by The blood pressure monitoring devices market caters to the demand for timely monitoring, diagnosis and management of hypertension which increases cardiac risks. Blood pressure monitoring devices help in continuous monitoring of blood pressure at home and transmit the readings to the clinics or hospitals through Bluetooth or Wi-Fi. This helps in timely diagnosis and intervention.
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 key trends:
The increasing adoption of home-based blood pressure monitoring is one of the key factors fueling the growth of the global blood pressure monitoring devices market during the forecast period. Home-based blood pressure monitoring devices enable flexible and continuous monitoring of blood pressure levels, which improves the management of hypertension. Additionally, it reduces hospital visits for routine check-ups, thus proving cost-effective for patients. Various technologically advanced blood pressure monitoring devices with smart connectivity options like Bluetooth and Wi-Fi are being launched, which allow monitoring of blood pressure on smartphones and sharing of reports with doctors and caregivers remotely. This rising demand for convenient and cost-effective home-based monitoring is estimated to drive the blood pressure monitoring devices market.
SWOT Analysis
Strength: Blood Pressure Monitoring Devices provide non-invasive and easy way to measure blood pressure from the comfort of home. This increases patient compliance for blood pressure check-ups.
Weakness: Some users may find the devices complicated and need training to use properly. Also periodic recalibration is required for accurate readings.
Opportunity: Growing geriatric population suffering from hypertension provides huge market potential. Also adoption of remote patient monitoring drives demand.
Threats: Competition from low-cost sphygmomanometers pose pricing pressure on established players. Stringent regulations for new product approvals may delay market entry.
Key Takeaways
The Global Blood Pressure Monitoring Devices Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach a size of US$ 2 Bn by 2023, growing at a CAGR of 4.8% through 2030.
Regional analysis: North America region currently dominates the market due to high awareness levels and widespread adoption of home healthcare devices. The Asia Pacific region is projected to be the fastest growing market during the forecast period owing to increasing aging population suffering from hypertension.
Key players operating in the blood pressure monitoring devices are Rent the Runway, Poshmark, Elanic Services Private Limited, Dress & Go, GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Limited, and Secret Wardrobe. These players are focused on new product launches and partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
