August 2020
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wearable blood pressure monitor market bwc20145
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 billion by 2026 from USD
1405.83 billion 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
Growth Drivers
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.
Restraint
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.
Competitive landscape
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.
Recent Developments
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
Attribute |
Details |
Years
Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast –
2020 – 2026 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South
Korea UAE, South Africa, Saudi Arabia. |
Product/Service Segmentation |
By Product, By
Indication, By Distribution Channel, By Application, By Region |
Key Players |
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. |
By Product
Ø Wrist Blood
Pressure Monitor
Ø Upper arm Blood
Pressure
Ø Finger Blood
Pressure Monitor
By Indication
Ø Hypertension
Ø Hypotension
Ø Irregular Heart
Beat
By Distribution Channel
Ø Online
Ø Offline
By Application
Ø Home Healthcare
Ø Remote Patient
Monitoring
Ø Sports &
Fitness
By Region
Ø North America
Ø Europe
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
We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at
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