PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1522799
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1522799
Global Blood Pressure Monitors Market is valued approximately at USD 1.83 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 9.1% over the forecast period 2024-2032. Blood pressure monitors are essential devices used to measure and monitor blood pressure, aiding in the early detection and management of hypertension and other cardiovascular conditions. The increasing prevalence of cardiovascular diseases, coupled with rising healthcare expenditure in emerging markets, is driving the demand for blood pressure monitors. For instance, according to the World Health Organization (WHO), cardiovascular diseases claimed the lives of approximately 17.9 million individuals globally in 2019, with heart attacks and strokes accounting for 85% of these deaths. The growing awareness of the importance of regular blood pressure monitoring, especially in homecare settings, is further fueling the market growth.
The COVID-19 pandemic significantly impacted the global market, with increased demand for blood pressure monitors to monitor patients' vitals, including COVID-19 patients in emergency departments. Although the demand normalized post-pandemic, the market witnessed slower growth in 2021. The trend of home-based monitoring is gaining traction, driven by the need for frequent blood pressure checks to manage conditions like hypertension. The adoption of telehealth services and advancements in wearable digital blood pressure monitors are expected to bolster market growth. For instance, in January 2021, Aktiia SA launched a 24/7 automated blood pressure monitoring system that continuously monitors patients' blood pressure, even during sleep.
The global prevalence of cardiovascular disorders, along with the increasing geriatric population, is a major factor driving the demand for blood pressure monitors. According to the World Health Organization (WHO), an estimated 1.28 billion adults aged 30-79 years worldwide have hypertension, with two-thirds residing in low- and middle-income countries. The rising awareness and strategic initiatives by government bodies and organizations to promote the use of these devices are also contributing to market growth. For example, in October 2020, Omron Healthcare, Inc. launched two new products in Indonesia featuring advanced screening technology and Bluetooth wireless connectivity.
However, the high cost of advanced blood pressure monitors and the lack of awareness in emerging markets are hindering market growth. The limited validation and inaccuracy of some automatic and manual monitors also pose challenges to market adoption. For instance, a study published by the American Heart Association revealed that 93.4% of blood pressure monitors sold online in Australia were non-validated.
The key regions considered for the Global Blood Pressure Monitors Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Blood Pressure Monitors Market in terms of revenue. The market growth in the region is being attributed to factors including the increasing prevalence of hypertension in countries like the U.S. and Canada is driving the demand for these devices. Additionally, the significant presence of key market players such as Hill-Rom Holdings Inc. and Cardinal Health strengthens the region's leading market position. Whereas, the market in Europe is anticipated to grow at the fastest rate over the forecast period fueled by the growing prevalence of hypertension across European nations. This trend is fueling higher demand for blood pressure monitors.