Blood Pressure Monitoring Devices Market by Product Type (Aneroid BP Monitors, Digital BP Monitors, and Fully Automatic BP Monitors), End-use (Hospitals, Ambulatory Surgical Centers, and Home Healthcare), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Blood Pressure Monitoring Devices Market Analysis

According to the global blood pressure monitoring devices market forecast, the market is expected to reach up to $3.293.3 million by 2028, surging from $1,391.7 million in 2020, at a noteworthy CAGR of 11.6%.

Blood Pressure Monitoring Devices Market Insight

Growing government awareness programs to create enormous impact on the global blood pressure monitoring devices market.

However, lack of awareness along with less product penetration mainly in developing countries may hamper the global blood pressure monitoring devices market growth.

According to the regional analysis of the blood pressure monitoring devices market, Asia-Pacific region is anticipated to surge at a CAGR of 12.2%, by registering a revenue of $1,439.2 million, during the forecast period.

Blood Pressure Monitoring Devices Market Outlook

Blood pressure monitoring device is an instrument which helps in measuring blood pressure, specifically in arteries. The blood pressure machine measures 2 pressures namely diastolic and systolic. Diastolic pressure is measured when patient’s heart is resting and filling with blood while systolic pressure is measured when patient’s heart beats and passes blood through the arteries.

Covid-19 Impact on Blood Pressure Monitoring Devices Market

In response to the Covid-19 pandemic, business sectors namely retail, hospitality, and automotive industry have been forced to reconsider their business models and policies. Whereas, global blood pressure monitoring (BP) devices market has witnessed inclined growth, (specifically home BP monitoring) during the pandemic period mainly because of the difficulties in accessing healthcare facilities. Furthermore, the communal transmission of COVID-19 has imposed the huge workload on health care professionals. In such condition, the home BP monitoring devices combined with digital health technologies played important part during the COVID-19 crisis.

Furthermore, in March 2020, U.S. Food and Drug Administration (US FDA), a federal agency within United States (US) department of health and human services, issued a policy that enables medical device manufacturers to expand the availability and capability of non-invasive remote monitoring devices in order to facilitate patient monitoring. These devices mainly consist of blood pressure monitors, respiratory rate monitors, and others. Such government support period has significantly impacted the global blood pressuring monitoring devices, throughout the pandemic period.

Growing Government Awareness Programs to Create Enormous Impact on the Global Blood Pressure Monitoring Devices Market

CVDs (cardiovascular diseases) specifically hypertension is the main cause of notable deaths across the globe. Hence, government bodies are coming up with novel and attractive programs to fight with hypertension and other chronic disorders. For example, in July 2021, The American Heart Association, the US based nonprofit organization that funds cardiovascular medical research, announced $20 million grants to 5 scientific research teams in order to find novel products & solutions for the prevention of high blood pressure. Teams such as Johns Hopkins University School of Nursing; Beth Israel Deaconess Medical Center; University of Alabama at Birmingham; and Wayne State University and NYU Grossman School of Medicine will receive grants to study high BP prevention.

Further in July 2021, Australian Government invested a $40.5 million to add new services and strengthen existing services of the ambulatory blood pressure monitoring. Such government initiatives may further flourish the demand for blood pressure monitoring, which may ultimately drive the global market.

To know more about global blood pressure monitoring devices market drivers, get in touch with our analysts here.

High Investment Cost May Obstruct the Growth of the Global Blood Pressure Monitoring Devices Market

Requirement of high investment for the development of blood pressure monitoring devices may restrict the global blood pressure monitoring devices market growth, in the analysis period.

The Rising Prevalence of Obesity Worldwide to Create Enormous Opportunities for the Global Market in the Future

Obesity is the major cause of hypertension across the globe. According to the World Health Organization (WHO), a specialized agency of the United Nations (UN) responsible for global public health, the obesity disorder has almost tripled since 1975, worldwide. Furthermore, in 2020, almost 39 million children under the age of 5 were obese or overweight. These figures showcase that the demand for blood pressure monitoring devices is expected to increase exponentially, which may create novel opportunities in the global industry, in the coming years.

