Blood Pressure Monitoring Devices Market Size To Reach USD 2.92 Billion, Globally, By 2022
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:UPDATE AVAILABLE ON-DEMAND
According to the report by Allied Market Research, the global Blood Pressure Monitoring Devices market is estimated to register a CAGR of 5.7% from 2016 to 2022. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps. Digital blood pressure monitoring devices segment held around two-fifths share of the total market in 2015.
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.
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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.
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.
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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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