Focus of manufacturers on the development of novel devices such as wrist ABPM devices and various advanced monitors that can connect to mobile phones to detect high blood pressure would have a significant impact on the market growth.
Focus of manufacturers on the development of novel devices such as wrist ABPM devices and various advanced monitors that can connect to mobile phones to detect high blood pressure would have a significant impact on the market growth.
The global ABPM device market was estimated at $84 million in 2017 and is anticipated to reach $142 million by 2025, growing at a CAGR of 6.7% from 2018 to 2025.
Increase in geriatric population, growth in the prevalence of hypertension, high demand for non-invasive methods, and transformation of medical procedures from physician-centered to patient-centered model have driven the global Ambulatory Blood Pressure Monitoring (ABPM) device market. On the other hand, high cost of ABPM devices and lack of awareness about the tools in the developing countries have restricted the growth to some extent. However, increase in healthcare expenditure in emerging economies has created multiple opportunities in the segment.
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COVID-19 scenario-
- The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
- The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
- However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
ABPM patient monitors are medical devices used to measure ambulatory blood pressure. These devices are designed to avoid the effects of white coat hypertension, hence provide accurate sleep blood pressure readings.
The global Ambulatory Blood Pressure Monitoring (ABPM) Devices market is analyzed across product, end user, and region.
By product, the ARM ABPM segment accounted for more than four-fifth of the total market in 2017 and is expected to dominate throughout the forecast period. On the other hand, the wrist ABPM segment is expected to grow at the fastest CAGR of 10.80% till 2025.
Based on end-user, the hospitals segment contributed to more than half of the total market in 2017 and is estimated to keep ruling the roost throughout 2017-2025. Simultaneously, the ASCs segment is anticipated to mount up at the fastest CAGR of 10.80% during the study period.
North America was the leading revenue contributor to the global ABPM devices market, accounting for nearly one-third of the global market. This is attributed to the early approval of ABPM devices and high use of these devices due to rise in incidence of hypertension. However, Asia-Pacific is expected to grow at the highest CAGR of 8.3% during the study period due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward ambulatory blood pressure.
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The Major Key Players Are:
Spacelabs Healthcare, Inc., Welch Allyn, Inc., SunTech Medical, Schiller AG, Bosch & Sohn GmbH & Co. KG, Contec Inc. (Parent Company: DAIFUKU CO., LTD.), GE Company, Rudolf Riester GmbH, Vaso Corporation, and BPL Group.
The Other Major Key Players Are:
Mortara Instrument, Inc., Daray Medical, Omron Healthcare Company, and Microlife Corporation.
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