The global blood pressure monitoring devices market size accounted for 1.77 billion in 2022 and is expected to be worth around USD 4.12 billion by 2030 with a remarkable CAGR of 10.93% between 2022 and 2030.
To measure blood pressure, people use a device called a blood pressure monitoring device or sphygmomanometer. It has an inflatable cuff and a device that measures the cuff’s pressure. The device is used to measure two pressures: systolic and diastolic. These devices are used to examine Hypertension in a person. Blood pressure is a significant risk factor for chronic heart diseases and strokes. High blood pressure is the leading cause of death across the globe.
The WHO published a report in 2019 which stated that around 1.28 billion people are suffering from Hypertension. This has even led to the death of many people suffering from Hypertension. Blood pressure monitoring devices were essential before the COVID-19 pandemic, and it is even more in demand now to measure a person’s blood pressure.
Various organizations, such as the American Heart Association and the American Society of Hypertension and the National Institute for Health and Care Excellence (NICE), highly recommend measuring blood pressure twice daily regularly for seven days, hence catalyzing the demand for blood pressure monitoring devices.
Active Pharmaceutical Ingredients Market Growth Factors
High blood pressure is widespread nowadays. This has resulted in the increasing adoption of blood pressure monitoring devices globally. Factors such as rising cases of cardiovascular diseases, such as cardiac arrhythmia, Hypertension, and growing diagnostic methods are positively influencing the market. There has been an escalating awareness of the cardiovascular disease among people.
This, along with the shifting inclination of patients towards home care settings, is boosting the demand for blood pressure monitoring devices. This is stimulating the growth opportunity of the market during the forecast period. There has been an increased usage of these devices for comorbidities diagnosis related to COVID-19.
The pandemic has positively impacted the blood pressure monitoring devices market. There has been the presence of comorbid conditions, including Hypertension, in the patients suffering from covid. Due to this, the patients suffering from Covid were strongly recommended by doctors to check their blood pressure daily at home using these devices. This has led to an increase in demand for these products. Besides, the government of various countries also emphasized the usage of blood pressure monitoring devices to control patients’ blood pressure during this pandemic.
Blood Pressure Monitoring Devices Market Report Scope
|Market Size In 2022||US$ 1.77 Billion|
|Market Size By 2030||US$ 4.12 Billion|
|Growth Rate From 2022 to 2030||CAGR of 10.93%|
|Forecast Period||2022 to 2030|
|Segments Covered||· Product Type
· End User
|Regions Covered||· North America
· Asia Pacific
· Latin America
· Middle East & Africa
Active Pharmaceutical Ingredients Market Report Highlights
- By product, aneroid BP monitors/ sphygmomanometers have dominated the market in 2022 with the most significant market share. This is due to the growing demand for this product in 2021, and this growth is expected to continue flourishing in the coming years. Rapid technological advancements are positively influencing the demand for sphygmomanometers globally. In addition, many new products are being launched by global market players. For instance, Omron Healthcare, Inc developed Omron EVOLV in 2017. It is a wireless, portable blood pressure monitoring device. Digital sphygmomanometers possess various benefits, such as accurate results and ease of use. This, in turn, is expected to exhibit a lucrative CAGR in the coming years. Furthermore, rapid technological advancements like wearable technology, apps, and mobiles and the growing proliferation in the professional market are other growth-inducing factors. On the other hand, blood pressure cuffs are expected to contribute to market growth in the coming years significantly. This is due to the widespread adoption of blood pressure monitoring devices and the increasing incidence of hypertension cases. There are two kinds of cuffs available in the market such as disposable and reusable. Due to the rising environmental concern, disposable cuffs are projected to grow at a high CAGR.
- By end-use, the hospitals & clinics segment is leading the market with the largest revenue share as of 2022. This growth can be attributed to the rising number of patients suffering from Hypertension and other chronic conditions resulting from high blood pressure. Blood monitoring devices are cost-effective, fast, and accurate. Owing to these advantages, these devices are widely adopted across the globe.
Based on the region, North America has dominated the blood pressure monitoring device market. It is expected to contribute further in the coming years. The number of patients with Hypertension is increasing swiftly across the region. For instance, as per a report, around 55 lakh people in Canada suffered from Hypertension in 2019. Owing to this, there has been a massive demand for blood pressure monitoring devices across the region. This, in turn, favours market growth. Furthermore, the strong presence of multiple market players positively influences market growth across North America.
