Soaring Hypertension Rates Drive Blood Pressure Monitor Market to US$4.07 Billion by 2034 | Future Market Insights, Inc.
This in-depth report delves into the key drivers, challenges, and investment opportunities shaping the blood pressure monitor market, offering valuable guidance for businesses navigating this evolving landscape. The report highlights the rising prevalence of hypertension, the growing trend of home monitoring, the increasing demand for cost-effective and user-friendly BP-checking devices, and the surge in interest in self-monitoring as the primary factors fueling market growth
NEWARK, Del., Nov. 20, 2023 /PRNewswire/ -- As per the latest analysis, the global blood pressure monitor market value is projected to surge from US$ 2.26 billion in 2024 to US$ 4.07 billion in 2034. Over the forecast period, sales of blood pressure monitors will likely rise at a CAGR of 6.1%.
Blood Pressure Monitor Industry Driving Factors:
Several factors are expected to drive the growth of the blood pressure monitor industry. These include the rising prevalence of hypertension, the growing geriatric population, and the increasing popularity of wearable BP monitoring devices.
High blood pressure, also known as hypertension, is among the leading causes of death worldwide as it gives rise to several heart diseases. Low blood pressure (hypotension) is also a concern.
Rising cases of hypertension and hypotension are prompting people to monitor their blood pressure levels continuously. This is expected to drive demand for blood pressure monitors as they are widely employed to measure blood pressure levels.
The aging population is the one at significant risk of having hypertension or hypotension. It is estimated that 5% of the population above the age of 50 years and 30% of those above 70 years have hypotension. Also, more than 70% of the population aged over 65 years have hypertension. Hence, growing geriatric populations will create new opportunities for BP monitor companies.
A large population also suffers from issues related to blood pressure because of the changing lifestyle of the people. The changing food habits of people are resulting in developing diabetes and obesity, which makes people susceptible to issues related to blood pressure. This is set to impact blood pressure monitor sales positively.
Self-monitoring is becoming a practical choice for enhancing blood pressure management. The American Heart Association advises checking blood pressure at least twice a day. These reasons motivate people to use home blood pressure monitoring equipment for self-monitoring, creating growth prospects for the target market.
The patient's concerned doctor receives the monitoring data, and then the appropriate treatment is given. Hence, the rising prevalence of hypertension has raised the demand for blood pressure monitors.
Leading manufacturers are concentrating on creating new products with better efficiency. They are bringing in new technology that can make the blood pressure monitors beneficial for the long term.
For instance,
- In February 2022, InBody launched a BP 170 at-home automatic blood pressure monitor that provides the option to self-record and track key health metrics. The device tracks the daily changes in systolic and diastolic blood pressure and pulse rate using the oscillometric method.
Key Takeaways from the Market Study-
- The global market for blood pressure monitors is expected to total US$ 4.07 billion in 2034.
- Based on product, the arm cuff segment accounted for 64.6% of the market share in 2023.
- By indication, the short-term segment is poised to exhibit a CAGR of 6.8% through 2034.
- By end-user, the ambulatory care services segment will likely thrive at a 6.7% CAGR between 2024 and 2034.
- North America held a market share of 34.3% in 2023.
- Demand for blood pressure monitors in the United States is set to rise at a 7.5% CAGR.
- Japan is expected to register a CAGR of 4.9% during the assessment period.
- Blood pressure monitor sales in the United Kingdom are estimated to rise 8.7% CAGR through 2034.
Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!
"The increasing geriatric population susceptible to several chronic diseases, the changing lifestyle of the people, and the rising blood pressure related issues are driving the growth of the blood pressure monitor market," according to Sabyasachi Ghosh, (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
Key blood pressure monitor manufacturers are bringing in innovative new products for great usage. In addition, they are making strategic planning such as mergers and acquisitions to expand the market presence.
For instance,
- The world's first blood pressure patch with multiple usages was made available for use in commercial research & development, according to Vivalink, in May 2022. The gadget has received FDA/NMPA clearance for ECG, heart rate, and CE clearances for ECG, heart rate, and respiratory rate.
- In May 2021, Biobeat launched continuous ambulatory blood pressure monitoring (ABPM) and a wearable chest monitoring gadget. It revolutionizes the logistical workflow of the ABPM test by sending disposable, sterile monitors straight to the patients by the courier while maintaining patient comfort and continuing an uninterrupted day-to-day lifestyle.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
Get More Valuable Insights into the Blood Pressure Monitor Market
Future Market Insights (FMI) offers a unique perspective and actionable insights on the blood pressure monitor market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global blood pressure monitor market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the product (arm cuff and wrist cuff), indication (long-term and short-term), and end-user (hospitals, clinics, ambulatory care services, and home care settings) across seven key regions of the world.
About Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.
About the Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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