Coronary Pressure Monitors Market Analysis

Global Coronary Pressure Monitors Market

Coronary Pressure Monitors Market Size was valued at USD 29.65 Billion in 2023. The Global Coronary Pressure Monitors industry is projected to grow from USD 32.6 Billion in 2024 to USD 41.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.45% during the forecast period (2024 - 2032).

Blood pressure variability is a key factor in diagnosing any chronic condition. Major companies, including SunTech Medical Inc., Omron Healthcare, Inc., and others, have recently introduced a variety of cutting-edge blood pressure monitoring devices that can detect temperature, irregular heartbeats, vital signs, and more. Additionally, the rising shift from hospital care to home care settings and rising awareness of cardiovascular diseases among the general public are driving up demand for home blood pressure monitors, which is expected to fuel the market's overall growth opportunity throughout the forecast period.

During the European Congress of Radiology in 2022, Philips Healthcare exhibited its new AI-supported technologies and solutions.

In May 2021, Biobeat declared that it had launched a chest-mounted ABPM wearable for continuous ambulatory blood pressure monitoring.

In January 2020, SunTech Medical Inc. disclosed the creation of a collaborative agreement to develop novel blood pressure measurement solutions that could improve patient safety significantly.

It is a wrist-worn cuff-free solution that provides real-time measurements for better management of people living with hypertension and other cardiovascular disorders; this medical device is called LiveOne and was invented by LiveMetric. It has wristbands made of nano-sensor technology, which can monitor blood pressure every 10 seconds.

Launched by InBody in 2022, this at-home automatic blood pressure monitor called InBody BP 170 has a large display for optimal visibility.

Medical Xpress reported in March 2024 that remote patient monitoring of BP has increased due to COVID-19 and Medicare payment adjustments.

This example highlights OMRON Healthcare’s intentions as one of the market leaders in January 2024 to grow its business by at least thirty percent, targeting respiratory disease management even beyond remote patient monitoring into the heart health segment.

OMRON installed VitalSightTM, a remote patient monitoring program for high blood pressure, at Mount Sinai Hospital in New York City in August 2020. Hypertensive patients can submit their daily home readings through the telemedicine program VitalSightTM using a specialized communications hub or “OMRON connect” health management application directly to the hospital’s EMR system. This enables healthcare providers (doctors and nurses) to electronically collaborate through patients’ records about them and their conditions across various teams within such facilities.

Biobeat announced the launch of its new wearable and continuous ambulatory blood pressure monitoring kit in May 2021.

Raumedic introduced Raumed Home ICP, a home-use Raumed system, to the market in January 2020 for patients with hydrocephalus. The patient may walk and perform their daily activities freely during the measurement.

In January 2021, Omron Healthcare, Inc., a global leader in Remote Patient Monitoring and personal heart health technology. VitalSight is a home kit that patients receive with an Omron-connected blood pressure monitor along with a preset data hub to share reports with the physician and care team through the Electronic Medical Record (EMR) system. It introduced VitalSight, the first easy-to-use remote blood pressure monitoring service designed specifically for high-risk hypertensive patients.

COVID-19 Impact Analysis

The market has benefited from the COVID-19 pandemic. Several studies revealed that comorbid illnesses, such as hypertension, were linked to patients' having covid-19 that was more severe. For instance, it was shown that one of the most prevalent comorbidities in hospitalized COVID-19 virus patients in 2020, according to a paper released by Springer Nature Limited, is hypertension. As a result, the general public and the patient population with COVID-19 placed a greater emphasis on regular checkups, increasing the use of BP monitors. This has a substantial impact on the demand for this product.

Coronary Pressure Monitors Market Dynamics

The market for single-use blood pressure transducers is growing quickly. These transducers transmit data from a catheter used for blood pressure monitoring to a patient's monitoring system. The need for disposable blood pressure transducers may rise due to advantages, including strong structural integrity, air-ingress safety, and high reliability.

Market Drivers

• An increase in the growing rates of diabetes, cardiac arrest, and hypertension.

The World Health Organization (WHO) estimates that 1.28 billion persons aged 30 to 79 have hypertension worldwide. Nearly 46% of adults with hypertension are ignorant of their disease. Therefore, reducing the number of instances of hypertension requires early diagnosis. Blood pressure monitors are necessary for this. In addition, a  goal for non-communicable diseases is a 33% reduction in the prevalence of hypertension. As a result, each of these variables contributes to the development of the market for blood pressure monitoring devices.

Market Restraints

• High cost of machines to curb the market growth

There needs to be more use of these monitors in many developing nations. In addition, the expensive cost of these devices prevents these nations from embracing new and cutting-edge technology. For instance, according to Cleveland Clinic, the retail price of this device varies depending on the type of device, from USD 40 to USD 60. Despite new companies entering the market with inexpensive devices, customers in low-income countries appear to pay higher average retail costs of the market for blood pressure monitoring equipment. Additionally, certain automatic and manual monitors need more validation and accuracy to lead to accurate data. This is causing a decline in the use of these devices by healthcare workers and the general public. For instance, a 2020 study by the American Heart Association, Inc. found that 93.4% of the 972 BP monitors that were evaluated were not validated. These devices were sold online in Australia.

