Blood Pressure Monitoring Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1905
Blood Pressure Monitoring Devices Market size is projected to experience significant growth from 2017 to 2024.
Blood pressure monitoring devices market size should witness significant growth due to increased prevalence of hypertension over the last few years. According to WHO, hypertension causes around 17 million deaths every year. Increasing unhealthy lifestyle habits such as smoking, sedentary lifestyle and presence of clinical conditions such as diabetes will serve to be a positive impact rendering factor.
Prevalence of hypertension further increase considerably with age. As per National Center for Health Statistics, U.S., in 2015, prevalence of hypertension in people aged over 60 was around 64.9% and the prevalence should further rise in near future. The global increase in average age as well as absolute number of geriatric people will be a significant impact rendering factor. Moreover, demographic trends such as increasing life expectancy will further drive the blood pressure monitoring devices market over the forecast period.
Technological advancements pertaining to hypertension monitoring should propel the blood pressure monitoring devices market. Some of the recent technologies include devices that use sensor and computerized mathematical modeling for recording of pulse. The technologically advanced products are much more comfortable and easy to use compared to conventional equipment. Other latest technologies driving the business growth includes devices that uses Bluetooth and finger blood pressure monitor.
Increasing government initiatives aimed at preventing the deaths attributed to hypertension coupled with the growing demand for portable equipment will drive the hypertension monitoring devices market growth over the forecast period. Excessive cost for technological developments, lack of trained physicians coupled with the low awareness in underdeveloped countries and to some extent in developing nation may hinder the blood pressure monitoring devices market growth.
Automatic digital sphygmomanometer segment will show substantial growth owing to the advantages over the conventional mercury based equipment. These devices are compact, convenient, easy to use, eliminates chances of human error and provides accurate results. Home care devices segment will show at substantial growth due to increasing usage. Physicians are increasingly recommending use of home monitoring of blood pressure for patients with severe hypertension. The regular check-up at home for patients with hypertension allows greater control over the clinical condition. However, the accuracy issues with the results provided by the may hinder the demand.
Indian blood pressure monitoring devices market will witness significant growth due to growing patient pool. The high prevalence of obesity and diabetes will further drive the region growth. Public health England estimated that, around 13.4 million people in England have undiagnosed or GP recorded hypertension. The population of England is rapidly aging and average life expectancy is high. Favorable government initiatives such as ‘The Blood Pressure Action Plan’ will serve to be a positive impact rendering factor. The favorable demographic trends coupled with the high prevalence should boost UK hypertension monitoring devices market.
Some of the industry players include, Contec Medical Systems, General Electric Company, Koninklijke Philips, Halma, Smiths Medical, Omron, Welch Allyn, American Diagnostic, Spacelabs Healthcare, Rossmax International and Microlife. The industry players focus on strategic alliances and innovative product launch to expand their business portfolio as main strategies. For instance, Halma acquired SunTech medical group a supplier of hyper tension monitoring technologies and products. The acquisition extended Halma’s offerings in blood pressure monitoring devices market.
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