The global Blood Pressure Monitoring Devices Market size is expected to reach USD 2.47 billion by 2026, according to a new report by Grand View Research, Inc. exhibiting a CAGR of 10.1% during the forecast period. The growing global geriatric population base is expected to widen the consumer base by triggering incidence rates of hypertension, which is expected to drive the demand for blood pressure monitoring devices. Increasing incidence of hypertension has led to rising demand for cost-effective, rapid and accurate diagnostic solutions. Blood pressure monitors are one of the vital sign monitors of life. The cost-effective and accurate results offer by these indicators is the factor responsible for the market growth.
In
addition, new product launches coupled with rising adoption of technologically
advanced products due to high penetration of health insurance is considered as
another factor fueling the demand for BP monitoring devices. The increasing
popularity of mHealth platform in the healthcare sector is additionally,
propelling the market growth. Rising patient awareness levels about advantages
associated with portable monitoring devices are expected to positively
reinforce market growth.
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Further
Key Findings From the Report Suggest:
- Sphygmomanometer/ aneroid BP monitors dominated the overall market
in 2018 in terms of revenue share, owing to the increasing prevalence of
high blood pressure worldwide.
- Ambulatory blood pressure monitoring device market is driven by
factors such as increasing adoption by clinicians and awareness about it.
- Digital BP monitors segment is expected to witness lucrative growth
in the coming years owing to advantages associated with these devices such
as ease of use, immediate results, and low cost. In addition, continuous
improvement in these devices is expected to present this market with
further growth opportunities.
- Home healthcare segment is expected to witness lucrative growth
owing to the government initiatives to promote home healthcare.
- In 2018, North America was the key regional market in terms of
revenue share. Key factors attributing to its large share include the
presence of advanced healthcare infrastructure and increasing prevalence
of lifestyle-associated diseases with a high risk of hypertension.
- Higher awareness levels, increasing demand for early diagnostics
& prevention and increasing stress levels leading towards high blood
pressure are the factors responsible for the market growth.
- Asia Pacific blood pressure monitoring device market is expected to
demonstrate rapid growth during the forecast period with CAGR of 12.2% key
factors attributing to its rapid growth include favorable government
initiatives such as the government of India's campaign "Make In
India" which is intended to attract FDI and international players to
invest in Indian market. In addition, rapidly improving healthcare
facilities are anticipated to market growth.
- The key players operating in the market include Omron Healthcare,
GE Healthcare, A&D Medical Inc., Welch Allyn Inc., SunTech Medical,
Inc., Withings, Briggs Healthcare, Microlife AG, Kaz Inc., Philips
Healthcare, American Diagnostics Corporation, Rossmax International Ltd.,
Spacelabs Healthcare Inc., and GF Health Products Inc.
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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