The global Wearable Blood Pressure Monitor Market size totaled USD 1.8 Billion in 2021. The sales of wearable blood pressure monitors are expected to surpass a valuation of USD 2.1 Billion by 2022, exhibiting growth at a remarkable CAGR of around 15% to 16% during the forecast period 2022 to 2032.
The demand for wearable blood pressure monitors is estimated to reach around USD 8 Billion by the end of 2032.
| Report Attribute | Details |
|---|---|
| Wearable Blood Pressure Monitor Market Base Year Value (2021) | USD 1.8 Billion |
| Wearable Blood Pressure Monitor Market Expected Value (2022) | USD 2.1 Billion |
| Wearable Blood Pressure Monitor Market Anticipated Value (2032) | USD 8 Billion |
| Wearable Blood Pressure Monitor Market Projected Growth Rate (2022 to 2032) | 15% to 16% CAGR |
Wearable blood pressure monitors are electronic devices used to constantly monitor and track the fluctuation in the individual's blood pressure. These devices are relatively smaller as compared to the traditional blood pressure devices and can be worn on the wrist, fingertips, and upper arms.
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Due to increasing stress levels, changing eating habits, and growing fast-paced lifestyle, there is a substantial rise in the prevalence of lifestyle diseases such as hypertension, blood pressure-related ailment, and others worldwide, creating strong demand for associated monitoring devices.
With growing trend of adopting smart wearable and wireless technologies, customers are increasingly spending on smart devices for keeping a track of physical variables such as heartbeat, blood pressure, blood oxygen level, and others. This is projected to create growth prospects in the global wearable blood pressure monitor market.
Although there are a number of advantages associated with wearable blood pressure monitors, extravagant cost of these electronic devices and lack of precision & accuracy as compared to traditional blood pressure monitors is hindering the sales in the market.
In addition to this, compatibility issues with other devices and need to recharge among others are some other factors impeding the growth in the wearable blood pressure monitor market.
As per Future Market Insights, North America is forecast to account for the lion’s share in the global wearable blood pressure monitor market between 2022 and 2032.
A significant surge in the burden of cardiovascular, irregular heartbeats, hypertension, and hypotension among others is being witnessed across North America, due to the adoption of a sedentary lifestyle, resulting in the fueling the demand for associated diagnosis devices.
For instance, according to a study by the Centers for Diseases Control and Prevention, more than 116 million people, or around 47% of the overall population across the USA are reported to be suffering from hypertension.
As wearable blood pressure monitors are increasingly being adopted by the patients, owing to their ability to constantly track and monitor blood pressure, growing prevalence of such diseases is projected to augment the demand in the North America market.
FMI reveals that China is anticipated to emerge as a highly lucrative market for wearable blood pressure monitors during the forecast period 2022 to 2032.
With increasing tech-savvy population and growing adoption of innovative wearable technologies among modern customers, demand for wearable electronic devices is growing at a rapid pace. Hence, key manufacturers in the market are focusing on launching novel devices with advanced tracking and monitoring technologies.
For instance, in 2021, Huawei Technologies Co., Ltd., a Chinese multinational technology corporation announced introducing its new smartwatch, Huawei Watch D, with a blood pressure monitoring feature. A multiplicity of such new product launches are estimated to drive the sales in the China market.
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Some of the leading players in the wearable blood pressure monitor market are OMRON Corporation, Pyle Audio, Blipcare, Koninklijke Philips N.V., Nokia Corporation, ForaCare Suisse AG, Qardio, Inc., iHealth Labs Inc., Koogeek Inc., Inventum Huishoudelijke Apparaten B.V., Xiaomi, Medaval Ltd., and others.
Attributed to the presence of such high number of participants and increasing emphasis on the development and launch of for novel products, the market is highly competitive.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 15% to 16% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, Connecting Technology, Indication, Measurement Type, End User, Region |
| Countries Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific Excluding China and Japan; China; Japan; Middle East and Africa |
| Key Companies Profiled | OMRON Corporation; Pyle Audio; Blipcare; Koninklijke Philips N.V.; Nokia Corporation,; ForaCare Suisse AG; Qardio, Inc.; iHealth Labs Inc.; Koogeek Inc.; Inventum Huishoudelijke Apparaten B.V.; Xiaomi, Medaval Ltd.; Others |
| Customization | Available Upon Request |
FMI projects the sales of wearable blood pressure monitor in the market is expected to rise at 15% to 16% value CAGR by 2032
The global wearable blood pressure monitor market is expected to be dominated by North America over the forecast period 2022 to 2032.
OMRON Corporation, Pyle Audio, Blipcare, Koninklijke Philips N.V., Nokia Corporation, ForaCare Suisse AG, Qardio, Inc., iHealth Labs Inc., Koogeek Inc., Inventum Huishoudelijke Apparaten B.V., Xiaomi, Medaval Ltd., and others are some of the leading players in the key wearable blood pressure monitor market.
| Market Value (2023) | USD 268.7 million |
|---|---|
| Market Value (2033) | USD 859.1 million |
| Market CAGR (2023 to 2033) | 12.3% |
| Market Value (2023) | USD 7.4 billion |
|---|---|
| Market Forecast Value (2033) | USD 16 billion |
| Market Expected CAGR (2023 to 2033) | 8% |
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