Digital Blood Pressure Monitors Market
Number of pages: 100 | Report Format: PDF | Published date: 24 January, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 1.04 billion |
|
Revenue forecast in 2030 |
US$ 2.58 billion |
|
Growth Rate |
CAGR of 10.6% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Historical Years |
2020 |
|
Segments covered |
Product Type, End User, and Region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global digital blood pressure monitors market was valued at US$ 1.04 billion in 2021 and is expected to witness a CAGR of 10.6% during the forecast period from 2022 to 2030.
Market Fundamentals
Digital blood pressure monitors are becoming increasingly popular as they provide a convenient and accurate way to measure and monitor a person’s blood pressure. These devices are designed to be easy to use, allowing users and healthcare professionals to access data from anywhere. These sensors can detect irregular readings, alerting users of potential health issues. With digital blood pressure monitors, users can easily track their health over time and make appropriate lifestyle choices.
[5373405]
Market Dynamics
Blood pressure plays a crucial role in the indications process used by healthcare practitioners to determine a patient's health. The rising hypertension cases among the population across the globe have positively influenced the concerns for necessary blood pressure check-ups. The growing adoption of digital blood pressure monitors among people can be attributed to rising chronic diseases primarily caused by hypertension, such as cardiovascular disorders, arrhythmia, and stroke. According to CDC (Centers for Disease Control and Prevention), in 2020, more than 670,000 deaths were reported in the United States, with hypertension as the primary cause. Moreover, about 47% of the adult population in the U.S. (approximately 116 million) is expected to suffer from hypertension, thus positively influencing the global market development. Furthermore, continuously increasing technological advancements by researchers for enhanced and convenient solutions are also propelling the overall digital blood pressure monitor market. The global market growth is also driven by the rapidly increasing adoption of mHealth (mobile health) due to growing urbanization in various economies. Enhancing interest in digital blood pressure monitors among the market stakeholders with the internal competition for the launch of novel technologies further fuels the overall market growth. Moreover, the cost-effectiveness of products and consistently increasing disposable income with public awareness about such advanced technologies contribute to the global blood pressure monitors market development.
However, the accuracy of digital blood pressure monitors can be impacted by body movements or an erratic heart rate. While some types of digital blood pressure monitors are only compatible with the left arm, causing some difficulties in the operations for certain patients.
Market Ecosystem
The global digital blood pressure monitors market has been analyzed from three perspectives: Product Type, End User, and Region.
Digital Blood Pressure Monitors Market by Product Type
[335234]
Based on product type, the global digital blood pressure monitors market has been sub-segmented into wrist type, upper arm type, and finger type. Wrist-type digital blood pressure monitors registered the largest revenue share in the global digital blood pressure monitors market. Digital wrist blood pressure monitors can provide accurate readings. The wrist arteries are narrower and closer to the skin than the other arteries (upper arm arteries), thus resulting in higher precision in the blood pressure readings by digital wrist blood pressure monitors. Additionally, the growing adoption and popularity of digital wrist blood pressure monitors among the population also contribute to the dominance of this segment. Some advantages of digital wrist blood pressure monitors, such as being handy & convenient with accurate & relatively faster blood pressure readings, further enhance the sales of digital wrist blood pressure monitors in the market. These overall factors contribute to the continuous growth of the digital blood pressure monitor market.
At the same time, digital upper arm blood pressure monitor is also expected to gain popularity in various economies. The gradually increasing usage of digital upper arm blood pressure monitors across various healthcare institutions is a significant factor driving this segment's consistent growth. Precise measurements are critical for healthcare professionals to understand better patient blood pressure to manage and diagnose hypertension and other related diseases. These overall factors drive the worldwide digital upper arm blood pressure monitor market's growth.
Digital Blood Pressure Monitors Market by End User
Based on the End User, the global digital blood pressure monitors market is classified into hospitals & clinics, ambulatory surgical centers, homecare settings, and others. The hospitals & clinics segment accounted for the highest share of the global digital blood pressure monitor market. The growth of the hospitals & clinics segment can be primarily ascribed to the footfall of a large patient population to diagnose and manage diseases. Additionally, the high adoption of advanced technologies with continuously evolving healthcare services in this segment further fuels the expansion of the hospitals & clinics segment, hence surging the overall digital blood pressure monitor market development.
Similarly, the home care segment is estimated to illustrate notable growth in the forecast timeframe. Additionally, the availability of smart wearables that provide mobility and remote monitoring is also expected to enhance the growth of the home care segment, thereby propelling the overall global digital blood pressure monitors market.
Digital Blood Pressure Monitors Market by Region
The global digital blood pressure monitors market has been segmented based on regions into North America, Europe, Asia Pacific, and the rest of the world. North America registered for the largest revenue share in 2021 and is estimated to show similar dominance during the forecast timeline from 2022 to 2030. The large share of the region in the digital blood pressure monitors market can be attributed to the high prevalence of hypertension and the large patient base for chronic diseases such as cardiovascular disorders, strokes, arrhythmia, etc. Additionally, the high geriatric population is vulnerable to various medical conditions, and increased awareness among people for early diagnosis and treatment also contributes to the growth of the global market. Moreover, well-developed healthcare infrastructure with enhanced & advanced healthcare systems and high healthcare expenditure further encourages the digital blood pressure monitors market expansion in North America. Furthermore, significant ongoing investments in developing precise and effective digital blood pressure monitors coupled with new product releases and technical improvements are likely to propel the industry's growth. For instance, in Feb 2020, Hillrom commercially launched a novel device, the Welch Allyn Spot Vital Signs 4400, an easy-to-use next-generation vital signs equipment designed to enhance hypertension identification in ambulatory and emergency department settings.
Competitive Landscape
The prominent players operating in the global digital blood pressure monitors market are:
Competitive Landscape
Global digital blood pressure monitors are expected to be US$ 2.58 billion in 2030
Digital Blood pressure monitors are expected to grow at a CAGR of 10.6% during the projected period.
North America holds the largest share of the global digital blood pressure monitors market.
Body movements or heart rate can negatively influence the accuracy of digital blood pressure monitors, which may limit their adoption, thereby hindering the growth of the digital blood pressure monitors market to a certain extent.
Wrist type segment dominates the digital blood pressure monitors industry
*Insights on financial performance are subject to the availability of information in the public domain
Using the fundamental research and knowledge services capabilities of GRG Health, Growth Plus Reports may now be tailored based on client needs.
GRG Health's unique GrowthMIX strategy and comprehensive research methodology enable us to provide unique and valuable insights to our clients while uncovering trends that would not be discovered using traditional techniques.
Snehal Deshmukh
Principle Consultant
Speak to analyst