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Blood Pressure Monitoring Device Market - Innovation and increased patient awareness of advanced devices will accelerate market growth

03-26-2019 10:14 AM CET | Health & Medicine

Press release from: Allied Market Research

Blood Pressure Monitoring Devices Market

Blood Pressure Monitoring Devices Market

The Blood Pressure Monitoring Device Market is valued at $ 1,981 million in 2015 and is expected to reach $ 2,926 million in 2022 and is expected to grow at an annual average rate of 5.7% from 2016 to 2022.

Blood pressure is considered to be one of the major risk factors for chronic heart disease. Advanced blood pressure monitoring devices are used to transmit blood pressure data to physicians with regular remote monitoring. Factors such as an increase in the elderly population, an increase in trends in home monitoring, and a sharp rise in the incidence of chronic diseases such as cardiovascular disease and obesity are expected to lead the market. Innovation in blood pressure monitoring devices, such as the introduction of digital blood pressure monitors, and increased patient awareness of advanced devices will accelerate market growth. However, lack of awareness of these devices in low- and middle-income countries hinders market growth.

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Key players in the global blood pressure monitoring devices market include
• A&D Company Limited
• Contec Medical Systems Co. Ltd.
• General Electric Company
• Halma plc
• Hill-Rom Holdings Inc.
• Koninklijke Philips N.V.
• Masimo Corporation
• Nihon Kohden Corporation
• Omron Corporation
• Smiths Group Plc.

Digital blood pressure monitoring devices are expected to dominate the global blood pressure monitoring device market as the incidence of hypertension increases worldwide. However, as a result of increased outpatient and government reimbursement support, the mobile blood pressure monitor segment is expected to grow at its fastest rate.

Digital BP monitors in hospitals and clinics are expected to quickly and easily detect patients whose health is deteriorating, enabling rapid intervention and diagnosis of diseases, thus dominating the global blood pressure monitor market. However, mobile blood pressure monitoring devices in the outpatient surgery center (ASC) market are expected to grow at the fastest rate as the outpatient population increases.

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North America is the highest revenue contributor in global revenue in 2015, accounting for about 2/5 of the market share and is expected to maintain this trend. This is due to increased prevalence of hypertension, increased patient awareness of cost-effective blood pressure monitoring devices, and availability of advanced medical facilities in North America. However, Asia Pacific is expected to grow at the highest rate due to improved patient awareness of high population-based, income and high blood pressure monitoring devices.

Key Findings of the Blood Pressure Monitoring Devices Market Study:
• Based on product type, in 2015, digital blood pressure monitoring devices segment accounted for around two-fifths share of the total market.
• Home environment segment is expected to grow at a significant CAGR of 6.5%, as these devices can be easily used by a patient and do not require trained professionals for operating the device.
• LAMEA is projected to be the one of the fastest growing region, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of hypertension, and increased disposable income of the population.
• In 2015, Japan and China jointly accounted for about two-thirds share of the Asia-Pacific blood pressure monitoring devices market.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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