This region holds the dominant position in the blood pressure monitoring devices market. Europe is expected to achieve a promising CAGR during the forecast period. This can be attributed to the growing number of people suffering from high blood pressure in European countries. This is resulting in a surging demand for blood pressure monitoring devices. To fulfil this demand, the market players are investing heavily in launching and developing these devices. For instance, Koninklijke Philips N.V. collaborated with Rennes University Hospital, France, in 2021 to boost the product offerings for blood pressure monitoring of patients.
On the other hand, Asia Pacific is expected to contribute to market growth in the coming years significantly. It has ranked second in revenue share in the blood pressure monitoring devices market. This growth is due to the increasing incidence of chronic diseases like Hypertension, cardiovascular diseases, and others. Hence the rising number of patients suffering from high blood pressure is supplementing the market growth across the region. Many key players in China, Japan, and others are boosting the market expansion. Latin America, the Middle East & Africa are expected to record moderate CAGR in the coming years. There have been certain factors which are limiting the growth across these regions. The factors include government or private players’ lack of reimbursement policies across these regions.
Active Pharmaceutical Ingredients Market Dynamics
Market Driver: Increasing prevalence of chronic conditions
There is an increasing prevalence of chronic diseases, including Hypertension. For instance, in 2020, a report was published by the Pan American Health Organization, which stated that 30% of the world’s geriatric population suffered from Hypertension issues. Furthermore, the government across various countries and private players worldwide are strongly raising awareness about the effective management of high blood pressure.
This makes people aware and highly motivated to do routine blood pressure monitoring at home. This, in turn, has resulted in increasing demand for blood pressure monitoring devices worldwide. Many new products are being launched by the market players, such as blood pressure monitoring devices with data transfer features via Bluetooth. The launch of these devices is increasing their adoption at home and also in hospitals across the globe.
Market Restraint: Expensive advanced devices
The use of advanced blood pressure monitoring devices is minimal, especially in developing countries. These devices are very expensive, restricting their adoption in these countries. For instance, the price of advanced blood pressure monitoring devices ranges from USD 40 to 60.
Furthermore, these devices have noticed different problems, such as a lack of validation and inaccuracy. This further limit the adoption of these devices at home and at the hospital. Thus, the high costs of blood monitoring devices are preventing these emerging economies from adopting new and advanced technology.
Market Opportunity: Increasing demand for disposable blood pressure transducers.
There has been a surging demand for disposable blood pressure transducers globally. It is used to relay details from a blood pressure monitoring catheter to a patient’s monitoring system. It possesses various advantages, such as solid structural integrity, extensive reliability, and air-ingress safety. These benefits offer tremendous growth potential for the demand for disposable blood pressure transducers. Advanced features in blood monitoring devices are strengthening the market growth.
With increasing technological advancements, market players are adding new features. Some features are heart rhythm monitoring, Bluetooth, colour codes for showing the need for monitoring etc. These features offer numerous opportunities for market growth.
Market Challenge: Inaccuracy and shortage of trained physicians
Factors such as the inaccuracy of blood pressure monitoring devices, the short lifespan, and the shortage of trained physicians hinder the market growth. There is a scarcity of qualified technicians to fix system failures in device applications, further hampering the market growth. Lack of standardization is another factor hindering market growth for blood pressure monitoring devices.
Furthermore, stringent regulations have been imposed by the government in approving the launch of these devices, which is challenging the market potential. Other factors, including the high cost of technological advancements, shortage of skilled physicians, and lack of awareness of these devices in underdeveloped countries, hamper the growth of blood pressure monitoring devices.
Key Developments in the Marketplace:
- In 2021, Hill-Rom Holdings, Inc. acquired the contact-free continuous technology from EarlySense to monitor patients remotely.
- In 2020, SunTech Medical, Inc. declared a collaboration with Valencell Inc., intending to develop new blood pressure monitoring solutions to enhance patient safety.
- In Feb 2022, InBody introduced the new BP 170 automatic blood pressure monitor, which allows individuals to self-record and track vital health metrics at home.
Active Pharmaceutical Ingredients Market Key Players:
- Koninklijke Philips N.V.
- General Electric Company
- A & D Company, Limited
- SunTech Medical, Inc.
- Welch Allyn
- American Diagnostic Corporation
- Briggs Healthcare
- Spacelabs Healthcare
- GF HEALTH PRODUCTS, INC.
- Kaz, A Helen of Troy Company
- Rossmax International Limited
- Microlife Corporation
- Digital Blood Pressure Monitor
- Ambulatory Blood Pressure Monitor
- Instruments & Accessories
- Blood pressure cuffs
- Blood pressure cuffs
- Ambulatory Surgical Centers & Clinics
- Home Healthcare
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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