Blood Pressure Monitoring Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Blood Pressure Monitoring Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Blood Pressure Monitoring Devices Market by Product Type (Sphygmomanometers, Advanced Ambulatory Blood Pressure Monitoring, Automatic Blood Pressure Monitor, Professional Office Blood Pressure Monitor, and Others), End-User (Hospitals, Ambulatory Surgical Centers, Home-Care Settings, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of hypertension and the surge in geriatric population

The blood pressure monitoring devices market was valued at USD 1.04 billion in 2023, growing at a CAGR of 10.68% during the forecast period from 2024 to 2030 to reach USD 2.10 billion by 2030. The blood pressure monitoring devices market is witnessing a positive growth owing to various factors such as the increasing prevalence of hypertension, the surge in geriatric population, the increasing prevalence of cardiovascular disease, and technological advancements in the product offerings. Therefore, the market for blood pressure monitoring devices is estimated to grow during the forecast period from 2024 to 2030.

Blood Pressure Monitoring Devices Market Dynamics:

One of the main drivers of the blood pressure monitoring devices market is the increasing prevalence of hypertension. For instance, according to the data published by World Health Organization (WHO) in August 2022, hypertension affects an estimated 1.28 billion persons aged 30 to 79 globally in the last thirty years. Therefore, blood pressure monitoring devices are used to measure and manage blood pressure in people suffering from hypertension, this increases the demand for blood pressure monitoring devices, driving the blood pressure monitoring device's overall market growth during the forecast period 2024 to 2030.

Moreover, another key factor that is responsible for the growth of the blood pressure monitoring devices market is the surge in geriatric population. According to the WHO data published in October 2022, it was estimated that between the years 2015-2050 the number of individuals aged 60 and beyond will get doubled from 12-22% and will reach 2.1 billion by 2050. In addition, by 2030, one out of every six people in the world will age 60 years or above. The number of people aged 80 years or above is expected to get triple between 2020 and 2050 to reach 426 million population, as age increases the chances of suffering from cardiovascular diseases such as heart attack, congenital heart disease, coronary artery diseases, Aorta disease, and others also increases. Therefore, the rising geriatric population increases the demand for blood pressure monitoring devices, driving the market growth.

Therefore, the increasing prevalence of hypertension and the rising geriatric population increases the demand for blood pressure monitoring devices, which will surge the growth of the overall blood pressure monitoring devices market during the forecast period from 2024 to 2030

However, blood pressure monitors are sensitive to body position and do not give accurate readings, this can hamper the global blood pressure monitoring devices market growth

Blood Pressure Monitoring Devices Market Segment Analysis:

Blood Pressure Monitoring Devices Market by Product Type (Sphygmomanometers, Advanced Ambulatory Blood Pressure Monitoring, Automatic Blood Pressure Monitor, Professional Office Blood Pressure Monitor, and Others), End-User (Hospitals, Ambulatory Surgical Centers, Home-Care Settings, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the blood pressure monitoring devices market, advanced ambulatory blood pressure monitoring is expected to hold a significant revenue share in the year 2023. The key attributes driving the growth of the advanced ambulatory blood pressure monitoring devices market includes, ability to measure blood pressure continuously while the patient is sleeping, it eliminates interobserver variability, it monitor and collects blood pressure data which help to analyze the patient's overall state, and provides additional information about how changes in blood pressure may correlate with the patient's daily activities as well as sleep patterns.

Therefore, the benefits associated with advanced ambulatory blood pressure monitoring devices can increase the demand for blood pressure monitoring devices which could drive the growth of the overall global blood pressure monitoring devices market during the forecast period. However, technological advancement in the products and various strategic partnership between the market players is also driving the market growth.

For instance, In May 2022, Biobeat, a global pioneer in wearable remote patient monitoring solutions for the healthcare continuum, announced the launch of its new wearable and continuous ambulatory blood pressure monitoring (ABPM) device.

Therefore, such type of development activities in advanced ambulatory blood pressure monitoring devices in the product type segment would result in the rising demand for blood pressure monitoring devices which in turn would provide a conductive growth for the overall blood pressure monitoring devices market during the forecast 2024 to 2030.

North America is expected to dominate the overall Blood Pressure Monitoring Devices Market:

Among all the regions, North America is expected to dominate the global blood pressure monitoring devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. Factors such as the increasing prevalence of cardiovascular disease and technological advancements in the product offerings are expected to increase the demand for blood pressure monitoring devices in the North America market.

According per the latest data from the Centers for Disease Control and Prevention (CDC) 2022, heart disease kills over 659,000 individuals each year in the United States, accounting for one out of every four fatalities. According to the above mentioned source, in 2019, in the United states, 360,900 people died as a result of coronary heart disease, the most prevalent kind of heart disease. and around 18.2 million persons aged 20 and up were affected (about 6.7%) from the disease. Thus, the increasing prevalence of cardiovascular diseases will increase the demand for blood pressure monitoring devices, as they are used to monitor & manage blood pressure which could help to maintain heart health and reduces the rate of cardiovascular diseases. This increases the demand for blood pressure monitoring devices, which will drive the overall blood pressure monitoring device overall market forward over the forecast period (2024 to 2030).

