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Global Blood Pressure Monitoring Devices Market to Reach US$ 3.6 Billion by 2024, Fostered by Increasing Prevalence of Hypertension

As per the latest report by IMARC Group, titled “Blood Pressure Monitoring Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global blood pressure monitoring devices market size reached US$ 2.6 Billion in 2018. Blood pressure (BP) monitoring devices are machines that are widely employed for measuring the blood pressure accurately. They comprise a pump, air pressure sensor and an inflatable cuff, which is placed on the left arm of an individual. At present, various portable, lightweight and inexpensive BP monitoring devices are available in the market. The bourgeoning demand for these devices can be attributed to the hectic and sedentary lifestyles of individuals and the increasing prevalence of hypertension around the world.

Global Blood Pressure Monitoring Devices Market Trends:

The growing awareness of the risks associated with hypertension represents one of the key factors impelling the demand for digital and portable BP monitoring devices worldwide. A severe case of hypertension can lead to stroke, cardiovascular disorders, and kidney failure. Apart from this, the leading manufacturers are heftily investing in research and development (R&D) activities to integrate improved technologies and enhance the overall performance of these devices. In line with this, numerous variants of these monitors are also being introduced in the market that offer multi-user interface, along with average blood pressure readings. Some of the other factors contributing to the market growth include inflating income levels, increasing healthcare expenditures, growing inclination toward proactive monitoring, and initiatives undertaken by the governments of numerous countries for generating awareness about the advantages of home-based BP devices. On account of these factors, the market value is anticipated to reach US$ 3.6 Billion by 2024, growing at a CAGR of around 6% during the forecast period (2019-2024).

Market Summary:

  • Based on the product type, monitors represent the most widely utilized product, followed by accessories. Monitors are further segmented into sphygmomanometers, automated BP monitors, ambulatory BP monitors, BP transducers, home-based BP monitors and others. On the other hand, accessories are segregated into blood pressure cuffs, manometers, valves and bladders, and others. Amongst these, sphygmomanometers exhibit a clear dominance in the market.
  • On the basis of the technology, the market has been classified into digital, aneroid and wearable devices.
  • The market has been analyzed on the basis of the end user into hospitals and clinics, ambulatory surgical centers, diagnostic centers, homecare settings, and others. At present, hospitals and clinics account for the majority of the total market share.
  • Region-wise, North America represents the largest market. Other major markets include Asia Pacific, Europe, Latin America, and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being A&D Australasia Pty Ltd., General Electric Company, Koninklijke Philips NV, Omron Healthcare, Inc., Welch Allyn, Inc., Rossmax International Limited, Spacelabs Healthcare Inc. (OSI Systems, Inc), Contec Medical System Co. Ltd., Microlife Corporation, Halma Plc., Hill-Rom Holdings, Inc., American Diagnostic Corporation, Smith’s Group Plc., Schiller AG and SunTech Medical, Inc.

 

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