Blood Pressure Monitoring Devices Market Expected to Reach $3.8 Billion by 2030

According to a new report published by Allied Market Research, titled, “Blood Pressure Monitoring Devices Market," The blood pressure monitoring devices market was valued at $2.2 billion in 2020, and is estimated to reach $3.8 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

Blood pressure monitoring devices are used to monitor a patient’s status prior to or during patient care. Blood pressure can be measured in a medical setting, at home, or at the site of medical emergency. The major driving factors of blood pressure monitoring market are rise in the aging population, change in the lifestyles, and emergence of advanced technologies.

Blood pressure is considered as one of the main risk factors for chronic heart diseases. Advanced blood pressure monitoring devices are used for regular remote monitoring and transmission of the blood pressure data to the physicians. Factors such as increase in geriatric population, rise in inclination toward at home BP monitoring, and upsurge in incidence rate of chronic diseases, such as cardiovascular disorders and obesity, which are expected to drive the blood pressure monitoring devices market trends. Moreover, innovations in blood pressure monitoring devices (such as introduction of digital blood pressure monitors) and rise in awareness among patients regarding advanced devices are expected to fuel the market growth. However, lack of awareness about these devices in low- and middle-income economies hampers the market growth.

On the basis of product type, the digital BP monitors segment in blood pressure monitoring devices market size is expected to dominate the blood pressure monitoring devices market share throughout the forecast period. In addition, this segment is anticipated to register the highest CAGR of 6.0% during the forecast period, this segment accounted for the major chunk of the market owing to the increase in the global incidence of hypertension. Digital BP monitors devices facilitate easy and early detection of a patient’s deteriorating health condition, thereby, enabling speedy intervention and diagnosis of diseases. However, the ambulatory BP monitoring devices at ambulatory surgical centers (ASCs) market is projected to be the fastest growing segment, owing to increase in the number of outpatient cases.

 On the basis of end user, hospitals segment accounted for more than 5.7% of the global market share in 2020 and is expected to remain dominant throughout the blood pressure monitoring devices market forecast period. This is attributed to presence of large patient pool.

Region wise, in blood pressure monitoring devices industry North America accounted for more than 5.6% of the global market share in 2020 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in prevalence of hypertension, growth in awareness among patients about cost-effective blood pressure monitoring devices, and availability of advanced healthcare facilities in North American countries. However, Asia-Pacific is expected to grow at the highest rate, owing to its high population base, incomes, and improvement in patient awareness about advanced blood pressure monitoring devices.

The major companies profiled in the report include A&D Company, Limited, Contec Medical Systems Co., Ltd., General Electric Company, Halma plc, Hill-Rom Holdings, Inc., Koninklijke Philips N.V., Masimo Corporation, Nihon Kohden Corporation, Omron Corporation, and Smiths Group Plc.

KEY FINDINGS OF THE STUDY

• By product type, the digital BP monitors segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 6.0% from 2021 to 2030.
• By End User, the hospitals segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 5.7% from 2021 to 2030.
• Region-wise, North America is expected to experience growth at the highest rate, registering a CAGR of 5.6% during the forecast period.