LOS ANGELES, May 28, 2020 /PRNewswire/ -- The global ambulatory blood pressure monitoring devices market size projected to worth around US$ 162.1 Mn by 2027.
The global ambulatory blood pressure monitoring devices market is anticipated to grow at a CAGR of around 7.1% during the forecast period 2020 to 2027.
Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled "Ambulatory Blood Pressure Monitoring Devices Market (By Product Type: Arm ABPM Devices, Wrist ABPM Devices; By End Use: Hospitals, Ambulatory Surgical Centers (ASCs), Other) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027".
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North America is expected to account for major revenue share due to high patient pool suffering from problems such as hypertension.
- According to U.S. Department of Health & Human Services in 2017 there were nearly half a million deaths in the United States with the primary reason of hypertension. About half of adults (45%) with uncontrolled hypertension have a blood pressure of 140/90 mm Hg or higher. This includes 37 million U.S. adults.
Increasing number of in-patients cases in hospitals and clinics related problems associated to blood pressure and rising demand for arm ambulatory blood pressure monitoring devices and wrist ambulatory blood pressure monitoring devices is another factor expected to further support the growth of the target market in this region.
In addition, major players approach towards product development, high investment for R&D activities, coupled with innovative product offerings are some important factors expected to impact the target market growth positively.
- In 2018, SunTech Medical a manufacturer of blood pressure monitoring products launched Small Adult PLUS blood pressure cuff, completing the range of PLUS blood pressure cuff sizes. This is expected to help the company to enhance its product portfolio and increase the customer base.
The market in Asia Pacific is expected to witness faster growth over the forecast period due to high percentage of geriatric population suffering from various blood associated problems. In addition, major players inclination towards developing countries due to easy availability of raw material and low cost labor is another factor expected to support the growth of target market.
Moreover, high government spending on development of advanced healthcare infrastructure in order to facilitate the adoption of advanced monitoring devices are among other factors expected to impact the target market growth in this region.
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Increasing mortality rate due to hypertension in developed and developing countries, coupled with changing lifestyle pattern is resulting in problems associated to blood pressure which is further growing demand for ambulatory blood monitoring devices for hospitals and clinics. Factors such as changing lifestyle pattern, unhealthy food consumption is resulting in increase in blood pressure problem among people. Hospital and clinics are focused on providing better service to the patients they are adopting blood monitoring cuffs due to easy handling and monitoring.
Rapid technological advancements by the major payers in medical devices, product development activities and introduction of new products with advanced features such as options for data sharing, auto tracking, etc. are among other factors augmenting the target market growth.
In addition, major player's focus of business expansion through strategic merger and acquisition in order to increase the customer base and enhance the product portfolio is another factor supporting the growth of target market. In addition, inclination towards joint venture and collaborative works in order to lower the operational cost further support the target market growth.
- In 2020, SunTech Medical Inc. partnered with Valencell Inc., the leader in highly accurate biometric sensors for wearables, for development of new blood pressure measurement solutions that will enhance patient safety. This is expected to enhance the company product portfolio and strengthen its position in global market.
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However, factors such as high cost of ABPM monitors and stringent government regulation related to product approval are expected to hamper the growth of global ambulatory blood pressure monitoring devices market. In addition, lack of developed infrastructure in under developed countries in order to support advanced products is expected to challenge the growth of target market.
Technological advancements by major players and innovative product offerings are factors expected create new opportunities for players over the forecast period.
The global ambulatory blood pressure monitoring devices market is segmented in to product, end user. The end use segment is bifurcated in to hospitals, ambulatory surgical centers (ascs), and other. Among end use the hospitals segment is expected to account for significant revenue share in the global market.
Players operating in the global ambulatory blood pressure monitoring devices market are Spacelabs Healthcare, Inc., Welch Allyn, Inc. (Hill-Rom), Microlife AG, Schiller AG, Omron Healthcare Company, Ltd., Beijing Avantgarde Medical Equipment Company, AViTA Corporation, GE Healthcare and SunTech Medical, Inc.
Market By Product Type
- Arm ABPM Devices
- Wrist ABPM Devices
Market By End Use
- Ambulatory Surgical Centers (ASCs)
Market By Region
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest if Latin America
Middle East & Africa
- South Africa
- Rest of Meddle East & Africa
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