Wearable Blood Pressure Monitor Market by Measurement (Arterial Tonometry, Oscillometric Method, Pulse Transit Time Method), Use (Arm, Wrist), Component, Indication, Distribution Channel, Application - Global Forecast 2024-2030

Wearable Blood Pressure Monitor Market by Measurement (Arterial Tonometry, Oscillometric Method, Pulse Transit Time Method), Use (Arm, Wrist), Component, Indication, Distribution Channel, Application - Global Forecast 2024-2030

The Wearable Blood Pressure Monitor Market size was estimated at USD 2.47 billion in 2023 and expected to reach USD 2.87 billion in 2024, at a CAGR 16.19% to reach USD 7.07 billion by 2030.

A wearable blood pressure monitor is a technologically advanced medical device designed for the continuous or periodic monitoring of blood pressure (BP) without requiring direct supervision by healthcare professionals. Unlike traditional BP monitoring devices, these wearable gadgets provide mobility convenience, enabling users to measure their blood pressure throughout the day during various activities, thus facilitating better hypertension management and cardiovascular health monitoring. The growth of the wearable blood pressure monitor market is propelled by the necessity of effective monitoring solutions for the rising prevalence of hypertension and cardiovascular diseases globally. Additionally, the increased awareness and preference for preventive healthcare measures among the general population further boost the adoption of these devices. Despite promising growth prospects, regulatory hurdles and the need for clinical validations pose challenges for manufacturers. The high cost of advanced models may also limit adoption among cost-sensitive consumers. However, the ongoing demand for home healthcare and remote patient monitoring systems opens vast avenues for growth. Furthermore, technological advancements in wearable technology, such as enhanced sensor accuracy and the integration with smart devices for real-time data analysis and feedback, present considerable opportunities for market penetration.

Regional Insights

In the Americas, wearable blood pressure monitors are being adopted rapidly owing to the high prevalence of cardiovascular diseases and the substantial adoption of advanced healthcare technologies. Additionally, local regulations and initiatives promoting preventive healthcare are further fostering the adoption of this technology. The Europe region, which is attributed to well-established healthcare systems and high awareness levels regarding hypertension management, shows a significant adoption of wearable blood pressure monitors. Middle Eastern countries are witnessing a surge in demand for wearable blood pressure monitors owing to lifestyle changes and increased healthcare investments, whereas Africa's market is showing potential growth opportunities, propelled by rising healthcare standards and a growing elderly population. APAC region is emerging as the fastest-growing market for wearable blood pressure monitors globally. Countries including China, Japan, and South Korea are at the forefront, benefiting from technological advancements, increasing disposable incomes, and governmental support for healthcare infrastructure development. Additionally, the region's large population base and growing awareness regarding hypertension management are significantly contributing to market expansion.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Wearable Blood Pressure Monitor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increase in Geriatric Population and Prevalence of Hypertension
• Growing Adoption of Wearable Blood Pressure Monitors in Home Healthcare
• Inclination of Athletes and Fitness Enthusiasts Towards Smart Wearable Health Metrics Monitoring Devices

Market Restraints

• Limited Accuracy of Wearable Blood Pressure Monitor Devices

Market Opportunities

• Technological Advancement in the Blood Pressure Monitoring Devices
• Surge in Online Purchase Patterns by Consumers

Market Challenges

• Privacy Concerns Regarding Transmitting Sensitive Patient Information

Market Segmentation Analysis

• Measurement: Higher preferences for oscillometric method offering a balance between accuracy and ease of use
• Application: Emerging potential of wearable blood pressure monitors in remote patient monitoring

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Wearable Blood Pressure Monitor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Wearable Blood Pressure Monitor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Sky Labs, Maker of Ring-Type BP monitor, Bags USD 15M Series C Funding

South Korean health tech startup Sky Labs has secured a Series C investment amounting to 20.7 billion WON (USD 15.3 million), led by the Korea Development Bank, with participation from K2 Investment Partners, Devsisters Ventures, SJG Partners, and OpenWater Investment, elevating its total funding to 54.8 billion WON (USD 40.5 million). Having previously introduced technology for atrial fibrillation detection and subsequently enhancing its device with oxygen saturation and blood pressure measurement features, the recent funding aims to fuel clinical research to meet the stringent standards of hypertension societies and regulators, thereby accelerating market entry and establishing strategic marketing and distribution collaborations.

Withings Health Solutions and Validic Partner on New Integration of Best-In-Class Cellular Smart Scales and Blood Pressure Monitors

Withings Health Solutions has partnered with Validic's healthcare IoT platform, leveraging Withings' pioneering cellular devices. This collaboration unites Withings' expertise in designing patient-centric, high-engagement connected health devices with Validic's extensive ecosystem, which streams vital health data from over 570 health and wearable devices. This integration notably introduces the Withings Body Pro and BPM Connect Pro into Validic's repertoire, equipping healthcare professionals with real-time, reliable patient-generated health data.

Rockley Photonics Completes Trials of Wearable Blood Pressure Monitor

Rockley Photonics has unveiled positive results from two Institutional Review Board (IRB)-approved trials, advancing the Alpha device towards commercialization. Following an initial pilot study in 2022, the most recent trials have showcased the device's effectiveness in monitoring blood pressure. One study involving 30 subjects demonstrated the device's ability to track blood pressure changes accurately within the range of -10 mmHg to +25 mmHg, adhering to FDA-recognized consensus standards, ISO 81060-2, and IEEE 1708, using Rockley's unique laser-based signal alongside a single-point calibration. Another longitudinal study assessed the device's precision over multiple visits up to 34 days, revealing its potential to meet the same respected accuracy standards, even amidst challenges like device placement variability.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Wearable Blood Pressure Monitor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Wearable Blood Pressure Monitor Market, highlighting leading vendors and their innovative profiles. These include Aktiia SA, Apple Inc., Asia Connection Co., Ltd., Beurer GmbH, Charmcare Co., Ltd., ChroniSense Medical, Ltd., Cofoe Medical Technology Co., Ltd., ForaCare Suisse AG, Garmin Ltd., General Electric Company, Google LLC by Alphabet Inc., Guangdong Transtek Medical Electronics Co., Ltd., Huawei Technologies Co., Ltd., ICU Medical, Inc., iHealth Labs Inc., Koninklijke Philips N.V., Koogeek Inc., LAICA S.p.A., Medline Industries, LP, Nokia Corporation, OMRON Corporation, Pyle Audio, Qardio, Inc., Saif Care, Samsung Electronics Co., Ltd., Sara Healthcare Pvt. Ltd., and Xiaomi Corporation.

Market Segmentation & Coverage

This research report categorizes the Wearable Blood Pressure Monitor Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Measurement
• Arterial Tonometry
• Oscillometric Method
• Pulse Transit Time Method
• Use
• Arm
• Wrist
• Component
• Battery
• Bluetooth IC
• Display
• Memory
• Processor
• Sensor
• Indication
• Hypertension
• Hypotension
• Irregular Heart Beat
• Distribution Channel
• Offline Mode
• Hypermarkets
• Pharmacies
• Online Mode
• Application
• Home Healthcare
• Remote Patient Monitoring
• Sports & Fitness
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year