Digital Blood Pressure Market 2019 | Top Key Players, Growth Factors by Types, Trends, Porters Five Force Analysis and Forecast till -2025
Pune, India -- (SBWIRE) -- 06/27/2019 -- The demand for home blood pressure monitor will rise exponentially in the Global Digital Blood Pressure Monitors Market, finds Fortune Business Insights in a new study.
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The study is titled "Blood Pressure Monitors Market Size, Share and Global Trend By Product Type (Sphygmomanometers, Digital Blood Pressure Monitors, Ambulatory Blood Pressure Monitors & Hospitals), End User (Ambulatory Surgery Centers & Clinics, Home Healthcare & Others) and Geography Forecast Till 2025". As per the study, the global digital blood pressure monitors market, valued at US$ 1,037.2 Mn in 2017, will reach US$ 2,074.6 Mn by the end of 2025, exhibiting a CAGR of 9.1%.
The demand for fast and reliable digital BP monitors suitable for homecare setting is buoying growth in home blood pressure monitors segment. People are more prone to use such devices in the convenience of their homes. These monitors do not require the presence of a physician, which is a key factor fueling the demand for home blood pressure monitors in the market.
In 2017, the home blood pressure monitors segment accounted for 64.3% share in the global market. The rise in the prevalence of cardiovascular diseases is a major factor increasing the demand for blood pressure monitors worldwide.
Besides this, the introduction of cost-effective and technologically advanced blood pressure monitors by major manufacturers will aid the expansion of the blood pressure monitors market in future. Among various innovative types of blood pressure monitors, the blood pressure monitor watch or wrist type monitors are gaining popularity and will continue to do so with the advent of smart wearables.
The hospital segment is anticipated to lead among end users in terms of revenue through 2025. This is because of the need for monitoring blood pressure continuously while performing any surgery. Again, the homecare segment will grow at a significant rate as the monitors covered in this segment ensure high precision and improved accuracy. Fortune Business Insights forecasts the homecare setting blood pressure monitors to exhibit the fastest CAGR of 12.0% by the end of the forecast period.
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Inactive Lifestyle to Cause Cardiovascular Problems Fueling Demand for Digital BP Monitors
Various factors are propelling the use of blood pressure monitors worldwide. One among them is the change in lifestyle and unhealthy food habits of people, that increases the risk of cardiovascular problems. The increasing demand for automated machines and digital readout monitors, , owing to their easy handling, is also supporting the growth of the market. This will further propel the growth of the market for blood pressure monitoring in the years to come.
In the coming years, the digital BP monitors market will significantly gain from several innovations. For instance, the implementation of the Internet of Things (IoT) in the medical sector has created new opportunities for smart healthcare devices. This will, in turn, enable the digital blood pressure monitors market to gain momentum in the coming years.
Omron Healthcare to Emerge as Leading Market Player
The rising practice of sedentary lifestyle in emerging nations of Asia Pacific is a major factor spurring the incidence of cardiovascular diseases. This is a chief driver of the digital blood pressure monitors in China and India. Additionally, the presence of a large number of players in the U.S. and Canada has helped the market in North America to emerge dominant. In 2017, the North America market was valued at US$ 415.2 Mn.
This is also attributable to the improvements in the domestic level distribution of blood pressure monitors in the region. The prevalence of cardiovascular diseases and the introduction of smart health monitors will help the Asia Pacific emerge as the fastest growing region.
Market players are investing huge sums in research and development activities in order to introduce innovative blood pressure monitors. An analyst at Fortune Business Insights foretells Omron Healthcare to lead the market on account of its widespread geographical reach.
Some of the other companies operating in the global digital blood pressure monitors market are Masimo Corporation, Philips, Smiths Group, Nihon Kohden Corporation, American Diagnostic Corporation, Welch Allyn, and GE Healthcare.
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