BLOOD PRESSURE MONITORING DEVICES MARKET ANALYSIS

Blood Pressure Monitoring Devices MarketSize and Trends

The global blood pressure monitoring devices market was valued at US$ 1.8 Bn in 2022 and is forecast to reach a value of US$ 3.9 Bn by 2030 at a CAGR of 10% between 2023 and 2030. The global blood pressure monitoring devices market is experiencing strong growth due to the increase in in geriatric population. Moreover, increasing prevalence of hypertension is expected to boost the market growth. However, factors such as lack of reimbursement policies are expected to hamper the market growth.

Market Trends:

Increasing production capacities

• Major players in the market are focused on increasing their production capacity in the wake of Covid-19 pandemic. For instance, in March 2020, Hillrom, Inc. announced that the company is doubling the production of ventilators, hospital beds, and vitals monitoring devices to support Covid-19 response.
• Major players in the market are also focused on providing services and products to at-risk Medicare Advantage members. For instance, in December 2019, Royal Philips collaborated with Humana Inc. to help improve care and health outcomes for select high-risk Medicare Advantage members. Under the collaboration, Humana has implemented two programs that leverage Philips’ medical alert services and remote member monitoring solutions to actively monitor at-risk Medicare Advantage members.