Blood Pressure Monitoring Devices Market Size Report | Growth Drivers and Industry Outlook 2030

[Research Report] The blood pressure monitoring devices market size is projected to grow from US$ 2,387.21 million in 2022 to US$ 5,346.65 million by 2030; the market is estimated to record a CAGR of 10.6% during 2022–2030.

Market Insights and Analyst View:

Blood pressure monitoring devices determine hypertension in a patient’s body. Blood pressure is one of the major risk factors for strokes and chronic heart diseases, which are the principal cause of death around the world. In the last several years, there has been a surge in the use of blood pressure monitoring devices in home care settings. In addition, rising geriatric population, lifestyle changes, and technological advancements are among other notable growth enablers in the blood pressure monitoring devices market. These devices facilitate the early diagnosis of a patient’s deteriorating health condition. Moreover, advanced blood pressure monitoring devices developed for personal use help track patients’ health conditions remotely.

Growth Drivers:

Increase in Incidence of Cardiovascular Diseases Bolsters Blood Pressure Monitoring Devices Market Growth

In the last decade, the world has witnessed prominent developments in blood pressure monitoring devices, offering patients and physicians new methods to manage many diseases, including ventricular arrhythmias, atrial arrhythmias, and ventricular atrial fibrillation. The rising prevalence of cardiovascular diseases (CVDs) such as sudden cardiac arrest, coronary heart diseases, congenital heart diseases, pulmonary hypertension, heart failure, and pulmonary artery pressure (PA) favors the development of upgraded monitoring methods. The simplicity of use and the capability of quick detection of abnormalities are the key features of blood pressure monitoring devices. As per the World Health Organization (WHO), nearly 30 million people suffer stroke each year. The American Heart Association states that more than 130 million people in the US are estimated to have a type of CVD by 2035.

According to the European Society of Cardiology, atrial fibrillation is the most common arrhythmia, and it accounts for 0.28–2.6% of healthcare expenditure in European countries. It also stated that patients suffering from atrial fibrillation are at a 5-time greater risk of suffering a stroke, and 20–30% of total stroke cases in Europe are caused due to atrial fibrillation. According to a study conducted by the European Society of Cardiology in 2016, nearly 7.6 million people aged 65 and above suffered from atrial fibrillation in the EU, and the number is estimated to increase by 89% to reach ~14.4 million by 2060. The prevalence of atrial fibrillation is estimated to reach 9.5% by 2060 from 7.8% in 2016. According to the report named “The Impact of Atrial Fibrillation in Asia Pacific,” published by Biosense Webster in 2019, ~16 million people in Asia Pacific experience atrial fibrillation, and the number is predicted to reach nearly 72 million by 2050. This report also suggests that the middle-aged and geriatric population is at a greater risk of developing this condition.

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Blood Pressure Monitoring Devices Market: Strategic Insights

Blood Pressure Monitoring Devices Market

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  CAGR (2022 - 2030)

  10.6%
• Market Size 2022
  US$ 2,387.21 Million
• Market Size 2030
  US$ 5,346.65 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Omron Healthcare
• Welch Allyn Inc
• A D Medical Inc
• SunTech Medical Inc
• American Diagnostics Corp
• Withings
• GE Healthcare
• Microlife AG
• GF Health Products Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Mercury Columns
• Aneroid Blood Pressure Monitors
• Digital Blood Pressure Monitors

Type

• Arm
• Wrist
• Finger

End User

• Hospitals & Clinics
• Homecare Settings
• Ambulatory Surgical Centers

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Report Segmentation and Scope:

The “Blood Pressure Monitoring Devices Market” is segmented on the basis of product, type, and end users. Based on product, the market is segmented into mercury columns, aneroid blood pressure monitors, and digital blood pressure monitors. In terms of type, the blood pressure monitoring devices market is segmented into arm, wrist, finger, and others. On the basis of end user, the market is categorized into hospitals and clinics, home care settings, ambulatory surgical centers, and others.

Segmental Analysis:

Based on product, the blood pressure monitoring devices market is segmented into mercury columns, aneroid blood pressure monitors, and digital blood pressure monitors. In 2022, the digital blood pressure segment held a significant market share, and the same segment is estimated to register the fastest CAGR during 2022–2030. Digital blood pressure measuring devices are developed with excellence, and they are among the best blood pressure machines that deliver precise and accurate blood pressure and pulse readings. Digital monitors are preferred for measuring blood pressure. They are often easier to use than aneroid units. Digital monitors have a stethoscope and a gauge in a single unit, along with an error indicator. The blood pressure reading is displayed on a small screen; it may be easier to read than a dial. Digital monitors are suitable for hearing-impaired patients since there is no necessity to listen to heartbeats through stethoscopes.

