Orion Market Research (OMR) recently published a market research report on Global Blood Pressure Monitoring Devices Market. According to OMR analysis, the global blood pressure monitoring devices market is expected to grow at a CAGR of 10.5% during the forecast period (2018-2023). The market is segmented on the basis of device type, accessory type, end user application and regional outlook. The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, patent analysis, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
The main function of heart is to pump the blood all around the body in order to provide oxygen and other important components. As the blood circulates, it pushes against the sides of the blood vessels with a strength which is called as blood pressure. If the blood pressure is high, it will push with the extra strain on the arteries which is known as systolic pressure and when the pressure of the blood reduces below required level then it is called as diastolic pressure. Increase in geriatric & obese population, rising awareness toward the health in the developing economies are some of the factors driving the global blood pressure monitoring devices market.
Globally, cohesive government policies and healthcare reforms will boost the demand for BP monitoring devices due to growing awareness and diagnosis. To check the accurate blood pressure & maintaining it is the basic need to cure any disease. Along with that, government regulation, subsidies and investment in healthcare is expected to drive the blood pressure monitoring devices market in near future. The global blood pressure monitoring devices market is segmented on the basis of device type, accessory type and end user. In device type segment, digital sphygmomanometer is expected to show the highest growth during forecast period. In end user segment, the hospital will have the highest market share whereas personal use/homecare will show a considerable growth rate.
Geographically market is divided into North America, Europe, Asia pacific (APAC) and rest of the world (ROW). In global blood pressure devices market North America is expected to dominate. The main factor of its dominance is well established healthcare infrastructure, high diagnosis rate of the patients and growth in the chronic diseases due to the changing lifestyle of the people in the region. The US and Canada are two large economies and are investing in the research & technology so remarkable number of innovation can be observed in the region.
Europe is estimated to show a positive growth rate in the blood pressure monitoring devices during forecast period. In European Union the countries which are mainly considered includes UK, Germany, France, Spain & Italy. Healthcare Infrastructure is well developed in these countries and the diagnosis rate are quite high too. The government rules and regulations are in the favor of the market. Most of the government provides free health checkup and diagnosis. Additionally, the prevalence rate of the cardiovascular diseases is increasing in the region which is also expected to increase the market growth. Increasing number of CVD cases, changing lifestyle, increasing hypertension, growing R&D in the monitoring devices are the key factors boosting the growth of the blood pressure monitoring devices market in the region.
APAC is anticipated to be the fastest growing region mainly due to the contribution from countries such as Japan, China, Korea and India. Economies of the India and China are developing at rapid rate and creating considerable scope for BP monitoring device market. Additionally, these countries are the most populous and have high rate of incidence and prevalence of CVD. China and Japan have high geriatric population that further boosts the demand for BP monitoring devices. The geriatric population of the China is expected to reach 250 million by 2020. Considering the growing geriatric population, the incidence and prevalence of chronic diseases will also increase giving rise to the demand of remote monitoring devices such as BP monitors. Increase in investment by manufacturer, increasing awareness, rising purchasing power, rapidly improving healthcare facilities and rising number of diagnosed & treated cases of high BP are key factors attributing to the market growth for this region. Apart from this, South Korea, Thailand, Singapore have big market players in healthcare industry which is expected to increase the market of blood pressure monitoring devices.
The report covers:
- Comprehensive research methodology of blood pressure monitoring devices market
- In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global blood pressure monitoring
- Insights about market determinants which are stimulating the global blood pressure monitoring devices market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of market players.
For more information, visit: https://www.omrglobal.com/industry-reports/blood-pressure-monitoring-devices-market/