The global blood pressure (BP) 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.
Grand View Research has segmented the global blood pressure monitoring device market on the basis of product, end-use, and region:
Blood Pressure Monitoring Device Product Outlook (Revenue, USD Million; 2014 - 2026)
Sphygmomanometer/Aneroid BP Monitor
Automated/Digital Blood Pressure Monitor
Ambulatory Blood Pressure Monitor
Instruments and Accessories
Blood pressure cuffs
Blood Pressure Monitoring Devices End-Use Outlook (Revenue, USD Million; 2014 - 2026)
Ambulatory Surgical Centers & Clinics
Blood Pressure Monitoring Devices Regional Outlook (Revenue, USD Million; 2014 - 2026)
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