Based on type, the blood pressure monitoring devices market is segmented into arm, wrist, finger, and others. In 2022, the arm segment held the largest share of the market and the same segment is estimated to register the fastest CAGR during 2022–2030. The finger-based blood pressure monitoring technology is similar to pulse oximetry, as it uses light that bounces off of the user’s finger to measure blood flow using a photoplethysmogram (PPG), which is interpreted with different algorithms. In May 2023, engineers at the University of California San Diego developed a simple, low-cost clip that uses a smartphone's camera and flash to monitor blood pressure at the user’s fingertip. The clip works with a custom smartphone app, and its production currently costs ~80 cents. The researchers estimate that the cost could be as low as 10 cents apiece when manufactured at scale. They claim that this device could help make regular blood pressure monitoring easy, affordable, and accessible to people in resource-poor communities. It could benefit older adults and pregnant women in managing conditions such as hypertension.

Based on end user, the blood pressure monitoring devices market is segmented into hospitals and clinics, home care settings, ambulatory surgical centers, and others. In 2022, the hospitals and clinics segment held a significant share of the market. The home care settings segment is estimated to register the fastest CAGR during 2022–2030. Hospitals and clinics are the primary healthcare providers in most countries. The American Heart Association, Inc. report states that the frequency of rhythm abnormalities in middle-aged to older adults is substantial. Atrial fibrillation, bradyarrhythmia, and conduction system diseases account for the majority of abnormal rhythm conditions. For example, cardiac arrhythmias affect at least 2.3 million people in the US, resulting in an increased risk of stroke and mortality. Additionally, 90,000 cases of supraventricular tachycardia are detected annually in the country, accounting for 25% of all emergency department visits for supraventricular tachycardia. An NCBI report states that 2,020 (36.1%) out of 5,585 hospital admissions for cardiac arrhythmias had concurrent arrhythmias. Thus, the rising number of multispecialty hospitals and people’s preference for hospitals and clinics over other healthcare facilities support the growth of the blood pressure monitoring devices market for this segment.

Regional Analysis:

Based on geography, the global blood pressure monitoring devices market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America. In 2022, North America held the largest share of the global blood pressure monitoring devices market. Asia Pacific is expected to register the highest CAGR during 2022–2030.

The blood pressure monitoring devices market in North America is split into the US, Canada, and Mexico. The growth of the market in this region is attributed to factors such as an increase in the incidence of cardiac diseases and the ongoing R&D to build novel sensor-based patient monitoring systems. Moreover, many major companies in the blood pressure monitoring devices market are headquartered in the region, which favors the market expansion across the region.

The US is the largest contributor to the blood pressure monitoring devices market in North America and the world. Coronary heart disease is a primary cause of death in the US. As the US is the largest economy in North America and the world, the country's population trend has a significant impact on the regional market, both positively and negatively. The growing geriatric population indicates the use of a large number of patient monitoring equipment in the country.

Blood Pressure Monitoring Devices Market Report Scope

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Industry Developments and Future Opportunities: 

Various initiatives taken by leading players operating in the blood pressure monitoring devices market are listed below:

1. In January 2023, Valencell launched its own branded product line in the Digital Health segment. The company’s first product candidate focuses on helping patients monitor and manage hypertension using an intuitive app combined with an innovative OTC device to precisely measure blood pressure from the finger without a cuff or calibration.
2. In Oct 2022, OMRON Healthcare upgraded its portfolio of blood pressure monitors by converting them into “connected” devices. This major upgrade in the portfolio was meant to help users and healthcare practitioners gain seamless, effortless, more real-time, and accurate control over hypertension management. The connected devices allow the blood pressure data to transfer effortlessly through the OMRON Connect application (app).

Competitive Landscape and Key Companies:

Omron Healthcare Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American Diagnostics Corp., Withings, GE Healthcare, Microlife AG, GF Health Products, Inc., Spacelabs Healthcare, and Baxter are the prominent blood pressure monitoring devices market companies. These companies focus on new technologies, existing products advancements, and geographic expansions to meet the burgeoning consumer demand worldwide.