Blood Pressure Monitoring Devices Market Forecasts to 2030 – Global Analysis By Product (Sphygmomanometer/Aneroid BP Monitors, Automated/Digital Blood Pressure Monitors and Other Product Types), By End User (Ambulatory Surgical Centers, Clinics, Home Heal

Blood Pressure Monitoring Devices Market Forecasts to 2030 – Global Analysis By Product (Sphygmomanometer/Aneroid BP Monitors, Automated/Digital Blood Pressure Monitors and Other Product Types), By End User (Ambulatory Surgical Centers, Clinics, Home Healthcare, Hospitals and Other End Users) and By Geography

According to Stratistics MRC, the Global Blood Pressure Monitoring Devices Market is accounted for $2.74 billion in 2023 and is expected to reach $4.61 billion by 2030 growing at a CAGR of 7.7% during the forecast period. Mercury sphygmomanometers are typically referred to as blood pressure monitoring devices. While the patient is seated next to a table and resting their arm on the table, an inflatable cuff attached to the blood pressure monitor is placed around their upper arm. Two numbers are typically used to represent this measurement, such as 120/80 millimeters of mercury (mm Hg). Systolic pressure denotes the pressure experienced when the heart contracts and pumps blood into the arteries. Diastolic pressure is the pressure experienced when the heart is at rest in between beats.

According to estimates published by the World Health Organization (WHO) in 2019, around 1.28 billion people around the globe have hypertension, which is a major cause of premature death worldwide.

Market Dynamics

Driver

Rising cardiovascular illnesses

Globally increasing rates of cardiovascular and chronic illnesses are a key factor driving the market for blood pressure monitoring devices. The demand for blood pressure monitors is increasing steadily as a result of the growing elderly population and the rising risk of lifestyle-related complications brought on by an increasingly sedentary and obese population. In addition, demographic trends like increased longevity will fuel the market over the coming years. Blood pressure monitoring devices play a crucial role in constantly monitoring patients' blood pressure and alerting doctors to any irregularities because hypertension causes premature deaths and should be managed well at a particular time. Therefore, market shares are growing significantly as a result of the increase in hypertension cases.

Restraint

Technological advancements in the medical sector

The market's slow expansion is being hampered by a lack of skilled technicians who can repair real-time applications' system failures. Another factor hindering the growth of the market is government's strict rules and regulations for approving new devices also limit the market expansion. Additionally, a lack of awareness in developing and, to a lesser extent, underdeveloped countries may limit the market expansion of blood pressure monitoring devices.

Opportunity

Technological advancements in the medical sector

The emergence of technological advancements in the medical field and novel products that are highly accurate and practical for end users presents growth opportunities for the market. The market is expanding as a result of the development of portable devices that are convenient to use anywhere. Additionally, in the modern era, the internet of things significantly contributes to patient wellness, which is also attributed to boosting the market for blood pressure monitoring devices.

Threat

Lack of standardization and excessive costs

The absence of standards and the somewhat high cost of some devices made with advanced features continue to be difficult conditions. The lack of trained physicians and low awareness in underdeveloped and, to some extent, developing countries, as well as the high cost of technological advancements, are additional potential hindrance to the overall growth of the global blood pressure monitoring devices market.

Covid-19 Impact

The COVID-19 pandemic has accelerated the adoption of remote healthcare, increasing the demand for home blood pressure monitoring devices. With more people avoiding healthcare facilities, these devices allow individuals to monitor their blood pressure from home, aiding in the management of chronic conditions. Telehealth consultations and remote monitoring have become essential, making digital and smartphone-integrated monitors more popular. The pandemic has underscored the importance of self-care and early detection, driving innovation and convenience in blood pressure monitoring technology during this period.

The sphygmomanometers segment is expected to be the largest during the forecast period

The segment for sphygmomanometers is predicted to hold the largest market share. This expansion is the result of the rapid global development of new products and technology. Aneroid gauges are undergoing explosive innovation. Moreover, the benefits of digital sphygmomanometers are multiplying because of their accurate results and simple use, which is further boosting the segment's growth.

