The global BloodPressure Monitoring Devices market is expected to value USD 2.0 billion by 2022. The blood pressure monitoring device industry is subject to witness a substantial growth due to the increasing occurrence of chronic diseases, changing food patterns, significant adoption of home-based monitoring systems, and ease of use for these devices. Blood pressure monitoring devices are responsible for monitoring number of parameters similar to arterial blood pressure, heartbeat rate, blood flow rate, pulse-oximetry, and concentration or partial pressure of carbon dioxide.
Globally,
the blood pressure monitoring device market is predicted to grow at a CAGR of
11.0% in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market. Healthcare
professionals such as physicians and clinicians are preferring blood pressure
monitoring devices over the traditional systems. Furthermore, large number of
awareness initiatives by local governments are creating substantial increase in
opportunities for market players in the recent years. However, strict laws and
guidelines adopted by regional governments and lack of highly skilled
professionals are restricting the market growth.
Changing
lifestyle and eating habits since last few decades have steered rising
occurrence cardio-vascular diseases among young as well as elderly population.
High-calorie diet and lesser physical exercises are contributing to number
incidences of cardio-vascular diseases such as arteriosclerosis and high blood
pressure. The common factors such as pollution with the growing industrialization
and urbanization, are contributing to the respirational disorder, attributing
to the demand blood pressure monitoring devices.
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The
blood pressure monitoring devices offer smart diagnosis based treatment with
the help of highly accurate diagnosis of physiological parameters in real-time.
The blood pressure monitoring devices are able to understand and facilitate
diagnostic needs according to the requirement and characteristics of specific
patient. These systems are capable of performing diagnosis even during
occurrence of accidental errors and existence of unexpected artifacts.
Blood
pressure monitoring alongside multiple sensor data fusion techniques are vital
for diagnosis in extreme conditions and critical situations, in which the
diagnosis of inherently interlinked signals is needed. The application of the
blood pressure monitoring devices include intensive care units, battlefield
medical facility, and outer-space operations. These devices neglects
possibilities of misinterpretation of data responsible for raising false alarms
and offer high degree of precision in its results with the help of data
aggregation and fusion.
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The
blood pressure monitoring device industry is broadly categorized into five
major segments based on the product type such as sphygmomanometer, automated
blood pressure monitor, ambulatory blood pressure monitor, blood pressure
transducers and blood pressure instrument accessories. The sphygmomanometer is
considered as one of the fastest growing segment in the blood pressure
monitoring devices market with substantial revenue generation in the last few
years.
Growing
popularity of the segment is attributed to the sphygmomanometer their broad
range of applications and associated benefits. The automated blood pressure
monitor segment has also witnessed substantial growth owing to the growing
demand for faster & accurate diagnostics and the need for preventive
treatments.
The
blood pressure monitoring devices industry is divided by region as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the implementation of
latest technologies in healthcare sector, increase in the number of research
& development activities in the region and existence of well-established
medical facilities in the region.
Asia-Pacific
region is predicted to hold major market share in the blood pressure monitoring
device market with massive growth in forecast period. Countries such as India,
China and Singapore are leading the Asia-Pacific market with increasing
healthcare expenditure, growing awareness among general population, rising
disposable income, and significant investment by leading industry players
considering potential growth opportunities in the region.
The
key players in the blood pressure monitoring device industry are GE Healthcare,
Inc., Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Inc., American
Diagnostics Co., Withings, Briggs Healthcare, Kaz Inc., Microlife AG, Rossmax
International Ltd., GF Health Products, Inc., Spacelabs Healthcare, Inc., Omron
Healthcare Co., and Philips Healthcare N.V.
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