Blood pressure is considered as one of the main risk factors for chronic heart disease. Advanced blood pressure monitoring devices 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.
Key Findings of
the Blood Pressure Monitoring Devices Market Study:
·
Based on product type, in 2015, digital blood
pressure monitoring devices segment accounted for around two-fifths share of
the total market.
·
Home environment segment is expected to grow at a
significant CAGR of 6.5%, as these devices can be easily used by a patient and
do not require trained professionals for operating the device.
·
LAMEA is projected to be the one of the fastest
growing region, owing to the presence of ample growth opportunities in terms of
unmet medical needs for the treatment of hypertension, and increased disposable
income of the population.
·
In 2015, Japan and China jointly accounted for
about two-thirds share of the Asia-Pacific blood pressure monitoring devices
market.
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