Blood Pressure Monitoring Devices & Accessories Market - Health-conscious Millennials Influence Demand for Compact Blood Pressure Monitoring Devices & Accessories
Blood Pressure Monitoring Devices & Accessories Market: Introduction
Transparency Market Research has published a new report titled, ‘Global Blood Pressure Monitoring Devices & Accessories Market’. According to the report, the global blood pressure monitoring devices & accessories market was valued at ~US$ 1.9 Bn in 2018 and is projected to expand at a CAGR of ~7% from 2019 to 2027.
The medical term for high blood pressure is hypertension. Blood pressure is considered to be normal under a systolic value of 140 mmHg and under a diastolic value of 90 mmHg. A blood pressure monitoring device reads blood pressure automatically based on variations in the volume of blood in the arteries. Systolic and diastolic are terms used to depict or interpret blood pressure. The blood pressure is measured in terms of millimeters of mercury (mmHg). The three stages of hypertension are prehypertension (from 120-139 over 80-90), stage 1 (from 140-159 over 90-99), and stage 2 (from 160 and above over 100 and above).
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Blood Pressure Monitoring Devices & Accessories Market: Major Segments
In terms of device, the global blood pressure monitoring devices & accessories market has been segmented into sphygmomanometers, automatic blood pressure monitors, ambulatory blood pressure monitors, blood pressure transducers, and blood pressure instrument accessories. Sphygmomanometers have been categorized into mercury sphygmomanometers, aneroid sphygmomanometers, and digital sphygmomanometers. Blood pressure transducers has been classified into disposable and reusable. Blood pressure instrument accessories have been split into blood pressure cuffs, and bladders, bulbs, and valves.
The automatic blood pressure monitors segment is projected to dominate the global market during the forecast period, owing to increase in usage in different types of surgeries for different indications. User-friendliness and safe application are the major advantages of these devices. The segment held significant share of the global blood pressure monitoring devices & accessories market in 2018. The automatic blood pressure monitors segment is anticipated to expand at a moderate CAGR between 2019 and 2027, owing to rise in surgeries and adoption rate of self-serving diagnostic tools.
Sphygmomanometers are the other most preferred blood pressure monitors, as these are cost-effective and offer accurate readings. Growth of the sphygmomanometers segment is likely to be stable owing to decline in usage of mercury sphygmomanometers, introduction of large number of aneroid sphygmomanometers in the market, and rise in digitalization in the readings of blood pressure monitors.
The blood pressure transducers and blood pressure instrument accessories segments are anticipated to witness moderate growth during the forecast period. High accuracy of blood pressure transducers, increase in the geriatric population, and favorable trade regulations in the developing countries are the major factors expected to propel the blood pressure transducers and blood pressure instrument accessories segments during the forecast period.
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Based on end user, the global blood pressure monitoring devices & accessories market has been divided into hospitals, ambulatory surgical centers, clinics, home care settings, and others. The home care settings segment captured the largest market share in 2018, owing to the availability of trained & qualified personnel and favorable reimbursement structure. The segment is expected to expand at the highest CAGR during the forecast period, attributed to the miniaturization of devices and rise in need & demand for self-testing devices by patients.
Increase in the geriatric population and improvements in healthcare facilities in developing countries are anticipated to propel the clinics segment during the forecast period. However, rise in need & demand for blood pressure kiosks at public places (gym, airports, colleges, etc.) and government funding to boost the production of blood pressure monitors are likely to augment the ambulatory surgical centers and others segments during the forecast period.
Blood Pressure Monitoring Devices & Accessories Market: Prominent Regions
North America held major share of the global blood pressure monitoring devices & accessories market in 2018. Highly structured health care industry, presence of key players, and growth strategies of these players are the major factors driving the market in the region. Rise in awareness about the benefits of surgeries and procedures and increase in healthcare expenditure also contribute to the growth of the market in North America.
Asia Pacific held the second largest share of the global blood pressure monitoring devices & accessories market in 2018. Growth of the blood pressure monitoring devices & accessories market in the region can be attributed to rise in prevalence of chronic diseases and well-developed healthcare sector in the region. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. Increase in number of people with cardiovascular diseases, product approvals, and rise in awareness about cardiovascular diseases are factors anticipated to fuel the growth of the blood pressure monitoring devices & accessories market in the region.
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Blood Pressure Monitoring Devices & Accessories Market: Key Players
Key players are expanding their footprint to strengthen their positions in the global blood pressure monitoring devices & accessories market. Increase in population with hypertension offers lucrative opportunities to key players to increase their share in the blood pressure monitoring devices & accessories market. Hence, manufacturers are engaging in new product development, collaborations, and distribution to gain market share.
Leading players operating in the global blood pressure monitoring devices & accessories market include Omron Healthcare, Inc., Koninklijke Philips N.V., Schiller AG, American Diagnostic Corporation, SPENGLER, Spacelabs Healthcare, Withings SA, Welch Allyn, Inc., SunTech Medical, Inc., A&D Medical, and GE Healthcare.
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