Blood Pressure Measuring Devices Market By Product (Sphygmomanometer/Aneroid BP Monitor, Automated/Digital Blood Pressure Monitor, Ambulatory Blood Pressure Monitor, Transducers, Instruments and Accessories) By End-use (Hospitals, Ambulatory Surgical Centers & Clinics, Homecare), Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Blood Pressure Measuring Devices Market size is expected to be worth around USD 13 Billion by 2033, from USD 5 Billion in 2023, growing at a CAGR of 10.1% during the forecast period from 2024 to 2033.

The Blood Pressure Measuring Devices Market has undergone significant growth and innovation in recent years, primarily driven by the increasing prevalence of hypertension and cardiovascular diseases globally. Hypertension is defined as having a systolic blood pressure higher than 130 mmHg, a diastolic blood pressure higher than 80 mmHg.

The blood pressure monitoring devices play a crucial role in monitoring and managing blood pressure levels, aiding healthcare professionals in diagnosing and treating patients effectively. The various types of devices used for blood pressure monitoring include automated blood pressure monitors, ambulatory blood pressure monitors, sphygmomanometers, and blood pressure cuffs. Each of the devices offers unique features and functionalities, thus catering to a variety of patient and healthcare needs.

•  According to the American College of Cardiology,the global death toll attributed to cardiovascular diseases (CVD) rose from 12.4 million in 1990 to 19.8 million in 2022, reflecting factors such as global population growth, aging demographics, and the impact of preventable metabolic, environmental, and behavioral risk factors.
• As per an article by the World Health Organization, around 1.28 billion adults between the ages of 30 and 79 worldwide have hypertension, with the majority, approximately two-thirds, residing in low- and middle-income countries.

Key Takeaways

• The global Blood Pressure Measuring Devices Market generated a revenue of USD 5.0 billion in 2023, and is anticipated to reach USD 13.0 billion by 2033, with a CAGR of 10.1%.
• In 2023, the aneroid blood pressure monitors or sphygmomanometers segment maintained its leading position, accounting for over 38.9% of the total revenue in the Blood Pressure Measuring Devices Market.
• The market is categorized based on end-users into hospitals, Ambulatory Surgical Centers (ASCs), and homecare settings, with hospitals capturing the largest share of more than 67.1% of the overall revenue in 2023.
• North America continued to dominate the market, holding a revenue share exceeding 40.5% in the same year.

Product Analysis

In 2023, the aneroid blood pressure monitors or sphygmomanometers segment secured the largest share, accounting for over 38.9% of the total revenue in the Blood Pressure Measuring Devices Market. This dominance is primarily attributed to the significant demand for these devices.

The growth of the segment is propelled by continuous technological enhancements, such as advancements in wearable technology, applications, and mobile devices within the consumer healthcare segment. Furthermore, the average selling prices for both retailers and manufacturers have been on the decline. This contributes significantly to the overall market expansion.

End-Use Analysis

Based on end-users, the global Blood Pressure Measuring Devices Market is classified into 3 distinct segments, namely hospitals, Ambulatory Surgical Centers (ASCs), and homecare settings. Among these segments, hospitals remained the primary end-users of blood pressure monitoring devices, and held the largest share of 67.1% of the overall revenue in 2023.

This significant share can be attributed to the substantial patient population that hospitals cater to. The adoption of blood pressure monitoring devices in hospitals is fueled by the increasing demand for cost-effective and precise diagnostic tools. Such tools are crucial for achieving favorable health outcomes for patients.

Key Market Segments

By Product

• Sphygmomanometer/Aneroid BP Monitor
• Automated/Digital Blood Pressure Monitor
  • Arm
  • Wrist
  • Finger
• Ambulatory Blood Pressure Monitor
• Transducers
  • Disposable
  • Reusable
• Instruments and Accessories
  • Blood pressure cuffs
  • Others

By End-use

• Hospitals
• Ambulatory Surgical Centers & Clinics
• Homecare

Drivers

Increasing Prevalence of Cardiovascular Disorders

One of the primary drivers of the Blood Pressure Measuring Devices Market is the escalating prevalence of hypertension globally. Hypertension, or high blood pressure, is a major risk factor for cardiovascular diseases, strokes, and other health complications. As the population ages and lifestyles change, the incidence of hypertension continues to rise, driving the demand for blood pressure monitoring devices for early detection, diagnosis, and management.

According to the World Health Organization, approximately 50% of the global population affected by hypertension is currently unaware of their condition. This increased awareness and diagnosis of hypertension fuel the market for blood pressure measuring devices across healthcare settings, including hospitals, clinics, pharmacies, and home healthcare.

Restraints

High Costs

High costs remain a significant concern in the Blood Pressure Measuring Devices Market, thus posing a significant threat to market growth. This is especially apparent in areas with limited healthcare budgets, reduced reimbursement rates, and economic fluctuations. Furthermore, cutting edge blood glucose monitoring devices are often expensive.

Such advanced blood pressure monitoring devices incorporate digital features, and AI integration, thus resulting in higher initial costs and increased maintenance expenses, compared to traditional manual devices. This price discrepancy can impede adoption rates, especially among smaller healthcare facilities, clinics, and underprivileged populations.

Opportunities

One of the major opportunities for the market is remote patient monitoring powered by electronic connectivity. Remote patient monitoring solutions for blood pressure monitoring allows blood glucose monitoring devices to be connected with healthcare centers. This, in turn, allows healthcare providers to monitor the blood pressure levels of their patients remotely. Such technology enables collection of real-time data, allowing healthcare providers to intervene in case of abnormal readings or fluctuations.

