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HEALTHCARE & PHARMACEUTICAL

Blood Pressure Monitors Market Analysis by Product Type (Aneroid BP Monitors, Sphygmomanometers, Digital BP Monitor, Ambulatory BP Monitors); and by End User (Hospitals, Home Health Care, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • General Electric Company and Tribun Health collaborated to provide digital pathology departmental solutions that give healthcare providers a broader perspective on patient health data. 

  • Medtronic Plc has announced that it has obtained FDA approval and CE approval for its new cardiac patient monitoring system. 

Global Blood Pressure Monitors Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~12%

Base Year Market Size (2023)

~USD 1 Billion

Forecast Year Market Size (2033)

~ USD 2.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global blood pressure monitors market is estimated to garner a revenue of ~USD 2.5 Billion by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 1 Billion in the year 2023. The growth of the market can be attributed primarily to the rising number of people suffering from hypertension worldwide. The global population is becoming more occupied with their career and other aspects of life and not paying attention to their mental health. According to World Health Organization, as a result of hypertension, there is an increased likelihood of a heart attack, stroke, or kidney failure. It is estimated that there are 1.28 billion adults worldwide aged 30-79 years with hypertension, with 66% living in low- and middle-income countries.  

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Blood pressure monitors, or blood pressure gauges, are devices used to measure blood pressure by compressing and then releasing the artery under the cuff in a controlled fashion, and measuring the pressure with mercury or aneroid manometers. Moreover, increasing awareness of routine checkups, advancements in monitoring blood pressure with mobile devices and digital sphygmomanometers, increased purchasing power, the popularity of Wearable & portable devices along with innovative product launches by key manufacturers are projected to drive global blood pressure monitors market growth over the forecast period. For instance, in June 2019, A&D Medical Company, a global leader in blood pressure monitoring solutions, launched a new line of professional blood pressure monitors that enable healthcare professionals to diagnose hypertension accurately and monitor blood pressure over time. 

Global Blood Pressure Monitors Market: Growth Drivers and Challenges

Growth Drivers

  • Increase in Geriatric Population- Approximately 747,238,580 people over the age of 60 are estimated to be living around the world at the end of 2021, according to a recent report by the World Bank. Future projections predict an increase in the number. As the geriatric population grows and lifestyle-associated disorders become more prevalent among a wider population due to obesity and sedentary lifestyles, BP monitors have become very popular. Keeping blood pressure under control was critical even before COVID-19, and is even more so now. Routine checkups among older people is essential to keep trach of blood pressure, this factor is expected to propel demand for blood pressure monitors over the forecast period.

  • Rising Prevalence of Chronic Diseases Worldwide- According to the Centers for Disease Control and Prevention, 6 out of 10 adults in the United States suffer from a chronic disease.

  • Surge in Exports of Medical Devices- Data from the International Trade Centre (Trade Map) shows that the value of medical devices exported globally was USD 134,418,270 in 2018, growing to USD 153,157,380 in 2020.

  • Increasing Medicare Expenditure- As per the data by Centers for Medicare & Medicaid Services, the medicare budget is rose by 3.5% to USD 829.5 billion in 2020, which represents 20% of the total national health care budget.

  • Rising Cases of Atrial Fibrillation (AFib) Around the World- One of the most common heart arrhythmias treated is atrial fibrillation. Generally, arrhythmias are caused by fast or irregular heartbeats. Centers for Disease Control and Prevention estimated that 12.2 million Americans will suffer from atrial fibrillation by 2030. There were 183,321 deaths in 2019 with AFib listed as an underlying cause of death for 26,535 of them.

Challenges

  • High Cost of Advanced Monitoring Devices

One of the major factors to affect the growth of the global blood pressure market negatively is the higher cost associated with monitoring devices. Monitoring devices comprises many expensive components to provide results with accuracy, hence, the price of these devices also increases.

  • Lack of Awareness in Developing Countries

  • Battery-Dependent Digital Devices

The global blood pressure monitors market is segmented and analyzed for demand and supply by product type aneroid BP monitors, sphygmomanometers, digital BP monitor, and ambulatory BP monitors. Among these segments, the ambulatory BP monitors segment is anticipated to capture the largest market size in the global blood pressure monitors market owing to technological advancements in healthcare and the emergence of innovative products by key market players. For instance, Biobeat announced in June 2021 the availability of disposable and easy-to-use ABPM system, which allow physicians to monitor the patient's cardiac data out-of-the-office environment, providing physicians with a comprehensive, accurate, and unbiased view of their patient's health. With an ambulatory blood pressure monitor, patients can record blood pressure readings over a 24-hour period, regardless of whether they are awake or asleep.

Global Blood Pressure Monitors Market Regional Synopsis

Regionally, the global blood pressure monitors market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the developed healthcare infrastructure and the rising prevalence of heart diseases. According to the Centers for Disease Control and Prevention, cardiovascular disease is the leading cause of death in the United States, with one person dying every 34 seconds. In 2020, about 697,000 Americans died from heart disease. Moreover, growing investment in accurate and effective blood pressure monitors, technological advancements, and new product launches, coupled with an increase in undiagnosed and untreated high blood pressure cases, is further expected to fuel the market growth.

blood pressure market share

Market Segmentation

Our in-depth analysis of the global blood pressure monitors market includes the following segments:

          By Product Type

  • Aneroid BP Monitors
  • Sphygmomanometers
  • Digital BP Monitor
  • Ambulatory BP Monitors

           By End User

  • Hospitals
  • Home Health Care
  • Others

Top Featured Companies Dominating the Global Blood Pressure Monitors Market

  • American Diagnostic Corporation

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Withings Briggs Healthcare
  • Rossmax International Ltd.
  • Spacelabs Healthcare
  • A&D Company
  • Braun Healthcare
  • Biobeat

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