Global Wearable Blood Pressure Monitor Market Size, By Product (Wrist Blood Pressure Monitor; Upper arm Blood Pressure, Finger Blood Pressure Monitor), By Indication (Hypertension, Hypotension, and Irregular Heart Beat), By Distribution Channel (Online, Offline), By Application (Home Healthcare, Remote Patient Monitoring, and Sports & Fitness), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), (Trend Analysis, Market Competition Scenario & Outlook, 2016-2026
- Published Date: August 2020
- Report ID: BWC20145
- Available Format: PDF
- Page: 173
Global Wearable Blood Pressure Monitor Market Size - Industry Trends & Outlook Report 2026
Global Wearable Blood Pressure Monitor Market is estimated to be USD 3771.52 Million by 2026 from USD 1405.83 Million in 2019, at a CAGR of 15.14 % from 2020 to 2026. The demand for patient monitoring devices is increasing due to a rise in the prevalence of chronic diseases and an increase in surgeries that need continuous monitoring. Additionally, due to the growing awareness about healthy routine and fitness, individuals are interested in frequent health checkups to prevent deterioration in health condition. Mobiles and Wearable & portable devices are gaining popularity as they enable the wireless transmission of patient details and secure handling. New technologies such as mHealth, which help in treatment & medication compliance for patients in chronic disease management, are expected to fuel the market development. It helps track the patient's health details, medication schedule, and follow up for the treatment. These associated benefits are some of the factors expected to propel growth.
Global Wearable Blood Pressure Monitor Market: Market Outlook and Trends
Wearable blood pressure monitors are quite smaller in comparison to the traditional blood pressure devices. Most wearable blood pressure monitors are numerical, and the new smart wearable blood pressure monitors function through apps. Wearable blood pressure monitors are accessible in three basic forms: upper arm blood pressure monitor, wrist blood pressure monitor, and finger blood pressure monitor. Amid all types of wearable blood pressure monitors, the wrist wearable blood pressure monitors are of particular interest due to their easy use and non-bulky look and design.
Increasing occurrence of hypertension and cardiac diseases, the surge in healthcare spending and the rise in adoption of wireless and wearable technology propel the development of wearable blood pressure monitors. Multiple kinds of wearable blood pressure monitors, including wireless upper arm monitors, bulky wrist monitors, and newly FDA approved watch types of blood pressure monitors. With advancements in technology, the acceptance of such wearable blood pressure monitors is expected to rise during the projection period, thereby motivating a significant growth of the wearable blood pressure monitor market.
However, high cost of wearable blood pressure monitors, lack of precision in comparison to conventional devices, and compatibility issues with other tools are some of the factors that may impede the development of the wearable blood pressure monitor market.
Global Wearable Blood Pressure Monitor Market
The rise in Hypertension and Cardiovascular Disorders
The increasing geriatric population with cardiovascular disorders triggers the demand for wearable blood pressure monitors. Also, a substantial rise has been noticed in hypertension among the population due to the fast-paced, demanding lifestyle. It also leads to demand for the wearable BP monitoring devices for constant monitoring of vital statistics.
The prevalence of diseases combined with technological advancement is expected to contribute significantly to the market during the forthcoming period.
Lack of accuracy and precision
With the growing use of wearable technologies for healthcare services, the requirement for assessing the correctness and the precision of these health tracker devices has increased in recent years. There are rising concerns about the accuracy of wearables as accuracy is very important for in cardiovascular and other critical conditions as their medications and treatment plan are based on the blood pressure readings. Any wrong interpretation could be harmful. Studies revealed that wearable technologies lack accuracy and precision, which is likely to affect market growth.
Impact of COVID-19 in industry
With Covid-19, infections are rising worldwide, and people have the apprehensions regarding lack of essential life-saving devices and other critical medical supplies to stop the spread of this pandemic and provide the best care to the infected ones. The cardiac patients, particularly elders, are at more risk of not getting timely diagnosis or treatment due to restrictions on medical practice. However, the wearable devices are useful for patients and medical practitioners in this situation for monitoring BP and for timely alerts in treatment and medications during the lockdown, driving its further market growth.
Global Wearable Blood Pressure Monitor Market: Segmentation
Based on End Use, Global Wearable Blood Pressure Monitor market is segmented into Home Healthcare, Remote Patient Monitoring, and Sports & Fitness. Home healthcare is expected to exhibit a sturdy CAGR of around 12.6% over the forecast period. The cost-efficiency of this alternate option for BP checking with the accessibility of smart wearables that offer mobility is likely to support the growth. Also, inclination towards independent living is expected to propel the home healthcare market.
Geographically, the Wearable Blood Pressure Monitor market has been separated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Global Wearable Blood Pressure Monitor Market: Regional Insights
North America secured the major market share in the Global Wearable Blood Pressure Monitor Market due to rising adoption of advanced healthcare technology among health-conscious citizens and robust healthcare sector. Factors such as the increasing occurrence of long-lasting and acute diseases such as hypertension and cardiac illnesses, technological advancements, acceptability of the non-invasive pressure monitors among the patients, and the existence of key market players in North America propel the development of this market. However, the Asia Pacific region is expected to have a significantly high growth rate due to the increasing elderly population, rise in hypertension patient pool in the region, and need for continuous or periodic monitoring of patients.
The major players in this market operate in North America. Some of the leading players in the Wearable blood pressure monitor market include Blipcare, iHealth Labs Inc., OMRON Corporation, Koninklijke Philips N.V., Pyle Audio, ForaCare Suisse AG, Qardio, Inc., Xiaomi, Medaval Ltd., Nokia Corporation, Koogeek Inc., and Inventum Huishoudelijke Apparaten B.V., among many others.
April 2016: Medopad, a digital health company that was renamed to Huma, acquires two artificial intelligence (AI) and wearable technology businesses in the UK, BioBeats and Tarilian Laser Technologies (TLT). The acquisition is expected to expand Huma's digital biomarker expertise, enabling it to incorporate mental and cardiovascular health data through its platform. Tarilian Laser Technologies is a United Kingdom-based digital health start-up manufacturing and developing wearable blood pressure monitors.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.
By Product, By Indication, By Distribution Channel, By Application, By Region
Blipcare, iHealth Labs Inc., OMRON Corporation, Koninklijke Philips N.V., Pyle Audio, ForaCare Suisse AG, Qardio, Inc., Xiaomi, Medaval Ltd., Nokia Corporation, Koogeek Inc., and Inventum Huishoudelijke Apparaten B.V. and other prominent players.
Ø Wrist Blood Pressure Monitor
Ø Upper arm Blood Pressure
Ø Finger Blood Pressure Monitor
Ø Irregular Heart Beat
By Distribution Channel
Ø Home Healthcare
Ø Remote Patient Monitoring
Ø Sports & Fitness
Ø North America
Ø Asia Pacific
Ø South America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and estimate the Global Wearable Blood Pressure Monitor Market size, in terms of value.
Ø To examine the market segmentation carefully and estimate the market size, in terms of value, based on the region by segmenting the Global Wearable Blood Pressure Monitor Market into five regions, namely, North America, Europe, Asia Pacific, Rest of the World and their leading countries.
Ø To outline, categorize and project the Global Wearable Blood Pressure Monitor Market based on Product, Indication, Distribution Channel, Application and Region.
Ø To examine competitive developments in applications, products and distribution channel within the Global Wearable Blood Pressure Monitor Market.
Ø To highlight market dynamics such as drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, their strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeaves Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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