Blood pressure is considered as one of the main risk factors for chronic heart disease. Advanced blood pressure monitoringdevices are used for regular remote monitoring and transmission of the blood pressure data to the physicians. Factors such as increase in geriatric population, rise in inclination towards home monitoring, and upsurge in incidence rate of chronic diseases, such as cardiovascular disorders and obesity, are expected to drive the market. Moreover, innovations in blood pressure monitoring devices, (such as introduction of digital blood pressure monitors) and rise in awareness among patients regarding advanced devices are expected to fuel the market growth. However, lack of awareness about these devices in low- and middle-income economies hampers the market growth.
The global blood pressure monitoring devices market was valued at $1,981 million in 2015, and is estimated to reach $2,926 million by 2022, registering a CAGR of 5.7% from 2016 to 2022. Digital blood pressure monitoring devices segment held around two-fifths share of the total market in 2015.
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Digital blood pressure monitoring devices segment
is anticipated to dominate the global blood pressure monitoring devices market
owing to the increase in the global incidence of hypertension. However,
ambulatory blood pressure monitors segment is projected to be the fastest
growing segment, as a result of increase in the outpatient cases and
reimbursement support from the government.
Digital BP monitors at hospitals & clinics
segment is expected to dominate the global blood pressure monitoring devices
market, as these devices facilitate easy and early detection of a patients
deteriorating health condition, thereby, enabling speedy intervention and
diagnosis of diseases. However, the ambulatory BP monitoring devices at
ambulatory surgical centers (ASCs) market is projected to be the fastest
growing segment, owing to increase in the number of outpatient cases.
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North America was the highest revenue contributor
to the global revenue in 2015, accounting for about two-fifths share, and is
expected to maintain this trend. This is attributed to the increase in
prevalence of hypertension, growth in awareness among patients about
cost-effective blood pressure monitoring devices, and availability of advanced
healthcare facilities in North American countries. However, Asia-Pacific is
expected to grow at the highest rate, owing to its high population base,
incomes, and improvement in patient awareness about advanced blood pressure
monitoring devices.
The Major Key Players Are:
·
A&D Company, Limited
·
Contec Medical Systems Co., Ltd.
·
General Electric Company
·
Halma plc
·
Hill-Rom Holdings, Inc.
·
Koninklijke Philips N.V.
·
Masimo Corporation
·
Nihon Kohden Corporation
·
Omron Corporation
· Smiths Group Plc.
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