Pune, India, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The global blood pressure monitors market is set to gain traction from the increasing shift of patients from hospital care to home care devices because of the ongoing COVID-19 pandemic. Renowned companies, such as Omron Healthcare, Inc. are persistently striving to launch technologically advanced devices to cater to the huge demand from patients.
This information is given by Fortune Business Insights™in an upcoming report, titled, "Blood Pressure Monitors Market, 2021-2028." As per the report, the market size was USD 1.49 billion in 2020. It is projected to grow from USD 1.68 billion in 2021 to USD 3.21 billion in 2028 at a CAGR of 9.8% in the forecast period during 2021-2028.
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COVID-19 Impact-
Surging Cases of COVID-19 and Prevalence of Hypertension to Aid Growth
The outbreak of the COVID-19 pandemic has had a positive impact on this market. As per Springer Nature Limited, hypertension was the most common comorbidity in 2020 in hospitalized patients infected with coronavirus. Hence, the increasing cases of COVID-19 and the rising emphasis on routine check-ups among the general population would aid the market growth. We are providing in-depth research reports to help you better understand thecurrent scenario of this market amid the pandemic.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/blood-pressure-monitors-market-100059
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 9.8% |
| 2028 Value Projection | USD 3.21Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 1.68 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 117 |
| Segments covered | By Product Type, By Geography |
| Growth Drivers | The increasing prevalence of chronic ailments, especially hypertension worldwide is set to propel the blood pressure monitoring market growth in the near future. |
| Many private healthcare organizations and government bodies of various countries are also conducting awareness programs to educate people about the effective management of hypertension. |
Segments-
Digital BP Monitors Segment Held 66.6% Share in 2020:Fortune Business Insights™
By product, the industry is trifurcated into sphygmomanometer, ambulatory BP monitors, and digital BP monitors. Out of these, the digital BP monitors segment earned 66.6% in terms of the blood pressure monitoring devices marketshare in 2020. It is expected to remain at the forefront in the upcoming years because of the high accuracy levels of these devices.
Report Coverage-
The research report focuses on analyzing the blood pressure monitors industry by taking into consideration contributions, prospects, and growth trends. It presents detailed profiles of key players present in the market to determine their competencies in each segment. Besides, it ensures to help our clients better understand the competitive landscape, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.
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Drivers & Restraints-
Increasing Awareness of Effective Management of Hypertension to Bolster Growth
The increasing prevalence of chronic ailments, especially hypertension worldwide is set to propel the blood pressure monitoring market growth in the near future. As per a report by Pan American Health Organization, more than 30.0% of the adult population in 2020 were suffering from hypertension. Many private healthcare organizations and government bodies of various countries are also conducting awareness programs to educate people about the effective management of hypertension. However, the use of blood pressure monitors in emerging nations is limited compared to developed nations. It may hinder growth.
Regional Insights-
Rising Cases of Hypertension to Favor Growth in North America
In North America, the market stood at USD 0.63 billion in 2020. Statistics Canada, for instance, mentioned that approximately 5,570,200 Canadians were living with high blood pressure till 2019. Therefore, the demand for BP monitors is anticipated to increase rapidly in the upcoming years in this region. On the other hand, Europe is set to showcase significant CAGR in the blood pressure monitors marketbecause of the rising prevalence of hypertension and the surging population. Koninklijke Philips N.V., for instance, joined hands with Rennes University Hospital, France in January 2021, to enhance its product portfolio of monitoring, interventional imaging, and diagnostics of patients.
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Competitive Landscape-
Key Companies Focus on New Product Launches through Collaborations
The global market contains a large number of prominent companies that are constantly trying to develop unique devices to cater to the demand from patients across the globe. To do so, they are joining hands with local or reputed firms. Below are the two industry developments:
- July 2020:OMRON Healthcare, Inc.and Mount Sinai Health System collaborated to provide patients with the VitalSight™ home blood pressure monitoring solution. It would provide better care to patients living with hypertension.
- January 2020: SunTech Medical partnered up with Valencell Inc.to co-develop novel blood pressure measurement solutions for improving patient safety.
A list of renowned manufacturers ofblood pressure monitors operating in the global market:
- Omron Healthcare, Inc. (Kyoto, Japan)
- Hill-Rom Holdings, Inc. (Indiana, United States)
- Nihon Kohden Corporation (Tokyo, Japan)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Masimo (Irvine, California)
- Beurer GmbH (Ulm, Germany)
- GE Healthcare (General Electric Company) (Chicago, United States)
- American Diagnostic Corporation (Sweden, Europe)
- SunTech Medical, Inc. (Morrisville, United States)
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