(PharmaNewsWire.Com, March 06, 2018 ) Hypertension, also known as high blood pressure, is a long-term medical condition, wherein blood pressure in the arteries is persistently elevated. It is a chronic condition and a leading cause of death and responsible for cardiovascular diseases and heart attacks globally. Blood Pressure Monitoring devices are those which automatically obtain and usually record the blood pressure at certain intervals, using the direct or indirect method of determining pressure. Hence, is user friendly and can be used at home easily.According to the report “Global Blood Pressure Monitoring Device Market,” published by Market Data Forecast, the global market is projected to reach USD 4.43 billion by 2021, at a CAGR of 6.7% from 2016 to 2021.
global Blood Pressure Monitoring Device Market: Drivers & Restraints
Rising prevalence of heart disorders, increasing obese population, growing geriatric population and new product launches are the key factors that majorly cause the blood pressure monitoring devices market to grow. Advanced handheld and automated blood pressure monitors offer features such as safety, efficacy, and portability, thereby boosting market growth. Furthermore, technological advancement such as mobile-based BP monitoring systems is anticipated to drive the industry growth.
Global Blood Pressure Monitoring Device Market: Overview
The market is expected to witness rapid growth during the forecast period. In the next few years the demand for blood pressure monitoring devices is expected to increase significantly in the emerging economies. In terms of revenue share, sphygmomanometer segment dominated the product type and is expected to show lucrative growth over the forecast period. Digital sphygmomanometer segment is expected to witness lucrative growth in coming years owing to advantages associated with these devices such as ease of use, accurate results and low cost. In addition, continuous improvement in these devices is expected to present this market with further growth opportunities.
Increasing popularity of mHealth platform in healthcare sector is additionally, propelling the market growth. Rising patient awareness levels pertaining to advantages associated with portable monitoring devices is expected to positively reinforce market growth. In 2014, North America was the key regional market in terms of revenue share. Key factors attributing to its large share include presence of advanced healthcare infrastructure and increasing prevalence of lifestyle associated diseases with 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 devices market is expected to demonstrate rapid growth during the forecast period with CAGR of 13.5% key factors attributing to its rapid growth include favorable government initiatives such as 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 towards the market growth.
Global Blood Pressure Monitoring Device Market: Region-wise Outlook
Geographically the market is categorized into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. North America dominates the overall industry followed by Europe. Factors such as increasing prevalence of chronic and acute diseases such as hypertension and cardiac diseases, technological advancements, acceptability of the non-invasive pressure monitors among the patients, and existence of key market players in North America are driving the growth of this market. Asia-Pacific, on the other hand, is expected to grow at a rapid pace over the forecast period. Increasing investment by government, growing awareness levels and rising incidences of hypertension and number of undiagnosed of high BP are key factors attributing to this regional market growth.
Key Questions Answered
· What will be the market growth till 2021 and what will be the resultant market forecast in the year?
· What was the market size from 2016 to 2021 ?
· What is the current and future Blood Pressure Monitoring Device Market outlook in worldwide?
· What trends are affecting the Global market?
· What is the competitive landscape and market share of major players in the Blood Pressure Monitoring Device space in global?
· What are the key, high growth markets that Blood Pressure Monitoring Device manufacturers should expand into? Which market segments are growing the fastest?
· What are the unmet needs with the Blood Pressure Monitoring Device currently on the market? How will emerging technologies fulfil these unmet needs?
· What is physician perception and market outlook of Blood Pressure Monitoring Device?
· What are the challenges and barriers that have hindered widespread adoption of Blood Pressure Monitoring Device?
Global Blood Pressure Monitoring Device Market: Key Players
Some of the major companies dominating the market, by their products and services include GE Healthcare, Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Rossmax International Ltd., Spacelabs Healthcare Inc., Panasonic Corporation, Philips Healthcare, Contec Medical Systems Co.,Ltd, Omron Healthcare and Microlife AG.
Reasons to buy Global Blood Pressure Monitoring Device Market Report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
• A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market About Market Data Forecast
Market Data Forecast is a well versed market research firm catering solutions in the fields of market research, business intelligence and consulting. With a profound knowledge about the global market activities coupled with a customized approach. We render services in the most gripping markets like healthcare, agriculture and food & Beverages
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