The global Blood Pressure Monitoring Devices Market is estimated to be valued at US$ 2 Bn or Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Blood pressure monitoring devices are medical devices used to measure and monitor blood pressure. Various devices are available including home monitoring, ambulatory monitoring and automated office blood pressure monitoring devices. These devices help in identifying hypertension, monitor blood pressure levels and help manage it effectively.
Market key trends:-
One of the key trends in the blood pressure monitoring devices market is the growing adoption of digital and home monitoring devices. With the developments in technology, manufacturers are focusing on developing digital blood pressure monitors which can easily connect to smartphones via Bluetooth or Wi-Fi. This allows monitoring of blood pressure remotely and sharing of reports with physicians digitally. Home blood pressure monitoring devices are gaining popularity as they enable continuous monitoring of levels and early detection of unhealthy fluctuations. The increasing preference for home healthcare is expected to drive the demand for digital and home use blood pressure monitors over the forecast period.
SWOT Analysis:-
- Strength: Growing awareness about benefits of regular blood pressure monitoring. Remote monitoring devices offer convenience to patients.
- Weakness: High cost of advanced blood pressure monitoring devices limits adoption. Accuracy issues exist with low-cost devices.
- Opportunity: Rising geriatric population increases demand. Untapped opportunities in developing regions.
- Threats: Data privacy and security concerns with connected devices. Reimbursement issues impact the market.
Key Takeaways:-
The Global Blood Pressure Monitoring Devices Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of hypertension and availability of advanced home-use monitoring devices.
The North America region is expected to dominate the global blood pressure monitoring devices market during the forecast period. This is attributed to the rising healthcare expenditure and growing obese and geriatric population susceptible to hypertension in the region.
Key players operating in the blood pressure monitoring devices market are GE Healthcare, Koninklijke Philips N.V., Welch Allyn, Spacelabs Healthcare, A&D Company, Limited, SunTech Medical, Inc., OMRON Healthcare, Inc., American Diagnostic Corporation, Withings, Briggs Healthcare, Kaz, Inc., GF Health Products, Inc., Rossmax International Ltd.
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