Worldwide Invasive Blood Pressure Monitoring Transducers Industry to 2026 - Growing Advancement in Technology is Escalating the Growth of the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Invasive Blood Pressure Monitoring Transducers Market Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global Invasive Blood Pressure Monitoring Transducers Market is set to register a CAGR of 4.9% during the forecast period 2021-2026 and registered a market value of $169.1 million in 2020.
- BL Lifesciences
- ITL Biomedical
- Henleys Medical
- BQ+ Medical
- Wellona Pharma
- Shenzhen Antmed Co. Ltd.
- Smiths Medica
- Fluke Biomedical
Invasive blood pressure monitoring transducers are designed to provide an accurate and consistent reading of arterial and venous blood pressure measurement. It is available with an integral Velcro strap that helps in easy mounting. The transducer displays the blood pressure data graphically on screen by connecting it to a pressure monitor. Recently standards for blood pressure transducers have been developed by the Association for the Advancement of Medical Instrumentation (AAMI) and adopted by the American National Standards Institute (ANSI).
These standards should greatly simplify transducer selection and will eventually allow the same transducer to be used interchangeably with any monitor. The transducers are used in Intensive Care Units and Operating Rooms as they relay blood pressure information from a pressure monitoring catheter (arterial line, central venous pressure line, or other pressure monitoring products) to the patient's monitoring system.
The demand for invasive blood pressure monitoring transducers is increasing owing to the increasing incidences of chronic diseases and rising advancement in technology is the major factor driving the growth of the Invasive Blood Pressure Monitoring Transducers Market. Furthermore, rising investments in research and development activities for developing technologies help in enhancing the overall market demand for Invasive Blood Pressure Monitoring Transducers Market for the period 2021-2026.
- In 2020, North America dominated the Invasive Blood Pressure Monitoring Transducers Market. This is owing to advancement of technology in healthcare industry, rising number of healthcare infrastructure and increasing prevalence of hypertension are some factors enhancing the market growth.
- Rising number of chronic disease among patients and growing development in technology helps in improving the growth of the Invasive Blood Pressure Monitoring Transducers Market.
- The prominent manufacturers operating in the Invasive Blood Pressure Monitoring Transducers market will be provided detailed analysis of Strength, Weakness, and Opportunities in the Market report.
- High costs associated with invasive blood pressure monitoring transducers create hurdles for the Invasive Blood Pressure Monitoring Transducers Market.
Invasive Blood Pressure Monitoring Transducers Market Drivers
Increasing number of chronic diseases among population is driving the growth of the market
The demand for invasive blood pressure monitoring transducers is increasing owing to the increasing incidences of the chronic diseases as they can facilitate early diagnosis of the patients deteriorating health conditions. According to the World Health Organization in 2020, around 2.50 billion people were suffering from hypertension that is the major cause of premature death. The increasing incidences of hypertension globally have led to an increase in the demand for home monitoring devices. In addition, the benefits associated with automated devices such as repetitive measurements of blood pressure to check the accuracy and banned mercury devices are also escalating the growth of the Invasive Blood Pressure Monitoring Transducers Market during the forecast period 2021 - 2026.
Growing Advancement in Technology is Escalating the Growth of the Market
Technological advancement in the medical industry helps manufacturers to develop a variety of innovative medical devices. For instance, Valencell, biometric technology company has been developing innovative sensor technologies for wearables and hearables to enable impactful health outcomes. Most recently, the researchers have cultivated a calibration-free, cuffless blood pressure monitoring transducers that can be used in a range of devices including smartwatches, fitness bands, patches, and pulse oximeter finger clips among others to provide accurate readings which helps in accelerating the growth of Invasive Blood Pressure Monitoring Transducers Market.
Invasive Blood Pressure Monitoring Transducers Market Challenges
High Cost Associated With Invasive Blood Pressure Monitoring Transducers Market
The usage of invasive blood pressure monitoring transducers are limited in many developing countries owing to the high prices of these devices, thus hindering the growth of the market. The retail prices of the invasive blood pressure monitoring transducers varies from USD 40 to USD 60 according to Cleveland Clinic based on the type of the device. New players are entering the market having low-cost devices but the overall average retail prices seem to be higher for the people in the low income countries. Thus, it is set to hinder the growth of the market during the forecast period 2021-2026.
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