According to Emergen Research, the global blood pressure monitoring devices market size was USD 1.36 billion in 2020 and is expected to reach USD 3.18 billion in 2028 and register a revenue CAGR of 11.1% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Blood Pressure Monitoring Devices Market, By Product Type (Sphygmomanometers, Digital Blood Pressure Monitors, Ambulatory Blood Pressure Monitors, Instruments & Accessories, Transducers) By Technology (Air Pressure-based, Sensor-based, Digital, Aneroid), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Diagnostic Centers, Homecare Settings, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global blood pressure monitoring devices market size was USD 1.36 billion in 2020 and is expected to reach USD 3.18 billion in 2028 and register a revenue CAGR of 11.1% during the forecast period, 2021-2028.
Market Dynamics:
The global blood pressure monitoring devices market revenue growth is majorly attributed to factors such as rise in global geriatric population, rising burden of lifestyle-induced and age-related health disorders such as diabetes, obesity, hypertension, and high blood pressure, growing prevalence of cardiovascular diseases, and continuous advancements in healthcare technology. According to a 2019 research report issued by the World Health Organization (WHO), more than 1.15 billion people across the globe had been suffering from lifestyle diseases such as high blood pressure and hypertension.
Other major factors driving revenue growth of the global blood pressure monitoring devices market include growing demand for digitalized, sensor-based, and mobile blood pressure monitoring solutions for faster results, improved efficiency, and higher portability. Market revenue growth is further driven by growing trend of mHealth (mobile health), increasing government investments in development of more advanced healthcare products & solutions, and rapid adoption of mobile-based and self-measurement blood pressure monitoring devices in homecare settings.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Sphygmomanometers Segment Accounted for Largest Revenue Share in 2020:
The sphygmomanometers segment dominated other segments in terms of largest revenue share in 2020, owing to certain favorable factors. Factors driving growth of this segment are rising prevalence of chronic diseases including hypertension, cardiovascular disorders, obesity, and diabetes, increasing healthcare expenditures of individuals, and growing use of digital sphygmomanometers and other advanced blood pressure monitoring devices.
Hospitals Segment to Account for Fastest Revenue CAGR:
The hospitals segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Revenue growth of this segment is boosted by factors such as rapid adoption of digitalized blood pressure monitoring solutions in hospitals, growing demand for more advanced diagnostic tools and solutions, and rise in government initiatives further advance the global healthcare infrastructure.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America blood pressure monitoring devices market accounted for largest revenue share in the global market in 2020, supported by many favorable factors. Key factors driving the regional market revenue growth are rising burden of chronic diseases such as hypertension, high blood pressure, and cardiovascular diseases, unhealthy lifestyle habits, growing awareness of health & wellness, and growing need for early disease diagnosis. Rising trend of mHealth and increasing use of mobile-based blood pressure monitoring solutions are other factors contributing to the North America market growth.
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Major Companies in the Market Include:
- Koninklijke Philips N.V.
- General Electric Company
- A&D Company, Ltd.
- Welch Allyn
- SunTech Medical, Inc.
- American Diagnostic Corp.
- Withings
- Briggs Healthcare
- Spacelabs Healthcare
- Kaz Inc.
For the purpose of this report, Emergen Research has segmented the global blood pressure monitoring devices market based on product type, technology, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2021–2028)
- Sphygmomanometers
- Digital Blood Pressure Monitors
- Ambulatory Blood Pressure Monitors
- Instruments & Accessories
- Transducers
Technology Outlook (Revenue, USD Billion; 2021–2028)
- Air pressure-based
- Digital
- Aneroid
- Sensor-Based
End-use Outlook (Revenue, USD Billion; 2021–2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Homecare Settings
- Others
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Region Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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