Roughly 55 million people in South East Asia are potential customers for home-use blood pressure monitors. With relatively larger, older, and more urbanized populations, Indonesia and Philippines comprise the largest addressable populations for home-use blood pressure monitors. The largest addressable market in the region is Malaysia, where a larger proportion of the population enjoys middle-class or higher income levels.
Addressable population is defined as the maximum number of potential customers in a country. The estimate has been calculated using a bottom-up approach, assuming purchase by hypertensive patients who typically live in urban areas. An additional filter of middle-class or higher income level has been applied to estimate addressable market value. Population surveys commissioned by health ministries and international research initiatives indicate that hypertension, diabetes, heart disease and stroke have become widely prevalent in South East Asia. Especially among urban populations, incidence of these conditions is expected to rise further along with changes in affluence, diet, activity and environment. There is also a marked growth in awareness of such ‘lifestyle’ diseases, and interest in monitoring and treating them.
In a recently concluded Clearstate study, the South East Asia market for home-use blood pressure monitors was estimated at roughly USD 13 million in 2008, from approximately 570,000 units sold. Though sales slowed in the aftermath of the global financial crisis, they are expected to pick up again. Double-digit growth (on average, at a compound annual growth rate of 15%) is expected across South East Asian countries until 2010, when the market is projected to reach roughly USD 30 million from 1.4 million units sold.
Digital blood pressure monitors (both wrist and upper arm) are preferred for home use in almost all countries in the region, surprisingly even in emerging economies like Vietnam. The exception is the Philippines, where both aneroid and digital blood pressure monitors continue to be sold for home use. Some outpatient clinics and hospitals still buy aneroid blood pressure monitors, which are perceived to be more accurate and cost-effective. However overall there is a clear trend towards digitalization.
