According to the deep-dive market assessment study conducted by Growth+ Reports, the global blood pressure monitors market was pegged at ~US$ 4.95 billion in 2021. The market is expected to witness a CAGR of ~8.9% from 2022 to 2030.
The increasing burden of high blood pressure cases across the globe has increased the demand for monitoring devices. The rising rate of obesity, a sedentary lifestyle, unhealthy food choices, and the large population at an increased risk of lifestyle diseases all drive the global blood pressure monitors market. The advent of automated/digital and wearable devices with benefits such as repetitive measurements of blood pressure with high accuracy and a ban on mercury-based devices also fuel the market. Initiatives taken by governments to raise public awareness, of and need for electronic healthcare records and to maintain a database produced by remote patient monitoring are anticipated to boost the market growth. The technological advancements and improvements in devices and new product launches are all expected to fuel the demand for monitors.
The rise in hypertension cases due to lifestyle changes is a key factor driving the industry growth during the forecast period. According to a report released by the World Health Organization (WHO), in 2021, an estimated 1.28 billion adults between the ages of 30 and 79 worldwide have hypertension, with almost two-thirds of them living in lower-middle-income countries. This directly indicates the need for blood pressure monitoring, increasing the market demand for blood pressure monitors.
Advancements such as mobile-based blood pressure monitoring systems and digital blood pressure monitors are expected to boost the demand. Evolution in blood pressure measurement devices, such as wearable & portable devices and mobiles, are growing in popularity due to associated advantages such as wireless transmission of patient data and ease of use. Emerging technologies such as mobile health, which support treatment and medication compliance for patients treating chronic diseases, are expected to spur industry growth, helps track patient health information, medication regimens, and treatment follow-up. These related benefits are some of the factors expected to drive business growth. New product launches and technological advancements are expected to further increase the demand. For example, in 2020 PyrAmes launched a non-invasive, continuous, comfortable, wireless, easy-to-use wearable blood pressure monitor to provide more timely and personalized care to patients of all ages.
Government initiatives such as public blood pressure monitoring programs to raise public awareness and maintain databases created by remote blood pressure monitors could drive further growth during the study period. For example, in February 2019, an initiative called The Integrated Health Model Initiative (IHMI), funded by the American Medical Association (AMA), launched a data management model to provide opportunities to improve health outcomes. Such initiatives, therefore, support the market growth.
Asia Pacific region is expected to grow faster in the forecast period, owing to the untapped opportunities, increased investment by manufacturers, increased awareness, and increased incidence of hypertension. Rapid improvement of medical facilities and the increasing number of undiagnosed and untreated hypertensive cases are key factors contributing to the growth of this regional market. Government initiatives to raise people's awareness and support the rapidly expanding population base targeting the disease will further contribute to the profitable growth of the blood pressure monitor market in the region. Recognizing that hypertension is a serious and growing health problem in India, the Ministry of Health, the Indian Medical Research Council, state governments and WHO-India have launched the Five-Year Hypertension Surveillance and Treatment Initiative. India has set a '25 by 25' target to reduce premature mortality from non-communicable diseases (NCDs) by 25% by 2025. One of nine voluntary goals is to reduce the prevalence of hypertension by 25% by 2025.
The prominent players operating in the global blood pressure monitors market are, Omron Healthcare, Welch Allyn, Inc., Withings, Briggs Healthcare, Koninklijke Philips N.V., Rossmax International Ltd., A&D Medical Inc., SunTech Medical Inc., Hill-Rom Holdings, Inc., GE Healthcare, Accoson Ltd., Microlife Corporation, Beurer GmbH, Nihon Kohden Corporation, and Masimo among others.