Blood pressure monitoring devices have witnessed increased adoption, owing to the growing prevalence of hypertension worldwide. These devices help measure an individual's blood pressure level and further aid doctors in the diagnosis and treatment of related health conditions.
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 rising elderly population is one of the key trends driving the growth of the blood pressure monitoring devices market. As per the United Nations, the population aged 60 years and above is expected to grow to nearly 2.1 billion by 2050 from 962 million in 2017. With age, the risks of numerous health issues such as hypertension increase significantly. This has boosted the demand for self-monitoring blood pressure devices worldwide. The proliferating online availability of these devices further supports their adoption among geriatric patients. Extended home monitoring allows for timely intervention and management of blood pressure levels, thereby improving health outcomes. This rising elderly population is thus expected to accelerate the demand for blood pressure monitoring devices during the forecast period.
Segment Analysis
The global blood pressure monitoring devices market is dominated by wrist devices sub segment. Wrist devices segment held around 35% of the total market share in 2023 owing to the ease of use and comfort associated with wrist blood pressure monitors. Wrist devices provide hassle free and accurate BP readings within a minute and don't require wearing an inflatable arm cuff. This has resulted in wide consumer acceptance and adoption of wrist blood pressure monitors globally.
Key Takeaways
The Global Blood Pressure Monitoring Devices Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing incidence of hypertension worldwide.
Regional analysis- North America dominates the global blood pressure monitoring devices market currently. Growing elderly population and increasing prevalence of cardiovascular diseases in the US and Canada is driving the demand for self-blood pressure monitoring devices in the region. Asia Pacific is expected to be the fastest growing market during the forecast period supported by large patient pool, rising healthcare spending and increasing awareness regarding blood pressure monitoring.
Key players- Rent the Runway, Poshmark, Elanic Services Private Limited, Dress & Go, GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Limited, and Secret Wardrobe operating in the blood pressure monitoring devices market. Key players such as Omron, A&D Company, Spacelabs Healthcare, GE Healthcare and Microlife are focused on launching innovative products to strengthen their market position.
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