Blood Pressure Monitors Market Size to Surpass USD 3.10 Billion in 2030, exhibiting a CAGR of 8.8%
Pune, India, July 31, 2023 (GLOBE NEWSWIRE) — The global blood pressure monitors market size was valued at USD 1.60 billion in 2022. The market is projected to grow from USD 1.73 billion in 2023 to USD 3.10 billion by 2030, exhibiting a CAGR of 8.8% during the forecast period.
Blood pressure (BP) variations or fluctuations are essential in diagnosing any chronic disease. In recent years, prominent players, consisting of Omron Healthcare, Inc., SunTech Medical Inc., and others, have introduced a variety of unique blood pressure monitoring devices not only for the detection of blood pressure but also to detect the vital signs, temperature, heart rate abnormalities, and more.
Fortune Business Insights™ mentioned this in a report titled “Blood Pressure Monitors Market, 2023-2030.”
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Key Industry Development:
February 2022: InBody Pvt. Ltd. introduced the launch of BP 170, an automatic blood pressure monitor. These blood pressure monitors allow individuals to self-record and track primary health metrics without visiting their doctor.
Key Takeaways:
- Increasing Usage of Blood Pressure Monitors for Diagnosis of Comorbidities Related to COVID-19 Boosted Market Growth
- Increasing Shift of Patients from Hospital Care to Home Care Settings is an On-going Trend
- Rising Prevalence of Chronic Diseases to Propel Market Growth
- High Cost of Advanced Devices to Limit Adoption Worldwide
- Diversified Product Launches by Players to Lead to Their Dominance
List of Key Market Players Profiled in the Report:
- Omron Healthcare, Inc. (Japan)
- Hill-Rom Holdings, Inc. (U.S.)
- Nihon Kohden Corporation (Japan)
- Koninklijke Philips N.V. (Netherlands)
- Masimo (U.S.)
- Beurer GmbH (Germany)
- GE Healthcare (General Electric Company) (U.S.)
- American Diagnostic Corporation (Europe)
- SunTech Medical, Inc. (U.S.)
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 8.8% |
| 2030 Value Projection | USD 3.10 Billion |
| Base Year | 2022 |
| Blood Pressure Monitors Market Size in 2022 | USD 1.73 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 117 |
| Segments covered | By Product, End User and Regional |
Drivers & Restraints:
Increasing Occurrence of Chronic Diseases to Drive Market Growth
Globally, the occurrence of chronic diseases, including hypertension, is growing rapidly. The government of different countries, as well as private healthcare organizations, are constantly promoting awareness of the effective management of hypertension. This leads to increased self-diagnosis processes and routine checkups among common people, resulting in the rising demand for BP monitors. Lack of inaccuracy and the validation of some automatic and manual monitors is resulting in incorrect measurements hence, restricting the blood pressure monitors market growth.
Segmentation:
Digital BP Monitors Segment Held the Largest Share with Introduction of Monitors with Advanced Features
On the basis of products, the market is segmented into sphygmomanometers, digital BP monitors, and ambulatory BP monitors. The digital blood pressure monitors segment held the highest blood pressure monitors market share due to the introduction of various monitors with advanced features in this segment.
Home Healthcare Segment Dominated Due to Rising Adoption of the Product
Based on end-user, the market is divided into home healthcare, hospitals & clinics, and others. The home healthcare segment dominated the market in 2022 due to adoption of blood pressure monitors. Among end-user, the home healthcare segment dominated
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Regional Insights:
North America Dominated the Market Owing to Rising Demand for Diagnostic Devices
North America dominated the market growth owing to increasing demand for diagnostic devices in the region. Moreover, the robust direct presence of key players, such as Hill-Rom Holdings Inc., in this region also allows it to hold the dominant market position.
Europe is estimated to register a steady CAGR during the projected period. This is due to the rising number of patient populations suffering from hypertension in European countries, resulting in an increased demand for these products.
Competitive Landscape:
Introduction of Various Products such as Omron Healthcare, Inc. to Lead to their Dominance
Omron Healthcare, Inc., Nihon Kohden Corporation, and Hill-Rom Holdings, Inc., are among the leading players in the global market. The introduction of advanced technology for blood pressure measurement and the acquisition of other market players to expand their product offerings are some of the significant factors primarily responsible for the dominance of these players.
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Table Of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Hypertension – by Key Countries/ Region
- Overview of New Product Launches
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Impact of COVID-19 on the Market
- Global Blood Pressure Monitors Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
- Sphygmomanometer
- Digital BP Monitors
- Ambulatory BP Monitors
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Product
- North America Blood Pressure Monitors Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
- Sphygmomanometer
- Digital BP Monitors
- Ambulatory BP Monitors
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Country
- Market Analysis, Insights and Forecast – By Product
- Europe Blood Pressure Monitors Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Product
- Sphygmomanometer
- Digital BP Monitors
- Ambulatory BP Monitors
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & Clinics
- Home Healthcare
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Market Analysis, Insights and Forecast – By Product
Toc Continue…
FAQs
How big is the Blood Pressure Monitors Market?
- The global blood pressure monitors market size was valued at USD 1.60 billion in 2022. The market is projected to grow from USD 1.73 billion in 2023 to USD 3.10 billion by 2030, exhibiting a CAGR of 8.8% during the forecast period.
Which are the key factors driving the Blood Pressure Monitors Market?
- The rising prevalence of chronic diseases, the introduction of technologically advanced monitors, and the growing awareness of this device among common people are the key drivers of the market.
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