by Blood pressure monitoring devices are used to measure blood pressure and detect abnormalities associated with cardiovascular health. These devices are easy-to-use and helps in self-monitoring of blood pressure on a regular basis. Blood pressure monitors range from upper arm monitors, wrist monitors, fingertip monitors to ambulatory and home monitoring devices. Upper arm monitors provide accurate readings and are widely used in clinics and hospitals. Wrist and fingertip monitors are portable and convenient for self-monitoring of blood pressure. Growing prevalence of hypertension is a key factor driving the demand for blood pressure monitoring devices for better management of the condition. According to World Health Organization, hypertension currently affects over 1.13 billion people worldwide. It is estimated that hypertension will affect more than 1.5 billion people by 2025.
The global Blood Pressure Monitoring Devices Market is estimated to be valued at US$ 2 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing prevalence of hypertension: As per the statistics provided above, growing prevalence of hypertension across the globe is a major factor propelling the demand for blood pressure monitoring devices. These devices help in tracking blood pressure levels regularly and aids in managing the condition effectively through lifestyle modifications and medications. This driver has been incorporated in the heading as well.
Portability and convenience: Development of portable and wearable blood pressure monitoring devices such as wrist monitors and fingertip monitors has boosted their adoption. These devices offer convenience of self-monitoring blood pressure anytime and anywhere. Devices connected through mobile apps provide added benefits of storage, analysis and sharing of blood pressure readings with physicians remotely. This factor is enhancing patient compliance in blood pressure monitoring.
Segment Analysis
The global blood pressure monitoring devices market is dominated by the arm cuff segment which holds around 80% of the total market share. Arm cuff devices are preferred for home use as well as in clinics due to their ease of use and accuracy. These devices provide reliable readings by inflating the cuff around the upper arm and deflating it slowly to detect blood pressure.
PEST Analysis
Political: Governments across countries are focused on improving healthcare facilities and promoting awareness about hypertension. Favorable reimbursement policies will also boost the adoption of blood pressure monitors.
Economic: Rising geriatric population afflicted by hypertension coupled with growing per capita healthcare expenditure is fueling the demand. However, pricing pressures and budgetary constraints in some markets may hamper the growth.
Social: Growing sedentary lifestyle among urban population coupled with unhealthy diets has increased the risk of developing high blood pressure. Rising health consciousness is prompting people to regularly check their blood pressure levels.
Technological: Manufacturers are focusing on the development of advanced oscillometric devices, Bluetooth enabled cuffs, and ambulatory monitors. Integration of technologies like AI and IoT enable remote monitoring and timely diagnosis of abnormalities.
Key Takeaways
The Global Blood Pressure Monitoring Devices Market Size is expected to witness high growth in the forecast period. The global blood pressure monitoring devices market is estimated to be valued at US$ 2 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis
North America accounts for over 40% revenue share owing to increasing healthcare expenditure and government initiatives to spread awareness about hypertension. Europe follows next with over 30% share led by Germany, U.K. and France with universal healthcare and focus on preventive healthcare. The Asia Pacific region is projected to witness fastest growth at a CAGR of 6% during the forecast period led by large population base in India and China and improving access to diagnostic services.
Key players
Key players operating in the blood pressure monitoring devices market are Rent the Runway, Poshmark, Elanic Services Private Limited, Dress & Go, GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Limited, and Secret Wardrobe. Rent the Runway primarily focuses on building designer dress rental marketplace in North America while Poshmark operates social marketplace for new and used consumer goods.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
