Increasing global geriatric population, rising burden of age-related diseases including hypertension, and significant advances in healthcare technology are some of the key factors expected to boost market revenue growth
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:
Increasing global geriatric population, rising incidence of age-related health disorders and lifestyle-induced diseases such as hypertension, diabetes, and obesity, growing burden of heart diseases, and rapid advancements in healthcare technology are key factors expected to drive market revenue growth over the forecast period. As per a 2019 report published by the World Health Organization, nearly 1.15 billion people worldwide were diagnosed with hypertension. In addition, the global market revenue growth is driven by factors such as rapid introduction of digitalized and sensor-based blood pressure monitoring solutions for higher accuracy and faster results, rising trend of mHealth (mobile health), increasing use of mobile-based and self-measurement blood pressure monitoring devices in hospitals, clinics, and homecare settings, and increased government investments in R&D activities for new and advanced products.
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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:
Based on product type, the sphygmomanometers segment dominated other product type segments in terms of revenue share in 2020. Increasing prevalence of chronic diseases such as hypertension, obesity, diabetes, and cardiovascular disorders, growing use of digital sphygmomanometers and sensor-based blood pressure monitoring devices, and rising healthcare expenditures among individuals are major factors driving revenue growth of this segment.
Hospitals Segment Accounted for Fastest Revenue CAGR in 2020:
Based on end-use, the hospitals segment registered the fastest revenue growth rate in the global blood pressure monitoring devices market in 2020. Revenue growth of this segment is significantly driven by increasing government initiatives towards healthcare infrastructure development, rising adoption of digitalized and mobile-based blood pressure monitoring solutions, and rising demand for more advanced and cost-effective diagnostic tools and solutions in healthcare settings.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America blood pressure monitoring devices market accounted for the largest revenue share in the global market in 2020. Growing prevalence of hypertension and cardiovascular diseases, significantly changing lifestyle habits, increasing demand for mobile-based blood pressure monitoring solutions, and rise in research & development activities for new and more advanced products are key factors driving revenue growth of the North America market.
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; 2018-2028)
- Sphygmomanometers
- Digital Blood Pressure Monitors
- Ambulatory Blood Pressure Monitors
- Instruments & Accessories
- Transducers
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Air pressure-based
- Digital
- Aneroid
- Sensor-Based
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Homecare Settings
- Others
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Region Outlook (Revenue, USD Billion; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- 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
- A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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