Blood Pressure Monitoring Devices Market Is Likely To Fuel The Industry Growth By 2030

 Blood Pressure Monitoring Devices Industry Overview

The global blood pressure monitoring devices market is expected to reach USD 5.1 billion by 2030, expanding at a CAGR of 11.5% according to a new report by Grand View Research. The growing global geriatric population base is expected to widen the consumer base by triggering incidence rates of hypertension which is expected to drive the demand for blood pressure monitoring devices. The increasing incidence of hypertension has led to rising demand for cost-effective, rapid, and accurate diagnostic solutions. Blood pressure monitors are one of the vital sign monitors of life. The cost-effective and accurate results offered by these indicators is the factor responsible for rapid expansion in business scale.

Blood Pressure Monitoring Devices Market Segmentation

Grand View Research has segmented the global blood pressure monitoring devices market based on product, end-use, and region:

Based on the Product Insights, the market is segmented into Sphygmomanometer/Aneroid BP Monitor, Automated/Digital Blood Pressure Monitor, Ambulatory Blood Pressure Monitor, Transducers, Instruments and Accessories, and Others.

  • The aneroid BP monitors/ sphygmomanometers accounted for the largest market share at over 42.0% due to their growing demand in 2021. Technological advancements coupled with new product launches is expected to further fuel the demand for sphygmomanometers globally. For instance, in January 2017, Omron Healthcare, Inc. launched Omron EVOLV, a wireless, portable upper arm blood pressure monitor.
  • In addition, continuous technological improvements such as advances in wearable technology, apps, and mobiles in the consumer healthcare segment, the declining average selling price for retailers and manufacturers, and rising penetration in the professional market are the factors propelling expansion in the business.
  • Blood pressure cuffs are expected to grow at a significant rate over the forecast period due to the increasing usage of blood pressure monitors contributed by the growing incidence of high blood pressure. These cuffs are available in different sizes, according to the patient type. Two types of cuffs, disposable and reusable are available in the market. Amongst this, the disposable segment is anticipated to grow at a high CAGR due to the rising adoption of eco-friendly products and increasing concern regarding hospital-based cross-contamination events.

 

Based on the End-Use Insights, the market is segmented into Hospitals, Ambulatory Surgical Centers & Clinics, and Home Healthcare.

  • Hospitals & clinics, ambulatory surgical centers, and home healthcare are the end-use segments analyzed in the blood pressure monitoring devices market. The hospitals & clinics segment accounted for the largest revenue share as of 2021 due to the presence of a large patient pool. The adoption of BP monitoring devices is driven by the need for cost-effective, fast, and accurate diagnostic tools for better health outcomes.
  • Home healthcareis anticipated to exhibit a sturdy CAGR of around 12.6% over the forecast period. Cost efficiency of this alternate option for BP monitoring with the availability of smart wearables that offers mobility is expected to support the growth. Therefore, inclination towards independent living is expected to propel the home healthcare market. Ambulatory BP monitoring (ABMP) is used to measure out-of-office BP readings at specific time intervals, over a period of 24 hours. ABPM offers a better way to predict long-term cardiovascular disease outcomes.

 

Blood Pressure Monitoring Devices Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market is witnessing intense competition as it is price sensitive. The companies are adopting competitive strategies such as mergers & acquisitions, strategic alliances, collaborative agreements, and partnerships to sustain in the competition. The industry growth is directly associated with the rising investments by manufacturers in the development of cost-effective, innovative, and easy-to-use products. For example, in February 2019, PhysIQ Inc. and Omron Healthcare entered into a collaborative agreement for integrating HeartGuide wearable BP monitor of Omron into pinpointIQ platform used in outpatient facilities. Such initiatives are expected to present this market with lucrative opportunities.

Some prominent players in the global blood pressure monitoring devices market include.

  • Omron Healthcare Welch Allyn, Inc.
  • A&D Medical Inc.
  • American Diagnostic Corporation
  • Withings Briggs Healthcare
  • Philips Healthcare
  • Rossmax International Ltd.
  • GF Health Products Inc.
  • Spacelabs Helathcare Inc.
  • GE Healthcare
  • Kaz Inc.

 

Order a free sample PDF of the Blood Pressure Monitoring Devices Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Breast Pump and Breastfeeding Accessories Market Updates and Projections

  Breast Pump And Breastfeeding Accessories Industry Data Book | Forecast 2030 Breast Pump And Breastfeeding Accessories Industry Data Book - Breast Pump, Wearable Breast Pump & Breastfeeding Accessories Market Grand View Research’s breast pump & breastfeeding accessories industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.   Access the Global Breast Pump And Breastfeeding Accessories Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory ...
Read more

Spectrometry Sector: Emerging Technologies 2023-2030

  Spectrometry Industry | Forecast 2030 Spectrometry industry data book is a combination of the market data from five reports namely, spectrometry, mass spectrometry, NMR spectroscopy, near-infrared spectroscopy, and in-line UV-vis spectroscopy market. The market was valued at USD 17.4 billion in 2021 with a CAGR of 7.34% during 2022-2030. NMR spectroscopy market and Near-infrared Spectroscopy market are also growing at the CAGR of 5.1% and 6.08% respectively. The development of advanced spectrometry instruments and consumables is anticipated to create growth opportunities in this market and drive the market in the coming years.   Access the Global Spectrometry Industry Data Book, 2024 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies   Spectrometry holds significant potential in the near future o...
Read more

Endoscopy Devices Market Predicted to Witness Strong Growth from 2023 to 2030

  Endoscopy Devices Industry | Forecast 2030 The global endoscopy devices market was valued at USD 50.8 Billion in 2022 and is anticipated to grow at a CAGR of 7.5% over the forecast period. The market growth is attributed to the presence of cost-effective pre and post-procedures and increasing awareness regarding the minimal invasive properties of the devices. COVID-19 has impacted the market negatively as the number of endoscopic procedures reduced owing to the postponed and canceled elective and semi-urgent procedures. However, the increasing geriatric population, coupled with the rising burden of chronic diseases, is anticipated to drive the market. Furthermore, increasing the preference for disposable endoscopic equipment reduce the possibility of cross-contamination is anticipated to drive the market over the forecast period.   Access the Global Endoscopy Devices Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, ...
Read more