Blood Pressure Monitoring Devices Global Market 2024 To Reach $4.12 Billion By 2028 At Rate Of 7.9%

The Business Research Company's Blood Pressure Monitoring Devices Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global blood pressure monitoring devices market has demonstrated significant growth in recent years, expanding from $2.79 billion in 2023 to $3.04 billion in 2024, representing a compound annual growth rate (CAGR) of 8.8%. This surge is largely driven by the increasing prevalence of hypertension, a rising focus on preventive healthcare, the growing burden of lifestyle-related diseases, heightened awareness of health and wellness, and the expanding trend of home healthcare.
The market is expected to continue its upward trajectory, reaching $4.12 billion by 2028 at a CAGR of 7.9%. Key factors driving this growth include the rise of telehealth and remote patient monitoring, a growing emphasis on precision medicine, government initiatives for chronic disease management, a focus on patient-centric healthcare, and increasing healthcare awareness in emerging markets.

Healthcare Expenditure’s Impact Driving the Blood Pressure Monitoring Devices Market
The rise in healthcare expenditure is a crucial factor driving the expansion of the blood pressure monitoring devices market. Healthcare expenditure, which encompasses the total spending on healthcare-related goods and services within a given system, plays a vital role in enhancing the development and accessibility of blood pressure monitoring devices. For example, in November 2022, the Canadian Institute for Health Information reported a 0.8% increase in healthcare expenditure, reaching $331 billion in 2022, compared to a 7.6% rise in 2021. This increase in spending underscores the growing importance of healthcare, which in turn drives the demand for blood pressure monitoring devices.

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Major Players and Market Trends
Major companies operating in the blood pressure monitoring devices market include Rossmax International Ltd., Koninklijke Philips N.V., SunTech Medical Inc., Graham-Field Health Products Inc., Welch Allyn Inc., Microlife Corporation, and Omron Corporation. These companies are focusing on innovation and strategic acquisitions to maintain a competitive edge.
For instance, in February 2022, InBody, a South Korea-based healthcare company, introduced the BP 170 automatic blood pressure monitor. This device offers a user-friendly, clinically validated solution for self-monitoring blood pressure at home. The BP 170 features a one-touch cuff and a large digital display, making it easy to use for both home and professional purposes. Additionally, it is available with or without Bluetooth connectivity, catering to varying user needs.
In a strategic move to expand its digital health portfolio, CardieX, an Australian cardiovascular technology company, acquired Blumio in November 2022. Blumio is a US-based manufacturer of wearable blood pressure monitoring sensors, and this acquisition strengthens CardieX’s capabilities in the digital health space.

Segments:
• Product Type: Digital Blood Pressure Monitor, Sphygmomanometer, Ambulatory Blood Pressure Monitor, Instruments And Accessories, Transducers
• Technology: Digital, Aneroid, Wearable
• End User: Hospitals, Home-Care Settings, Ambulatory Surgical Centers, Other End Users

Geographical Insights: North America Leading the Market
North America dominated the blood pressure monitoring devices market in 2023 and is anticipated to maintain its leading position. The region's strong healthcare infrastructure, coupled with increasing health awareness and the adoption of advanced technologies, contributes to its leadership in the market.

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Blood Pressure Monitoring Devices Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Blood Pressure Monitoring Devices Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on blood pressure monitoring devices market size, blood pressure monitoring devices market drivers and trends, blood pressure monitoring devices market major players, blood pressure monitoring devices competitors' revenues, blood pressure monitoring devices market positioning, and blood pressure monitoring devices market growth across geographies. The blood pressure monitoring devices market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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