Global Wearable Blood Pressure Monitor Market to observe a surge in revenues with a 15.14% CAGR by 2026
Published | August 2020
Global Wearable Blood Pressure Monitor Market size is expected to reach USD 3771.52 billion by 2026 from USD 1405.83 billion in 2019, at a CAGR of 15.14 % from 2020 to 2026. Increase in the prevalence of chronic diseases and an increase in surgeries that need continuous monitoring drive growth in the demand of Wearable Bluetooth Monitor Device Market. Also, increasing awareness about a healthy lifestyle among citizens and their interest in tracking health records to prevent diseases induce the growth of the Wearable Blood Pressure Monitor Market.
The government initiatives, such as the Public Blood Pressure (BP) Check-up program to create alertness amongst people and maintain the database created by remotely operational BP monitors, are anticipated to push further development during the estimated period. Wearable blood pressure monitor devices continuously monitor blood pressure even during activities like exercises, sleep, etc. using technology linked to the person's body.
With extensive use of wearable technologies for healthcare services, the necessity for assessing the correctness and the precision of these health tracker devices has increased in recent years. Studies showed that wearable technologies lack accuracy and precision and rising concerns about precision are likely to affect market growth. Accuracy is essential for critical heart and hypertension conditions of a patient as well as for their timely medications and treatment where any wrong interpretation can be harmful.
"Home Healthcare dominates the End-Use Segment."
Based on End Use, Global Wearable Blood Pressure Monitor Market is segmented into Home Healthcare, Remote Patient Monitoring, and Sports & Fitness. Home healthcare is anticipated to exhibit a sturdy CAGR over the projection period. The cost-competency of the substitute in the form of smart wearables for BP checking, offering mobility is likely to support market growth. Ageing population around the world, increased patient preference for value-based healthcare combined with independent living are anticipated to fuel the demand for BP monitors.
"Rise in hypertension and cardiovascular disorders and Technological advancement are the key drivers in the growth of Global Wearable Blood Pressure Monitor Market."
Increasing incidence of hypertension and cardiovascular disorders and the rise in the ageing population propel the development of wearable blood pressure monitors. Lifestyle changes mainly cause hypertension, and the adoption of a sedentary lifestyle and, the increasingly fast-paced lifestyle has led patients to the use of compatible, easy to use wearable blood pressure monitors. Also, the rise in adoption of wireless and wearable technology drives the development of wearable blood pressure monitors.
"North America dominates the Global Wearable Blood Pressure Monitor Market."
North America takes the maximum share of the Wearable blood pressure monitor market. Increased adoption of advanced technology, a rise in healthcare spending, and substantial health awareness in the region propel the growth of the Wearable blood pressure monitor market. However, the Asia Pacific region is expected to have a significantly high growth rate due to the increasing ageing population, rise in hypertension patient pool in the region, and need for continuous or periodic monitoring of patients.
"The leading players" operating in the Global Wearable BP Monitor Market are Alphabet Inc. (Google Inc.), Enlitic Inc., General Vision, Intel Corporation, IBM Corporation, Microsoft Corporation, Nvidia Corporation, Next IT Corp., Welltok Inc., and GE healthcare. Other players are Adheretech, Allscripts, Cerner Corporation, Diabetizer, Medtronic, Proteus Digital Health, and Qualcomm Life, and others.