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The global blood pressure monitoring devices market is expected to reach USD 2.0 billion by 2022, according to a new report by Grand View Research, Inc. Rising geriatric population prone to high blood pressure is expected to widen the consumer base by triggering incidences of target diseases such as hypertension which is anticipated to drive the demand for blood pressure monitors in the future. In addition, increasing awareness levels and demand for personalized & portable devices for monitoring are the factors contributing towards the market growth.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 monitor of life. The cost effective and accurate results offer by these indicators is the factor responsible for the market growth.
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Further key findings from the report suggest:
In terms of revenue share, sphygmomanometer segment dominated the product type as of over USD 1 billion in 2014. It is expected to show lucrative growth over the forecast period owing to technological advancements such as digital instruments used for monitoring.
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.
Automated blood pressure monitors are expected to grow at lucrative CAGR of over 13.0%, owing to wide applications in early detection & prevention for regular monitoring
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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.
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The key players operating in global blood pressure monitoring 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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