Blood Pressure Monitors Market Size, Share & COVID-19 Impact Analysis, By Product (Sphygmomanometer, Digital BP Monitors, and Ambulatory BP Monitors), By End-user (Hospitals & Clinics, Home Healthcare, and Others), and Regional Forecast, 2023-2030

The blood pressure monitors market size was valued at USD 1.60 billion in 2022 and is projected to grow USD 1.73 billion in 2023 to USD 3.10 billion by 2030, exhibiting a CAGR of 8.8% during 2023-2030. North America dominated the global market with a share of 42.5% in 2022.

Blood pressure fluctuation plays a crucial role in the diagnosis of any chronic disease. In recent years, major players, including SunTech Medical Inc., Omron Healthcare, Inc., and others, have launched a variety of innovative blood pressure monitoring devices not only for detecting blood pressure but also to detect the temperature, heart rate abnormalities, vital signs, and more.

The increasing prevalence of cardiovascular diseases, such as cardiac arrhythmia, hypertension, and others, are leading to the rising diagnostics procedures and significantly boosting the demand for these monitoring devices worldwide. Additionally, the increasing awareness of cardiovascular diseases among common people along with the rising shift from hospital care to home care settings are surging the demand for home blood pressure monitors and are subsequently set to fuel the blood pressure monitors market growth during the forecast period.

COVID-19 IMPACT

Increasing Usage of Blood Pressure Monitors for Diagnosis of Comorbidities Related to COVID-19 Boosted Market Growth

The COVID-19 pandemic had a positive impact on the global market in 2020. Various studies suggested that the presence of comorbid conditions, including hypertension, was associated with increased severity of COVID-19 among patients.

• For instance, according to a report published by Springer Nature Limited, in 2020, it was observed that hypertension is one of the most common comorbidities in hospitalized patients suffering from the COVID-19 virus.

Due to this, the focus on routine checkups increased among the general population, as well as the patient population suffering from COVID-19, leading to the surging use of BP monitors. This, in turn, increased the demand for this device significantly. Moreover, the market players also experienced significant growth in the revenue generated from its blood pressure monitoring devices portfolio. For instance, Omron Healthcare, Inc. generated a revenue of USD 0.94 billion in 2020 from its healthcare business segment, experiencing a growth of 9.9% from the prior year.

Apart from this, the government and other private organizations also emphasized on the use of different BP monitors to control the blood pressure of patients during this pandemic.

• For example, the American Heart Association (AHA), American Medical Association (AMA), and others are taking active participation in promoting the awareness of blood pressure monitors by publishing several guidelines during the pandemic.

However, post COVID-19 outbreak the global market experienced a slow growth in 2022. Market players also experienced slow growth in the revenue generated from its blood pressure monitor portfolio. For instance, Omron Healthcare, Inc. generated a revenue of USD 1.00 billion in 2022 from its healthcare business segment, experiencing a growth of 7.3% from the prior year.

LATEST TRENDS

Increasing Shift of Patients from Hospital Care to Home Care Settings is an Ongoing Trend

The governments of many countries are imposing lockdowns in various areas and postponing elective surgeries. Also, in this era of community transmission, patients are more inclined towards home care devices, and a shift from hospital care to home settings is observed. In response to this shift, the majority of key players such as Omron Healthcare, Inc., and others are constantly introducing different BP monitoring devices to cater to the unmet needs of home care patients.

Some of these devices include digital BP monitors, wearable devices. They are capable of measuring blood pressure, along with body temperature and cardiac rhythm abnormalities accurately.

• For example, in January 2021, Aktiia SA launched a 24/7 automated blood pressure monitoring system that continuously monitors the blood pressure of the patient even when the patient is asleep.

DRIVING FACTORS

Rising Prevalence of Chronic Diseases to Propel Market Growth

Globally, the prevalence of chronic diseases, including hypertension, is increasing rapidly. For instance, according to a report by the Pan American Health Organization, in 2020, more than 30.0% of the adult population globally were affected by hypertension. Also, the government of different countries, as well as private healthcare organizations, are constantly promoting awareness of the effective management of hypertension. This is leading to increased self-diagnosis processes and routine checkups among common people, resulting in the rising demand for BP monitors. To cater to this unmet demand, key players of this market are introducing different devices with advanced features, such as data transfer via Bluetooth.

• For instance, in October 2020, Omron Healthcare, Inc. launched two new products, i.e., OMRON HEM-7361T and OMRON HEM-7156, in Indonesia with advanced screening technology and Bluetooth wireless connectivity.

This introduction increased the adoption rate of advanced BP monitors among healthcare facilities and is subsequently augmenting the blood pressure monitoring devices market growth.

RESTRAINING FACTORS

High Cost of Advanced Devices to Limit Adoption Worldwide

In many developing countries, the use of blood pressure monitors is very limited. Apart from this, the high prices of these devices are also restricting the adoption of new and advanced devices in these countries.

• For example, according to Cleveland Clinic, the retail prices of this device varies from USD 40 to USD 60 based on the type of device. Despite new players entering the market with low-cost devices, the average retail prices seem to be higher for people in low-income countries.

Apart from this, the lack of validation and the inaccuracy of some automatic and manual monitors is resulting in incorrect measurements. This is leading to the decreased adoption of these devices among healthcare professionals and the general population. For example, according to a study published by the American Heart Association, Inc., in 2020, the evaluation of roughly 972 BP monitors sold on online platforms in Australia revealed that 93.4% of these devices were non-validated.

