BLOOD PRESSURE MONITORING DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Blood Pressure Monitoring Devices Market Drivers:

Increase in geriatric population

• Increase in geriatric population in both developed and developing nations is expected to drive blood pressure monitoring devices market. For instance, For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034. Thus, increasing geriatric population, which is at a higher risk to chronic conditions such as diabetes, cardiovascular disorders, and hypertension, is expected to boost the market growth.
• Moreover, independent living by geriatric population makes vital signs management, including blood pressure and heart rate monitoring, an important aspect of their health and well-being. This in turn is driving the growth of the global blood pressure monitoring devices market over the forecast period.

Increasing prevalence of hypertension

• Increasing prevalence of hypertension is expected to propel growth of the global blood pressure monitoring devices market over the forecast period. For instance, in September 2021, according to the article published in National Center for Biotechnology Information, in 2019, over 1 billion people with hypertension (82% of all people with hypertension in the world) lived in low-income and middle-income regions.
• Moreover, Hypertension, besides being the most prevalent, is also the leading cause of cardiovascular disease, premature mortality, and disability. It poses a significant economic burden. Nature Review states that awareness pertaining to hypertension and its treatment & management is significantly low in middle- income countries.

Global Blood Pressure Monitoring Devices Market Opportunities:

• R&D in blood pressure monitoring economies is expected to offer lucrative growth opportunities for players in the global blood pressure monitoring devices market. For instance, in September 2019, researchers from National Taipei University of Nursing and Health Sciences, Taiwan, reported that assessing the estimated Glomerular filtration rate, hypertension, body-mass index, and systolic blood pressure can be effective in modelling arterial stiffness risk assessments for community-dwelling individuals with a normal or slightly decreased estimated Glomerular filtration rate. 

• Lack of reimbursement policies: Unfavorable reimbursement policies are expected to hinder growth of the market. Reimbursement is not available for all types of blood pressure monitoring devices. For instance, in the U.S., Medicare provides reimbursement only for the ambulatory blood pressure monitors used for the diagnosis of white coat hypertension.   
• High cost of blood pressure monitoring devices: Many developing or impoverished countries have a very low prevalence of the use of blood pressure monitoring equipment. Aside from that, these nations are unable to implement cutting-edge technology due to the high expenses of blood pressure monitoring equipment. Therefore, the market growth over the forecast period is being constrained by the high cost of blood pressure monitoring equipment.