According to the Centers for Disease Control and Prevention, high blood pressure is a high-priority risk in the U.S. In 2013, over 360,000 American citizens died from complications caused by high blood pressure. At least 7 out of 10 people who have their first heart attack are suffering from high blood pressure. In the U.K., more than 16 mn people have been diagnosed with high blood pressure. These statistics show how serious the problem is. While treatments and diagnostic solutions are showing a rapid rate of increase on a global scale, the global market for blood pressure monitoring devices is also something to be considered on priority for most players associated with the healthcare industry. Following are a few questions that might help an industry player ascertain market development factors.
Is the Current Rate of Development in Blood Pressure Monitoring Devices Sufficient?
That is hard to say for the near future, but currently, the demand is slightly higher than the supply, not because the supply is slow, but it is because the demand itself is accelerating too fast. The global blood pressure monitoring devices market is now ramping up its processes to keep up with these numbers. Even though it is an already established and almost mature market, at least in developing nations, the global blood pressure monitoring devices market continues to progress at a high rate of 7.3% between 2015 and 2023, according to Transparency Market Research. This market was already valued at US$2.0 bn in 2014, and if the current growth rate holds true, it will reach US$3.8 bn by the end of 2023. This is a lot to say about a market that is only based on measurement devices excluding diagnostics and therapeutics.
Are Developed Nations at Higher Risk of High Blood Pressure Issues?
It is a largely known fact that blood pressure issues are collectively one of the largest problems that several public health agencies are facing worldwide. This is especially the case in developed countries, owing to a high consumption rate of convenience foods, lack of physical activity and obesity, and a stressful career-oriented lifestyle. According to the CDC, at least 70 mn American citizens suffer from high blood pressure. That’s about 29% of the population, or 1 out of 3 American adults. Of the total number of high blood pressure patients in the U.S., only about half of them have their blood pressure situation under control. In the meanwhile, about 1 of every 3 adults in the U.S. reportedly has pre-hypertension. This is a condition where the numbers are not high enough to be considered a problem, but are still higher than normal. Owing to all these factors, the U.S. alone spends about US$46 bn on the various blood pressure treatment markets and industries per year.
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How are Masked and White-coat Blood Pressure Issues Influencing this Market?
Both white-coat and masked blood pressure readings are a major reason for inaccurate readings for a large percentage of patients. White-coat hypertension is when a patient shows a spike in blood pressure at the doctor’s office and no place else, while masked hypertension shows a lower blood pressure reading at the doctor’s office than elsewhere. Both situations are caused by an array of reasons, but both are responsible for misdiagnosis and wrong treatment. One of the more agreed upon solutions for this is the use of wearable technology that can allow the monitoring of blood pressure throughout the day. This will allow doctors to take an average reading and also help check the times of day when the blood pressure spikes. Wearable tech can also help diagnosing patients with pre-hypertension conditions.