Blood Pressure Monitoring Devices Market: Upcoming Demands and Growth Analysis 2023

The competitive landscape of the global blood pressure monitoring devices market is dominated by companies with a diverse product catalog and expansive presence across various regions. Omron Healthcare, Welch Allyn, Philips Healthcare, Shenzhen Kingyield Technology, Panasonic, Contec Medical Systems, and A&D Medical. According to Transparency Market Research, the top five companies in the global blood pressure monitoring devices market accounted for 55% of the market in 2014, indicating a high degree of consolidation that is only likely to increase in the coming years.

The sustained product development efforts carried out by major players in the blood pressure monitoring devices market have led to a market marked by price-based competition. This has given large companies an edge over new entrants and specialist companies, which is likely to result in significant M&A activity in the blood pressure monitoring devices market in the coming years.

According to Transparency Market Research, the global blood pressure monitoring devices market was valued at US$2 bn in 2014. It is likely to exhibit a strong 7.30% CAGR from 2015 to 2023 and rise to a valuation of US$3.8 bn.

This 257 page report gives readers a comprehensive overview of the Blood Pressure Monitoring Devices Market. Browse through 72 data tables and 79 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/blood-pressure-monitoring-market.html

The key end users of blood pressure monitoring devices are hospitals and patients availing home care facilities. The latter is likely to remain the leading contributor to the global market, with the valuation of the home care segment being almost twice that of the hospitals segment. The use of blood pressure monitoring devices in home care has been driven by the rising prevalence of hypertension and other lifestyle conditions that don’t necessarily require hospitalization but do necessitate continuous monitoring.

The incorporation of blood pressure monitoring devices in home care has also been helped by the steady product innovation in the industry. This has resulted in the production of reliable and efficient blood pressure monitoring devices, which has helped increase patient confidence. Due to the relatively simple fundamental nature of blood pressure monitoring devices, product innovation and price reductions have become the key strategies for manufacturers, which has helped drive the demand for blood pressure monitoring devices.

Despite the significant demand from hospitals as well as home care initiatives, reimbursement support for blood pressure monitoring devices is lacking in many countries. This is the key restraint on the blood pressure monitoring devices, as the increasing popularity of home healthcare means the reimbursement frameworks will need to be rearranged to reflect the increasing demand for blood pressure monitoring devices.

Get accurate market forecast and analysis on the Blood Pressure Monitoring Devices Market. Request a sample to stay abreast on the key trends impacting this market: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1630

In 2014, North America was the dominant contributor to the global blood pressure monitoring devices market due to the presence of several leading international players, the increasing prevalence of blood pressure disorders, and the widespread availability of blood pressure monitoring kiosks for public use. The increasing deployment of blood pressure monitoring kiosks, which are becoming common in shopping complexes and other public areas in developed countries, has significant potential to drive the demand for blood pressure monitoring devices in North America and parts of Western Europe in the coming years.

On the other hand, the immense potential of Asia Pacific, thanks to its large population base and the formidable presence of unmet medical needs, has encouraged several manufacturers of blood pressure monitoring devices to focus on it as a market for the present as well as the future. While Asia Pacific trails the North America market at present, it is expected to catch up with it over the 2015-2023 forecast period and emerge as a leading contributor to the global blood pressure monitoring devices market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

Contact us:

Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/

This release was published on openPR.