Furthermore, another factor that is responsible for the growth of blood pressure monitoring devices market is the technological advancements in the blood pressure monitoring devices such as in automated blood pressure monitoring devices, it automatically collects 100 times more blood pressure data than previous monitors while also providing ten times more engagement. For instance, in January 2022, Aktiia, a swiss company announced plans to launch its automated 24/7 blood pressure monitor in the US.

Further, in January 2019, Omron Healthcare, personal heart health, and wellness technology firm, launched a wearable blood pressure monitoring device, HeartGuide, in the United States. Moreover, technological advancements in the product offerings of blood pressure monitoring devices will enhance the blood pressure monitoring devices demand, propelling the growth of blood pressure monitoring devices overall market.

Therefore, due to interplay of the various factors mentioned above, there will be high demand of blood pressure monitoring devices in the region, which would provide a conducive growth environment for the North American region in the blood pressure monitoring devices market.

Blood Pressure Monitoring Devices Market Key Players:

Some of the key market players operating in the blood pressure monitoring devices market include Koninklijke Philips N.V, General Electric Company, A&D Company, Hill-Rom Services Inc, American Diagnostic Corporation, Withings, Spacelabs Healthcare, Braun Healthcare, GF HEALTH PRODUCTS INC, Microlife Corporation, Rossmax International Ltd, OMRON Healthcare Inc, SCHILLER AG, Contec, Spengler, ICU Medical Inc, B. Braun Melsungen AG, Biobeat, Aktiia SA, Caretaker LLC and among others.

Recent Developmental Activities in the Blood Pressure Monitoring Devices:

In January 2022, ICU Medical Inc, a San Clemente, California-based company with global operations that develops, manufactures, and sells medical technologies used in vascular therapy, oncology, and critical care, announced that it has completed the acquisition of Smiths Medical, a leading global provider of medical devices, from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.

In November 2022, Aktiia, a swiss company, whose cuffless blood pressure monitor have been following for years, gained the CE Mark as a Class IIa medical device in Europe, and is now available for pre-order in the UK through the Aktiia website.

In September 2022, Caretaker Medical, MedTech Innovator, landed FDA clearance for its blood pressure and hemodynamic patient monitoring system VitalStream. The technology employs a low-pressure finger sensor and a wrist-worn device to constantly and noninvasively monitor a patient's blood pressure. The instrument may conduct ""spot-check"" tests remotely using artificial intelligence to gather blood pressure and hemodynamic data.

Key Takeaways from the Blood Pressure Monitoring Devices Market Report Study

Market size analysis for current blood pressure monitoring devices market (2023), and market forecast for 6 years (2024 to 2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years

Key companies dominating the blood pressure monitoring devices

Various opportunities are available for the other competitor in the blood pressure monitoring devices market space.

What are the top-performing segments in 2023? How these segments will perform in 2030.

Which are the top-performing regions and countries in the current blood pressure monitoring devices market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for blood pressure monitoring devices market growth in the coming future?

Target Audience who can be benefited from this Blood Pressure Monitoring Devices Market Report Study

Blood pressure monitoring devices providers

Research organizations and consulting companies

Blood pressure monitoring devices-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in blood pressure monitoring devices

Various end-users who want to know more about the blood pressure monitoring devices market and latest technological developments in the blood pressure monitoring devices

Frequently Asked Questions for Blood Pressure Monitoring Devices:

1. What are Blood Pressure Monitoring Devices?

Blood pressure monitoring devices are used to measure blood pressure. They give a critical baseline for blood pressure, which may be used to evaluate the risk of developing hypertension or other chronic conditions.

2. What is the market for Blood Pressure Monitoring Devices?

The blood pressure monitoring devices market was valued at USD 1.04 billion in 2023, growing at a CAGR of 10.68% during the forecast period from 2024 to 2030 to reach USD 2.10 billion by 2030.

3. What are the drivers for the Blood Pressure Monitoring Devices market?

The blood pressure monitoring devices market is witnessing a positive market growth owing to the factors such as the increasing prevalence of hypertension, the surge in geriatric population, the increasing prevalence of cardiovascular diseases, and technological advancements in the product offerings.

4. Who are the key players operating in the Blood Pressure Monitoring Devices market?

Some of the key market players operating in the blood pressure monitoring devices market include Koninklijke Philips N.V, General Electric Company, A&D Company, Hill-Rom Services Inc, American Diagnostic Corporation, Withings, Spacelabs Healthcare, Braun Healthcare, GF HEALTH PRODUCTS INC, Microlife Corporation, Rossmax International Ltd, OMRON Healthcare Inc, SCHILLER AG, Contec, Spengler, ICU Medical Inc, B. Braun Melsungen AG, Biobeat, Aktiia SA, Caretaker LLC, and among others.

5. Which region has the highest share in Blood Pressure Monitoring Devices Market?

North America is expected to dominate the blood pressure monitoring devices market. Factors contributing to the growth of blood pressure monitoring devices market in the North America region are the increasing prevalence of cardiovascular disease and technological advancements in the product offerings