Published Date : 08 Nov 2023
The global blood pressure monitoring devices market size surpassed USD 1.77 billion in 2022 and it is expected to rake around USD 4.12 billion by 2030, poised to grow at a CAGR of 10.93% from 2022 to 2030.
Blood pressure monitoring is essential in diagnosing general treatments, like high blood pressure and hypertension. High blood pressure causes several problems such as heart attacks and other health risks. Government initiatives for the rising awareness of regular health monitoring, changing lifestyles and continuous stress in the lifestyle result in higher cases of hypertension which is anticipated to boost the demand for blood pressure monitoring devices in the overall healthcare industry.
Substantial technological advancements and the integration of advanced solutions in healthcare devices are promoting the growth of the blood pressure monitoring devices market. Technological advancements are observed to offer more accurate results in monitoring. Whereas robustly rising cases of hypertension and cardiovascular diseases, especially in geriatric population is observed to supplement the growth of the market.
North America dominated the global blood pressure monitoring devices market in 2022, the region is observed to sustain the trend in the upcoming period. The region’s dominance in the market is attributed to the rapid adoption of advanced technologies by the healthcare sector. Well established healthcare sector of the region along with the growing number of awareness programs for heart-related disorders promote the market’ growth in North America.
Countries such as the Unites States and Canada are observed to be the largest contributors to the market in the region. Factors such as rapidly growing adoption of telehealth or remote patient monitoring systems along with rising geriatric population support the market’s position in North America.
|Market Revenue in 2023||USD 1.92 Billion|
|Projected Forecast Revenue by 2030||USD 4.12 Billion|
|Growth Rate from 2022 to 2030||CAGR of 10.93%|
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
Technological advancements along with the rising focus on awareness regarding health conditions across the globe is observed to act as a major driver for the expansion of blood pressure monitoring market. Multiple key players in the industry are focused on the development and launch of technologically advanced blood pressure monitoring devices with the integration of smart solutions and sensors. Additionally, the wide adoption of telehealth or remote monitoring is promoting the development of technologically advanced products in the overall healthcare industry.
Rise in geriatric population
The increasing geriatric population results in an increase in cases of hypertension, heart stroke, and other health-related issues. Aged patients are extensively advised to stay at home for the treatment purpose due to the complexities in regular hospital admissions, this brings a significant factor for the development of more advanced remote monitoring devices for regular health monitoring purposes. Thereby, the factor is observed to act as a major driver for the market.
High cost of device
Integration of advanced technologies and the overall research and development cost can add up to the final cost of blood pressure monitoring devices. The higher cost of devices restrains the adoption of blood pressure monitoring devices, especially in underdeveloped areas. Lack of healthcare infrastructure and budget for healthcare services in such areas limit the expansion of the market.
There is a constant skepticism regarding the adoption of advanced healthcare devices that can create a major restraint for the market’s expansion. Patients, especially those are at-home care settings are observed to be more skeptical to use new devices for monitoring purpose. Lack of knowledge and education about such devices may also limit the expansion of the market.
Rise in digitization and connectivity
Increasing digitization and internet connectivity is one of the major trends in the blood pressure monitoring market. The technologically advanced devices are made to connect with internet and Bluetooth or Wi-Fi capabilities which is helpful to connect with smartphones, tablets, or any healthcare apps. Digitization shows various benefits in the blood pressure monitoring such as remote monitoring, data storage, alerts and reminders, and health insights all these factors improve the overall results obtained from the devices. Thereby, the factor is observed to offer a significant opportunity for the market.
Wearable technology in blood pressure monitoring
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