Ambulatory Blood Pressure Monitoring (ABPM) Devices Market to Hit Valuation of $142 million by 2025
Pune, Maharashtra, India, February 16 2021 (Wiredrelease) Allied Analytics –:ABPM patient monitors are medical devices used to measure ambulatory blood pressure. These devices are designed to avoid the effects of white coat hypertension, hence provide accurate sleep blood pressure readings.
The global ABPM devices market was valued at $84 million in 2017, and is projected to reach $142 million at a CAGR of 6.7% from 2018 to 2025.
The major factors that drive the growth of the global ABPM patient monitors market include rise in number of hypertension cases due to obesity, cardiovascular diseases, and diabetes that may lead to high blood pressure. Moreover, increase in geriatric population, growth in demand of non-invasive devices for measuring blood pressure, and transformation from physician-centered to the patient-centered model fuel the market growth. However, expensive ABPM monitors and lack of awareness in the developing regions are expected to restrain the market growth. Conversely, high market potential in the emerging markets, such as China and India, and increase in healthcare expenditure in the developing countries are expected to provide lucrative opportunities to the market players.
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1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
The arm ABPM devices segment occupied the largest share in 2017 due to the high usage, applicability, and availability of these devices for measuring ambulatory blood pressure. It is anticipated to continue its dominance during the forecast period. However, the wrist ABPM devices segment is expected to grow at the highest CAGR from 2018 to 2025.
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The utilization rate of ambulatory surgical centers segment is expected to grow at a CAGR of 8.5% during the forecast period. This is attributed to increase in incidence of hypertension, which results in adoption of blood pressure measuring devices.
North America was the leading revenue contributor to the global ABPM devices market, accounting for nearly one-third of the global market. This is attributed to the early approval of ABPM devices and high use of these devices due to rise in incidence of hypertension. However, Asia-Pacific is expected to grow at the highest CAGR of 8.3% during the study period due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward ambulatory blood pressure.
The Major Key Players Are:
Spacelabs Healthcare, Inc., Welch Allyn, Inc., SunTech Medical, Schiller AG, Bosch & Sohn GmbH & Co. KG, Contec Inc. (Parent Company: DAIFUKU CO., LTD.), GE Company, Rudolf Riester GmbH, Vaso Corporation, and BPL Group.
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Key findings of the ABPM Devices Market:
• Arm ABPM devices segment accounted for more than two-thirds share of the global ABPM devices market in 2017.
• Hospitals segment accounted for more than two-fifths share of the global ABPM devices market in 2025.
• Ambulatory surgical centers segment accounted for around one-fourth share of the global ABPM devices market in 2017.
• Asia-Pacific accounted for around one-fifth share of the global ABPM devices market in 2017.
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