 1.28 billion people suffered from hypertension. In addition, increasing geriatric population, high demand for BP monitors, and sedentary lifestyles are the factors which propel the market growth. Increasing government initiatives such as public blood pressure monitoring programmes to create awareness among the people and maintain database created by remotely operational BP monitors is expected to fuel the market growth.
Increasing use of technologically advanced devices such as mobile-based BP monitoring systems and digital sphygmomanometer is expected to drive the market growth. Recently, wearable and portable devices gaining more popularity as it provides benefits such as wireless transmission of patient information and easy handling. Emergence of new technologies such as mHealth helps in tracking the patient’s health information, medication schedule, and follow up for the treatment is expected to boost the market growth. Self-monitoring devices gaining popularity during the forecast period as it provides benefits such as good monitoring, detection, and control are further anticipating the market growth.
US Blood Pressure Monitoring Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Digital BP monitors
Fastest Growth
Digital BP monitors
Growth Rate
10.93% CAGR
Global blood pressure maonitoring devices Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Blood Pressure Monitoring Devices Market Segmental Analysis
The Global Blood Pressure Monitoring Devices Market is segmented by product and end user. Based on product, the global Blood Pressure Monitoring Devices Market is segmented into sphygmomanometer, digital blood pressure monitors, ambulatory blood pressure monitors, and blood pressure instruments accessories. Based on end user, the global Blood Pressure Monitoring Devices Market is segmented into hospitals & clinics, ambulatory surgical centres, homecare settings, and others. By region, the Blood Pressure Monitoring Devices Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Blood Pressure Monitoring Devices Market Analysis by Product
The digital BP monitors is expected to dominate the global market during the forecast period due to technological innovations like the integration of ECG sensors in smartwatches. This device provides enhanced accuracy and precision and can easily be integrated with smart gadgets.
Sphygmomanometer segment is expected to account for significant share in the market due to its efficacy level and cost effectiveness. Further, ambulatory BP monitors is expected to register a significant CAGR due to rising adoption of these devices in ambulatory surgical centres in many developed countries such as the U.S, Germany, France, and the U.K.
Blood Pressure Monitoring Devices Market Analysis by End User
The hospital and clinics segment are expected to account for a largest revenue share during the forecast period. The growth of the segment is attributed to increasing prevalence of hypertension. The adoption of BP monitoring devices is increased in hospitals & clinics as it provides accurate, fast, and effective diagnostic. Governments increased their investment which influence hospital and clinics to adopt new technologies for early diagnosis.
Homecare settings is expected to grow at the fastest rate during the forecast period. The growth of the segment is attributed to increasing availability of smart wearables that provide mobility as well as cost efficient option for the homecare application. In addition, increasing incidences of high blood pressure along with rising disposable income are the factors which propel the market growth.
Global blood pressure monitoring device Market By product, 2021 (%)
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Blood Pressure Monitoring Devices Market Regional Insights
North America is expected to account for the largest revenue share during the forecast period due to presence of regulated and developed healthcare infrastructure. In addition, key players increased their investment in the development of accurate and effective BP monitors is a factor which propel the market growth. Moreover, new product launches along with technological advancements also boost market growth. For instance, in Feb 2020, Hillrom announced the commercial launch of new device-Welch Allyn Spot Vital Signs 4400- which is an easy-to-use next generation vital signs device used to improve hypertension detection in ambulatory & emergency department settings.
Asia Pacific is expected to grow at a rapid pace over the forecast period. The growth of the regional market is attributed to presence of untapped opportunities, increasing incidence of hypertension, increasing investment by manufacturers, growing awareness levels. In addition, rapidly increasing healthcare facilities and the increased number of undiagnosed & untreated cases of high BP are key factors attributing to this regional market growth. Governments supportive initiatives such as programme held on blood pressure monitoring devices to increased awareness among the people is further contributing to the market growth. For instance, in May 2018, The Indian Council of Medical Research was collaborated with the Public Health Foundation of India and launched “May Measurement Month 2018” campaign to spread awareness among the people about blood pressure.