Market Opportunities 

• Patients are increasingly moving from hospital to home care settings.

Numerous governments are implementing lockdowns in various locations and delaying elective procedures. Additionally, patients are more likely to use home care equipment in this era of community transmission, and home care settings are becoming more prevalent. Most important businesses, including Omron Healthcare, Inc., and others, are continually releasing new BP monitoring devices to address the unmet demands of home care patients. Digital blood pressure monitors and wearable technology are some of these gadgets. They accurately measure anomalies in heart rhythm, body temperature, and blood pressure. For instance, Aktiia SA introduced a 24/7 automated blood pressure monitoring device in January 2021 that continuously tracks the patient's blood pressure while asleep.

Coronary Pressure Monitors Market Segmentation

Device Insights

Based on the device, the coronary pressure monitors market segmentation is sphygmomanometer, automated blood pressure monitor, bp transducers, and ambulatory blood pressure monitor. In 2021, automated blood pressure monitors accounted for the largest market share due to the launch of several displays with enhanced features in this market compared to other products. The device's degree of precision is another important factor in the segment's success in this market. However, the sphygmomanometer is estimated to register the highest growth rate during the forecast period because of its high degree of efficacy and low price; the sphygmomanometer segment has a substantial market share.

End User Insights

Based on end user, the coronary pressure monitors market segmentation is divided into hospitals & clinics, home healthcare, and others. The home healthcare category dominated the market for coronary pressure monitors in 2021. This is brought on by patients' preference for receiving care at home rather than in a hospital, which has increased the use of home monitors. The hospitals & clinics category is anticipated to witness significant growth over the forecast period. This is because more people are going to the doctor for routine examinations, driving up the demand for accurate blood pressure monitoring equipment in hospitals and clinics.

Global Coronary Pressure Monitors Market Share, by Region, 2021 (%)Coronary Pressure Monitors Market Overview, by Region

By region, the market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.

North America

North America dominated the market share in 2021. The number of people with high blood pressure is quickly rising in this area. For instance, a report by Statistics Canada estimates that 5,570,200 Canadians had high blood pressure as of 2019. As a result, there is a noticeable rise in the need for diagnostic tools, propelling the market's expansion. In addition, it can also hold the dominant market position because of the significant direct presence of well-known market leaders, including Hill-Rom Holdings Inc., in this area. 

Europe

Europe accounted for the second-largest market share in 2021. The coronary pressure monitors market growth in this region is because many people are suffering from hypertension, which has raised the demand for these products.  players are concentrating on R&D and inorganic methods, such as mergers and acquisitions, to meet this rising need. For instance, Koninklijke Philips N.V. collaborated with Rennes University Hospital in France in January 2021 to improve the product portfolio for diagnostics, interventional imaging, and patient monitoring. 

Coronary Pressure Monitors Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The participants are focusing their efforts on promoting R&D. Additionally, they support strategic expansion activities, including product introduction, joint ventures, and partnerships to expand their client base and boost their market position. For instance, in December 2022, The NMPA of China approved Lepu Medical Technology (Beijing) Co. Ltd.'s disposable micro-guidewire. The micro-guidewire was authorized for fractional flow reserve (FFR) assessments in adult patients with coronary artery lesions during coronary angiography and interventional procedures. Beijing, China-based Lepu Medical was verified to BioWorld. 

Prominent players in the coronary pressure monitors market research include 

• Koninklijke Philips N.V. (Europe)


• Medtronic (Europe)


• Omron Corporation (Asia-Pacific)


• General Electric Company (United States)


• Drägerwerk AG & Co. KGaA (Europe)


• Rossmax International Ltd. (Asia-Pacific)


• A&D Medical Inc. (Asia-Pacific)


• American Diagnostics Corp. (U.S.)

Scope of the Coronary Pressure Monitors Market Segmantation

Device Outlook

• Sphygmomanometer


• Automated Blood Pressure Monitor


• BP Transducers


• Ambulatory Blood Pressure Monitor

End User Outlook

• Hospitals & Clinics


• Home Healthcare


• Others

Region Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Coronary Pressure Monitors Market Forecast & Size

To identify and estimate the market size for the coronary pressure monitors market report, segmented by device and end user by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the coronary pressure monitors market forecast, between 2024 and 2032

Market Landscape and Trends

To identify and infer the drivers, restraints, opportunities, and challenges in the coronary pressure monitors market growth

Market Influencing Factors

To find out the factors which are affecting the coronary pressure monitors market size

Impact of COVID-19

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling

To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Coronary pressure monitors producers


• Raw material suppliers


• Retailers, wholesalers, and distributors


• Governments, associations, and industrial bodies


• Pharma companies