Blood Pressure Transducers Market

Global Blood Pressure Transducers Market Size (2023 to 2028)

The global blood pressure transducers market size is expected to be valued at USD 1247 million by 2028 from USD 933 million in 2023, growing at a CAGR of 5.98% from 2023 to 2028.

Global Blood Pressure Transducers Market Share Insights:

• Based on technology, the digital segment had a significant share in the global blood pressure transducers market in 2022 and is expected to grow at a healthy CAGR during the forecast period.

• Based on type, the reusable segment is expected to lead the market during the forecast period.

• The North America blood pressure transducers market is estimated to showcase the highest CAGR from 2023-2028.

Impact of COVID-19 on the global blood pressure transducers market:

The worldwide market for blood pressure transducers has seen both positive and negative effects from the COVID-19 epidemic. On the one hand, the increasing number of COVID-19 patients who need intense monitoring and control of their blood pressure has boosted the need for blood pressure transducers in critical care settings and favored market growth. On the other hand, the COVID-19 pandemic has caused severe disruption in the global supply chains that has a knock-on effect on the manufacturing and distribution of blood pressure transducers. The measures taken by the governments of several countries to limit the spread of COVID-19 among people such as lockdowns, travel bans and the shutdown of manufacturing facilities have resulted in the reduced availability of these medical devices to the needy and delayed the product launches. Such factors have shown an unfavorable impact on the global blood pressure transducers market.

MARKET DRIVERS:

The growing prevalence of cardiovascular disease, hypertension and high blood pressure majorly drive the growth of the blood pressure transducers market. Cardiovascular diseases and hypertension affect millions of people worldwide. The World Health Organisation (WHO) reports that hypertension kills more people than any other disease or condition. Stroke, heart attack and heart failure are some of the cardiovascular problems that may be brought on by consistently high blood pressure. The growing need for effective monitoring of hypertension and cardiovascular diseases has fuelled the use of blood pressure transducers. As a result of the precise and constant readings that blood pressure transducers offer, healthcare providers can better diagnose, monitor and treat these diseases.

The growing demand for continuous and non-invasive blood pressure monitoring promotes the blood pressure transducers market growth. Patients and healthcare professionals appreciate the convenience of blood pressure transducers as these devices measure blood pressure without any intrusive procedures. Non-invasive blood pressure monitoring is more comfortable and convenient for the patient compared to invasive approaches such as arterial catheterization. Critical care facilities including intensive care units (ICUs) and operating theatres have long recognized the value of continuous blood pressure monitoring.

The growing use of patient monitoring systems in healthcare settings contributes to the blood pressure transducers market growth. The demand for blood pressure transducers is also driven by the growing adoption of patient monitoring equipment by hospitals and clinics. Blood pressure, heart rate, respiratory rate and oxygen saturation are few of the physiological characteristics tracked by patient monitoring equipment. The healthcare facilities such as hospitals, clinics, ASCs and home healthcare facilities uses these systems for the continuous tracking of patients. The pursuit of personalised therapy, the prevalence of chronic illnesses and increasing need to lower healthcare costs drive the widespread use of patient monitoring systems.

MARKET RESTRAINTS:

Stringent regulatory requirements and approval processes and the high costs associated with blood pressure transducers majorly hamper the market growth. Limited reimbursement policies for blood pressure monitoring devices, poor awareness about the benefits and importance of blood pressure monitoring in some countries and technological limitations and complexities in blood pressure measurement further hinder the market growth. Competition from alternative blood pressure monitoring methods or devices, limited availability and accessibility of blood pressure transducers in certain regions or healthcare settings, concerns about the accuracy and reliability of blood pressure transducers and adverse events and safety concerns associated with blood pressure monitoring devices further impede the market growth.

REPORT COVERAGE:

This research report on the global blood pressure transducers market has been segmented and sub-segmented based on the technology, type, end-user, and region.

Blood Pressure Transducers Market – By Technology:

• Digital
• Wearable
• Others

Based on technology, the digital segment is predicted to hold the major share of the global market during the forecast period. The growing number of advancements in digital technology for accurate and real-time blood pressure monitoring, integration of digital blood pressure transducers with electronic health records (EHR) systems and rising demand for portable and user-friendly digital blood pressure monitoring devices drive the growth of the digital segment.

The wearable segment accounted for a considerable share of the global blood pressure transducers market in 2022 and is estimated to witness a notable CAGR during the forecast period owing to the growing adoption of wearable devices for continuous blood pressure monitoring, technological advancements in wearable blood pressure transducers, such as miniaturization and wireless connectivity and increasing awareness about the importance of proactive health monitoring and management.

Blood Pressure Transducers Market – By Type:

• Disposable
• Reusable

Based on type, the reusable segment is estimated to hold the leading share of the global market during the forecast period. Factors such as environmental sustainability concerns, increasing focus on reducing medical waste, cost savings associated with reusable blood pressure transducers over time and growing preference for durable and long-lasting devices in certain healthcare settings or applications drive the growth of the reusable segment.

Blood Pressure Transducers Market - By End-Use:

• Hospitals
• Ambulatory Surgical Centers & Clinics
• Homecare

Based on end-use, the hospital segment held the major share of the global market in 2022 and is anticipated to continue its domination in the global market throughout the forecast period. The growing patient volume visiting hospitals, the rising need for accurate blood pressure monitoring in various departments and units, the availability of specialized healthcare professionals and advanced medical infrastructure in hospitals and the growing prevalence of chronic diseases and cardiovascular conditions requiring regular blood pressure monitoring primarily drive the growth of the hospital segment.

The homecare segment is projected to witness a promising CAGR during the forecast period. The rising preference for home-based healthcare and remote patient monitoring, technological advancements in blood pressure monitoring devices for easy and accurate self-measurement, the increasing aging population and the growing need for chronic disease management at home propel the growth of the homecare segment.

Blood Pressure Transducers Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America held the leading share of the global market in 2022. The domination of the North American region in the worldwide market is anticipated to continue during the forecast period. North America is home to several key market players, which is one of the major factors propelling the North American market growth. The availability of well-established healthcare infrastructure and advanced medical technologies and the growing prevalence of cardiovascular diseases and hypertension in North America further fuel the growth rate of the North American market. Technological advancements in blood pressure monitoring devices, rapid adoption of home healthcare and remote patient monitoring and favorable reimbursement policies for medical devices promote the growth of the North American market. The U.S. held the largest share of the North American market in 2022 and is expected to play the dominating role in the North American region in the coming years. Factors such as the growing prevalence of hypertension and increasing healthcare expenditure in the U.S. drive the U.S. market growth.

Europe is a noteworthy regional market for blood pressure transducers and is estimated to hold a substantial share of the global market during the forecast period. The growing geriatric population prone to cardiovascular diseases, increasing healthcare expenditure and growing investments in healthcare infrastructure in Europe drive the European market growth. Supportive government initiatives for chronic disease management, raising awareness about the importance of blood pressure monitoring, increasing number of advancements in telehealth and remote patient monitoring technologies and a growing number of collaborations between healthcare providers and industry players further boost the growth rate of the European market.

APAC is predicted to register the highest CAGR in the global market among all the regions during the forecast period. Rapidly growing healthcare infrastructure and medical tourism, growing disposable income and healthcare expenditure, the presence of a large population base and rising prevalence of chronic diseases majorly drive the growth of the APAC market. The growing number of initiatives from the governments of APAC countries to improve healthcare accessibility and quality, technological advancements, increasing adoption of digital health solutions and emerging economies presenting untapped market potential further fuel the growth rate of the APAC market. China led the market in 2022 in the Asia-Pacific region, followed by India.

Latin America is estimated to account for a considerable share of the global market during the forecast period due to factors such as rising focus on improving healthcare infrastructure, growing prevalence of lifestyle-related diseases and hypertension and rising awareness about the importance of regular blood pressure monitoring.

The MEA market is expected to register a moderate CAGR during the forecast period in the global market.

KEY MARKET PLAYERS:

Omron Healthcare, Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American Diagnostics Corp., Withings, Briggs Healthcare, GE Healthcare, Kaz Inc., Microlife AG, Rossmax International Ltd., GF Health Products Inc. and Spacelabs Healthcare Inc. are some of the major players in the global blood pressure transducers market.

RECENT HAPPENINGS IN THE MARKET:

• The Vital Sync virtual patient monitoring technology was introduced by Medtronic plc in September 2021 and allows for remote monitoring of vital indicators, such as blood pressure. Healthcare providers can keep tabs on their patients in real-time and make educated judgments thanks to this technology.
• The Vyntus ABG blood gas analyzer system of Vyaire Medical, Inc. offers continuous monitoring of blood gas levels, including blood pressure introduced in August 2021. The system is intended to be simple to use while yielding trustworthy outcomes.