Furthermore, the demand for wearable and home-based blood pressure measuring devices is growing. This is attributed to the rise of telehealth services and connected health platforms. Such devices facilitate continuous monitoring and virtual consultations, while securing high patient engagement. This presents opportunities for device manufacturers, software developers, and healthcare providers to collaborate with ease, ultimately improving patient outcomes, and reducing overall healthcare costs.

Another opportunity lies in personalized medicine approaches tailored to individual patients’ blood pressure profiles, risk factors, and treatment responses. AI-driven algorithms, machine learning models, and big data analytics enable healthcare providers to analyze complex data sets, identify predictive biomarkers, and develop personalized treatment plans for hypertension management.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic factors such as economic growth, inflation rates, and healthcare spending play a significant role in shaping the Blood Pressure Measuring Devices Market. Countries with robust economic growth and increasing healthcare expenditures tend to allocate more resources towards medical devices, including blood pressure monitoring devices, leading to market expansion, technological advancements, and adoption of innovative solutions. Conversely, economic downturns, recessions, and budget constraints can impact healthcare budgets, reimbursement policies, and purchasing decisions, affecting market demand, pricing strategies, and market competitiveness.

Geopolitical factors and regulatory environments influence the Blood Pressure Measuring Devices Market through healthcare policies, regulatory frameworks, and market access requirements. Regulatory agencies such as the Food and Drug Administration (FDA) in the United States, the European Medicines Agency (EMA) in Europe, and national regulatory authorities worldwide set standards, certifications, and quality assurance guidelines for medical devices, including blood pressure measuring devices.

Latest Trends

There is a growing trend towards wearable and portable blood pressure measuring devices that offer convenience, mobility, and continuous monitoring capabilities. These devices, such as smartwatches, wristbands, and cuffless monitors, allow for non-invasive, unobtrusive blood pressure monitoring throughout the day, capturing fluctuations, trends, and personalized insights for better hypertension management.

The integration of sensors, Bluetooth connectivity, and AI algorithms enhances device accuracy, user experience, and data analysis, driving adoption among tech-savvy consumers and healthcare professionals. AI and machine learning technologies are increasingly being applied to blood pressure measuring devices for advanced data analytics, predictive modeling, and personalized treatment recommendations.

AI algorithms can analyze large datasets, detect patterns, predict risk factors, and stratify patients based on their blood pressure profiles, enabling targeted interventions, risk reduction strategies, and precision medicine approaches. These AI-driven insights empower healthcare providers to deliver more tailored, effective care, optimize treatment regimens, and improve patient outcomes in hypertension management.

Regional Analysis

North America is leading the Blood Pressure Measuring Devices Market

North America maintained its stronghold on the market by securing a revenue share of 40.5% in 2023. The continual monopoly of the region is primarily credited to the rising incidence of hypertension in the region. According to the Center for Disease Control and Prevention, approximately 48.1% of adults in the US, which accounts for around 119.9 million individuals, have hypertension.

The substantial investments in the region aimed at enhancing the accuracy and efficacy of blood pressure monitors are anticipated to drive market expansion as the forecast period progresses. Moreover, the introduction of new products and technological advancements encourages further growth in the industry.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia-Pacific is projected to experience a period of unmatched growth during the forecast period, accompanied by a substantial CAGR. This growth can be attributed to several factors, including untapped market opportunities, increasing investments by manufacturers, rising public awareness, and growing incidence of hypertension. The growth of the region is to be helmed by the rapidly advancing healthcare infrastructure in the region. Such infrastructure leads to a rise in undiagnosed and untreated cases of high blood pressure, thus encouraging market expansion. Furthermore, government initiatives aimed at raising public awareness and the ever-increasing cases of hypertension also support market expansion in Asia-Pacific.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

In the Blood Pressure Measuring Devices Market, key players hold significant market shares, driving competition and innovation. Companies such as Omron Healthcare, A&D Medical, Hill-Rom Services, and GE Healthcare, are among the leading players in this sector. Omron Healthcare, known for its advanced blood pressure monitors and innovative technologies, has a strong presence in both home and clinical settings. A&D Medical, with its focus on accuracy and reliability, appeals to healthcare professionals and institutions seeking high-quality blood pressure measuring devices.

These key players continuously invest in research and development to introduce new features, and improve device accuracy. They also engage in tactics such as strategic partnerships, collaborations with healthcare providers, and marketing initiatives to expand their reach among the target clientele. As the demand for easy-to-use blood pressure measuring devices continues to grow, competition among these key players drives the growth of the Blood Pressure Measuring Devices Market.

Top Key Players in Blood Pressure Measuring Devices Market

• Omron Healthcare
• A&D Medical Inc.
• American Diagnostics Corp.
• GE Healthcare
• Rossmax International Ltd.
• GF Health Products Inc.
• Philips Healthcare
• Hill-Rom Services Inc.
• Braun Healthcare
• Other Key Players

Recent Developments

• In March 2023, Royal Philips, a prominent player in health technology (NYSE: PHG, AEX: PHIA), has unveiled Philips Virtual Care Management. This innovative portfolio offers a range of adaptable solutions and services aimed at enhancing patient engagement and connectivity for health systems, providers, payers, and employer groups across diverse locations. The condition-specific protocols within Philips Virtual Care Management currently cover diabetes, hypertension, heart disease, and other health concerns.
• In April 2024, GE Healthcare, headquartered in Chicago, has successfully completed its acquisition of MIM Software, a company specializing in AI and imaging solutions. This acquisition marks an expansion of GE Healthcare’s digital imaging portfolio, strengthening its capabilities in the healthcare industry.

Report Scope