The Business Research Company’s Wearable Blood Pressure Monitors Market Report – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 20, 2020 /EINPresswire.com/ — North America accounts for 33.7% of the global market, the largest region in the wearable blood pressure monitoring device market. It was followed by Western Europe, Asia Pacific and the other regions. Going forward, the fastest growing regions in the wearable blood pressure monitors market will be Asia Pacific and Eastern Europe, where growth will be at CAGRs of 15.3% and 11.4% respectively from 2019-2023. The wearable blood pressure monitors industry manufactures upper arm blood pressure monitors, wrist blood pressure monitors, and finger blood pressure monitors. The upper arm blood pressure monitor market was the largest segment of the wearable blood pressure monitor market by product, accounting for $485.8 million or 55.6% of the total market in 2019. The finger blood pressure monitor market is expected to be the fastest-growing segment going forward at a CAGR of 15.6%.
The top growth potential in the wearable blood pressure monitor market by product will arise in the wrist blood pressure monitor market, which will gain $246.8 million in global annual sales by 2023. The top growth potential in the wrist blood pressure monitor market by product type will arise in the watch market, which will gain $214.0 million in global annual sales by 2023. The wearable blood pressure monitors market size will gain the most in the USA at $132.0 million.
The global wearable blood pressure monitor market size reached a value of nearly $874.1 million in 2019, having grown at a compound annual growth rate (CAGR) of 21.1% since 2015, and is expected to grow at a CAGR of 11.6% to nearly $1,356.4 million by 2023. The market is expected to grow at a CAGR of 15.3% to nearly $1,803.7 million by 2025, and at a CAGR of 15.4% to $3,686.6 million by 2030.
Wearable blood pressure monitor companies are focusing on employing artificial intelligence applications to build intelligent processes to optimize revenue gains. Artificial Intelligence (AI) is a machine-based learning which makes use of human intelligence functionalities such as reasoning and problem-solving abilities to obtain insights and provide useful information. AI in wearable blood pressure monitors drives innovation through its implementation of data and data-driven insights, notifies the individuals when abnormalities related to their blood pressure occur, and allows physicians to have real-time insight into their blood pressure, activity, and sleep. For instance, in 2019, OMRON Health collaborated with physIQ, a US based health care analytics company, to integrate its HeartGuide wearable blood pressure monitoring device to physIQ’s pinpointIQ AI platform. The integration enables the user to view the trend and history of their activities and health conditions. Such technological application popularizes the devices in the market.
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Source: EIN Presswire