SEGMENTATION

By Product Analysis

Digital BP Monitors Segment Dominated the Market in Terms of Share in 2020

Among products, the digital blood pressure monitors segment accounted for the highest market share in 2022 compared to other products owing to the introduction of various monitors with advanced features in this segment. Also, the accuracy level of this device is a key reason for the segment’s dominance in this market.

The sphygmomanometer segment captured a significant amount of share in the market due to its efficacy level and its low-cost structure. On the other hand, the ambulatory BP monitors segment is expected to register a significant CAGR attributed to the increasing adoption of these devices in ambulatory centers in many developed countries such as the U.S., Germany, France, and the U.K.

By End-user Analysis

Home Healthcare Segment to Register the Highest CAGR During the Forecast Period

Based on the end-user, the market is segmented in hospital & clinics, home healthcare, and others. The home healthcare segment dominated the market in 2022. The increasing patient preference towards digital blood pressure monitors, along with the rising adoption of these monitors is responsible for the segment’s dominance.

The hospital & clinics is expected to grow at a significant CAGR during the forecast period. The growth of the segment is attributed to the increasing number of healthcare facilities and growing number of hospital admissions globally.

The other segment is expected to witness a moderate CAGR during the forecast period due to the lack of technological advancements and the absence of skilled healthcare professionals to properly diagnose the blood pressure with advanced BP monitors.

REGIONAL INSIGHTS

North America dominated the blood pressure monitors market share, and was valued at USD 0.68 billion in 2022. In this region, the number of patients with high blood pressure is increasing rapidly.

• For instance, according to a report by Statistics Canada, until 2019, around 5,570,200 Canadians were living with high blood pressure.

Due to this, the demand for diagnostic devices is increasing in a significant way and, in turn, is accelerating the growth of the market in this region. Apart from this, the strong direct presence of prominent market leaders, such as Hill-Rom Holdings Inc., in this region is also enabling it to hold the dominant market position.

Europe is projected to register a steady CAGR during the forecast period. This is due to the rising number of patient populations suffering from hypertension in European countries, resulting in an increased demand for these products. In order to fulfill this emerging demand, the global players are focusing on R&D, and inorganic strategies, such as mergers and acquisitions.

• For example, in January 2021, Koninklijke Philips N.V. partnered up with Rennes University Hospital, France, to strengthen the product offerings for diagnostics, interventional imaging, and monitoring of patients.

On the other hand, the increasing geriatric population in Asia Pacific is resulting in the surging incidence of chronic diseases among them, such as hypertension, cardiovascular diseases, and others. Thus, the increasing patient pool of hypertension, along with the rising focus of key players in emerging markets, such as China, Japan, and others, is resulting in the growing demand and adoption of these monitors in the region.

Latin America and the Middle East & Africa are expected to register moderate CAGR during the forecast period. The lack of reimbursement policies for diagnostics procedures by governments or private insurers in these regions is significantly limiting the growth of the market in this region.

KEY INDUSTRY PLAYERS

Diversified Product Launches by Players to Lead to Their Dominance

Omron Healthcare, Inc., Hill-Rom Holdings, Inc., and Nihon Kohden Corporation are among the leading players in the global market. The introduction of advanced technology for blood pressure measurement and the acquisition of other market players to expand their product offerings are some of the key factors primarily responsible for the dominance of these players.

• For instance, in February 2021, Hill-Rom Holdings, Inc. acquired the contact-free continuous technology from EarlySense with a view to monitoring patients remotely.

Apart from this, other key players operating in the market are Koninklijke Philips N.V., Masimo, GE Healthcare (General Electric Company), American Diagnostic Corporation, Beurer GmbH, and SunTech Medical Inc. These players have increased their focus on expanding its production capacity in order to strengthen its market position.

• In January 2021, the Hungary government supported Beurer GmbH with USD 1.66 million to set up and expand its European production plant to manufacture medical devices.

LIST OF KEY COMPANIES PROFILED:

• Omron Healthcare, Inc. (Japan)


• Hill-Rom Holdings, Inc. (U.S.)


• Nihon Kohden Corporation (Japan)


• Koninklijke Philips N.V. (Netherlands)


• Masimo  (U.S.)


• Beurer GmbH (Germany)


• GE Healthcare (General Electric Company) (U.S.)


• American Diagnostic Corporation (Europe)


• SunTech Medical, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022 – Garmin Ltd. announced the launch of smart blood pressure monitor which can measure systolic and diastolic blood pressure at home easily.


• February 2022 – InBody Pvt. Ltd. announced the launch of BP 170, an automatic blood pressure monitor. These monitors provides individuals with an option to self-record and track major health metrics without visiting their doctor.


• May 2021 – Biobeat announced the launch of its new wearable continuous ambulatory blood pressure monitoring (ABPM) device.


• January 2020 – SunTech Medical, Inc. announced a collaboration with Valencell Inc., intending to develop new blood pressure monitoring solutions to increase patient safety.


• January 2019 – Omron Healthcare, Inc. announced the U.S. availability of a wearable oscillometric blood pressure monitor, HeartGuide, to monitor blood pressure at any time during work.

REPORT COVERAGE

The global blood pressure monitors market report provides a detailed analysis of the industry and focuses on key aspects, such as leading companies, products, and end-users. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.

Report Scope & Segmentation