(PharmaNewsWire.Com, January 09, 2021 ) Pressure monitoring plays an important role in detecting the health problems of a patient. The major fluctuations of pressure in the vital areas of the body may cause various chronic and acute diseases such as diabetes, cardiac arrest, and glaucoma. Increase in the prevalence of the above mentioned diseases and growing aging population have increased the need for pressure monitoring and control in the market.
Expected Revenue Growth:
The overall market for pressure monitoring is expected to reach $8,040.6 million by 2020 from $6,000.0 million in 2015, growing at a CAGR of 5.0% from 2015 to 2020.
Factors such as rising prevalence of chronic and acute diseases increase in the aging population, new product launches, and technological advancements are driving the growth of this market. On the other hand, high cost of technological advancements, lack of trained professionals, accuracy of the devices and short shelf life is hindering the growth of this market.
Pressure monitoring plays an important role in detecting the health problems of a patient. The major fluctuations of pressure in the vital areas of the body may cause various chronic and acute diseases such as diabetes, cardiac arrest, and glaucoma. Increase in the prevalence of the above mentioned diseases and growing aging population have increased the need for pressure monitoring and control in the market.
The major factors responsible for the growth of the pressure monitoring are the rising prevalence of chronic and acute diseases, growth of aging population, new product launches, increase in the lifestyle related diseases, and technological advancements. Due to these factors, the demand for pressure monitoring is increasing. On the other hand, lack of trained professionals, short shelf life of the device, accuracy of devices has may restrain the growth of the market.
The major factors driving the growth of this market are the increasing urbanization resulting into increased pollution levels, rising prevalence of chronic diseases and acute diseases, changing lifestyle, growing aging population, and technological advancements. On the other hand, high cost of technological development, concerns regarding the accuracy of these devices, short shelf life of devices and accessories, availability of low cost devices from the local market, and lack of training for using the devices may hinder the growth of the market.
Key players in the market include Philips Healthcare (The Netherlands), GE Healthcare (U.K.), Welch Allyn, Inc. (U.S.), Medtronic (U.S.), and Drägerwerk AG & Co. KGaA (Germany).
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