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Blood Pressure Monitoring Devices Market 2024 - By Share, Size, Growth Analysis And Forecast To 2033
Blood Pressure Monitoring Devices Market
According to The Business Research Company's, The blood pressure monitoring devices market size has grown strongly in recent years. It will grow from $2.79 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing prevalence of hypertension, increasing focus on preventive healthcare, rise in lifestyle-related diseases, increased awareness of health and wellness, home healthcare trend.
The blood pressure monitoring devices market size is expected to see strong growth in the next few years. It will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to telehealth and remote patient monitoring, focus on precision medicine, government initiatives for chronic disease management, focus on patient-centric healthcare, rising healthcare awareness in emerging markets:. Major trends in the forecast period include wearable technology integration, bluetooth and wireless connectivity, focus on user experience and design, home blood pressure monitoringartificial intelligence in blood pressure analysis.
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Market Drivers and Trends:
The rising incidences of hypertension will boost the blood pressure monitoring devices market. Hypertension, also known as high blood pressure, is a medical condition in which the force of the blood against the walls of the arteries is consistently elevated, leading to increased pressure in the blood vessels. Healthcare providers and patients who seek to improve their ability to manage hypertension and reduce the risk of associated health complications use blood pressure monitoring devices. Thus, the need for accurate and reliable blood pressure monitoring devices to monitor and manage blood pressure levels regularly will positively impact the market. For instance, in March 2023, according to the World Health Organization, a Switzerland-based organization, an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension, most (two-thirds) living in low- and middle-income countries. Therefore, the rising incidences of hypertension are driving the growth of the blood pressure monitoring devices market.
Technological advancements are the key trends in the blood pressure monitoring devices market. Major companies operating in the blood pressure monitoring sector are focused on developing innovative technologies to sustain their position in the market. For instance, in November 2021, CardioX Corporation, a US-based diagnostic medical device company, launched Lana Patapava, a blood pressure estimation method that uses only an ECG (electrocardiogram) recorded by a wearable device without needing additional equipment. The technology is available via an AI (artificial intelligence)-powered mobile app, allowing users to import an ECG recorded by its wearable device and display blood pressure, heart rate, and HRV metrics. This technology allows users to track and manage their health parameters, such as heart rate and body temperature.
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Major Key Players of the Market:
Rossmax International Ltd.; Koninklijke Philips N.V.; SunTech Medical Inc.; Graham-field Health Products Inc.; Welch Allyn Inc.; Microlife Corporation; A&D Company Limited; Omron Corporation; Hill-Rom Services Inc.; American Diagnostic Corporation; Withings Health Solutions; Smiths Medical Inc.; Braun Healthcare; ICU Medical Inc.; Panasonic Corporation; Spacelabs Healthcare Inc.; Microlife AG; Schiller AG; BPL Medical Technologies; ForaCare Inc.; iHealth Labs Inc.; Qardio Inc.; Beurer GmbH; Citizen Systems Japan Co. Ltd.; Terumo Corporation; Vasomedical Inc.; Becton Dickinson and Company; Medtronic plc; Boston Scientific Corporation; Edwards Lifesciences Corporation
Blood Pressure Monitoring Devices Market 2024 Key Insights:
• The blood pressure monitoring devices market will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Blood Pressure Monitoring Devices Market Surge Amid Rising Hypertension Cases
• Technological Innovations Shaping The Blood Pressure Monitoring Devices Market
• North America was the largest region in the blood pressure monitoring devices market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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