The Blood Pressure Monitoring Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Blood Pressure Monitoring Devices Market is estimated to be 3.20 USD billion in 2016 and predicted to rise to 4.43 USD million with a CAGR of 6.7%. The market is segmented by Type into Automated BP Monitors, Ambulatory BP Monitors, Sphygmomanometers (Mercury, Aneroid, Digital), BP Transducers and BP instruments accessories. Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Advanced handheld and automated blood pressure monitors offer features such as safety, efficacy, and portability, thereby boosting market growth. Technological advancements in the field of blood pressure monitoring and the growing use of pressure monitors in hospitals and clinics have contributed to the increasing demand of pressure monitoring devices. Handling of these devices mainly mercury sphygmomanometer is difficult which can be hazardous if mercury is spilled.
In terms of revenue share, sphygmomanometer segment dominated the product type and is expected to show lucrative growth over the forecast period owing to technological advancements in digital instruments used for monitoring. Increasing demand for faster & accurate diagnostics and the need for preventive treatments are the factors responsible for this segment growth.
North America led the global market for blood pressure monitoring devices in 2015, accounting for a share of 38% in the overall market. The growing prevalence of blood pressure and hypertension in North America will fuel demand for blood pressure monitoring devices in the region. In European countries national health plan is provided that is universal and provides minimal or free medical coverage for citizens. In Asia-Pacific region, expanding population base coupled with rise in geriatric population are increasing prevalence of hypertension.
Some of the major companies dominating the market, by their products and services include GE Healthcare, Welch Allyn, Inc., A&D Medical Inc., SunTech Medical, Rossmax International Ltd., Spacelabs Healthcare Inc., Panasonic Corporation, Philips Healthcare, Contec Medical Systems Co.,Ltd, Omron Healthcare and Microlife AG.
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