Blood Pressure Monitoring Device Market by Type (Automated BP Monitors, Ambulatory BP Monitors, Sphygmomanometers (Mercury, Aneroid, Digital), BP Transducers and BP instruments accessories) and by Region
According to the report Global Blood Pressure Monitoring Device market, published by Market Data Forecast, The Market was worth $3.20 billion in 2016 and estimated to be growing at a CAGR of 6.7%, to reach $4.43 billion by 2021. 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. Hypertension, also known as high blood pressure, is a long-term medical condition, wherein blood pressure in the arteries is persistently elevated.
Hence, is user friendly and can be used at home easily.
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.
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The Global Blood Pressure Monitoring Device Market is broadly categorized by Type into Automated BP Monitors, Ambulatory BP Monitors, Sphygmomanometers, BP Transducers and BP instruments accessories. In terms of revenue share, sphygmomanometer segment dominated the product type and is expected to show lucrative growth over the forecast period.
Further Sphygmomanometers is subdivided into Mercury, Aneroid, Digital categories.
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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.
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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.
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