Global blood pressure monitoring devices Market By Geography, 2021-2028
- Largest
- Fastest
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Blood Pressure Monitoring Devices Market Dynamics
Blood Pressure Monitoring Devices Market Drivers
Increasing Prevalence of Hypertension
- Hypertension is one of the major causes of deaths globally. The factors responsible for hypertension includes changing lifestyles with poor diet, lack of physical activity, alcohol consumption, and mental stress. According to survey of CDC, in 2018, about 4,94,873 deaths occurred in the U.S due to high blood pressure. Globally, in 2010, about third of the adults had hypertension and only 13.8% had blood pressure under control. Hence increasing prevalence of hypertension, increases the demand for effective and accurate blood pressure monitors which ultimately drives the blood pressure monitoring devices market.
Miniaturization of Blood Pressure Monitoring Devices
- The technological advancements in the wearable diagnostic medical devices such as wrist-type blood pressure monitors are easy and user- friendly tools for blood pressure measurements due to their small size and comprehensive technology. The manufacturers of blood pressure monitors increased their investment on R&D to design and manufacture compact devices. Increasing consumer that uses automatic blood pressure monitors and the trend of self-monitoring drive the market for small and handy devices.
Blood Pressure Monitoring Devices Market Restraint
High Cost of Technologically Advance Devices and Lack of Accuracy
- In some developing countries, the use of BP monitors is limited. Apart from this, the high cost of these devices is also restricting the adoption in these countries.
- Some automatic and manual monitors lack validation and accuracy that result into incorrect measurements. This factor decreases the adoption of these devices among the healthcare sector and the general population. For example, in 2020, American Heart Association, Inc. published that the evaluation of roughly 972 BP monitors sold on online platform in Australia revealed that 93.4% of these devices are non-validated.
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Blood Pressure Monitoring Devices Market Competitive Landscape
The blood pressure monitoring devices market is fragmented and competitive due to presence of large number of leading players in the global market and several small players in the regional market. Major players adopted strategic to expand their business in order to strengthen their position in the market. GE Healthcare, A&D Medical Inc., Incorporated, Omron Healthcare Inc., and Philips Healthcare are some of the key players currently dominating the blood pressure monitoring devices market.
Blood Pressure Monitoring Devices Market Top Player's Company Profiles
- Omron Healthcare, Inc.
- Welch Allyn (Hill-Rom)
- A&D Company, Limited
- GE Healthcare
- Philips Healthcare
- Smiths Medical, Inc.
- SunTech Medical, Inc.
- Spacelabs Healthcare, Inc.
- Schiller AG
- Rossmax International Ltd.
- BPL Medical Technologies
- CONTEC MEDICAL SYSTEMS CO., LTD.
- Withings
- American Diagnostic Corporation
- Beurer GmbH
- Microlife Corporation
- Briggs Healthcare
- CITIZEN SYSTEMS JAPAN CO., LTD.
- Terumo Corporation
- Nihon Kohden Corporation
Blood Pressure Monitoring Devices Market Recent Developments
- In Jan 2022, Omron Healthcare Inc., introduced its new remote patient monitoring services at the 2022 Consumer Electronics Show along with its connected blood pressure monitors and an advanced mobile app that is designed to support consumers.
- In May 2021, Biobeat announced the launch of its new wearable and continuous ambulatory blood pressure monitoring device.
Blood Pressure Monitoring Devices Key Market Trends
- One of the ongoing trends is the increasing shift from hospital care to home care. In response to this, majority of the key players such as Omron Healthcare and others are continuously introducing new BP monitors to full-fill the need of homecare patients. Another trend is the use of Bluetooth-enabled monitors- these devices having long battery life, having compact structure, and suitable for self-monitoring. These devices ensure the more thorough follow-up care for the patients and help to transfer the patient data to doctor.
Blood Pressure Monitoring Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global blood pressure monitoring devices market analysis, these devices are being adopted at a quicker rate as a result of variables including the increasing number of blood pressure patients, growing awareness about the need for blood pressure monitors, and the launch of technologically advanced devices by the key players. This is anticipated to further encourage the use of these devices and will, in turn, spur the market growth. The trend of self-monitoring devices and availability of Bluetooth-enabled devices also propel the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.62 billion |
| Market size value in 2031 | USD 4.12 billion |
| Growth Rate | 10.93% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Blood Pressure Monitoring Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Blood Pressure Monitoring Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Blood Pressure Monitoring Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blood Pressure Monitoring Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blood Pressure Monitoring Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Blood Pressure Monitoring Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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