The size of the North America Blood Pressure Monitoring Devices Market is expected to value USD 2017.67 million by 2027 from USD 1458.91 million in 2022, growing at a CAGR of 6.70% during the forecast period.
The North American blood pressure monitoring devices market is majorly driven by the prevalence of hypertension owing to the changes in lifestyles, rising incidence of chronic diseases, and the rapidly increasing geriatric population across the region. Also, the surge in the healthcare expenditure in the developed countries such as the United States and Canada are expected to uplift the market growth. In addition, improvement in devices for measuring blood pressure is positively impacting the market growth. Another important factor driving the market growth is technological advances such as mobile BP monitoring systems and digital sphygmomanometers.
The demand for blood pressure monitors is relatively high, owing to the expanding elderly population and the increased risk of lifestyle-related illnesses across a broad population as a result of rising obesity and sedentary lifestyle rates. In addition, because of the related benefits such as wireless transfer of patient information and ease of use, wearable and portable gadgets and mobile phones are gaining popularity.
Furthermore, government initiatives such as public blood pressure monitoring programs to raise public awareness and preserve the information produced by remotely operated BP monitors are projected to fuel development throughout the forecast period. For example, The Integrated Health Model Initiative (IHMI), a project supported by the American Medical Association (AMA), introduced a data management model in February 2019 to provide possibilities to enhance health outcomes.
Moreover, emerging technologies such as mHealth, which promotes treatment and medication compliance for patients with chronic diseases, are likely to drive market expansion. In addition, it aids in tracking a patient's health information, prescription regimen, and therapy follow-up; therefore, the market is expected to grow as a result of these benefits.
As the global prevalence of hypertension rises, so does the need for home monitoring equipment. Furthermore, advantages associated with automated devices, such as repeated blood pressure readings to ensure accuracy and methane devices, contribute to market growth. As a result of the related benefits such as good monitoring, detection, and control, self-measurement devices are expected to gain popularity throughout the forecast period. For blood pressure measurement, automated blood pressure monitors come in various shapes and sizes, including the arm, wrist, and finger.
However, Stringent rules and regulations by the government in approving new devices restrict the growth of the blood pressure monitoring devices market. Also, due to a scarcity of experienced specialists in addressing system failure in real-time applications, the market's growth is being slowed.
This research report segmented and sub-segmented the North America Blood Pressure Monitoring Devices market into the following categories:
Geographically, the North American market led the global blood pressure monitoring devices market in 2020, accounting for a share of 51% in the overall market. The growth of the North American market is majorly driven by the increasing healthcare investments in developing accurate and effective BP monitoring devices, advancing healthcare infrastructure, and awareness about the importance of early diagnosis of hypertension and cardiac diseases. In the recent owing to the emergence of the global pandemic, SARS-COV-2 has accelerated the demand for home healthcare. The United States and Canada are largely contributing to the market share and expanding the North American market growth. Over the forecast period, the United States dominated the blood pressure monitoring devices market. Growing demand for proactive monitoring is more likely to provide growth opportunities for the market players in the country. New product releases and technical developments in the U.S are expected to expand the market growth. In May 2018, Hill-Rom introduced Welch Allyn home blood pressure monitors and digital scales in the United States. The Canadian blood pressure monitoring devices market is anticipated to witness a moderate share in the coming years.
KEY MARKET PLAYERS:
Some of the promising companies operating in the North America blood pressure monitoring devices market are GE Healthcare, Welch Allyn, A&D Medical Inc., SunTech Medical, Rossmax International Ltd., Spacelabs Healthcare Inc., Panasonic Corporation, Philips Healthcare, Contec Medical Systems Co. Ltd, Omron Healthcare, and Microlife AG.
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