Global Blood Pressure Monitoring Devices Market by Product (Sphygmomanometers/Aneroid BP Monitors, Ambulatory BP Monitors) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global blood pressure monitoring device market was valued at USD 1.45 billion in 2020. It is projected to grow at an annual compound growth rate (CAGR of 11.2%) between 2021 and 2028. The market is expected to grow at a compound annual growth rate (CAGR) of 11.2% between 2021 and 2028. This is due to rising hypertension incidences from changing lifestyles. According to estimates by the World Health Organization, around 1.15 billion people worldwide have hypertension in 2019. This is a leading cause of premature death. Due to increasing geriatric populations and increased risk of lifestyle-related disorders in large numbers of people due to obesity and sedentary lifestyles, the demand for BP monitors has never been greater.

The government's initiatives such as the public blood pressure monitoring program, which raises awareness and keeps the database of remotely operated BP monitors updated, are expected to drive growth over the forecast period. In February 2019, the American Medical Association (AMA) funded an activity called The Integrated Health Model Initiative, (IHMI), which provided data management models to help improve health outcomes.

The market will be driven by technological advances such as the mobile-based BP monitoring system and digital sphygmomanometer. The market is seeing positive growth due to improvements in blood pressure measurement devices. The benefits of wireless transmission and easy handling are driving the popularity of mobiles and wearable devices. Market growth is expected to be driven by new technologies like and mHealth. These technologies support treatment and medication compliance for patients with chronic diseases management. It allows for patient information and medication schedules to be tracked, as well as follow-up. These benefits are expected to drive market growth.

Home monitoring devices are in high demand due to the rising incidence of hypertension worldwide. The market is also growing due to the many benefits of automated devices like repeating blood pressure measurements to verify accuracy, and ban on mercury devices. The benefits of self-measurement devices such as monitoring, detection, control, and good quality are driving their popularity over the forecast period. There are many options for automated blood pressure monitors, such as arm, wrist and finger versions. They can be used to measure blood pressure.

Demand will continue to grow with new product launches and technological advances. Hill-Rom, for example, launched Welch Allyn digital scales and home blood pressure monitors in the U.S. in May 2018. Market growth is expected to be boosted by a growing preference for home healthcare and awareness about the importance early diagnosis of hypertension or cardiac disease.

Product Insights

The sphygmomanometers/aneroid BP monitors accounted for the largest share of over 40.0% in 2020. The demand for sphygmomanometers will continue to grow due to technological advancements and new product launches. Omron EVOLV, which is a portable wireless upper-arm blood pressure monitor, was launched by Omron Healthcare, Inc. in January 2017. Due to its accuracy and ease-of-use, digital sphygmomanometers are expected to be in high demand over the next few years.

The market is also being driven by technological advancements such as wearable technology, apps and mobiles in consumer healthcare, a declining average selling price for manufacturers and retailers, and a rising penetration in professional markets. There are several technologically advanced digital BP monitors on the market: Microlife WatchBP Home A, QardioArm and LifeSource Advanced one step auto inflate bloodpressure monitors.

The increasing use of blood pressure monitors is expected to cause blood pressure cuffs to grow at an impressive rate during the forecast period. This is due to the rising incidence of high blood pressure. There are many sizes available depending on the patient's needs. There are two types of cuffs on the market: disposable and reusable. The disposable segment is expected to grow at a high rate of CAGR because of the increasing adoption and concern about cross-contamination in hospitals. Vancouver Coastal Health, a regional health authority, replaced its reusable blood pressure cuffs in July 2020 with disposable ones. This was done to reduce cross-contamination and COVID-19 spread, increasing disposable blood pressure cuff demand by its members.

End-use Insights

Due to the large patient base, the hospitals segment was the dominant market in 2020. The demand for accurate, cost-effective and fast diagnostic tools to improve health outcomes is driving the adoption of BP monitoring devices. The market analyzes the following end-use segments: hospitals, ambulatory surgery centers and clinics, as well as home healthcare.

Healthcare is expected to experience rapid growth during the forecast period. This segment is expected to grow due to the cost-efficiency and availability of smart wearables with mobility that allow for BP monitoring. The home healthcare segment is expected to grow because of the growing desire for independent living.

Due to the widespread spread of COVID-19, there was a significant increase in demand for in-home healthcare management services in 2020. Omron's report reveals that its home healthcare business saw an increase in demand for blood pressure monitors and thermometers during the pandemic.

Regional Insights

North America accounted for the highest revenue share at more than 45.0% in 2020, due to its highly-regulated and developed healthcare system. The future growth of the regional market will be supported by increased investments in accurate and efficient BP monitors.

Market growth will also be driven by new product launches and technological advances. Hill-Rom, for example, launched Welch Allyn digital scales and home blood pressure monitors in the U.S. in May 2018. Market growth is expected to be further boosted by a growing preference for home healthcare and awareness about the importance early diagnosis of hypertension or cardiac disease.

Asia Pacific is projected to grow rapidly due to untapped opportunities, increased investments by manufacturers and growing awareness about hypertension. The key factors driving regional market growth are rapid improvement in healthcare and rising numbers of undiagnosed high BP cases that remain untreated.

The lucrative growth of this market is further supported by government initiatives to increase awareness and a rapidly expanding target disease population. In May 2018, the Indian Council of Medical Research, (ICMR), along with the Public Health Foundation of India launched a campaign called "May Measurement Month 2018." This campaign aimed at raising awareness about blood pressure, which is the most common cause of death and morbidity in India.

Market Share Insights & Key Companies

As the market becomes more price sensitive, there is intense competition. To withstand competition, companies adopt competitive strategies such as mergers and acquisitions, strategic alliances or collaborative agreements. In order to grow the industry, manufacturers are investing in developing cost-effective, innovative and simple products. In February 2019, Omron Healthcare and PhysIQ Inc. entered into a collaboration agreement to integrate the Omron HeartGuide wearable BP monitor into the pinpointIQ platform that is used in outpatient facilities. These initiatives will provide lucrative opportunities for the market. The following are some of the major players in the global market for blood pressure monitoring devices:

• Koninklijke Philips N.V.

• General Electric Company

• A & D Company Limited

• Welch Allyn

• SunTech Medical, Inc.

• American Diagnostic Corporation

• Withings

• Briggs Healthcare

• Spacelabs Healthcare

• Kaz, A Helen of Troy Company

• GF HEALTH PRODUCTS INC.

• Microlife Corporation

• Rossmax International Limited

• Omron Healthcare, Inc.

Up Market Research published a new report titled “Blood Pressure Monitoring Devices Market research report which is segmented by Product (Sphygmomanometers/Aneroid BP Monitors, Ambulatory BP Monitors), By Players/Companies Welch Allyn, Briggs Healthcare, GF HEALTH PRODUCTS INC, SunTech Medical Inc, A & D Company Limited, Kaz A Helen of Troy Company, Omron Healthcare Inc, Microlife Corporation, Withings, General Electric Company, Spacelabs Healthcare, Koninklijke Philips NV, American Diagnostic Corporation, Rossmax International Limited”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Blood Pressure Monitoring Devices Market Report Segments:

The market is segmented by Product (Sphygmomanometers/Aneroid BP Monitors, Ambulatory BP Monitors).

Blood Pressure Monitoring Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Blood Pressure Monitoring Devices Market

Overview of the regional outlook of the Blood Pressure Monitoring Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Blood Pressure Monitoring Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Blood Pressure Monitoring Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Sphygmomanometers/Aneroid BP Monitors

                2. Ambulatory BP Monitors

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Blood Pressure Monitoring Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Blood Pressure Monitoring Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.