Dynamic Blood Pressure Monitor Market By Type (Wearable Blood Pressure Monitors, Wrist Monitors, Others) , By End User (Hospitals and Clinics, Home Healthcare, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Dynamic Blood Pressure Monitor Market
The dynamic blood pressure monitor market was valued at $1.1 billion in 2023 and is projected to reach $3.1 billion by 2033, growing at a CAGR of 10.9% from 2024 to 2033.
A dynamic blood pressure monitor is a medical equipment that measures the pressure of blood circulation by the heart into the body. Unlike conventional monitors, a dynamic blood pressure monitor measures and records the pressure at regular intervals for 24-48 hours. This results in the delivery of a comprehensive illustration of an individual’s blood pressure variations for the entire duration, facilitating precise detection of disorders and planning of personalized treatments.
Rapid changes in lifestyle and exponential increase in the aging population across the globe are the key drivers of the dynamic blood pressure monitor market. In addition, rise in the popularity of early detection & preventive care approaches fuels the demand for these monitors and propels the development of the market. In recent times, the emerging trend of digital therapeutics has driven the need for assimilation of these monitors with smartphone applications. This encourages patients to engage in treatment plans and proactively manage their fluctuating blood pressure. The assimilation further aligns with the telemedicine approach, accelerating the decision-making and enhancing the healthcare delivery procedure for patients.
However, lack of technological advancements in several healthcare facilities and private clinics deters the adoption of cutting-edge dynamic blood pressure monitors, hampering the development of the market. Moreover, the integration of wireless technologies poses concerns pertaining to data breaches and unauthorized access to sensitive information of patients. This limits the utility of the equipment and hampers the market growth. On the contrary, increase in expenditure on the healthcare infrastructure for the transformation of the industry is anticipated to open new avenues for the dynamic blood pressure monitor market. For instance, the 2023 global health expenditure report by the WHO states that healthcare expenditure reached the mark of US$ 9.8 trillion in 2021, covering 10.3% of the global GDP. Hence, constant efforts to drive the digital transformation of the healthcare industry are poised to present remunerative opportunities for the market.
Segment ReviewThe dynamic blood pressure monitor market is segmented into type, end user, and region. On the basis of type, the market is divided into wearable blood pressure monitors, wrist monitors, and others. Depending on end user, it is classified into hospitals & clinics, home healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the wearable blood pressure monitors segment is expected to dominate the market during the forecast period.
Depending on end user, the hospitals & clinics segment is projected to acquire a high stake in the market from 2024 to 2033.
Region wise, Asia-Pacific is anticipated to be the highest revenue generator by 2033.
Competition AnalysisThe major players in the global dynamic blood pressure monitor market include Contec, OMRON Corporation, SunTech Medical, Inc., OSI Systems, Inc., Koninklijke Philips N.V., Microlife Corporation, Norditalia Group S.r.l., Rudolf Riester GmbH, HINGMED, and Baxter International Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeWearable Blood Pressure Monitors
Wrist Monitors
Others
By End UserHospitals and Clinics
Home Healthcare
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersContec
OMRON Corporation
SunTech Medical, Inc.
OSI Systems, Inc.
Koninklijke Philips N.V.
Microlife Corporation
Norditalia Group S.r.l.
Rudolf Riester GmbH
HINGMED
Baxter International Inc.