According to our latest study on “Blood Pressure Monitoring Devices Market Forecast to 2030 – Global Analysis – Product, Type, and End User,” the blood pressure monitoring devices market value is expected to reach US$ 5,346.65 million by 2030 from US$ 2,387.21 million in 2022; the market is estimated to record a CAGR of 10.6% during 2022–2030. The report highlights the key factors driving the market and prominent players with their developments. Major growth enablers in the blood pressure monitoring devices market include a rise in the incidence of cardiovascular diseases and an upsurge in the geriatric population. However, the risk of cybersecurity vulnerabilities hampers the market growth.
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Companies operating in the blood pressure monitoring devices market focus on strategic developments such as collaborations, expansions, agreements, partnerships, and new product launches, which help them improve their sales, expand their geographic reach, and enhance their capacities to cater to a larger than existing customer base. A few of the noteworthy developments in the blood pressure monitoring devices market are mentioned below:
· In January 2023, Valencell launched its own branded product line in the Digital Health segment. The company’s first product candidate focuses on helping patients monitor and manage hypertension using an intuitive app combined with an innovative OTC device to precisely measure blood pressure from the finger without a cuff or calibration.
· In Oct 2022, OMRON Healthcare upgraded its portfolio of blood pressure monitors by converting them into “connected” devices. This major upgrade in the portfolio was meant to help users and healthcare practitioners gain seamless, effortless, more real-time, and accurate control over hypertension management. The connected devices allow the blood pressure data to transfer effortlessly through the OMRON Connect application (app).
· In February 2022, Inbody launched its new BP 170 automatic blood pressure monitor, which offers individuals an option to self-record and track key health parameters at home.
· In June 2021, Biobeat launched a cuffless continuous ambulatory blood pressure monitor. The new device differs from typical care products as it is cuffless and can capture data on a patient’s cardiac health throughout the day.
· In December 2020, DetelPro, the health and hygiene vertical of Detel India, launched a new digital monitoring solution. This BP device is equipped with voice technology that allows people to hear their blood pressure readings. It also has an arrhythmia indicator that notifies users of irregular heartbeat readings. This device consists of 99 sets of storage for 2 people at a time and has an adjustable large arm cuff that fits various arm circumferences.
Therefore, introducing products and the initiation of new businesses to remain competitive in the market would create significant growth opportunities in the blood pressure monitoring devices market.
Based on the product, the blood pressure monitoring devices market is segmented into mercury columns, aneroid blood pressure monitors, and digital blood pressure monitors. In 2022, the digital blood pressure segment held a significant market share, and the same segment is estimated to register the fastest CAGR during 2022–2030. Digital blood pressure measuring devices are developed with excellence, and they are among the best blood pressure machines that deliver precise and accurate blood pressure and pulse readings. Digital monitors are preferred for measuring blood pressure. They are often easier to use than aneroid units. Digital monitors have a stethoscope and a gauge in a single unit, along with an error indicator. The blood pressure reading is displayed on a small screen; it may be easier to read than a dial. Digital monitors are suitable for hearing-impaired patients since there is no necessity to listen to heartbeats through stethoscopes.
Based on type, the blood pressure monitoring devices market is segmented into arm, wrist, finger, and others. In 2022, the arm segment held the largest share of the market, and the same segment is estimated to register the fastest CAGR during 2022–2030. The finger-based blood pressure monitoring technology is similar to pulse oximetry, as it uses light that bounces off of the user’s finger to measure blood flow using a photoplethysmogram (PPG), which is interpreted with different algorithms. In May 2023, engineers at the University of California San Diego developed a simple, low-cost clip that uses a smartphone’s camera and flash to monitor blood pressure at the user’s fingertip. The clip works with a custom smartphone app, and its production currently costs ~80 cents. The researchers estimate that the cost could be as low as 10 cents apiece when manufactured at scale. They claim that this device could help make regular blood pressure monitoring easy, affordable, and accessible to people in resource-poor communities. It could benefit older adults and pregnant women in managing conditions such as hypertension.
Based on end users, the blood pressure monitoring devices market is segmented into hospitals and clinics, home care settings, ambulatory surgical centers, and others. In 2022, the hospitals and clinics segment held a significant share of the market. The home care settings segment is estimated to register the fastest CAGR during 2022–2030. Hospitals and clinics are the primary healthcare providers in most countries. The American Heart Association, Inc. report states that the frequency of rhythm abnormalities in middle-aged to older community-dwelling adults is substantial. Atrial fibrillation, bradyarrhythmias, and conduction system diseases account for the majority of abnormal rhythm conditions. For records, cardiac arrhythmias affect at least 2.3 million people in the United States alone, resulting in an increased risk of stroke and mortality.
Additionally, 90,000 cases of supraventricular tachycardia are detected annually in the United States, accounting for 25% of all emergency department visits for supraventricular tachycardia resulting in hospitalization. Apart from that, the NCBI report states that out of 5,585 hospital admissions for cardiac arrhythmias, 2,020 (36.1%) had concurrent arrhythmias. Thus, there is a rising number of multi-specialty hospitals and people’s preference for hospitals & clinics over other healthcare settings. Owing to all the factors mentioned above, the hospital & clinics segment is likely to grow in the coming years.
United States Food and Drug Administration (USFDA), European Society of Cardiology, and Centers for Disease Control and Prevention (CDC) are a few key primary and secondary sources referred to while preparing the report on the blood pressure monitoring devices market.
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