The market size of electronic blood pressure monitors in China is gradually expanding, and it is expected to achieve domestic substitution in the future

【 Insight 】 The market size of electronic blood pressure monitors in China is gradually expanding, and it is expected to achieve domestic substitution in the future

At present, the pace of life in China is gradually accelerating, and the pressure of survival is increasing. Unhealthy eating habits, long-term staying up late, and other reasons can easily lead to hypertension, and the number of hypertensive patients is constantly increasing

Electronic blood pressure monitor refers to a medical device that uses modern electronic technology and the principle of indirect blood pressure measurement to measure blood pressure. Compared to traditional blood pressure monitors, electronic blood pressure monitors have advantages such as simple operation, long data storage time, and synchronous measurement of multiple parts. According to different measurement locations, electronic blood pressure monitors can be divided into watch type blood pressure monitors, arm type blood pressure monitors, wrist type blood pressure monitors, etc. As an effective tool for blood pressure measurement, electronic blood pressure monitors are mainly suitable for patients with hypertension or those who prevent hypertension and constantly monitor their physical condition.

In recent years, China's economic level has gradually improved, and the quality of life of residents has gradually improved. They are more concerned about their own health situation, and their concept of seeking medical treatment has gradually changed. The per capita healthcare expenditure has gradually increased. According to data released by the National Bureau of Statistics, in 2022, China's per capita healthcare consumption expenditure reached 2120 yuan, a year-on-year increase of 0.20%, accounting for 8.60% of per capita consumption expenditure. In addition, the aging population in China is gradually increasing, and the probability of various chronic and underlying diseases is gradually increasing, which is driving the continuous growth of demand in the medical device market in China. In this context, the scale of China's medical device market is gradually expanding. According to data released by the China Medical Device Special Committee, the size of China's medical device market reached 1.3 trillion yuan in 2022, with a compound annual growth rate of approximately 17.50%. As one of the segmented products of medical devices, the market for electronic blood pressure monitors is gradually growing.

According to the "2023-2027 Electronic Blood Pressure Monitor Benchmark Enterprises and Competitors Special Research Report" released by the Industry Research Center, at present, the pace of life in China is gradually accelerating, survival pressure is gradually increasing, unhealthy eating habits, long-term staying up late and tiring are all easy to cause hypertension, and the number of hypertensive patients is constantly increasing. According to data from the China Center for Disease Control and Prevention, approximately 245 million adults in China will suffer from hypertension in 2022, with a normal high value population of 435 million. As an important tool for measuring blood pressure, the market demand for electronic blood pressure monitors is constantly increasing. In this context, the market size of electronic blood pressure monitors in China is showing an increasing trend year by year. From 2018 to 2022, the size of China's electronic blood pressure market increased from 2.67 billion yuan to 7.13 billion yuan, with a compound annual growth rate of 27.83%.

Industry analysts say that there are a large number of electronic blood pressure monitor companies in China, with foreign companies mainly including Omron, Panasonic, AiAnde, Philips Medical, etc. Domestic companies mainly include Fulin Medical, Yuyue Medical, Youpin Medical, Changkun Technology, Good Nurse, Jiuan Medical, Lexin, Haier Medical, Lvyuan Hengtai, Fudakang, etc. Among them, foreign enterprise Omron has the largest market share, reaching 72.5%; Next is domestic enterprise Yuyue Medical, with a market share of 11.6%. At present, most of the electronic blood pressure monitor market in China is still occupied by foreign enterprises. However, as Chinese enterprises gradually improve product quality, enrich product functions, and enhance their competitiveness, it is expected to achieve domestic substitution in the future.