July 31, 2023 05:30 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, July 31, 2023 (GLOBE NEWSWIRE) -- The global blood pressure monitors market size was valued at USD 1.60 billion in 2022. The market is projected to grow from USD 1.73 billion in 2023 to USD 3.10 billion by 2030, exhibiting a CAGR of 8.8% during the forecast period. Baby Heart Fetal Doppler
Blood pressure (BP) variations or fluctuations are essential in diagnosing any chronic disease. In recent years, prominent players, consisting of Omron Healthcare, Inc., SunTech Medical Inc., and others, have introduced a variety of unique blood pressure monitoring devices not only for the detection of blood pressure but also to detect the vital signs, temperature, heart rate abnormalities, and more.
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February 2022: InBody Pvt. Ltd. introduced the launch of BP 170, an automatic blood pressure monitor. These blood pressure monitors allow individuals to self-record and track primary health metrics without visiting their doctor.
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Increasing Occurrence of Chronic Diseases to Drive Market Growth
Globally, the occurrence of chronic diseases, including hypertension, is growing rapidly. The government of different countries, as well as private healthcare organizations, are constantly promoting awareness of the effective management of hypertension. This leads to increased self-diagnosis processes and routine checkups among common people, resulting in the rising demand for BP monitors. Lack of inaccuracy and the validation of some automatic and manual monitors is resulting in incorrect measurements hence, restricting the blood pressure monitors market growth.
Digital BP Monitors Segment Held the Largest Share with Introduction of Monitors with Advanced Features
On the basis of products, the market is segmented into sphygmomanometers, digital BP monitors, and ambulatory BP monitors. The digital blood pressure monitors segment held the highest blood pressure monitors market share due to the introduction of various monitors with advanced features in this segment.
Home Healthcare Segment Dominated Due to Rising Adoption of the Product
Based on end-user, the market is divided into home healthcare, hospitals & clinics, and others. The home healthcare segment dominated the market in 2022 due to adoption of blood pressure monitors. Among end-user, the home healthcare segment dominated
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North America Dominated the Market Owing to Rising Demand for Diagnostic Devices
North America dominated the market growth owing to increasing demand for diagnostic devices in the region. Moreover, the robust direct presence of key players, such as Hill-Rom Holdings Inc., in this region also allows it to hold the dominant market position.
Europe is estimated to register a steady CAGR during the projected 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.
Introduction of Various Products such as Omron Healthcare, Inc. to Lead to their Dominance
Omron Healthcare, Inc., Nihon Kohden Corporation, and Hill-Rom Holdings, Inc., 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 significant factors primarily responsible for the dominance of these players.
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