To know more about global blood pressure monitoring devices market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The digital BP monitors sub-segment is expected to have the dominating share as well as lucrative growth in the global market and register a revenue of $2,069.4 million by 2028. Technological innovation such as integration of ECG (Electrocardiogram) sensors in smart watch is further expected to fuel the sub-segment, in the forecast period. Moreover, precision and improved accuracy of the digital BP machine along with growing adoption of smart watches in-built with ECG sensors are some of the factors expected to accelerate the market growth of digital BP monitors, in the forecasted years.
Also, in October 2019, OMRON Healthcare, Inc., the key player in blood pressure innovation, announced the launch of redesigned models of its advanced blood pressure monitors with updated features namely reliability, enhanced accuracy, and ease of use. Such product innovations are further expected to flourish the sub-segment’s growth.

Source: Research Dive Analysis

The home healthcare sub-segment of the global blood pressure monitoring devices market is expected to grow at the healthy CAGR and cross $499.8 million by 2028, with the increase from $172.6 million in 2020.
Extensive growth in the geriatric population along with the growing prevalence of CVDs can contribute to the home healthcare sub-segment, in the analysis period. Also, increasing demand for cost-efficient healthcare delivery owing to the growing healthcare expense, and technological advancements in homecare devices may further propel the market, in the projected period.

The hospitals sub-segment of the global blood pressure monitoring devices market will have largest share and it is projected surpass $1,780.3 million by 2028, with a rise from $800.4 million in 2020.
Massive increase in the prevalence of obesity worldwide, increase in awareness about high blood pressure (hypertension) in developing region, and noticeable R&D funding are some of the driving elements fueling the sub-segments growth. Along with this, enhancement of healthcare infrastructure and surged adoption of innovative BP monitors in the hospitals may create enormous opportunities in the hospital sub-segment.

Global Blood Pressure Monitoring Devices Market, Regional Insights:

The blood pressure monitoring devices market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Blood Pressure Monitoring Devices in Asia-Pacific to be the Most Dominant as well as Lucrative

Blood pressure monitoring devices market for Asia-Pacific region is highly competitive and leading companies in the market are preferring numerous strategies to garner prominent Asia-Pacific blood pressure monitoring devices market share. Asia-Pacific blood pressure monitoring devices market accounted $583.1 million in 2020 and is expected to register a revenue of $1,439.2 million by 2028.

The extensively increasing need for novel therapeutics for the treatment of hypertension particularly in India, South Korea, and China is one of the important factors propelling the Asia-Pacific blood pressure monitoring devices market. Also, one of the major factors behind this growth can be the robust presence of prominent players including Omron healthcare Inc. and CardieX and their strategic steps are further expected to foster the market.

Competitive Scenario in the Global Blood Pressure Monitoring Devices Market

Treatment type launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading blood pressure monitoring devices market players are A&D Company, Omron Corporation, Smiths Group Plc., Rossmax International Limited, Koninklijke Philips N.V., SunTech Medical, Inc., GF HEALTH PRODUCTS, INC., Welch Allyn, Microlife Corporation, and Kaz, A Helen of Troy Company.

Porter’s Five Forces Analysis for the Global Blood Pressure Monitoring Devices Market:

• Bargaining Power of Suppliers: The suppliers operating in the global blood pressure monitoring devices are high in number and are much larger and more globalized. So, there will be less threat from the supplier.
  Thus, the bargaining power of the supplier is low.    
• Bargaining Power of Buyer: Buyers demand effective blood pressure monitoring devices in lower cost. This has increased the pressure on the multiple manufacturers to offer the advanced monitors in a cost-effective way. Thus, many suppliers have started offering best yet cost –effective blood pressure monitoring devices. This gives the buyers the option to freely choose blood pressure monitoring devices that best fits their preference.
  Thus, the bargaining power of the buyer is high.
• Threat of New Entrants: The companies entering the global blood pressure monitoring devices market are adopting technological innovations to attract customers. Also, these companies are implementing various effective strategies and there is government support in some countries.
  Thus, threat of the new entrants is high.
• Threat of Substitutes: Smartwatch or fitness tracker can be the alternative device for the BP machine available. 
  Thus, the threat of substitutes is moderate.
• Competitive Rivalry in the Market: The competitive rivalry among the industry leaders is rather intense, especially between the global players including A&D Company, Omron Corporation, and Smiths Group Plc. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
  Therefore, the competitive rivalry in the market is high.