The global blood pressure monitoring devices market size is expected to be worth around US$ 5.50 billion by 2030, according to a new report by Vision Research Reports.
The global blood pressure monitoring devices market size was valued at US$ 3.28 billion in 2020 and is anticipated to grow at a CAGR of 12.4% during forecast period 2021 to 2030.
|Market Size||USD 5.50 billion by 2030|
|Growth Rate||CAGR of 12.4% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||General Electric Company; Koninklijke Philips N.V.; A & D Company, Limited; Welch Allyn; SunTech Medical, Inc.; American Diagnostic Corporation; Withings; Briggs Healthcare; Spacelabs Healthcare; Kaz, A Helen of Troy Company; GF HEALTH PRODUCTS, INC.; Rossmax International Limited; Microlife Corporation; Omron Healthcare, Inc.|
The growing geriatric population across the globe is expected to widen the target consumers by triggering incidence rates of hypertension, which is expected to drive the demand for blood pressure monitoring devices. The increasing incidence of hypertension has led to rising demand for cost-effective, rapid, and accurate diagnostic solutions. Blood pressure monitors are one of the vital signs monitors of life. The cost-effective and accurate results offered by these indicators are one of the key factors responsible for market growth.
The ambulatory blood pressure monitors are expected to witness the fastest growth over the forecast period owing to factors such as growing awareness and increasing adoption by clinicians. Automated/digital BP monitors are expected to witness lucrative growth in the coming years owing to advantages associated with these devices, such as ease of use, immediate results, and low cost.
The sphygmomanometers/aneroid BP monitors accounted for the largest share of over 40.0% in 2020. Technological advancements, coupled with new product launches, are expected to further fuel the demand for sphygmomanometers globally. Demand for digital sphygmomanometer is expected to grow in the years to come due to associated advantages, such as accurate results and ease of use.
In addition, continuous technological improvements such as advances in wearable technology, apps, and mobiles in the consumer healthcare segment, the declining average selling price for retailers and manufacturers, and rising penetration in the professional market are the factors propelling the market growth. Technologically advanced digital BP monitors available in the market are Microlife WatchBP home A, QardioArm, LifeSource Advanced one-step auto inflate blood pressure monitor, and iHealth blood pressure monitor from Omron healthcare.
Blood pressure cuffs are expected to grow at a significant rate over the forecast period due to the increasing usage of blood pressure monitors, which is attributed to the growing incidence of high blood pressure. These cuffs are available in different sizes according to the patient type. Two types of cuffs: disposable and reusable are available in the market. Amongst this, the disposable segment is anticipated to expand at a high CAGR due to the rising adoption of eco-friendly products and increasing concerns about hospital-based cross-contamination events. For instance, in July 2020, Vancouver Coastal Health—a regional health authority—replaced its reusable blood pressure cuffs with disposable ones to prevent cross-contamination and limit the spread of COVID-19, thereby increasing the demand for disposable blood pressure cuffs by its affiliated members.
The hospitals segment dominated the market in 2020 with a share of more than 60.0% due to the presence of a large patient pool. The adoption of BP monitoring devices is driven by the need for cost-effective, fast, and accurate diagnostic tools for better health outcomes. Hospitals, ambulatory surgical centers and clinics, and home healthcare are the end-use segments analyzed in the market.
North America held the largest revenue share of more than 45.0% in 2020 as it has a highly regulated and developed healthcare infrastructure. Increasing investments in the development of accurate and effective BP monitors are expected to contribute to the regional market growth in the coming years.
Moreover, new product launches, along with technological advancements, are expected to fuel the market growth. For instance, in May 2018, Hill-Rom launched Welch Allyn home blood pressure monitors and digital scale products in the U.S. Moreover, a rising preference for home healthcare, coupled with the awareness about the importance of early diagnosis of hypertension and cardiac diseases, is further expected to boost the market growth in North America.
Koninklijke Philips N.V.
General Electric Company
A & D Company, Limited
SunTech Medical, Inc.
American Diagnostic Corporation
Kaz, A Helen of Troy Company
GF HEALTH PRODUCTS, INC.
Rossmax International Limited
Omron Healthcare, Inc.
Sphygmomanometer/Aneroid BP Monitors
Automated/Digital Blood Pressure Monitors
Ambulatory Blood Pressure Monitors
Instruments and Accessories
Blood Pressure Cuffs
Ambulatory Surgical Centers & Clinics
Middle East and Africa
The Blood Pressure Monitoring Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Blood Pressure Monitoring Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Blood Pressure Monitoring Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Blood Pressure Monitoring Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Blood Pressure Monitoring Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Blood Pressure Monitoring Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Blood Pressure Monitoring Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Blood Pressure Monitoring Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Blood Pressure Monitoring Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Blood Pressure Monitoring Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Blood Pressure Monitoring Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Blood Pressure Monitoring Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Blood Pressure Monitoring Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Blood Pressure Monitoring Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Blood Pressure Monitoring Devices market. These factors have benefited the growth of the global market for Blood Pressure Monitoring Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Blood Pressure Monitoring Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Blood Pressure Monitoring Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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