Ambulatory Blood Pressure Monitoring (ABPM) Devices Market By Product (Arm ABPM Devices, Wrist ABPM Devices), By End User (Hospitals, Ambulatory Surgical Centers (ASCs), Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global ambulatory blood pressure monitoring devices market was valued at $160.8 million in 2021, and is projected to reach $309.3 million by 2031, registering a CAGR of 6.7% from 2022 to 2031.
Ambulatory blood pressure monitoring (ABPM) devices are portable blood pressure recording devices used to record blood pressure readings during 24-hour period. These non-invasive instruments can be continuously carried by a patient in their own environment. The patient is connected to the ABPM device by a belt around his or her body and a cuff is placed around the upper arm. Patients can perform their daily task by wearing these monitoring devices as these devices are small and compatible in size. Blood pressure is one of the main risk factors for chronic heart disease and strokes, which are the leading cause of death around the world. This results in increase in importance of blood pressure monitoring devices in home care settings.
The major driver of the ABPM market includes rise in high demand for non-invasive method of measuring blood pressure, and initiatives taken by government such as launching various blood pressure monitoring programs for creating awareness among people to maintain their health. In addition, prominent players have adopted product development including product launches and approvals, as their key developmental strategies to expand their product portfolio. Moreover, reimbursement policies for blood pressure monitoring devices have fueled the demand for these products. For instance, Medicare offers reimbursement for ambulatory blood pressure monitoring (ABPM) devices used for a patient receiving blood dialysis at home or suffering from white coat hypertension. Moreover, high blood pressure is one of the most important risk factor for cardiovascular disease. High blood pressure can damage arteries which can decrease the flow of blood and oxygen to heart and cause heart disease. Approximately 54% of stroke and 47% of coronary heart diseases are attributable to high blood pressure. Thus, rise in number of cases of high blood pressure leads to increase in the demand for ambulatory blood pressure monitoring devices driving the growth of the market. Moreover, cardiovascular diseases (CVDs) are the leading causes of death globally, and it takes an estimated 17.9 million lives each year. According to the report by the British Heart Foundation, in 2021, a total of 7.6 million people live with heart & circulatory diseases and it causes about 25% death in the UK. Cardiovascular diseases are a group of disorders of the heart & blood vessels and include, coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Thus, rise in demand to measure the blood pressure continuously among patients with severe hypertension is expected to contribute toward the growth of the ambulatory blood pressure monitoring devices market.
Furthermore, rise in demand for remote patient monitoring is to fill the gaps in existing heart failure problems and increase in advancement in technologies such as mobile-based blood pressure monitoring systems are anticipated to drive the growth of the market. For instance, in June 2021, Biobeat has launched new cuffless ambulatory blood pressure monitoring device. This novel ABPM device also measures cardiac output, stoke volume, systemic vascular resistance, and heart rate of an individual’s health. In addition, in November 2021, Baxter International Inc., acquired Cheetah Medical, which is leading provider of non-invasive hemodynamic monitoring devices. This acquisition helped Baxter to expand its business in the specialized patient monitoring space. Thus, increase in number of product launches and acquisitions among key players propels the growth of the market.
According to the International Diabetes Federation, in 2021, approximately 537 million adults were living with diabetes. The total number of people living with diabetes is projected to increase to 643 million by 2045. Thus, shift of people toward sedentary lifestyle is increasing the incidence of diabetes and hypertension. This further propels the demand for portable monitoring devices, which is anticipated to foster the growth of the ambulatory blood patient monitoring devices market. In addition, there has been a continuous increase in the prevalence of cardiovascular diseases in China. As per the report published in the Journal of Geriatric Cardiology by Li-Yuan Ma, in China, in 2020, over 290 million individuals suffered from cardiovascular diseases and nearly 2 out of every 5 fatalities occurred due to cardiovascular disease. Therefore, rise in number of cardiovascular diseases results in increase in number of surgeries. This leads to increase in usage of ambulatory blood pressure monitoring devices for diagnosis that further boosts the growth of the market. In addition, according to World Health Organization, in 2019, approximately 1.28 billion people suffered from hypertension, which is the main cause of death. Thus, rise in number of cases of people suffering from hypertension leads to increase in the usage of ambulatory blood pressure monitoring devices. This, in turn, drives the growth of the market.
The demand for ambulatory blood pressure monitoring devices is expected to increase globally during market analysis, owing to rise in incidence of chronic diseases and rapid increase in geriatric population. Moreover, increase in healthcare expenditure in emerging economies and high demand for proactive monitoring are expected to provide new opportunities for market players. However, lack of awareness in developing regions is anticipated to hamper the market growth. In addition, Oscar 2 ambulatory blood pressure monitoring which is provide by SunTech Medical is used to measure accurate blood pressure in patients and is gaining immense popularity in the market. Thus, presence of innovative ambulatory blood pressure monitoring devices drives the growth of the market. The ambulatory blood pressure monitoring devices market is segmented into product, end user, and region. By product, it is bifurcated into arm and wrist ABPM devices. By end user, it is divided into hospitals, ambulatory surgical centers (ASCs), and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Baxter International Inc., Bosch+Sohn GmbH Co KG, BPL Ltd, Contec Medical Systems Co., Ltd, GE Healthcare, Halma Plc, Omron Corporation, OSI Systems Inc. (Spacelabs Healthcare Inc.), Schiller AG, and Vaso Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the ambulatory blood pressure monitoring (abpm) devices market analysis from 2021 to 2031 to identify the prevailing ambulatory blood pressure monitoring (abpm) devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the ambulatory blood pressure monitoring (abpm) devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global ambulatory blood pressure monitoring (abpm) devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
Arm ABPM Devices
Wrist ABPM Devices
By End User
Hospitals
Ambulatory Surgical Centers (ASCs)
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
BOSCH & SOHN GmbH & CO. KG
BPL LTD.
CONTEC MEDICAL SYSTEMS CO. LTD.
GE HEALTHCARE (A HEALTHCARE DIVISION OF GE COMPANY)
HALMA PLC.
BAXTER (HILL ROM HOLDINGS, INC.)
Omron Corporation
OSI Systems, Inc. (Spacelabs Healthcare, Inc.)
SCHILLER AG
VASO CORPORATION
Please Note: It will take 7-10 business days to complete the report upon order confirmation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook