Blood Pressure Monitoring Devices Market Size to Surpass US$ 2.66 Bn by 2027

Ottawa, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global blood pressure monitoring devices market size was reached at US$ 1.48 billion in 2020. The pulse within the arteries is measured using blood pressure monitoring devices. In the measurement and monitoring of hypertension, blood pressure monitoring devices play a critical role. The pulse-checking devices are quite accurate, allowing doctors and healthcare professionals to provide patients with appropriate treatment.

Due to the rising number of cases of high blood pressure around the world, the market for blood pressure monitoring devices is booming. The blood pressure monitoring devices market has been accelerated by the expanding geriatric population. The blood pressure monitoring devices market has been pushed by the rising incidence of kidney and heart diseases.

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The blood pressure monitoring devices market will grow during the forecast period as the incidence of hypertension rises as a result of changing lifestyles. The need for blood pressure monitoring devices is quite high, due to the growing senior population and the rising risk of chronic ailments across the global population as a result of hectic lifestyles and rising obesity.

Due to the huge number of market players, the blood pressure monitoring devices market is fragmented and competitive. The major blood pressure monitoring devices market players are currently concentrating their efforts on expanding their businesses in order to strengthen their market positions.

Blood Pressure Monitoring Devices Market Share, By Product Type, 2020 (%)

Report Highlights

Based on the product, the digital blood pressure monitor segment dominated the global blood pressure monitoring devices market in 2020 with highest market share 35.3%. RPM stands for remote patient monitoring, which is the measurement and analysis of a patient's health metrics such as vital signs, heart rate, blood glucose, temperature, and medication adherence without the patient being physically present in a clinical setting or with a healthcare practitioner. Wearables that continuously monitor health in a non-invasive, discrete, and seamless manner, while being both convenient and comfortable for the user, are currently moving away from the more dated ideas of wearables as connected blood pressure cuffs or heart rate monitors, and toward wearables that are continuously monitoring health in a non-invasive, discrete, and seamless manner, are currently moving away from the more dated ideas of wearables as connected blood pressure cuffs or heart rate monitors. Unnecessary trips to healthcare facilities will be eliminated as patients and caregivers are allowed to offer care at home, substantiating a decentralized healthcare model and improving resource allocation in hospitals and clinics.

The sphygmomanometers demand is predicted to grow as a result of technological improvements and new product releases around the world. Sphygmomanometers are devices that measure blood pressure, especially in arteries. A mercury column and a gauge with a dial face are the two types of sphygmomanometers. The most common sphygmomanometer in use today is a gauge attached to a rubber cuff placed around the upper arm and inflated to restrict the arteries.

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Based on the end use, the hospitals segment dominated the global blood pressure monitoring devices market in 2020 with highest market share 60.6%. The desire for quick, cost-effective, and accurate diagnostic tools for better health outcomes drive the use of blood pressure monitoring devices in the hospitals.

COVID-19 Landscape

The demand for blood pressure monitors in China, Europe, and Asia remained strong in fiscal 2019. Meanwhile, demand in Japan slowed due to a rise in the consumption tax and other factors, while demand in North America fell due to trade tensions between the US and China. COVID-19 had a global impact in the fourth quarter.

The global demand for blood pressure monitors and thermometers increased in 2020, as a result of the growing requirement for health management to combat COVID-19's effects. Furthermore, in light of the limits on non-essential travel outside the home, sales through online channels grew notably.

New challenges arose as a result of the COVID-19 epidemic, hastening the global adoption of telemedicine. Patients with hypertension, diabetes, or other chronic ailments, on the other hand, must attend hospitals or clinics frequently and receive ongoing care.

OMRON is working on a remote patient monitoring service that will allow patients to take their vital signs at home using our blood pressure monitor, ECG monitor, and/or body composition monitor with scale, and communicate the information with their doctors and nurses in real-time. This allows individuals to receive proper guidance from their physicians without having to leave their homes or attend a hospital. The company is focusing on proposing novel telemedicine approaches that are adaptable to the approaching "new normal."

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Regional Snapshot

North America region accounted largest revenue share with 38% in 2020. In the future years, increased investments in the development of precise and effective blood pressure monitors are likely to contribute to the North America blood pressure monitoring devices market growth. Major factors fueling the expansion of remote patient monitoring in the region include the region's rapidly rising senior population, high prevalence of chronic illnesses, and quick acceptance of telemedicine services in the United States and Canada. The recent COVID-19 pandemic has sparked a surge in demand for remote patient monitoring devices. For example, the United States had more than 1.8 million coronavirus infections and about 105,000 deaths as of June 2020, whereas Canada had 93,000 cases and approximately 7,400 deaths owing to coronavirus.

The region's high frequency of infectious diseases has fueled demand for teleconsultation. Remote patient monitoring may be a particularly effective and valuable method of treatment as our healthcare system strives to combat COVID-19. During a pandemic like COVID-19, clinicians can use remote patient monitoring devices to track blood pressure, heart rate, temperature, pulmonary function, and other pertinent physiology for changes in a patient's condition and symptom development.

According to the Population Reference Bureau, the number of individuals aged 65 and above is projected to nearly double from 52 million in 2018 to 95 million by 2060. The surging geriatric population is susceptible to diabetes, and chronic disorders. Thus, there is high demand for portable and wireless gadgets both among patients and caregivers. Moreover, the region also houses some of the largest market participants, hence giving early bird advantage to North America.

Blood Pressure Monitoring Devices Market Share, By Region, 2020 (%)

Asia-Pacific is the fastest growing region in the blood pressure monitoring devices market. This is attributed to the presence of untapped markets, rising consumer awareness levels, increased research and development investments, and rising hypertension incidences, the Asia-Pacific is predicted to develop at a quick rate over the projection period. The rapid improvement of healthcare facilities, as well as the rising number of untreated and undiagnosed instances of blood pressure, is driving the Asia-Pacific blood pressure monitoring devices market growth.

Market Dynamics

Drivers

Shift in consumer preferences

The governments of many countries are enforcing restrictions due to pandemic in various places and postponing elective surgery. Also, in the era of community transmission, patients are more drawn towards home care equipment, and a shift from hospital care to home settings is noted. The digital blood pressure monitoring devices are examples of these kind of devices. They have ability to precisely measure body temperature, blood pressure, and cardiac problems. As a result, the shift in consumer preference of using blood pressure monitoring devices at home is driving the market growth during the forecast period.

Restraints

High cost of blood pressure monitoring devices

The use of blood pressure monitoring devices is quite limited in many poor or underdeveloped nations. Aside from that, the massive costs of the blood pressure monitoring devices are preventing these countries from adopting new and advanced technology. Thus, the high cost of blood pressure monitoring devices is limiting the market growth during the forecast period.

Opportunities

Rising prevalence of chronic disorders

The chronic disorders such as hypertension are becoming more common around the world. Furthermore, the governments of various nations, as well as private healthcare organizations, are constantly promoting hypertension management awareness. This is leading to a rise in self-diagnosis and routine checkups among the general public, which is driving the demand for blood pressure monitoring devices in the market. As a result, the rising prevalence of chronic disorders is creating lucrative opportunities for the growth of the blood pressure monitoring devices market during the forecast period.

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Challenges

Shortage of skilled technicians

The scarcity of skilled professionals or technicians is huge challenge for the growth of the blood pressure monitoring devices market. The highly skilled technicians provide instant solutions. They are capable of resolving issues related to technology. Thus, the shortage of skilled technicians is hindering the market growth for blood pressure monitoring devices over the forecast period.

By Product

• Digital Blood Pressure Monitor
  • Wrist
  • Arm
  • Finger
• Sphygmomanometer
• Ambulatory Blood Pressure Monitor
• Instruments & Accessories
  • Blood pressure cuffs
    • Reusable
    • Disposable
  • Others
• Transducers
  • Reusable
  • Disposable

By End-User

• Ambulatory Surgical Centers & Clinics
• Hospitals
• Home Healthcare
  
  

By Regional Outlook

• North America
• Europe
• Asia Pacific
• MEA
• Latin America
  
  

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