The home healthcare segment is expected to have the highest CAGR during the forecast period

The home healthcare segment is anticipated to experience the highest CAGR growth over the course of the forecast period due to the rapidly expanding use of home healthcare and its excellent cost-effectiveness for in-home blood pressure monitoring. Therefore, by enabling people to regularly check their blood pressure and better manage their health, blood pressure monitoring devices play a crucial role in home healthcare. Overall, blood pressure monitoring devices in home healthcare offer useful information and tools for people to actively manage their health and collaborate with medical professionals to achieve better results and avoid complications related to blood pressure disorders.

Region with largest share

The market was dominated by North America in 2022, with the region holding the largest share, and it is anticipated that this trend will continue throughout the forecast period. This is attributed to an increase in the prevalence of hypertension, a rise in patient awareness of blood pressure monitoring devices that are affordable, and the availability of cutting-edge medical facilities in North American nations. Another primary factor anticipated to support the market expansion of BP monitoring devices in the upcoming years is the increase in investments in the development of accurate and efficient BP monitors.

Region with highest CAGR

Over the course of the forecast, Asia-Pacific is anticipated to experience the fastest CAGR growth. This is due to the existence of untapped opportunities, rising manufacturer investments, rising levels of awareness, and increasing rates of hypertension. The rising number of undiagnosed and untreated cases of high blood pressure and the quickly evolving healthcare infrastructure are the main drivers of regional market expansion. Moreover, government initiatives that support public education campaigns and a rapidly expanding patient base with the target disease are also boosting the market in this region.

Key players in the market

Some of the key players in Blood Pressure Monitoring Devices Market include A&D Medical Inc, Abbott Laboratories, American Diagnostics Corporation, Bio-Rad Laboratories, Inc., Briggs Healthcare, Contec Medical Systems Co., Ltd., Epigenetics AG, F. Hoffmann-La Roche Ltd., GE Healthcare, GF Health Products Inc., Halma plc., Hill-Rom Services Inc., Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Microlife Corporation, Omron Healthcare Inc, Qiagen, Rossmax International Ltd, Siemens Healthineers AG, Spacelabs Healthcare, SunTech Medical, Inc., Thermo Fisher Scientific, Inc., Welch Allyn and Withings.

Key Developments

In August 2023, Bio-Rad Laboratories, Inc., a global leader in life science research and clinical diagnostic products, announced today that it has reached an agreement to acquire all of the outstanding shares of Curiosity Diagnostics, Sp. Z. o. o. from Scope Fluidics, S.A. a Warsaw, Poland, based developer of innovative technology solutions for the medical diagnostic and healthcare markets, for a total consideration of up to $170 million, consisting of approximately $100 million in cash, and up to $70 million in future milestone payments.

In July 2023, Bio-Rad Laboratories, Inc. and QIAGEN N.V announced that the companies have agreed to settle their patent dispute pending in the U.S. District Court of Delaware pursuant to a global settlement and patent cross-licensing agreement relating to digital PCR technology. The settlement provides for a cross-licensing agreement between Bio-Rad and QIAGEN granting each company mutual rights to their respective digital PCR technologies.

In July 2023, Epigenomics AG and New Day Diagnostics LLC, a U.S. full-service diagnostics and CRO services company based in Knoxville, Tennessee, today entered into an agreement for the sale of substantially all of the Company’s assets. This agreement is the result of negotiations previously disclosed in the ad hoc announcement dated June 12, 2023.

Product Types Covered
• Sphygmomanometer/Aneroid BP Monitors
• Automated/Digital Blood Pressure Monitors
• Ambulatory Blood Pressure Monitors
• Transducers
• Instruments and Accessories
• Other Product Types

End Users Covered
• Ambulatory Surgical Centers
• Clinics
• Home Healthcare
• Hospitals
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements