The Business Research Company’s Wearable Blood Pressure Monitor Industry Analysis Global Report 2020: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, July 1, 2020 /EINPresswire.com/ — Increased demand for patient monitoring devices is expected to drive the wearable blood pressure monitors market. The increasing prevalence of chronic diseases coupled with rise in surgeries that need continuous monitoring have mainly increased the demand for patient monitoring devices. Additionally, due to the growing awareness of healthy lifestyle and fitness, individuals are interested in continuous monitoring of their health as it acts as a preventive measure while improving their health condition. The National Wearable Survey report in 2018 by Valencell, a wearable technology company, states that two–third of customers owned a wearable device as they believe that it causes a positive impact on their health. Nearly 55% of the respondents are interested in monitoring their blood pressure, which is an increase from 46% in 2016. Therefore, increased demand for monitoring devices is expected to drive the wearable blood pressure monitors market.
The global wearable blood pressure monitors market size is expected to decline from $1.45 billion in 2019 to $1.42 billion in 2020 at a compound annual growth rate (CAGR) of -2.18%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The wearable blood pressure monitors market is then expected to recover and reach $2.25 billion in 2023 at CAGR of 16.59%.
The wearable blood pressure monitors market consists of sales of wearable blood pressure monitors and related services. The market comprises of revenue generated by business enterprises that manufacture, develop and sell wearable blood pressure monitors. Wearable blood pressure monitors are devices that continuously monitor blood pressure even during activities like exercises, sleep, etc. using technology that is connected to the person’s body. The data is stored and analyzed through an app.
The wearable blood pressure monitors market is segmented by product into wrist blood pressure monitor, upper arm blood pressure monitor, and finger blood pressure monitor. It is also segmented by technology into Wi-Fi based and Bluetooth-based.
Most wearable blood pressure monitoring technologies are under either experimental or research and development stage. Companies and researchers are studying different wearable technologies that monitor blood pressure. An example is using video from a smartphone to detect blood pressure by the variation in facial blood vessels. Valencell, a health-tech company, is working on an ear bud sensor for detecting blood pressure using photoplethysmography. Also, Akttia bracelet, a cuff-less technology that uses an optical sensor for monitoring blood pressure, is under validation. Therefore, more R&D in this field is expected to provide growth opportunities for the wearable blood pressure monitors market.
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Source: EIN Presswire